exam‚ management concluded the large fixed cost absorbed sale figure. First it is important to understand the standard costing system implemented in Rubber group. Standard costing assigns quantity and price standards to each component of variable and fixed costs in calculating the total cost. In the case of NASA‚ the system uses standard purchasing price (input cost) and standard inputs usage in place for variable costs‚ and standard spending price (input cost) and standard
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accounting profits and economic profits for Gomez’s pottery. Explicit costs: $37‚000 (= $12‚000 for the helper + $5‚000 of rent + $20‚000 of materials). Implicit costs: $22‚000 (= $4‚000 of forgone interest + $15‚000 of forgone salary + $3‚000 of entreprenuership). Accounting profit = $35‚000 (= $72‚000 of revenue - $37‚000 of explicit costs); Economic profit = $13‚000 (= $72‚000 - $37‚000 of explicit costs - $22‚000 of implicit costs). 8-4 (Key Question) Complete the following table by calculating
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The decision making biases greatly impacted the decisions made by those involved in the oil spill. Between both organizations‚ BP and Transocean‚ and there inability to agree and make adjustments caused BP to be publicly criticized. The cognitive bias‚ overconfidence‚ is explained by the Business Insider as being “too confident” about one’s abilities. (Lee & Leibowitz‚ 2015). The worker’s on the rig presented this specific bias when making decisions. When the data examined revealed warning signs
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Business (UKM-GSB-LHDN) Cost Classification: Government Agency PROBLEM 2-56 The Department of Natural Resources is responsible for maintaining the state’s parks and forest lands‚ stocking the lakes and rivers with fish‚ and generally overseeing the protection of the environment. Several cost incurred by the agency are listed below. For each cost‚ indicate which of the following classifications best describe the cost. More than one classification may apply to the same cost item. The Answers
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done above is a “full-cost” analysis. This is in contrast to a “direct-cost” analysis that ignores overhead costs. Is full cost the right metric for job profitability and customer profitability? What assumptions are we making about the variability of overhead costs when we do a “full-cost” analysis? By allocating the overhead costs to jobs and customers there is an implicit assumption that these are variable with the cost driver. In reality‚ some of the overhead costs are fixed‚ at least in the short
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2.3 Conceptual Framework. The following conceptual framework will be used for this study: Independent Variables Dependent Variable Figure 2.1: Conceptual Framework (Source: Author‚ 2016) 2.3.1 Credit Information Sharing /Symmetry. CRBs are a typical response to information asymmetry problems between lenders and borrowers which is usually there between the lender and the borrower about the
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types of mindsets‚ a fixed mindset and‚ a growth mindset. Our mindsets change if we want them to. We need to be aware of the thoughts we have about ourselves. What does your inner voice sound like? If you are negative in your thoughts about yourself
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THE FUTURE OF OIL Contents 1. Extreme oil--from the deep Atlantic to the arctic‚ from fracking in the U.S. to sands in Canada--is replacing dwindling supplies. But it comes at a heavy economic and environmental cost 2. The Bakken Boom 3. Boom and Bust 4. The True Price of Oil 5. OIL ON THE EDGE 6. TIGHT OIL 7. ARCTIC OFFSHORE 8. PRESALT DEEPWATER 9. OIL SHALE 10. OIL SANDS 11. HOW SPIKING OIL AFFECTS YOU 12. A RECORD PRICE FOR REGULAR 13. INCOME
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| | BP p.l.c. (BP) is one of the largest vertically integrated oil and gas companies in the world. Its operations include the exploration and production of natural gas and crude oil; refining of crude oil; manufacturing of petroleum products; marketing of refined products; construction and mining; and transportation of crude oil. It is also involved in the marketing and trading of gas and power‚ marketing of liquefied natural gas (LNG)‚ natural gas liquids (NGLs) and low-carbon power generation
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wrong. The biggest concern by environmentalist is not a spill‚ but the pollution of the air and water‚ damage to the ocean bottom and debris that washes ashore from day-to-day operations of oil and gas rigs. Oil Drilling can lead to jobs being endangered‚ animals dying‚ and damaging the eco system. So many animals are dying because of the oil in the water. Proofread to- Government wildlife experts have found just in Alaska that the BP oil spill has threatened more than 400 species including 34‚000
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