Microeconomics Topic 6: “Be able to explain and calculate average and marginal cost to make production decisions.” Reference: Gregory Mankiw’s Principles of Microeconomics‚ 2nd edition‚ Chapter 13. Long-Run versus Short-Run In order to understand average cost and marginal cost‚ it is first necessary to understand the distinction between the “long run” and the “short run.” Short run: a period of time during which one or more of a firm’s inputs cannot be changed. Long run: a period of time during which
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© Copyrights 2013 APSS. All Rights Reserved © Copyrights 2013 APSS. All Rights Reserved. 2 Three men are guessing the color of a horse… A: I guess it’s not black. B: It’s either brown or gray. C: I know it’s brown. How many animals of each species did Moses take with him in the Ark? At least one of them is right and at least one of them is wrong. What is the color of the horse? © Copyrights 2013 APSS. All Rights Reserved 3 How to draw a star by using five straight
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Cost Accounting: A Managerial Emphasis‚ EXHIBIT 11-1 Accounting Information and the Decision Process FIVE-STEP SEQUENCE Step 1: Gathering Information AN ILLUSTRATION The current manufacturing line uses 20 employees‚ 15 operating machines‚ and 5 handling materials‚ for a total cost of $640‚000. The rearrangement of the manufacturing assembly line is expected to eliminate materials-handling costs‚ equivalent to $160‚000. The cost of the rearrangement will be $90‚000. Historical
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MANAGEMENT ACCOUNTING Information for Decision-Making and Strategy Execution SIXTH EDITION Anthony A. Atkinson University of Waterloo Robert S. Kaplan Harvard University Ella Mae Matsumura University of Wisconsin–Madison S. Mark Young University of Southern California Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City S~ Paulo Sydney Hong Kong Seoul Singapore
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is not sure about the difference between cost accounting and a cost accounting system. Explain the difference to Joe. (b) What is an important feature of a cost accounting system? 2. (a) Distinguish between the two types of cost accounting systems. (b) May a company use both types of cost accounting systems? 3. What type of industry is likely to use a job order cost system? Give some examples. 4. What type of industry is likely to use a process cost system? Give some examples. 5. Your roommate
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1. Explain the five broad social and emotional aspects of learning. The five areas in social and emotional development are; self awareness‚ managing feelings‚ motivation‚ empathy and social skills. These all play very key roles in a Childs education and how they begin and progressively learn. Self Awareness; self awareness does not only display a Childs understanding of their own identity but how they recognise their own way of learning and taking in information. When considering
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Perera (ACBIT) MBA Programme Preston University USA 2007 "Effective leadership is not about making speeches or being liked; leadership is defined by results not attributes." Peter Druker Two years ago‚ I had an experience with a leader that profoundly shaped the rest of my life. I decided to switch my career into marketing stream from sales & the invitation came to join Finlays Tea Estates. Just few weeks after my initial discussion‚ I met the Chairman of the organization and after
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serving the present student body effectively or (b) restructure the program of studies‚ reconceptualizing the entire curriculum as a completely new program of studies. (Glatthorn & Jailall‚2009‚ p. 77). After reading the textbook‚ "The Principal as a leader‚" chapter 7 and chapter 8‚ as a principal/supervisor as a standard bearer‚ I’ve realized that renewing an existing program will be more effective when implementing standards‚ instructions‚ and an effective curriculum. This is most effective when there
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When we think of a Legacy Leader we think of someone that leaves a lasting impression on a person‚ family‚ group‚ organization‚ country‚ or even the world. It could be someone as simple as a head of a family such as John D. Rockefeller‚ impactful on a nation like Rev. Martin Luther King Jr.‚ or have a worldwide impact such as Gandhi or Adolf Hitler. One thing that a Legacy Leader must have is that the influence he or she exemplifies does not die with that person‚ that it carries on past them‚ past
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Your model should look like this: Now with the cost drivers in place‚ we are ready to calculate Auntie Wuni’s monthly costs. • Leave a row under the Spaghetti: Px/box row and create a subtitle ‘Total Cost of Ingredients’ in cell B28 • Hit Ctrl-B on cell B28 to render the title in bold • Starting from cell B29 and moving downwards‚ populate the cells in this section simply with the name of the ingredients‚ i.e. Oil; Tomatoes; Rice; Pepper; Fish; Cow-leg; Beans; Spaghetti. • Now move the
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