Corporation is the world’s largest chain of fast-food restaurants. They’ve proudly served more than 46 million customers in 59 different countries and currently have more than 30‚000 different locations worldwide. The fast food industry is booming at a rapid rate‚ especially the health conscious food options. With this in mind‚ McDonald’s has a strategic plan to stay on top of their competitors by providing consumers with affordable prices‚ great service‚ and more healthy meal options. McDonald’s is
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11 Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
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Cost reduction Generally defined as the act of cutting costs to improve profitability. Cost reduction‚ should therefore‚ not be confused with cost saving and cost control. Cost saving could be a temporary affair and may be at the cost of quality. Cost reduction implies the retention of essential characteristics and quality of the product and thus it must be confined to permanent and genuine savings in the costs of manufacture‚ administration‚ distribution and selling‚ brought about by elimination
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PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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Plant overhead $122‚000 D/L rate/hour $30 Youngstown has a traditional cost system. It calculates a plant-wide overhead rate by dividing total overhead costs by total direct labor hours. Assume‚ for the calculations below‚ that plant overhead is a committed (fixed) cost during the year‚ but that direct labor is a variable cost. 1. Calculate the plant-wide overhead rate. Use this rate to assign overhead costs to products and calculate the profitability of the four products. The assignment
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Kong Post: Hong Kong HRI Food Service Sector Annual 2014 Report Categories: Food Service - Hotel Restaurant Institutional Approved By: Erich Kuss Prepared By: Chris Li‚ Annie Lai Report Highlights: Hong Kong food service sector recorded modest growth in 2013‚ with restaurant receipts reached US$12.4 billion‚ an increase of 3.5% over 2012. Hong Kong imports of high value food products from the U.S. reached US$4 billion in 2013‚ consolidating our position as the leading food supplier to Hong Kong. It
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Logistics Operation Contents Executive Summary 3 Company profiles: 3 Tesco Plc: 3 Sainsbury: 4 Analysis of logistic operations of TESCO: 4 Logistics in practice: 4 Logistics replenishment policy: 5 Transportation model for national and global operations: 6 Analysis of logistics of operation of SAINSBURY: 7 Logistics practices: 7 Logistics replenishment policy: 8 Transportation model for national and global operations: 8 Comparative
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Executive Summary: The standard of operations plays a vital role in any business. To obtain maximum positive results‚ set procedures are a must. I have chosen Pizza Hut because it is one of few brands which serve all around the globe. Pizza hut have their set operation procedure to make sure they meet customer’s satisfaction to the maximum. This report includes Pizza hut’s supply chain management‚ inventory‚ product and service design‚ production process‚ planning and controlling‚ and quality management
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AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724 AN ISO 9001 : 2000 CERTIFIED INTERNATIONAL B-SCHOOL SUBJECT : INTERNATIONAL FINANCE MANAGEMENT COURSE : CASE STUDY : 1 Total Marks : Following are the data for India’s B.O.P. Year 2004-05 Merchandise Exports Merchandise Imports Income on Travel‚ Transportation MIS Payments on Travel‚ Transportation MIS Receipts for Maintenance of Embassies Payments for Maintenance of Embassies Unrequired Transfer Received Unrequired Transfer Outwards
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Fundamentals of Operations Management for Manufacturing and Service Industries | Note. Answers to questions appear on the last page of this document. • 1. Which of the following factors account for the interest in organizational management? a. Quality improvements b. Current problems/opportunities c. Inventory costs d. Customer satisfaction e. All of the above 2. Operations management is defined as the design‚ operation‚ and improvement
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