would be beneficial to remove them from the prison system‚ and into the parole system (D’Elia‚ 2010). Prison Cost Prisons are expensive to keep open‚ and most of the money to keep them open comes from the taxpayers. A study in 2012 showed that prisons cost American taxpayers approximately 5.4 billion dollars each year (Henrichson & Delaney‚ 2012). These cost include various expenses that include maintaining the prisons‚ employees salaries‚ educational training‚ providing benefits for employees
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Jiangsu College of Information Technology International Academy for Business and Administration Logistics cost management Thesis Paper Supervised by: Prof. Dr. Siegfried Harmeling Student’s name: Li Li Student’s number: 05213116 Date: May 31‚ 2008 Synopsis In recent years‚ the logistics industry of China is developing rapidly. Even some big-size enterprises fizz in the first‚ second and third industry. It has become the huge and complex industry. The status of the logistics
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The skyrocketing costs of college can lead a parent to wonder if an investment in higher education still makes sense. This is especially true when the annual cost of attending a private college can easily exceed the annual salary a graduate receives during their first few years of work. For those parents who still have a number of years before their children reach college age‚ doing the math can make the dream of college sound more like a nightmare. For those within a year or two of college‚ the
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2.) Total revenue/night at breakeven 70% x 154‚000 rooms x 365 days = 39‚347‚000 nights $ 158 x 39‚347‚000 nights = $ 6‚216‚826‚000 Revenue and nights generated by members 7‚015‚000 night + (712‚000 stay x 2.4 night) – 180‚000 claimed nights = 8‚543‚800 nights $ 1‚108‚000‚000 + $ 327‚000‚000 = $ 1‚435‚000‚000 Source: pg 562‚ Table B‚ Members’ Paid Activity in 1998. Percentage of nights spent by members over nights at breakeven (8‚543‚000 nights / 39‚347‚000 nights) x 100% = 21.71% Percentage
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You have two types of inventory making up your cost of goods sold: 1. Direct materials: This is the inventory the you purchase to make the products. For example‚ to handcraft a leather purse‚ you may purchase leather‚ zippers‚ snap‚ grommets etc. 2. Work in process: This inventory category includes direct materials that have been partially but not completely made into sellable products - for example‚ your leather purse is missing a zipper closure or straps. Ok‚ now that you understand the two different
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TYPES OF COST AUDIT * Cost Audit to assist Management : The main object of this type of cost audit is to make available accurate‚ relevant and prompt information to management to assist it in taking important managerial decisions. * Cost Audit on behalf of the Government: The government may appoint a cost auditor to conduct cost audit where it is necessary(a) to do so in the opinion of the government under section 233-B of the companies Act‚ 1956; (b) to ascertain correct cost of certain
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Allocate joint product costs according to the benefits-received approaches and the relative market value approaches. 3. Describe methods of accounting for by-products. 4. Explain why joint cost allocations may be misleading in management decision making. 5. Discuss why joint production is seldom found in service industries. This chapter describes the joint production processes and their outputs—joint products and by-products. Several methods are developed to allocate joint costs to joint products
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Subject: Competitive Positioning and Relative Cost A nalysis of the F ast Food Industry This memo discusses competitive positioning and relative cost that determine the fast food fast food industry includes companies who provide quick meals with limited-services through restaurants‚ drive-through stops‚ or takeout express (Exhibit 1a-e). Restaurants produce food from ingredients and semi-manufactured food; they sell each meal with a main dish‚ a beverage‚ and sometime an additional dessert.
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____ 1. A cost is not relevant if it: A. B. C. D. E. Does not differ for each option available to the decision maker. Changes from period to period. Is a future cost. Is a mixed cost. Is a fixed cost. 2. Variable costs will generally be relevant for decision making because they: A. B. C. D. E. Differ between options. Are volume-based. Have not been committed and differ between options. Differ between options and have been committed. Measure opportunity cost. 3. Fixed costs will often be
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Meaning of Cost Accounting Previously‚ cost accounting was considered to be a technique for the ascertainment of costs of products or services on the basis of historical data. In time‚ due to the competitive nature of the market‚ it was realized that ascertaining of cost is not as important as controlling costs. Cost accounting started to be considered more as a technique for cost control as compared to cost ascertainment. Due to the technological developments in all fields‚ cost reduction has
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