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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CHAPTER 1 IMPORTANCE OF QUALITY Quality is the business of doing business —Anonymous The importance of quality‚ be it in product or service‚ cannot be overemphasized. Just study some of the tips given from time to time to make matters easier for everyone. For instance‚ Indian Government’s Postal Department‚ one of the most extensive‚ popular and efficient in the world issues guidelines such as “PIN Code helps speed up your mail. If the PIN Code in your address is missing or inaccurate‚ please send
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OPERATIONS MANAGEMENT Chapter 17 QUALITY MANAGEMENT Chapter 17 Quality Management Benefits of Quality Control I. II. Minimum scrap or rework due to reduced defectives. Reduced cost of labour and material as a result of reduced defectives. III. Uniform quality and reliability of product help in increasing sales turn over. IV. Reduced variability resulting in-higher quality and reduced production bottle necks. V. Reduced inspection and reduced inspection costs. VI. Reduced customer complaints
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Cost management | Wilkerson Company Case | | 1. What is the competitive situation faced by Wilkerson? The competitive situation faced by Wilkerson is quite severe. Price cutting in its main product has led to a huge drop in profit. While price increase in another product line partially made up the loss. We will discuss the detailed situation line by line. (1) Valves It was the first product line developed by Wilkerson and its high quality brought it a loyal customer base. Even
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manufacturing cost categories. LO2 Distinguish between product costs and period costs and give examples of each. including calculation of the cost of goods sold. LO4 Prepare a schedule of cost of goods manufactured. LO5 Understand the differences between variable costs and fixed costs. LO6 Understand the differences between direct and indirect costs. LO7 Define and give examples of cost classifications used in making decisions: differential costs‚ opportunity costs‚ and sunk costs. LO8
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The Quality Walk Beth Stuart went on a tour to evaluate a potential supplier’s facility before her company‚ Epic Communications‚ entered into a long term contract for 1.2 million high speed communications circuit boards. Her tour guide was Michael Spade‚ VP of manufacturing for PushTel. If the relationship proved beneficial to both parties‚ follow-up contracts would be negotiated each year thereafter. Beth noticed during her walk that employees were disappearing into their offices and down connecting
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Biyani’s Think Tank Concept based notes Cost Accounting [ B.Com. Part-II] B.N. Gaur MBA‚ PGDBM‚ Lecturer Deptt. of Commerce & Management Biyani Girls College‚ Jaipur Fore more detail:- http://www.gurukpo.com Published by : Think Tanks Biyani Group of Colleges Concept & Copyright : ©Biyani Shikshan Samiti Sector-3‚ Vidhyadhar Nagar‚ Jaipur-302 023 (Rajasthan) Ph : 0141-2338371‚ 2338591-95 • Fax : 0141-2338007 E-mail : acad@biyanicolleges.org Website :www.gurukpo.com; www
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Juran changed himself from a poor Romanian immigrant into a world renowned quality control expert. He has had a varied successful career as an engineer‚ as a writer‚ as an educator and as a consultant. Juran has been called the “father” of quality‚ a quality “guru” and the man who “taught quality to the Japanese.” Juran has expanded the philosophies of quality from its statistical origins to what is now known as Total Quality Management. This paper contains a short summary of this great man’s achievements
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Cost/Benefit Analysis Evaluating Quantitatively Whether to Follow a Course of Action You may have been intensely creative in generating solutions to a problem‚ and rigorous in your selection of the best one available. However‚ this solution may still not be worth implementing‚ as you may invest a lot of time and money in solving a problem that is not worthy of this effort. Cost Benefit Analysis or CBA is a relatively* simple and widely used technique for deciding whether to make a change. As its
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Quality of Work Life Quality of work life (QWL) is viewed as an alternative to the control approach of managing people. The QWL approach considers people as an ’asset’ to the organization rather than as ‘costs’. It believes that people perform better when they are allowed to participate in managing their work and make decisions. This approach motivates people by satisfying not only their economic needs but also their social and psychological ones. To satisfy the new generation workforce‚ organizations
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