1. The chief economist for Argus Corporation‚ a large appliance manufacturer‚ estimated the firm’s short-run cost function for vacuum cleaners using an average variable cost function of the form. AVC= a + bQ+ cQ^2 (the 2 is suppose to be exponent) Where AVC=dollars per vacuum cleaner and Q=number of vacuum cleaners produced each month. Total fixed cost each month is $180‚000. The following results were obtained: Dependent Variable:AVC R-Square
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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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------------------------------------------------- ASSIGNMENT ON COST CONTROL AND COST REDUCTION ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- -------------------------------------------------
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What is Product Quality Control? The process that is used to assure a certain level quality in a service or product is called Quality Control. All businesses are required to implement a quality control and verification of a products and services that they will going to serve or sell. To meet standard requisites and characteristics of a certain products such as dependability‚ durability and satisfaction of the buyer is the main goal of quality control. This method employs an importance on three
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DEFINITION OF QUALITY AND QUALITY MANAGEMENT: Defining quality from the get go can be somewhat difficult as many people have different views on what it means to them. Ranging from the individual’s view to the manufacturing-based perspective. From a workplace point of view‚ quality can be defined as a measure of standard or a condition of being free from imperfections‚ inadequacies and huge varieties. It is achieved by strict and predictable responsibility to specific measures that attain consistency
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following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3‚067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4‚571 B. $3‚757 C. $3‚090 D. $3‚427 Applied manufacturing
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Cost Management or Cost Control In broad sense‚ both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations‚ many times‚ one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits Making
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Materials & Design Materials and Design 28 (2007) 2295–2302 www.elsevier.com/locate/matdes Minimisation of the residual stress in the heat affected zone by means of numerical methods A.G. Olabi b a‚* ‚ G. Casalino b‚ K.Y. Benyounis c‚ A. Rotondo b a School of Mechanical and Manufacturing Engineering‚ Dublin City University‚ Dublin 9‚ Ireland Politecnico di Bari‚ Dipartimento di Ingegneria Meccanica e Gestionale‚ Viale Japigia 182‚ 70126‚ Italy c Industrial Engineering Department
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ARTICLE IN PRESS Journal of Financial Economics 92 (2009) 443–469 Contents lists available at ScienceDirect Journal of Financial Economics journal homepage: www.elsevier.com/locate/jfec Seasoned equity offerings: Quality of accounting information and expected flotation costs$ Gemma Lee a‚ Ronald W. Masulis b‚Ã a b W. Paul Stillman School of Business‚ Seton Hall University‚ South Orange‚ NJ 07079‚ USA Owen Graduate School of Management‚ Vanderbilt University‚ Nashville‚ TN 37203‚ USA
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INTRODUCTION Cost accounting is an important tool in the management of any business firm or organization‚ which includes those in the small scaled industry. In the cause of our research instrument indicated the maintenance of improper and inadequate records coupled with the fact that cost methods used‚ through sometimes effective‚ were unconventional. For a small scale business to approach profit maximization level‚ it must be effective in cost control procedures and appropriate books
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