COST ANALYSIS Prepared by: Nebuchadnezzar Rabaya OBJECTIVES To provide a basic understanding of the nature of cost analysis. To give highlights on the importance of cost analysis on any venture. To present a clear overview on various types of costs. Cost Definition: an amount that has to be paid or spent to buy or obtain something. Analysis Definition: is the process of breaking a complex topic or substance into smaller parts to gain a better understanding of it. What is cost analysis
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In the books of a Company Cost Sheet for the period ended…….. Units Produced….. Name of the product unit sold…. Particulars Total cost Rs. Unit Cost Rs. Opening stock raw materials Add Purchases of Raw Materials Add: Expenses on Purchases of Raw Materials (octroi & duty) Less: Closing stock of raw materials Less: Sale of scrap or defectives of raw materials = Cost of materials consumed Add: Productive Labour Add: Outstanding wages Add: Direct Expenses( architect’s
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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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Lesson-13 Elements of Cost and Cost Sheet Learning Objectives • • • To understand the elements of cost To classify overheads on different bases To prepare a cost sheet Elements of Cost Raw materials are converted into finished products by a manufacturing concern with the help of labor‚ plants etc. The elements that constitute the cost of manufacturing are known as elements of cost. The elements of cost include the following: • • • Material Labor Expenses Each of these elements is again subdivided
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Arzaga‚ Eunisse C. BSA1FHC APPLICATION OF BIOTECHNOLOGY Medicine In medicine‚ modern biotechnology finds applications in areas such as pharmaceutical drug discovery and production‚ pharmacogenomics‚ and genetic testing (or genetic screening). Pharmacogenomics (a combination of pharmacology and genomics) is the technology that analyses how genetic makeup affects an individual’s response to drugs. It deals with the influence of genetic variation on drug response in patients by correlating gene expression or single-nucleotide
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OPERATIONAL AUDITING: ACCT 476 / CCAU 525 Internal Auditing in Not-For-Profit Organizations TABLE OF CONTENTS ABSTRACT: .....................................................................................................................................................................2 INTRODUCTION ..............................................................................................................................................................2 SECTION I: CORPORATE GOVERNANCE
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Maximizing Profits in Market Structures The subject matter of competitive markets can be complex with many extraneous details that can make all the difference between being a perfect competition‚ monopolistic competition‚ a monopoly‚ or an oligopoly. Each of these types of markets have specific characteristics and economic market effects that include entry barriers‚ price and output determination to produce the most profits for any given business or company. Even though these differences may
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Essay 2 Draft Research Plan for “Benefits of having Same-Sex Schoolsâ€? I would first like to reflect on my topic. The main focus of the paper is to point out the advantages and benefits of having same-sex schools. Since I am for same-sex schools‚ the first sentence of the introduction will be general. I will quote a strong general statement that will grab the reader’s attention and make them want to read more without getting bored. After that‚ I am planning on including one or two
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Name Address M. 000000000 Date 12/4/2014 Respected Sir‚ Re: Application for the post of Electrical Engineer In response to your advertisement on Seek.com‚ I believe I am an excellent candidate for the role of Electrical Engineer. I have the ability to deliver high-level projects on time and within budget. I thrive on a job well done and would love to join your team. I have a Bachelor of Electrical Engineering from the Gujarat Technological University of Gujarat. I have
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would like to apply my candidature for the same. I request your good self to give me an opportunity to prove my capability in your esteemed organization. I assure you that I shall give my best in getting the jobs accomplished. My CV is enclosed herewith for your kind perusal. Expecting a favourable response from your end. Thanking You‚ Yours faithfully‚ Tamanna Patel To‚ Respected Sir/Madam‚ Subject: Job Application request for the position of “Business management
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