ineffective spending around the globe‚ lawmakers looking for cost-saving measures would do well to turn to prisons. Prison reform must attain the lowest economic costs‚ lowering actual taxpayer dollars spent without giving up the benefits of attaining important social goals‚ which represent another form of cost when lost. Undoubtedly‚ the current prison system is doing little to separate the US from its international counterparts in minimizing such cost‚ yet prison privatization has yielded hopeful results
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1. Discuss internal‚ domestic and global environments of business revealed by this case. Answer: Internal/domestic environments a) The business decision making process in Indian govt. sector is pretty slow which leads to unnecessary loss of time and money. In this case‚ the slow process lead the to loss of opportunity to buy a firm (premier Oil) b) There are much more than required levels of clearances that needs to be taken to acquire a company abroad. Application is reviewed
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MANAGERIAL AND COST ACCOUNTING LARRY M. WALTHER & CHRISTOPHER J. SKOUSEN DOWNLOAD FREE TEXT BOOKS AT BOOKBOON.COM Managerial and Cost Accounting © 2009 Larry M. Walther‚ under nonexclusive license to Christopher J. Skousen & Ventus Publishing ApS. All material in this publication is copyrighted‚ and the exclusive property of Larry M. Walther or his licensors (all rights reserved). ISBN 978-87-7681-491-5 Download free books at BookBooN.com 2 Managerial and Cost Accounting
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Discuss the opportunity cost of getting your MBA. What steps and economic factors must a student make when choosing between getting a degree and taking another route in life? Feel free to include aspects from your own decision to pursue your MBA. When considering to starting an MBA program‚ there are many questions that you have to ask yourself. Can I afford the program? Will it help me to become more marketable in the job industry? Will I have time to dedicate into completing coursework?
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Cost allocation for indirect costs Cost Pool – Set of costs that are added together before being allocated to cost objects on some common basis Cost Driver/ Allocation base Cost Object Cost Driver Rate = Total Costs in Pool/ Total Quantity of Driver Where total quantity of driver = practical capacity of driver Cost of excess capacity = Cost Driver Rate * Excess capacity Predetermined overhead rate - cost per unit of the allocation base used to charge overhead to products. Predetermined
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Cost Classification Introduction: In this assignment I will be discussing how costs incurred in any organization may be classified in a number of different ways for a number of different purposes. I will also be looking to find companies that use a variety of different costing techniques and methods. I will also be discussing the comparisons between marginal and absorption costing and how the concept of activity based costing can also be compared with these. To complete the assignment I will
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Conceptual Framework Cost Accounting Cost accounting‚ as a tool of management‚ provides management with detailed records of the costs relating to products‚ operations or functions. Cost accounting refers to the process of determining and accumulating the cost of some particular product or activity. It also covers classification‚ analysis and interpretation of costs. The cost so determined and accumulated may be the estimated future costs for planning purposes‚ or actual (historical) costs for evaluating
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Case Study Inventory The Cost of Inventory The general principle for cost inclusion into inventory for US GAAP and IFRS is similar but not exactly the same. First let us look at US GAAP. The basis of accounting for inventories is “cost‚” which is explained in ASC 330-10-30 paragraph 1 as “the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location.” These costs are divided into two different categories‚ the
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Cost Behavior Cost behavior is term for describing whether a cost changes when the level of output changes. The cost can vary proportionately with the changes in the level of activity or unaffected by changes in the level of activity. Costs can be variable‚ fixed‚ or mixed. A cost that does not change in total as output changes is a fixed cost. A variable cost‚ on the other hand‚ increases in total with an increase in output and decreases in total with a decrease in output. Understanding how costs
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Sunk Cost-cost that has already been incurred and cannot be avoided no matter what a manager decides to do. A business segment should only be dropped if a company can avoid more in fixed costs than it loses in: contribution margin Which of the following techniques describe how a bottleneck should be managed: Find ways to increase the capacity of the bottleneck‚ ensure there is minimal lost time at the bottleneck due to breakdowns and set-ups‚ focus business process improvement efforts on the bottleneck
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