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‚
Premium Costs Variable cost Cost
------------------------------------------------- ASSIGNMENT ON COST CONTROL AND COST REDUCTION ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- -------------------------------------------------
Premium Cost Costs Cost accounting
Training and Learning Standards A checklist and tool for developing and implementing high-quality training and learning interventions October 2012 INTRAHEALTH INTERNATIONAL i © 2012 IntraHealth International‚ Inc. IntraHealth International is a leader in supporting the development of an effective health workforce. We are committed to working toward the goal of people everywhere having access to qualified‚ supplied‚ and supported health workers who can provide essential health care
Premium Learning Skill
INTERNATIONAL B-SCHOOL SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000
Premium Costs Variable cost Cost
"Coffee‚ Tea‚ or Opium?" In "Coffee‚ Tea‚ or Opium‚" the authors main point is that even at this point in history some rulers felt that drug importation throughout other countries was immoral for their economic and social status. China’s commissioner for foreign trade‚ Lin Zexu wanted to stop the illegal importation of opium into his country. Lin saw that the opium trade was damaging the publics health and was bleeding China of its wealth. The emperor of Manchu had given Lin extensive power and
Premium Opium Drug addiction Heroin
5 / ¼.5= .67%/ 22%= 3.05 Ch 22 #7 1. Key Question A firm has fixed costs of $60 and variable costs as indicated in the table on the following page. Complete the table and check your calculations by referring to question 4 at the end of Chapter 23. 1. Graph total fixed cost‚ total variable cost‚ and total cost. Explain how the law of diminishing returns influences the shapes of the variable-cost and total-cost curves Graph AFC‚ AVC‚ ATC‚ and MC. Explain the derivation and shape of each
Premium Costs Variable cost Total cost
← Muon ← Is created when a neutrino collides and combines with an H2O proton (weak force) ← Creates blue light ← High energy; travels faster than the speed of light (in water) ← Neutrino ← Type of particle: Lepton (like electrons and muons) ← Most abundant particle in the universe ▪ 1016 neutrinos are passing through your body at any point in time ← Theoretically discovered by Wolfgang Pauli (1930); actually discovered in 1955 ← Produced during nuclear reaction or changes
Free Atom Electron
11 Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
Premium Revenue Costs
Year 9 Science SELF-EVALUATION – Term 1 For your continued development in Science it is important we set goals and evaluate our study behaviours and performance. Your honesty is much appreciated for the continued improvement in teaching and learning. Name: ______Zac Malone___________________ NOTE: 1 – Very Low 10 – Very High How hard did I work at achieving my science goal for term 1 1……………………3……………………………………………………………….……….10 Did I continually evaluate my study habits
Premium Java Learning Psychology
1. The sociological perspective‚ as a way of thinking about the world‚ includes the sociological imagination from C. Wright Mills‚ the beginner’s mind from Bernard McGrane‚ and the idea of culture shock from anthropology. Explain what all three of these concepts have in common. Response: All three of these concepts have in common are the idea of breaking down social barriers to gain a different perspective on culture people and behaviors. When a person is in a new area where the culture is different
Premium Sociology