adequately informed of the risks? And are the risks acceptable and reasonable? One would not wonder or think that being a Navy Recruiter would be a dangerous job. On the contrary‚ most people would see Recruiting as a safe profession‚ especially when comparing them to
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Cost Theory in Economics A central economic concept is that getting something requires giving up something else. For example‚ earning more money may require working more hours‚ which costs more leisure time. Economists use cost theory to provide a framework for understanding how individuals and firms allocate resources in such a way that keeps costs low and benefits high. 1. Function * Economists view costs as what an individual or firm must give up to get something else. Opening a
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‚ Rose Perez‚ noticed that while small retail customers flocked to the bank‚ the number of business customers was declined. Columbia City Bank’s costing system‚ develop back in 1988‚ is straightforward. No costs are traced directly to customers. The bank simply assigns the total indirect costs to customer lines (retail customer line or business customer line) based on the total number of checks processed. The definition of a retail customer is basically any customer other than an institutional customer
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different quality material from standard; Buying materials from a non‑usual source due to urgency; Utilising different labour from standard; Price changes due to economic conditions; scarcity of supplies; Choosing to incur additional discretionary fixed costs; More (or less) overtime hours used than budgeted. 2. Efficiency/usage/quantity variances: Standard is out of date‚ set without due care; Inefficient use of material/labour‚ deliberate or otherwise; Poor supervision/equipment/maintenance.Changes in
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product costs are the direct materials‚ and manufacturing overhead that are involved in acquiring or making products. Products costs are assigned to an inventory account on the balance sheet and considered to be assets. When the goods are sold‚ the costs are released from inventory and are recognized as expenses in the income statement. Period costs are all the costs that are not included in product cost‚ such as advertising‚ executive salaries‚ and other nonmanufacturing costs. These costs are expenses
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Cost Classifications for Decision-Making. Every decision involves choosing from among at least two alternatives. Only those costs and benefits that differ between alternatives are relevant in making the selection. This concept is explored in greater detail in the chapter on relevant costs. However‚ decision-making contexts crop up from time to time in the text before that chapter‚ so it is a good idea to familiarize students with relevant cost concepts. 1. Differential Costs. A differential cost
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Recruiting RV Surveyors SWOT Strengths – Promote internally - Thorough planning Weaknesses – Little experience in contract bids - HR Manager has no staffing skills Opportunities – Well established company that is well known in the auto industry Threats – Unstable - dependent on sales trends in auto industry How would you recruit the needed employees? To fill surveyor positions I would go to colleges in the areas we are surveying and see if I could recruit from a pool of people ready and
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Behavioral Costing British Aerospace case study A. Introduction When we think about the cost of an aircraft‚ we tend to think of the cost of buying the product rather than the costs of running it! British Aerospace’s service to the customer does not stop at the aircraft acquisition stage‚ when the airplane is sold to the customer. If anything‚ this is when the customer relationship begins. This case study focuses upon the processes involved in behavioral costing aircraft components. Given
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physical product characteristics and the strategy of the producer company Stanimir Andonov* The article discusses the differentiation among the product offers of companies working in the global markets‚ as well as the strategies which they use and could use in that respect. The main idea of the paper is that the principle “differentiate or die” (Jack Trout) has died. Today the global brands don’t strive to differ from their competitors in everything and at any cost. As an example‚ let’s have a global
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IACSIT Press‚ Singapore Competitive Pricing Strategies of Low Cost Airlines in the Perspective of Game theory Lim Seng Poh+ and Mohd. Ghazali bin Mohayidin Open University Malaysia Abstract. Price is the weapon of choice for many low cost airlines in the competition for market share. Regional low cost airlines’ pricing strategy for market stimulation is issuing free tickets and competing in ticket prices setting. It has been assumed as an effective strategy in influencing customers’ purchasing decision
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