Compare assigned costs per product under both methods. Why has Activity-based costing changed the total costs assigned to each product? By comparing the two cost assigned methods‚ there are some differences existed: Unit Product Cost: | Gadgets | Smidgets | Smadgets | Smadgets | Traditional Costing Method | 400 | 1‚000 | 1‚350 | 850 | Activity-Based Costing Method | 590 | 1‚100 | 760 | 1‚250 | Overhead Cost | Widgets | Gadgets | Smidgets | Smadgets | Traditional Costing Method | 200‚000 |
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SOCIO ECONOMIC STUDY -serves as an aid in determining the socio economic contributions the project/business can offer. -attempt to determine economic impacts on society or GNP. - Based on the fact that the enterprise is an organ of society and that its actions have a decisive impact on the social scene. -Any business‚ in the present world situation‚ has the responsibility to make its best contribution to the defensive strength of its country. -the business must consider its impact upon society. It
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KODAK FUNTIME ANALYSIS 1. Diagnosis of the reasons for Kodak’s market share loss and assessment of likely development of the market if Kodak maintained the status quo. Answer: Kodak had been experiencing a loss on market share from 76% to 70% over the past five years‚ which was caused by the action of its competitors like Fuji Photo Film Co. and Konica Corp.‚ wooing consumers with low-priced versions. If Kodak did nothing to deal with the situation‚ either in pricing or creating something
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1. Kodak Stakeholder Impact Analysis Shareholders The shareholders of Kodak want a good return on their investment. Kodak has been exhausting resources through acquisitions and joint ventures with other companies‚ which leads to decreased shareholder profits. Kodak lost over $1.7 billion in already manufactured cameras and a patent suit where Polaroid sued them for violations on seven of their patents which also led to decreased shareholder profits. Competition was increasing in all areas and
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Chapter 5 Question 6 Page 218 Q = Dresses per week L= Number of labor hours per week Q = L –L2/800 MCL=$20 P= $40= therefore MR=$40 Part A: A firm maximizes profit when it equates MRPL = (MR) *(MPL) = MCL MPL= dQ/dL =1 – L/400 Therefore (40)*(1-L/400) = 20. The solution is L = 200. In turn‚ Q = 200 – (2002/800). The solution is Q = 150. The firms profit is= PQ – (MC)L= ($40) (150) – ($20) (200) = $2‚000 Part B Price increase to $50: Q = Dresses per week L= Number of labor hours
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GM545 Final Exam Study Guide 1. Demand and Supply (TCO A) Know what the law of supply and demand is all about and be able to predict the impact on equilibrium price and/or quantity when supply and/or demand factors change. The interpretation of some basic graphs will be required. 2. Elasticity and Marginal Revenue (TCO B) The label on this question suggests what you need to know. You need to be able to calculate price elasticity of demand and/or supply and be able to interpret it
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Name___________________________________ ESSAY. Write your answer in the space provided or on a separate sheet of paper. 1) For each of the following changes‚ show the effect on the demand curve and state what will happen to market equilibrium price and quantity in the short run. a. Consumers expect that the price of the good will be higher in the future. b. The price of a substitute good rises. c. Consumer incomes fall‚ and the good is normal. d. Consumer incomes fall‚ and the good
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PAPER - 2 BUS529AO2- MANAGERIAL ECONOMICS PROFESSOR: Dr. JOHN THEODORE RIVIER UNIVERSITY KARTHIK GIRIDHAVAR Problem 1 Gomez runs a small pottery firm. He hires one helper at $12‚000 per year‚ pays annual rent of $5000 for his shop‚ and spends $20‚000 per year on materials. He has $40‚000 of his own funds invested in equipment (pottery wheels‚ kilns‚ and so forth) that could earn him $4000 per year if alternatively invested. He has been offered $15‚000 per year to work as a potter for a competitor
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CHAPTER 1 Managerial Accounting ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives *1. Explain the distinguishing features of managerial accounting. Identify the three broad functions of management. Define the three classes of manufacturing costs. Distinguish between product and period costs. Explain the difference between a merchandising and a manufacturing income statement. Indicate how cost of goods manufactured is determined. Explain the difference
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WHY STUDY ECONOMICS? Students take economics courses for all kinds of reasons. • TO UNDERSTAND THE WORLD BETTER Applying the tools of economics can help you understand global and cataclysmic events such as wars‚ famines‚ epidemics‚ and depressions. But it can also help you understand much of what happens to you locally and personally—the worsening traffic conditions in your city‚ the raise you can expect at your job this year‚ or the long line of people waiting to buy tickets for a popular
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