Cost Concepts for Managerial Decision Making Prepared for instructional use in Economics For Managers ECG 507 College of Management North Carolina State Universiy © Stephen E. Margolis 2000 Soon we will be using the concepts of cost that are presented in Landsburg’s chapters five and six to analyze market behavior of firms. With a bit of interpretation‚ however‚ these concepts have immediate application to ordinary decisions that
Premium Costs Marginal cost
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
Premium Variable cost Total cost Marginal cost
ACC 491 Final Exam Copy this link to your browser and download: http://www.finalexamguide.com/ACC-491-Final-Exam-270.htm 1) If reported sales for 2010 erroneously include sales that occur in 2011‚ the assertion violated on the 2010 statements would be 2) The rights and obligations assertion applies to 3) Which of the following assertions is NOT made by management in placing an item in the financial statements? 4) Section 11 of the Securities Act of 1933 uses the term material fact
Premium Auditing Audit
manufacturing or trading‚ require cost accounting to track their activities.[1] Cost accounting has long been used to help managers understand the costs of running a business. Modern cost accounting originated during the industrial revolution‚ when the complexities of running a large scale business led to the development of systems for recording and tracking costs to help business owners and managers make decisions. In the early industrial age‚ most of the costs incurred by a business were what modern
Premium Management accounting Costs Cost accounting
Cost Classifications Consult Ch. 6 & 7 of Health Care Finance and other sources to complete the form. This worksheet requires you to match the definitions and examples of types of cost‚ and the types of centers where costs occur. Part 1: For each term in Column A‚ select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the term. Column A f 1. Indirect costs a 2. Direct costs d 3. Fixed costs i e h b c g 4. Variable
Premium Costs Budget Nursing
make long-term investments in new product lines‚ new equipment and other assets‚ managers must know the cost of obtaining funds to acquire these assets. The cost associated with different sources of funds is called the cost of capital. . If the business earns more than its cost of capital‚ the market value of the business will increase. Likewise‚ if returns on long-term investments are below the cost of capital‚ market values will decline. Therefore‚ how we manage capital is extremely important to fulfilling
Premium Interest Capital structure Pharmaceutical industry
CULTURAL VARIABLES INFLUENCING BEHAVIOR Many variables influence the behavior of individuals within a culture (Sanchez-Boyce‚ 1993). The manner in which services are provided may be influenced by general cultural practices in combination with variables unique to the individual (Anderson‚ 1994; Payne‚ 1995)‚ Thus‚ professionals must understand not only general characteristics of various cultural groups‚ but also the variables that interact to make each student and family unique within that cultural
Premium Culture Immigration to the United States Immigration
PENENTUAN HARGA POKOK PRODUKSI Metode Variable Costing & Full Costing Perbandingan Metode Full Costing dengan Metode Variable Costing. Full Costing Yakni merupakan metode penentuan harga pokok produksi‚ yang membebankan seluruh biaya produksi baik yang berperilaku tetap maupun variabel kepada produk. Dikenal juga dengan Absortion atau Conventional Costing. Perbedaan tersebut terletak pada perlakuan terhadap biaya produksi tetap‚ dan akan mempunyai akibat pada : 1. Perhitungan
Premium
Experimental Procedures Independent Variable The independent variable is the factor that is being altered to produce a result. There are two independent variables in this experiment which are the brand of dishwashing detergent; Palmolive‚ Morning Fresh and Ultra Coles Brand and the type of bacteria used which are; Micrococcus Luteus and an unknown bacteria from a sponge. Dependent Variable The dependent variable is the factor that is being tested which is the size of the zone of inhibition from
Premium Water Mathematics Experiment
Biyani’s Think Tank Concept based notes Cost Accounting [ B.Com. Part-II] B.N. Gaur MBA‚ PGDBM‚ Lecturer Deptt. of Commerce & Management Biyani Girls College‚ Jaipur Fore more detail:- http://www.gurukpo.com Published by : Think Tanks Biyani Group of Colleges Concept & Copyright : ©Biyani Shikshan Samiti Sector-3‚ Vidhyadhar Nagar‚ Jaipur-302 023 (Rajasthan) Ph : 0141-2338371‚ 2338591-95 • Fax : 0141-2338007 E-mail : acad@biyanicolleges.org Website :www.gurukpo.com; www
Premium Costs Marginal cost Variable cost