KAIZEN COSTING FOR A RESTAURANT ABSTRACT Kaizen is a Japanese term for “continuous improvement” or “continual improvement”. A philosophy that involves making the work environment more efficient and effective. Kaizen aims to eliminate waste such as “activities that adds cost but does not add value”. It also means “to take it apart and put it back together in a better way”. This is then followed by standardization of this ‘better way’ with others‚ through standardized work. The key objectives
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The concept of order-winners and order-qualifiers is originating from an attempt to explain how internal operational capabilities can lead to competitive advantage‚ market success and answer the following : - What drives customers in buying the products manufactured by a company at all. - What makes customers purchase a certain product instead of a similar one manufactured by a competitor. In order for customers to purchase a product a car for example it needs to meet a set of minimum requirements
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Variance Analysis (materials‚ labor‚ and overhead) Determination of Standard and Actual Data The production data of Long Company for the month of June show the following: Total Manufacturing Cost Variance P 3‚840 UF Price Usage Variance 1‚600 UF Material Cost Variance 440 UF Labor Cost Variance 4‚200 F Labor Rate Variance 8‚400 F Other Data: • The company paid P0.10 more than the standard price. • Two (2) pieces of materials are required per unit of product. • An overabsorbed
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VARIABLE COSTING Learning Objectives 1. Explain the accounting treatment of fixed manufacturing overhead under absorption and variable costing. 2. Prepare an income statement under absorption costing. 3. Prepare an income statement under variable costing. 4. Reconcile reported income under absorption and variable costing. 5. Explain the implications of absorption and variable costing for cost-volume-profit analysis. 6. Evaluate absorption and variable costing. 7
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standard costs in a departmentalized factory. Distinguish between actual and applied factory overhead. Standard Costing •The purpose of standard cost accounting is to control costs and promote efficiency. •It is not another accounting method for accumulating manufacturing costs‚ but is used in conjunction with such methods as job order‚ process‚ or backflush costing. •Standard costing is based on predetermination of what it should cost to manufacture a product‚ and the inventory accounts are debited
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LIFE CYCLE COSTING Life cycle costing (LCC) is the process of collecting‚ interpreting and analyzing data and using quantitative tools and techniques to predict the future resources that will be required in any life cycle of a system of interest. LCC can also be defined as a technique to establish the total cost of ownership. It is a structured approach addresses all the elements of this cost and can used to produce a spend profile of a product over its life span. The result of LCC usually
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manufacturing costs: a. Indirect labor b. Indirect material c. Other indirect manufacturing costs. Developing pre-determined overhead rate: Pre-determine overheads are the rates developed by the companies to assign the cost of products before they are completed and shipped. These rates enable the companies to mot to wait foe the actual completion of production. 2. There will be no impact of
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Lab 18 Configuring Remote Connections This lab contains the following exercises cand activities: Exercise 18.1 Configuring a VPN Connection Exercise 18.2 Lab Challenge Connecting to a VPN Server Testing VPN Protocols Exercise 18.1 Configuring a VPN Connection Overview In this exercise‚ you will create a connection that enables the workstation to connect to your server using virtual private networking. Mindset VPNs use tunneling to create secure connections across a public network
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CHAPTER 18 PROCESS COSTING OVERVIEW OF BRIEF EXERCISES‚ EXERCISES‚ PROBLEMS‚ AND CRITICAL THINKING CASES Brief Exercises B. Ex. 18.1 B. Ex. 18.2 B. Ex. 18.3 B. Ex. 18.4 B. Ex. 18.5 B. Ex. 18.6 B. Ex. 18.7 B. Ex. 18.8 B. Ex. 18.9 B. Ex. 18.10 Topic Selecting a cost accounting system Real World: Walmart and J & J Selecting a cost accounting system Understanding cost flows Process costing journal entries Computing equivalent units Computing cost per equivalent unit Solving for missing information Determining
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CI Perp Note 7 The iPremier Company (A): Denial of Service Attack The iPremier Company was founded in 1996 and had evolved into one of thefew success stories of web-based commerce. It also sells luxury‚ rare‚ and vintage goods on the web. In the treacherous business-to-business segment‚ iPremier was one of a few survivors. Although the company was a really successful company in business field‚ during the 75 minute attack‚ iPremier performed very ineffectively and acted negatively‚ which would
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