not all cost and revenue data is relevant. The cost data relevant for decision-making is referred to as relevant costs and that which is not useful for decision-making is non-relevant costs. On the revenue side‚ the only relevant revenue is the incremental & differential revenue. Relevant and Non-Relevant Costs: 1. Future Costs and Sunk Costs (IR): A future cost is that cost yet to be incurred and since the decision is in the future‚ future costs are relevant. A sunk cost is a historical
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is "special" and unique and can only be understood by‚ or should associate with‚ other special or high-status people (or institutions) requires excessive admiration has a sense of entitlement‚ (example‚ unreasonable expectations of especially favorable treatment or automatic compliance with his or her expectations) is interpersonally exploitative‚ (example‚ takes advantage of others to achieve his or her own ends lacks empathy: is unwilling to recognize or identify with the feelings and needs
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VARIANCES IN ATTITUDES ACROSS CULTURES THE ROLE OF GENDER a. DEFINITION: “An attitude is the manifestation of values‚ beliefs‚ feelings‚ and states of mind” (Satterlee‚ 2009‚ p. 51). b. SUMMARY: Birgit Pfau-Effinger of The University of Hamburg in Hamburg‚ Germany recently published an article titled “Women ’s employment in the institutional and cultural context” in the International Journal of Sociology and Social Policy. The author’s intention throughout the paper is to identify the factor(s)
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and Estimation for Population Variances Business Statistics: A Decision-Making Approach‚ 7e © 2008 Prentice-Hall‚ Inc. Chap 11-1 Chapter Goals After completing this chapter‚ you should be able to: Formulate and complete hypothesis tests for a single population variance Find critical chi-square distribution values from the chi-square table Formulate and complete hypothesis tests for the difference between two population variances Use the F table to find critical
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References: Agrawal‚ A.‚ Chadha‚ S.‚ 2005. Corporate governance and accounting scandals. Journal of Law and Economics 48‚ 371–406. Anderson‚ R.C.‚ Mansi‚ S.A.‚ Reeb‚ D.M.‚ 2004. Board characteristics‚ accounting report integrity‚ and the cost of debt. Journal of Accounting and Economics 37‚ 315–342. Asian Corporate Governance Association‚ 2000. Building Stronger Boards and Companies in Asia‚ A Concise Report on Corporate Governance Policies and Practices. Ball‚ R.‚ Robin‚ A.‚ Wu‚ J.‚ 2003
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From: Candidate Subject: New Look Jackets Variance Analyses and Draft Operating Budget Introduction The following report explains the significance and reasons for the variances in New Look Jacket’s 2012 detailed variance report and provides a draft operating budget for 2013. Analysis of Variances The sales price variance is zero‚ meaning the average price New Look Jackets sold products was the same as the budgeted sales price. The sales mix variance is unfavourable for Nylon Jackets and favourable
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6&7 – Variance analysis Variance analysis: Reason for variance: 1.Price/rate/spending variances: Standard is out of date; Standard set without due care; Efficient or inefficient buying (e.g.‚ discounts); Buying 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
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Case Problem Air Force Training Program An Air Force introductory course in electronics uses a personalized system of instruction whereby each student views a videotaped lecture and then is given a programmed instruction text. The students work independently with the text until they have completed the training and passed a test. Of concern is the varying pace at which the students complete this portion of their training program. Some students are able to cover the programmed instruction text relatively
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shortfall. Based on his analysis‚ he will explain this variance fully and make recommendations to senior management. Analysis of Loss The rates and the number of units sold determine planned and actual result differences‚ representing the variance. Variances are used in performance evaluation to determine areas that are performing differently than expected. As noted in chapter seven‚ focusing on understanding what caused the variances allows managers to more completely handle what is happening
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3 Cost-Volume-Profit Analysis Learning Objectives 1. Explain the features of cost-volumeprofit (CVP) analysis 2. Determine the breakeven point and output level needed to achieve a target operating income 3. Understand how income taxes affect CVP analysis 4. Explain how managers use CVP analysis in decision making 5. Explain how sensitivity analysis helps managers cope with uncertainty 6. Use CVP analysis to plan variable and fixed costs 7. Apply CVP analysis to a company producing multiple
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