MARGINAL AND ABSORPTION COSTING Marginal costing is a technique in which production units are valued at marginal cost of production and fixed costs are written off as period costs. It follows that‚ stocks are valued using only the variable cost of production whereas fixed costs are treated as relating to the period and must be taken off in total. Management accounting is based on marginal costing. TERMINOLOGY USED. Gross contribution: Is the difference between sales value and variable costs
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HENNES & MAURITZ INC. GLOBAL MARKET HEADQUATERS: SWEDEN About H & M According to the data published on the official website‚ H&M was established in Vasteras‚ Sweden in 1947 by Erling Persson. At the very beginning‚ when the first store was opened‚ it was actually given the name Hennes (the Swedish word for “hers”) because only women’s clothes were sold there at that time. Later in 1968‚ Erling Persson bought Mauritz Widforss‚ a hunting and gun store in Stockholm. Just from then
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Manual Handling The way procedures are performed The practice of inadequate Manual handling is one of the most frequent risks that many people are approached with in all workplaces. The aim is to provide each individual with the knowledge and skills needed to perform Manual handling in the appropriate ways. We need to identify potential hazards and use the training knowledge to implement strategies to eliminate or reduce the risk to prevent injuries occurring. (Major workplace Hazards
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RESEARCH MANUAL INTRODUCTION Research is an ORGANISED and SYSTEMATIC way of FINDING ANSWERS to QUESTIONS. SYSTEMATIC because there is a definite set of procedures and steps which you follow. There are certain things in the research process‚ which are always done in order to get the most accurate results. ORAGNISED in that there is a structure or a method in going about doing research. It is a planned procedure‚ not a spontaneous one. It is focused and limited to a specific scope. FINDING
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GREETING AND INTRODUCING YOURSELF AND OTHERS Greetings (more formal) * Good morning. * Good morning‚ Sir. * Good morning‚ Madam. * Good afternoon. * Good noon/day. * Good evening. * Goodnight.Greetings (less formal) * Hello‚ how are you? / how are you doing? Very well‚ thank you. What about you? * Hello‚ how are you today? Hello‚ I’m fine‚ thank you. And you? * How is everything? * How’s everything going? * How have you been keeping? *
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Chapter 2 Recording Business Transactions √ Quick Check Answers: 1. a 3. b 5. d 7. d 9. c 2. c 4. c 6. a 8. a 10. b Explanations: 3. b. Owner’s equity is $130‚000 ($50‚000 + $60‚000 + $200‚000 – $80‚000 – $100‚000). 7. d. Supplies balance is $1‚200 ($500 + $700). The payment of accounts payable does not affect supplies. 9. c. Ending equity is $70‚000‚ computed as follows: Beginning owner’s equity…….. $ 50‚000 Add: Net income: Revenues……………….. $110‚000
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Questionnaire Manual handling 1. What is manual handling? a. Pushing‚ pulling‚ bending‚ stretching‚ lifting b. Only lifting c. Using machines d. Any lifting done by a man 2. Which is the Main piece of legislation that applies to manual handling? a. The Electricity at Work Regulations 1998 b. The Provision and Use of Work Equipment Regulations 1998 c. The Manual Handling Regulations 1992 d. The Health and Safety at Work Act 1974 3. What should be considered when carrying out a manual handling assessment
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Case Study – Activity – Based Management in Shell Gabon Case Requirements 1. SG TOTAL UOC per barrel = $140‚640‚200/(120‚000 barrels/day * 365 days/year) = $3.21/barrel Barrels of oil produced is a cost driver for some of the activities in RDS‚ but not all are driven by production of oil. UOC = Total Operating Expense (OPEX) excluding exploration‚ depreciation‚ and depletion therefore there are other activities like exploration‚ new capital equipment for exploration‚ research and development
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BUS 503 Homework Fang Geng P5-47 The information supplied by the ABC project team is in columns A‚ B‚ C‚ D‚ F‚ G‚ I. Activity Activity Cost Pool Cost Driver Cost Divers Quantity Pool Rate Product Line Cost Driver Quantity for Product Line Activity Cost for Product Line Product Line Production Volume Activity Cost per Unit of Production Material 52‚500 Production 100 525.00 REG 40 21‚000 5‚000 4.20 Handing Runs ADV 40 21‚000 4‚000 5.25 GMT 20 10‚500 1‚‚000 10.50
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Manual Handling Manual handling means the moving or supporting of a load by hand or bodily force i.e. by a person as opposed to machine. This includes lifting‚ putting down‚ pushing. Pulling‚ carrying or moving. Legislation: There are various pieces of legislation that cover moving and handling * Manual Handling Operations Regulation 1992 (MHOR) * Lifting Operations and Lifting Equipment Regulations 1998 (LOLER) * The Health and Safety At Work Act 1974 These legislations covers everyone
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