Cost Accounting – Classification of costs Cost accounting refers to a process of accumulating‚ recording‚ classifying and analyzing all costs incurred at various levels of production. The purpose of cost accounting is manifold. It provides a final selling price‚ suggests the best possible course of action where maximum savings are possible and a strategy for future. Cost accounting is also constructive in comparing the input and output results that ultimately aids the management to arrive at a financial
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1. The chief economist for Argus Corporation‚ a large appliance manufacturer‚ estimated the firm’s short-run cost function for vacuum cleaners using an average variable cost function of the form. AVC= a + bQ+ cQ^2 (the 2 is suppose to be exponent) Where AVC=dollars per vacuum cleaner and Q=number of vacuum cleaners produced each month. Total fixed cost each month is $180‚000. The following results were obtained: Dependent Variable:AVC R-Square
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To prevent gasoline prices from having devastating effects on the economy it has been proposed that all gasoline prices in the United States be fixed at the average price for the last two years. For simplicity it will be assumed that this price is $2.50 per gallon. When equilibrium prices are under $2.50 per gallon the excess payments will be kept in a government fund. When retail prices exceed $2.50 per gallon money from this fund will be distributed to pay the difference. Do you think that this
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other countries‚ has its drug-related crimes. Crimes that are committed through the use of drugs such as rohypnol‚ ecstasy‚ GHB‚ GBL‚ ketamine‚ methamphetamine‚ and PCP‚ otherwise known as club drugs. Club drugs‚ often found at nightclubs‚ bars‚ and “raves”‚ is a genera term used to refer primarily to synthetic psychoactive substances. The use of these club drugs has been increasing rapidly according to the Drug Enforcement Administration. I believe these club drugs are the drugs that contribute most
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Effects of teenage drug abuse Drugs had a terrible effect on teenagers. It is a bad habit because they don’t know the consequences. When teenagers use drugs‚ the negative effects can be seen in family relationships‚ academic performance‚ and even criminal. Drugs use often leads to a breakdown in family relationships. First of all‚ teens on drugs often stop communicating with parents such as they don’t want to go anywhere with their parents because they want to stay at home and use drugs. Second‚ teens
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2 Drugs are generally defined as a substance which alters our normal bodily functions when it is induced into our body. Having a drug free society is to have a community of people living in a particular region‚ restricted from the usage and influence of drugs. Certain drugs have side effects‚ in which it can cause addiction to its user. This is why many had considered drugs to be dangerous‚ they thought that the usage of drugs should be banned completely from the society. On the contrary
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Q: Is depreciation expense or depreciation cost is fixed cost or variable cost in nature? Fixed costs: Fixed costs are such costs that do not change with the change in activity level within the relevant range. Where relevant range can be defined in terms of time or activity level. Variable costs: Variable costs are such costs that change with the change in activity level . Coming to the question‚ depreciation expense or depreciation cost can either be fixed or variable and this depends on the
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Drug Journey Thesis: The process of drugs in pharmaceuticals is actually a very long one. There are several different stages that a company undertakes in order to get their drug to the doctors‚ pharmacists and patients. We will look at this process over the next few minutes. Introduction: As a Chemistry major I’m passionate to study on drugs and would like to involve in pharmaceuticals. I’m also inspired from my family where my brothers-in-law are pharmacist and besides I love chemistry since
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An often debate is whether increasing the price of petrol is an appropriate way to decline traffic and contamination problems. It is undeniable that traffic as well as traffic’s emissions will not work normally if the price of petrol rises. In this case‚ I would contend that the growth of the price of petrol will solve traffic and pollution problems effectively. To begin with‚ I will show some reasons that the price of petrol can control growing traffic completely. Firstly‚ it is obvious that transport
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Supply and Demand‚ Markets‚ Prices and Price Setting Cirilo "Lee" E. Montano Trident University Microeconomics ECO201 Allison Kaminaga‚ Ph.D. December 10‚ 2012 Explain what happens to price and quantity of coffee when the following events occur: 1. An advertising campaign highlights scientific studies that find drinking coffee can help reduce weight gain. a. What do you think would happen? People will buy more coffee‚ drink more coffee‚ and research what coffee will help them lose
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