choosing one option‚ item‚ good‚ or service over another‚ opportunity cost is the value of what is foregone in order to have the alternative option. More simply‚ the opportunity cost of an item is the benefits you could have received by taking an alternative action. Every decision that involves a choice between two or more options has an opportunity cost. Opportunity costs are not limited to fiscal or monetary costs‚ the value or opportunity not chosen can take many forms including lost time‚ foregone
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.................................12 Strengths............................................................................................13 Weaknesses.......................................................................................16 Opportunities....................................................................................18 Threats……….......................................................................................19 7 DHL swot analysis....................................
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The Super Project Case Study FIN 3717 Braden Eddy‚ Lauren Gear and Dakota Conravey The Super Project Case Study FIN 3717 Braden Eddy‚ Lauren Gear and Dakota Conravey Statement of Facts General Foods is a large corporation organized by product lines. They are evaluating Super Project‚ the manufacture of a new powdered dessert. Crosby Sanberg‚ a financial analysis manager‚ must determine the value in accepting the proposal‚ along with J.C. Kresslin‚ the Corporate Controller. The Super
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supplier must ensure that all parts are within tolerance before shipment to the customer‚ what is the effect on the cost of quality to the customer? Cost of quality is the cost associated with the quality of a work product. As defined by Crosby in his "Quality Is Free"‚ Cost Of Quality (COQ) has two main components: Cost Of Conformance and *Cost Of Non-Conformance. Another view is that cost of quality is the amount of money a business loses because its product or service is not done right in the first
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Lesson 1 FOUNDATIONS OF ECONOMICS Lesson 1- Economic System & Opportunity Cost 1 Learning Objectives By the end of this unit‚ you should be able to: give an overview of Economics deal with the Economic Problem discuss the Methodology in Economics differentiate between Microeconomic Issues and Macroeconomic Issues Lesson 1- Economic System & Opportunity Cost 2 Lesson 1- Foundations of Economics Lesson 1-pg1 What is Economics? Economics is the study of how people and society
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COST ACCOUNTING Select the one best answer for each: 1. Which one of the following would not be classified as manufacturing overhead? a. Indirect labor b. Direct materials c. Insurance on factory building d. Indirect materials 2. Prime costs of a company are $3‚000‚000‚ manufacturing overhead is $1‚500‚000 and direct labor is $750‚000. What is the amount of direct materials? a. $1‚500‚000. b. $750‚000. c. $2‚250‚000.
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Definition and explanation of mixed or semi variable cost: A mixed cost is one that contains both variable and fixed cost elements. Mixed cost is also known as semi variable cost. Examples of mixed costs include electricity and telephone bills. A portion of these expenses are usually consists line rent. Line rent normally is fixed for each month. Variable portion consists units consumed or calls made. The relationship between mixed cost and level of activity can be expressed by the following equation
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Managing Cost of Quality: Insight into Industry Practice Andrea Schiffauerova *‚ Vince Thomson ** * École Polytechnique de Montréal‚ Department of Mathematics and Industrial Engineering‚ Montreal ** Department of Mechanical Engineering‚ McGill University‚ Montreal‚ Canada Article Reference: Schiffauerova‚ A. and Thomson‚ V.‚ “Managing cost of quality: Insight into industry practice”‚ The TQM Magazine‚ 2006 Abstract This paper reports on the study of the quality costing practices at four large
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Project Management‚ 2e (Pinto) Chapter 3 Project Selection and Portfolio Management 3.1 True/False 1) Numeric project selection models‚ by their very nature‚ employ objective values. Answer: FALSE Diff: 2 Section: 3.1 Project Selection Skill: Definition AACSB Tag: Reflective 2) Every decision model contains both objective and subjective factors. Answer: TRUE Diff: 3 Section: 3.1 Project Selection Skill: Factual AACSB Tag: Reflective 3) A simplified scoring model
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have a sound knowledge of cost behaviour ie fixed costs‚ variable costs‚ semi-variable costs and sunk costs. Answer: Understanding cost behaviour helps manager in anticipation of changes in cost when there is a change in their activities like production‚ sales‚ inventory pile up etc. It provides good assistance in planning‚ cost management and decision making. A number of behaviour patterns exist ranging from fixed to variable and from linear to curvilinear. Many cost predictions techniques are
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