products. Chuck questioned if the current cost-management system was providing the management with accurate data about product costs. In a traditional‚ volume-based product-costing system‚ only a single predetermine overhead rate is used. All manufacturing-overhead costs are combined into one cost pool‚ a grouping of individual indirect cost items‚ and they are applied to products on the basis of a single variable that costs over a given time span (cost driver) that is closely related to production
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Product cost is the cost of direct labor‚ direct materials‚ and manufacturing overhead that are consumed to create a product. Product cost can also be considered the cost of the labor required to deliver a service to a customer. Direct Material Cost Definition: Direct material cost is the cost of materials used to manufacture a product or provide a service. Direct Labor Definition: Direct labor is production or services labor that is assigned to a specific product‚ cost center‚ or work order
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SYSTEMS ALTERNATIVES A. First Alternative 1. Feasibility Issues i. Technical Feasibility ii. Economic Feasibility iii. Operational Feasibility iv. Cost Benefit Analysis (CBA) – Table form v. Software and Hardware Requirements – include cost/price vi. GANTT Chart vii. DFD a. Context Diagram b. Diagram Zero c. Child DFD if there’s process to be breakdown based from Diagram Zero
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Glossary Chapter 1 Transportation‚ the Supply Chain and the Economy Accessibility: The ability of the carrier to provide service between the origin and destination. It also refers to the carrier’s ability to serve the shipper or consignee’s place of business. For example‚ in order to ship and receive a railcar‚ both the origin and destination must have a side track. Aggregate demand: The total effective demand for the nation’s output of goods and services. This can also refer to the sum
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analysis‚ one striking piece of data found is that public transportation is more important for foreign born than for native born‚ but more surprisingly that for foreign born Hispanic it is eight times more important2 . Foreign born populations are typically at a disadvantage economically so
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Uber’s Impact on the Transportation Industry Rideshare services are rapidly integrating in cities across the United States and internationally. Uber is revolutionizing the transportation industry‚ specifically in connecting a rider and a driver. A similar business would be a taxi service but more technologically advanced. Uber is not an entirely new concept‚ however‚ it is only from their new advancements and advancement in technology did Uber become a true player in the transportation industry. Uber has
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I. Overview Pierre Lortie = newly appointed President & Chief Operating Officer of Bombardier Transportation (BT)‚ headquartered in St. Bruno‚ Quebec BT = one of 3 major operating groups of Bombardier Inc. (BBD)‚ headquartered in Montreal‚ Canada. BBD = one of the world’s largest manufacturers of passenger rail cars BBD recently completed acquisition of Adtranz from DaimlerChrysler‚ headquartered in Berlin‚ Germany Acquisition would expand BT’s revenues & geographic scope; increase BT’s
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Cost/Benefit Analysis Evaluating Quantitatively Whether to Follow a Course of Action You may have been intensely creative in generating solutions to a problem‚ and rigorous in your selection of the best one available. However‚ this solution may still not be worth implementing‚ as you may invest a lot of time and money in solving a problem that is not worthy of this effort. Cost Benefit Analysis or CBA is a relatively* simple and widely used technique for deciding whether to make a change. As its
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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 used than budgeted. 2. Efficiency/usage/quantity variances: Standard is out of date‚ set without due care; Inefficient use of material/labour‚ deliberate or otherwise; Poor supervision/equipment/maintenance.Changes in
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Just in Time Inventory System Just in Time (JIT) manufacturing is a production and inventory control system in which materials are purchased and units are produced only as needed to meet actual customer demand (Steyn‚ 2010). The basic principle of JIT is that every component needed in the manufacturing system arrives just in time for it to be used. Stock holding facilities are not required with this system because the needed products arrive when needed. Automobile industries‚ like Toyota Motor
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