TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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accounting profits and economic profits for Gomez’s pottery. Explicit costs: $37‚000 (= $12‚000 for the helper + $5‚000 of rent + $20‚000 of materials). Implicit costs: $22‚000 (= $4‚000 of forgone interest + $15‚000 of forgone salary + $3‚000 of entreprenuership). Accounting profit = $35‚000 (= $72‚000 of revenue - $37‚000 of explicit costs); Economic profit = $13‚000 (= $72‚000 - $37‚000 of explicit costs - $22‚000 of implicit costs). 8-4 (Key Question) Complete the following table by calculating
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Chapter 1: Introduction ------------------------------------------------- 1.1 Introduction Rice is the staple food for 65% of the population in India. It is the largest consumed calorie source among the food grains. With a per capita availability of 73.8 kg it meets 31% of the total calorie requirement of the population. India is the second largest producer of rice in the world next to China. The all India area‚ production‚ and yield of rice in the year 2001-02 was 44.62 million hectares‚ 93.08
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Introduction EDWARDS PERSONAL PREFERENCE SCHEDULE A personality inventory comprising 225 pairs of statements relating to likes and preferences the respondent being required to choose the preferred alternative in each case. The scale is ipsative‚ and it yields scores on 15 needs based on the theory of personality introduced by the US psychologist Henry Alexander Murray (1893–1988) in his book Explorations in Personality (1938)‚ namely needs for achievement‚ deference‚ order‚ exhibition‚ autonomy‚
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and Avoiding Conflict PM/581 Diversity and Avoiding Conflict JPMorgan Chase is a leading financial institution throughout the world. Purchasing Bank One Corp. for $58 billion created a need for new software for both companies after a successful merger. Bank One officially merged with Chase Bank in 2004. The merged entity ranked as the number two financial institution in hot pursuit of Citigroup’s number one position (JPMorgan Chase & Co.‚ 2004). With this project spearheading the merger
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Spaced Repetition Study Schedule Rules to the Schedule: 1. The schedule consists of Rounds and Sets. 2. A “Round” is a period consisting of 7 study days and a certain number of spaced rest days between each study day. a. The number of rest days between each study day is dependent on which round a certain set is being studied in. For example: i. Round 1 = 0 rest days ii. Round 2 = 1 rest day iii. Round 3 = 2 rest days iv. Round 4 = 3 rest
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Topic 6: Management Accounting and Cost Case: Shelter Partnership a. My main learning outcomes from Topic 6 and the Case Study; 1) Firstly‚ I realize management accounting has much to offer. Somehow I can handle physics but not accounting. Now thanks to this course I can appreciate and make sense of it. The bit that really caught my attention was seeing how management accounting can be really useful for business planning‚ cost management‚ budgeting and performance measurement. It offers
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Ma. Angela A. Catapang J10 2011-62151 CA / BS FT Jurassic Park Jurassic Park‚ was a terrific movie being the world’s highest-grossing film at the time of its release. It was filled with sci-fi adventures which tickled our imagination and opened our minds into bold possibilities that were to start with “what if’s”. The said movie was made not only to entertain and to fascinate the viewers but also to educate everyone about the extent of the powers and wonders of science. The main
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Cost of Quality (COQ) "The cost of quality." It’s a term that’s widely used – and widely misunderstood. The "cost of quality" isn’t the price of creating a quality product or service. It’s the cost of NOT creating a quality product or service. Every time work is redone‚ the cost of quality increases. Obvious examples include: The reworking of a manufactured item. The retesting of an assembly. The rebuilding of a tool. The correction of a bank statement. The reworking of a service‚ such as
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National Park After the dramatic battle of the Civil War‚ Pea Ridge National Military Park (PRNMP) was established in honor to those that fought in 1862. With just 4‚300 acres where this significant battlefield takes place‚ people can visit this enormous park that is open every day. PRNMP has beautiful features where visitors can enjoy and have a pleasant visit because this park still preserves some of the things that were actually used in battle like cannons and rifles. The park also serves as
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