40 a- Cost of goods manufactured = Direct cost + Indirect cost = [Direct Cost of Material + Direct Cost of Labor] + [Indirect Cost of Material + Indirect Cost of Labor + Utilities Overhead] = Total Cost of Material + Total Cost of Labor + Utilities Overhead = 120‚000 + 90‚000 + 40‚000 = $ 250‚000 b- Total Cost of Operation = Cost of goods manufactured + Selling‚ General admin. and expenses. = 250‚000 + 60‚000 = $ 310‚000 c- Prime Cost =Direct Material Cost + Direct Labor
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Historical Cost accounting Historical cost accounting has been a controversial method that experienced many criticisms over a period of time‚ especially since it considers the acquisition cost of an asset and does not recognize the current market value. Merits and demerits of this method are as follows. The most obvious advantage of HC accounting is objectivity. It is a predominantly objective system‚ which records the original cost of an item when it was purchased. Under historical cost accounting
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Market segmentation‚ targeting and positioning ➢ Marketing mix • -Product • -Price • -Place • -Promotion ➢ SWOT analysis ➢ Conclusions ➢ Recommendations EXECUTIVE SUMMARY: INTRODUCTION: Levi Strauss & Co. (LS&CO.) is one of the world’s largest brand-name apparel marketers with sales in more than 110 countries. There is no other company with a comparable
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Cost Accounting: In a broad aspects‚ Cost Accounting is a method of accounting in which all costs incurred in carrying out an activity or accomplishing a purpose are collected‚ classified‚ and recorded. This data is then summarized and analyzed to arrive at a selling price‚ or to determine where savings are possible. So Cost Accounting consists of the identification‚ measurement‚ collection‚ analysis‚ preparation‚ and communication of financial information For example‚ calculating the cost of product
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currently have the lowest gross margin among all products‚ because competitors had been reducing prices on pumps and Wilkerson adopted its prices in order to remain competitive and to maintain the volume. 2. Given some apparent problems with Wilkersons cost system‚ should executives abandon overhead assignment to products entirely by adopting a contribution margin approach in which manufacturing overhead is treated as a period expense? Our conclusion is‚ that they should not adopt a contribution margin
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Framework Zhang Yi Fei and Che Ruhana Isa becoming more and more popular [3-7] ABC aims to provide accurate costing information to managers to allocate activity costs to products and services by applying cost drivers [8]. Academics who advocate ABC‚ such as‚ Cooper and Kaplan [9]‚ and Swenson [10] argue that it provides more accurate cost data needed to make appropriate strategic decisions about product mix‚ sourcing‚ pricing‚ process improvement‚ and evaluation of business process performance. These
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St a t em en t An a lysis a n d Cost Redu ct ion P r ogr a m AT TATA MOTORS LIMITED‚ PUNE Submitted To Pune University In Partial Fulfillment of the Requirement of Master of Business Administration Submitted By Mr. Chetan G. Aher M.B.A Under the Guidance of Prof. Mr. Mahesh Halale THROUGH THE DIRECTOR OF Visahwakarma Institute of Management 2005 - 2007 www.final-yearproject.com | www.finalyearthesis.com The Financial Statement Analysis and Cost Reduction Program. Acknowledgement
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Cost Accounting /Cost Concepts Monika Nanchahal HA 520-01: Healthcare Finance Management Abstract Today healthcare industry is becoming challenging due to health reforms and competitive pressure. The only valid business strategy can manage the cost and quality of patient care. It is imperative to understand the concept of cost accounting to accept
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warehousing and shipping cost is not really correct. The current method is direct method which ignores In term of Shipping and Warehousing cost‚ low volume products should incur this cost instead of both high volume and low volume products. Because‚ high volume products are deliveried directly to customer so it does not incur the cost of shipping. The low volume products which are sent to distribution center incurred the cost of shipping and warehousing. However‚ the cost of shipping and warehousing
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refer to themselves as such. This one would be Levi-Strauss‚ often seen as the founding farther of Structuralism and the only thinker whose “commitment to structuralism is straightforward and total” (Sturrock 1979 p2). He started a Structuralist movement in France in the 1960’s that would eventually take the intellectually world by storm. The movement was new‚ exciting and “changed the mind of an age”(Gertz 1988 p26). If this is the case‚ why is Levi-Strauss’ the only thinker fully commitment to structuralism
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