Generally‚ the term cost of production refers to the ‘money expenses’ incurred in the production of a commodity. But money expenses are not the only expenses incurred on the production of a commodity. There are number of services and inputs such as entrepreneurship‚ land‚ capital etc.‚ which are offered by an entrepreneur without changing any price or receiving any payment for them. While computing the total cost of production‚ allowance should be made for such expenses. It is therefore essential
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COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with recording
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ASSIGNMENT ON COST CONTROL AND COST FREDUCTION SUBMITTED BY‚ MOHAMMED NAFAISE E.K ROLL NO: 1600 COST CONTROLL & COST REDUCTION COST CONTROL The practice of managing and/or reducing business expenses. Cost controls starts by the businesses identifying what their costs are and evaluate whether those costs are reasonable and affordable .Then if necessary
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Victoria Chemicals PLC: The Merseyside Project Prepared by Gabriela Tiffany Executive Summary The purpose of this report is to provide an understanding and analysis regarding the project proposed. The report starts with a brief overview of the company and the project proposal. This report then continues with assessing the concerns of Transport Division‚ ICG Sales and Marketing Department‚ and Treasury Staff. Furthermore‚ this proposal will also evaluate the recommendation from the Assistant Plant
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Experiment 7: A Study of Chemical Changes: Types of Chemical Reaction INTRODUCTION Chemical changes are results of chemical reactions. All chemical reactions involve a change in substance and a change in energy. They are either chemical elements or compounds. A chemical reaction rearranges the constituent atoms of the reactants to create different substances as products. There are different types of chemical reaction classified into 4 general types‚ namely‚ Synthesis‚ Decomposition
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Case 20: Diamond Chemicals plc (A) --PT07 Group 10 INTRODUCTION: Diamond Chemicals is a large worldwide chemicals producer with two factories in Liverpool England and Rotterdam Holland. Both of their plants were built in 1967 with annual output of 250‚000 metric tons polypropylene. Compare with low-cost producer‚ the production cost per ton is 1.09 which is a little bit high than competitors (see Exhibition 1). With the decline EPS from £60 in 1999 to £30 in 2000 and worldwide economic slowdown
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Dow Chemical Case When Petroquímica Bahia Blanca S.A. (PBB) began the process of becoming privatized by the Argentine government‚ Dow Chemicals saw the acquisition of this company as a golden opportunity to become the leading polyethylene player in Latin America. Dow Chemical’s was already a major player in the chemicals (ethylene)‚ plastics (polyethylene)‚ and agricultural products industries holding position as a low-cost producer. Breaking each segment of their business down into
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Determining the Molar Mass of a Volatile Liquid Purpose: The purpose of this lab was to find the molar mass of a volatile liquid. Data Table: Mass of Test Tube and Stopper (g) | 10.864 g | Barometric Pressure (mmHg) | 749.31 mmHg | Temperature of Boiling Water (C) | 97.1 C | Mass of Test Tube‚ Stopper‚ and Condensed Liquid (g) | 10.890 g | Volume of Flask (mL) | 9.90 mL | Calculations: 749.31 mmHG*1 atm760 mmHg= .98593 atm 9.90 mL*1 L1000 mL= .00990 L 97.1 C+273=370.1 K Substituting
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This experimental procedure uses compounds from spinach leaves that are exposed to chromatography‚ TLC plate to indicate the different pigments within the spinach extract. ‘Column chromatography in chemistry is a method used to purify individual chemical compounds from mixtures of compounds’ (Wikipedia‚ 2011). This method is similar to thin layer chromatography‚ but the compounds in the mixture are collected separately. Green dye is used in this experiment that consists of blue and yellow constituents
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VICTORIA CHEMICALS PLC Ricky Tjayadi 01120120028 Young Jung Kim 01120120201 Irene 01120120214 VICTORIA CHEMICALS PLC The Background Victoria Chemicals‚ a major company in the chemical industry‚ was the number one producer of polypropylene‚ a polymer used in various everyday items. Victoria Chemicals at the end of 2007 was in a financial slump and was under pressure to improve their financial performance. Due to this financial slump‚ Lucy Morris‚ the Plant
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