Absorption and Variable Costing‚ Inventory Management Absorption and Variable costing are very important tools for cost accounting. Both of these costing methods allow you to see the cost of your inventory‚ in a different way. For example the absorption method allows you to assign all costs to the product‚ while variable costing allows only variable costs to be assigned to the product. Inventory management is extremely important as well because it ties into efficiency and lowering your costs
Premium Inventory Costs Balance sheet
organization has been trying to multiply Muga seed. From the basic seed the multiplication process starts and finally commercial seeds are produced. But from the field study it has been found that the rearers themselves produce a large quantity of seeds for their use. Though Government’s efforts to produce P2 DFL have become successful to some extent‚ the amount of seeds produced by Government institutes is not at all sufficient to meet the demand of the rearers. So the State Government (Assam Government) has
Premium Assam Silk
milieu and environment of art. In a broad sense‚ we study Philippine art as produced within the particular period of history. For example‚ the 19th century or the Marcos regime. In a specific sense‚ we study Philippine art as produced by a particular social group‚ usually having fine arts background or specific cultural community which has preserved is artistic traditions from pre-colonial times. Art is produced under different conditions even within the same society during the same time. Urban
Free Art Culture
chapter seven measuring domestic output and national income CHAPTER OVERVIEW News headlines frequently report the status of the nation’s economic conditions‚ but to many citizens the information is confusing or incomprehensible. This chapter acquaints students with the basic language of macroeconomics and national income accounting. GDP is defined and explained. Then‚ the differences between the expenditure and income approaches to determining GDP are discussed and analyzed in terms
Premium Gross domestic product
1. ‘Conventional’ Tomato Production About seventy million tonnes of tomatoes were produced worldwide in 1993. Today’s global food distribution system involves food being transported many miles and hours between producer‚ processor‚ retailer and consumer. It is important that ripe fruit and vegetables do not perish on the journey due to their soft skins. In the US‚ the problem is solved in conventional tomato-farming by picking tomatoes while they are still green and firm‚ transporting them‚ and then
Premium Tomato Fruit
feet‚ respectively‚ of in-process storage space available for a day’s production of this product. Each unit of the large‚ medium‚ and small sizes produced per day requires 20‚ 15‚ and 12 square feet‚ respectively. Sales forecasts indicate that if available‚ 900‚ 1‚200‚ and 750 units of the large‚ medium‚ and small sizes‚ respectively‚ would be sold per day. At each plant‚ some employees will need to be laid off unless most of the plant’s excess production capacity can be used to produce the
Premium Capacity utilization Part-time
Week 1 1. To estimate GDP you add the value of all the goods and services produced‚ both final and intermediate goods. Is this procedure correct? Why? This is incorrect because intermediate goods are not calculated separately in GDP‚ they are already included in the final product. 2. What is the relationship between aggregate income and aggregate production? Why does this relationship exist? Aggregate income is the total of all income earned within a time period and is another way of measuring GDP
Premium Gross domestic product United States Goods
and with tactic. A community would largely benefit from an organized locavore movement because locally grown food strengthens the local economy‚ it is fresher and more nutritious‚ and provides equity between producer and consumer. Locally grown and sold produce empowers and sustains a community’s economy. “According to a study by the New Economics Foundation in London‚ a dollar spent locally generates twice as much income
Premium Local food
Exercise 1-5 1. Traditional income statement Redhawk‚ Inc. Traditional Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Net operating income 2. Contribution format income statement Redhawk‚ Inc. Contribution Format Income Statement Sales Variable expenses: Cost of goods sold Selling expenses Administrative expenses Contribution margin Fixed expenses: Selling expenses Administrative
Premium Revenue Variable cost Gross profit
OLIGOPOLY INTRODUCTION Oligopolists maximize their total profits by forming a cartel and acting like a monopolist. Yet‚ if oligopolists make decisions about production levels individually‚ the result is a greater quantity and a lower price than under the monopoly outcome. The larger the number of firms in the oligopoly‚ the closer the quantity and price will be to the levels that would prevail under competition. The prisoners’ dilemma shows that self-interest can prevent people from maintaining
Premium Monopoly Cartel Economics