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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We already know that following are the important cost concepts related to the production process of a firm: • Fixed Cost • Varibale Cost • Average Cost • Marginal Cost please refer to following page Introduction to Cost Concepts to understand various cost concepts in detail. Here we will briefly state again the meaning of above stated cost concepts for better understanding of the module on short run cost analysis. Fixed Cost is that cost which does not change (that is either goes up or
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10/12/04 4:49 PM Page 259 8 C H A P T E R COST CURVES 8.1 LONG-RUN COST CURVES APPLICATION 8.1 The Long Run Cost of Trucking APPLICATION 8.2 The Costs of Higher Education APPLICATION 8.3 Economies of Scale in Refining Alumina? APPLICATION 8.4 Hospitals Are Businesses Too APPLICATION 8.5 Tracking Railroad Costs APPLICATION 8.6 Economies of Scope for the 8.2 S H O RT- R U N C O ST C U RV E S 8.3 SPECIAL TOPICS IN COST Swoosh Experience Reduces Costs of Computer Chips APPLICATION 8.7 8.4
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WHAT ARE COSTS AND PROFITS? HUNGRY HELEN’S COOKIE FACTORY • Helen‚ the owner of the cookie factory‚ buys flour‚ sugar‚ flavorings‚ and other cookie ingredients. • She also buys the mixers and the ovens and hires workers to run the equipment. • She then sells the resulting cookies to consumers. 2 TOTAL REVENUE‚ TOTAL COST‚ AND PROFIT • The amount that Helen receives for the sale of its output (cookies) is its total revenue. • The amount that the firm pays to buy inputs (flour‚ sugar‚ workers
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Summer2011-Microeconomics-Exam Two Practice 1. To calculate the total utility of consuming N products: A. add the additional satisfaction of consuming each product up to N and multiply by its price. B. add the total satisfactions of consuming each product up to N. C. multiply the additional satisfaction from consuming the Nth product by its price. D. multiply total satisfaction from consuming N products by N. 2. Suppose that the following table lists the utility that Steve receives from
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Costs of Production July 2011 Topics to be Discussed Measuring Cost: Which Costs Matter? How do Cost Curves Behave? – Cost in the Short Run – Cost in the Long Run How to Minimize Cost? How to draw Implications for Business Strategy? Topics to be Discussed Production with Two Outputs: Economies of Scope Dynamic Changes in Costs: The Learning Curve Estimating and Predicting Cost Measuring Cost: Which Costs Matter? Accountants tend to take a retrospective view of firms’ costs‚ whereas
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Easy Riders‚ Raging Bulls (Bowser‚ 2002‚ USA) is a documentary about Hollywood directors in the 1970s. This film might be a model for my Independent Study as it is told in a documentary fashion with clips and interviews intertwined in the film. When the interview is happening‚ the interviewee is in a close up head shot with a black background. In order to enhance the storyline‚ the film uses archival imagery‚ actual movie scenes‚ voice-over‚ interviews and film posters/titles. For example‚ when
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Visually‚ Raging Bull is close to an artistic disaster. The visual style adopted by director Martin Scorsese and cinematographer‚ Michael Chapman seems to be falling apart. For instance‚ the last fight scene in which Sugar Ray Robinson pummels Jake La Motta depicts ludicrous images; however‚ the continuity editing allows viewers to make sense of it. During this shot‚ Scorsese shows a punch from the perspective of Robinson’s glove as it strikes La Motta’s face. In the seconds that follow‚ we see
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piece of Mesopotamian art that struck me the most was the Winged Human Headed Bull‚ also called Lamassu. This high relief struck me because of its power. It is able to command attention through its size‚ position‚ and strangeness. Its scale is massive at almost fourteen feet tall. It is placed at the entrance of the Citadel of Sargon II‚ demanding attention and setting the mood. It carries a strangeness with its five legs‚ bull body‚ human head‚ and bird wings. When I first saw this piece‚ I felt a fear
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Reflective Journal - Red Ocean Reflective Journal – RED ROUND Name: Zhiqiang MOU Student ID: 41909763 Seminar Leader: Team: Cronus Table of Contents 1.0 Introduction 2.0 Red Round 2.1 Critical Appraisal 2.2 Peer Group Discussion 2.3 Self Evaluation 3.0 Blue Round One and Blue Round Two 3.1 Critical Appraisal 3.2 Peer Group Discussion 3.3 Self Evaluation 4.0 Blue Round Three 4.1 Critical Appraisal 4.2 Peer Group Discussion 4.3 Self Evaluation 5.0 Conclusion Red Round Critical Appraisal
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