CHAPTER 6 COST BEHAVIOR TYPES OF COST BEHAVIOR PATTERNS 1. Variable Cost 2. Fixed Cost 3. Mixed / Semi-variable Cost Cost Structure – the relative proportion of fixed‚ variable‚ and mixed costs found within an organization or firm. 1. Variable Cost - its total dollar amount varies in direct proportion to changes in the activity level. Example: Number of Trucks Radiator Cost per Total Radiator
Premium Variable cost Costs Management accounting
Costs and Revenues What is cost? If you go to a store and like an item and you want to buy it‚ which of the following questions would you ask: What’s the price of …..? 0R How much does …. cost? Examples of costs – set-up Examples of costs - running Fixed Costs 5000 What happened to the fixed costs if for some reason the company had technical problems and was unable to produce for 2 weeks? What happens if the landlord decided to raise the rent due to high property prices
Premium Variable cost Costs Cost
What training solution was adopted by OCS? To unlock the potential of the OCS team and help them perform to their fullest abilities‚ the business embarked on the NVQ Level 2 Customer Service Programme. This NVQ framework gave a wide range of units relevant to job roles. Different achievement levels allowed easy progression and flexibility to undertake additional modules whilst ‘naturally-occurring’ service situations were used as evidence of competence. Has the training and qualification process
Premium Customer service Skill Customer
relationships‚ costs and rewards play an influential role in our decision making process‚ where we determine whether we are going to continue engaging in a relationship or choose to terminate it‚ as explained in Doctor Lobel’s lecture on close relationships. This is a component of the social exchange theory that suggests humans are rational beings who evaluate each of their relationship’s worth based on an analysis of benefits and disadvantages. In the bigger picture‚ the theory of a cost-reward system
Premium Interpersonal relationship Decision making Decision theory
Lab 1: Decision Trees and Decision Rules Evgueni N. Smirnov smirnov@cs.unimaas.nl August 21‚ 2010 1. Introduction Given a data-mining problem‚ you need to have data that represent the problem‚ models that are suitable for the data‚ and of course a data-mining environment that contains the algorithms capable of learning these models. In this lab you will study two well-known classification problems. You will try to find classification models for these problems using decision
Premium Machine learning Learning Decision tree
Case #3 A&D High Tech (A): Managing Projects for Success: A Negative View 1. What is the estimated project completion date? (Assume there are no holidays and ignore the sunk cost of the planning team’s effort) The estimated project completion date is TUE 11/13/13 with duration of 127 days. After leveling and re-allocating work along the project line‚ the project got delayed for 3 days so that the completion day moved up to FRI 11/21/13 (total duration of 130 days). (MS Project 2007) 2.
Premium Project management Costs Critical path method
THE COST AND SALES CONCEPT Cost is defined as a reduction in the value of an asset for the purpose of securing benefit or gain. Cost is defined in a hotel and restaurant as the expense to a hotel or restaurant for goods or services when the goods are consumed or the services are rendered. KINDS OF COSTS 1. Fixed costs – are those that are normally unaffected by changes in sales volume. They are said to have little direct relationship to the business volume because they do not change
Premium Costs Variable cost Total cost
provide a condensed version of the content of this report.The executive summary is usually 10 % of the word count of the whole report . Executive summaries make a recommendation(analysis to strategic perpective) Accuracy is essential because decisions will be made based on your summary by people who have not read the original 1.0 Introduction Give a brief description of the topic you will be discussing in the assignment and your task to achieve the objectives of the assignment .[Is there a
Premium Writing Understanding
Cost of Capital Firms need to make capital investment i.e.‚ purchasing fixed assets such as factories‚ machineries‚ equipment‚ etc. After deciding what capital investments to make‚ they need to decide on the financing – sources of capital. The sources: Long-Term Debt‚ Common Stock‚ Preferred Stock and Retained Earnings. Then they need to find the cost of obtaining each source of financing today (not historical). Cost of Capital - The rate of return that a firm must earn on its investment
Premium Finance Investment Rate of return
Axia College Material Appendix D The Justice Systems System Comparison Matrix Copy and paste the characteristics of the juvenile justice system and the adult justice systems into their respective columns. Place the characteristics that are relative to both the juvenile and adult systems into the column labeled “Both”. • Individuals arrested have the right to receive Miranda warnings. • The purpose of the procedures is to punish the guilty. • Individuals on trial have the constitutional
Premium Court Crime Jury