2-22 Variable costs and fixed costs. Consolidated Minerals (CM) owns the rights to extract minerals from beach sands on Fraser Island. CM has costs in three areas: a. Payment to a mining subcontractor who charges $80 per ton of beach sand mined and returned to the beach (after being processed on the mainland to extract three minerals: ilmenite‚ rutile‚ and zircon). b. Payment of a government mining and environmental tax of $50 per ton of beach sand mined. c. Payment to a barge operator. This
Premium Costs Variable cost Sand
Behavioral Costing British Aerospace case study A. Introduction When we think about the cost of an aircraft‚ we tend to think of the cost of buying the product rather than the costs of running it! British Aerospace’s service to the customer does not stop at the aircraft acquisition stage‚ when the airplane is sold to the customer. If anything‚ this is when the customer relationship begins. This case study focuses upon the processes involved in behavioral costing aircraft components. Given
Premium Cost Costs Price
A Cost Leadership Strategy is based on the concept that you can produce and market a good quality product or service at a lower cost than your competitors. These low costs should translate to profit margins that are higher than the industry average. Some of the conditions that should exist to support a cost leadership strategy include an on-going availability of operating capital‚ good process engineering skills‚ close management of labor‚ products designed for ease of manufacturing and low cost distribution
Premium Marketing
Opportunity costs The first opportunity cost that I made was choosing to enroll in a university that offers online courses or going to a traditional university that only has classroom style learning. The pros of attending online for me included not having to commute back and forth 40 additional miles per day‚ not having to hire a babysitter for my child‚ and I’d be in the comfort of my own home or environment to my liking when I studied. The cons included‚ not having that social connection to my
Premium
Cost Classifications Consult Ch. 6 & 7 of Health Care Finance and other sources to complete the form. This worksheet requires you to match the definitions and examples of types of cost‚ and the types of centers where costs occur. Part 1: For each term in Column A‚ select the correct definition from Column B on the right. Write the corresponding letter of the definition next to the term. Column A f 1. Indirect costs a 2. Direct costs d 3. Fixed costs i e h b c g 4. Variable
Premium Costs Budget Nursing
Apa sih opportunity cost? Untuk yang pernah belajar ekonomi pasti kenal baik dengan istilah ini‚ tapi buat yang lain‚ opportunity cost is : "...the cost of something in terms of an opportunity foregone (and the benefits that could be received from that opportunity)‚ or the most valuable foregone alternative." (Dictionary.LaborLawTalk.com) Kalau diterjemahkan adalah suatu biaya dari hilangnya suatu kesempatan dalam menggunakan sumber daya tertentu. Kalau kita melihat waktu sebagai sumber daya
Premium Economics Price Opportunity cost
Problem 2-43 (35 minutes) 1. San Fernando Fashions Company Schedule of Cost of Goods Manufactured For the Year Ended December 31‚ 20x2 Direct material: Raw-material inventory‚ January 1 $ 40‚000 Add: Purchases of raw material 180‚000 Raw material available for use $220‚000 Deduct: Raw-material inventory‚ December 31 25‚000 Raw material used $195‚000 Direct labor 200‚000 Manufacturing overhead: Indirect material
Premium Revenue
Cost accounting deals with ascertainment ‚ allocation ‚ apportionment accounting aspect of costs.Management accounting deals with the effect and impact of costs on the business. 2. Cost accounting provides a base for management accounting whereas management accounting is derived from cost accounting and financial accounting. 3. Cost accounting does not include financial accounting ‚ tax planning and tax accounting. Management accounting includes financial and cost accounting ‚ tax accounting
Premium International Financial Reporting Standards Financial statements Balance sheet
Latasha Thomas January 20‚ 2013 HSM 260 Jerome Anderson Exercise 10.1 Recompute fixed costs‚ variable costs‚ and the BEP. What are the variable costs? What are the fixed costs? How many meals will the WHDM program need to provide during the fiscal year to reach the BEP? How much profit will the program earn if it completes its 45‚000-meal contract with the City of Westchester? The variable cost of service is $3.93 during the fiscal year the WHDM should provide 1‚011 meals to reach their
Premium Fixed cost Variable cost Costs
Opportunity cost Have you ever been in the situation deciding which cloth to buy? Have you ever facing the dilemma of to study or to play? Have you ever consider as a seller and choose to lower the price or raise it? In the field of economics‚ here’s a solution for you. The magic word is “opportunity cost”. Opportunity cost in terms of economy is the highest-value alternative one has to give up to engage in an activity. In other words‚ using the same resources such as money and time‚ the best
Premium Economics Price Costs