people‚ products‚ events‚ environments and the like? 2. For what specific purpose is Basic Research important? 3. When is applied research‚ as distinct from basic research‚ useful? 4. Why is it important to be adept in handling the manager-researcher relationship? 5. Explain giving reasons which is more important – applied or basic research. 6. Give two specific instances where an external research team would be useful and two other scenarios where an internal research team will be deployed‚
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Absorption Costing Absorption costing is a method of costing that assigns a small percentage of production and overheads costs to the price of each product that is going to be sold. It accounts for all costs‚ direct and indirect‚ fixed and variable. For example; if 1000 products are made and the total costs are £10000 then each product would cost £10 before making a profit (10000/1000=10). Variable costs are costs that can be controlled by management or a sales worker. Whereas fixed costs are
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STEPS IN OPENING MS POWER POINT PRESENTATOIN Step 1 Open Microsoft PowerPoint by going to the "Start" menu and choosing the "Microsoft Office" option. Choose "Microsoft Office PowerPoint" from the drop-down box. This will open the program and a new presentation will automatically be populated. There are a few different ways of opening a presentation. If the presentation is saved on your computer‚ it can be opened from this screen. Step 2 Open the presentation by clicking "File" on the top toolbar
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LITERATURE REVIEW OF INVESTMENT APPRAISAL METHODS What is meant by investment appraisal practices? The investment appraisal process includes the generation of ideas‚ assessment and authorization‚ implementation and control of the project (Dennis R. Young‚ 2007). Decision-making is increasingly more complex today because of uncertainty. Additionally‚ most capital projects involve numerous variables and possible outcomes. For instance‚ estimating cash flows associated with a project involves working
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Absorption costing: * It is costing system which treats all manufacturing costs including both the fixed and variable costs as product costs * In absorption costing‚ all costs are absorbed into production and thus operating statements do not distinguish between fixed and variable costs. * Absorption costing is a process of tracing the variable costs of production and the fixed costs of production to the product. Absorption costing is used to cost products and to report financial
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Absorption Costing vs. Variable (Direct) Costing Absorption cost systems are widely used to prepare financial accounts. These systems are designed to absorb all production costs (variable or fixed) into costs of units produced. Absorption costs techniques allow manufacturing costs to be traced and allocated into product costs. There are different types of absorption costing systems: job order costing‚ process costing‚ and ABC costing. In job order costing‚ costs are assigned to products in batches
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JOB COSTING JOB COSTING Cost object is a unit or multiple units of a distinct product or service called a job. Product or service is A single unit such as: 1.Specialised machine done at Hitachi. 2.A construction project managed by L & T. 3.Advertising campaign produced by Saatchi and Saatchi. Multiple identical unit such as: 1.Agni missile for Ministry of Defense manufactured by HAL. JOB COSTING SERVICE SECTOR JOB COSTING MERCHANDISING SECTOR - Audit engagements done - Special promotion of
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Normal costing is used to value manufactured products with the actual materials costs‚ the actual direct labor costs‚ and manufacturing overhead based on a predetermined manufacturing overhead rate. These three costs are referred to as product costs and are used for the cost of goods sold and for inventory valuation. Standard costing values its manufactured products with a predetermined materials cost‚ a predetermined direct labor cost‚ and a predetermined manufacturing overhead cost. These standard
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rates: Job 450 Machining Department: Departmental allocation rate × Machine hours used by Job Overhead allocation × $60/ MH 3 MH $180 Job 455 × $60/ MH 6 MH $360 1 Finishing Department: Departmental allocation rate × DL hours used by Job Overhead allocation Total overhead allocation (from both departments $25/ DL hr 4 DL hrs $100 $25/ DL hr × 3 DL hrs $75 $ 280 × $ 435 Req. 5 The single plantwide rate undercosts Job 450 and undercosts Job
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TEXT CITATION What to cite? * facts‚ findings‚ theories‚ ideas taken from a source published or unpublished * direct quotations (e.g. key words‚ phrases‚ passages‚ quoted verbatim (word-for-word) * paraphrases and summaries * conclusions present using own word * articles and studies used in the text * some factual information Why cite? to give credit where credit is due because presenting the work of someone else as your own is plagiarism
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