THE THREE METHODS OF RESOURCE ALLOCATION Throughout history‚ there have been three primary mechanisms for allocating resources. • In a traditional economy‚ resources are allocated according to the long-lived practices of the past. Tradition was the dominant method of resource allocation for most of human history and remains strong in many tribal societies and small villages in parts of Africa‚ South America‚ Asia‚ and the Pacific. Typically‚ traditional methods of production are handed down
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3 Methods of Heat Transfer Now in Physics we learn that there are three methods of heat transfer‚ this being: Radiation‚ Conduction‚ and Convection. Let’s start with radiation; radiation is the transfer of energy as electromagnetic waves. So basically it does not need to directly touch anything or move any particles around‚ much like convection and conduction do. Radiation mostly occurs through empty space‚ so I think a good example of radiation would be when you feel warm in front of a fire
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Problem 1 Brentwood Associates uses a job-order costing system and applies overhead on the basis of direct labor hours. At the beginning of the year‚ management estimated that 26‚000 direct labor hours would be worked and $1‚300‚000 of manufacturing overhead costs would be incurred. During the year‚ the company actually worked 24‚000 direct labor hours and incurred the following manufacturing costs: Direct materials used in production $1‚240‚000 Direct labor 1‚800‚000 Indirect labor 280‚000 Indirect
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DHL 2‚400 1‚440 720 320 4880 Plant overhead $122‚000 D/L rate/hour $30 Youngstown has a traditional cost system. It calculates a plant-wide overhead rate by dividing total overhead costs by total direct labor hours. Assume‚ for the calculations below‚ that plant overhead is a committed (fixed) cost during the year‚ but that direct labor is a variable cost. 1. Calculate the plant-wide overhead rate. Use this rate to assign overhead costs to products and calculate the profitability
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Traditional Overhead Costing vs Activity Based Overhead Costing Activity based costing deals with the key activities in which the firm’s resources are put. It accumulates overhead costs for each such activity. It is also used in determining the drivers of these activities. It assigns the cost of these activities to their ultimate cost centre. Activity based costing is rather a refinement over traditional costing system. The major differences are as follows: Under traditional costing‚ the overheads are
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were 163‚000. Required： 1. Compute the (a) budgeted indirect-cost rate and (b) actual indirect-cost rate. Why do they differ? 2. What are the job costs of the Laguna Model and the Mission Model using (a) normal costing and (b) actual costing? 3. Why might Amesbury Construction prefer normal costing over actual costing? Answer： 1. = = = $50 per direct labor-hour = = = $40 per direct labor-hour These two rates differ because both the number of indirect costs and direct labor-hours
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The Overhead Projector (OHP) August 24‚ 2012 Introduction Overhead Projectors are still being used in a lot of schools‚ like in the Philippines. It is not as modern as other equipments‚ but it still serves its purpose which is to show enlarged images on screen. I. Description The Overhead Projector is an optical device for showing images on screen‚ usually for group viewing. The OHP is mainly used for
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Lab #3: Method of Initial Rates: Iodine Clock Introduction The detailed system of steps in a reaction is called the reaction mechanism‚ and it is one of the principal aims of chemical kinetics to obtain information to aid in the elucidation of these mechanisms in order to better understand chemical processes. Reactions usually occur in a stepwise manner with each step proceeding at a different speed. If the rate of reaction is slow enough to measure‚ this is indicative of a step much slower
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Using Overhead Transparencies by Lenny Laskowski © 1997 LJL Seminars http://www.ljlseminars.com While the current trend in the training industry is heading toward the use of the LCD Projector technology‚ the overhead projector is still the most popular presentation device used today. Most facilities have an overhead projector in every training room or conference room. Although it is the most widely used‚ it is also the biggest abused. Some presenters continue to misuse the overhead projector
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ANALYSIS TOPIC: METHODS ADAPTED TO INCREASE TRP RATES IN INDIA. ------------------------------------------------- Publicity stunt A publicity stunt is a planned event designed to attract the public’s attention to the event’s organizers or their cause. Publicity stunts can be professionally organized or set up by amateurs.] Such events are frequently utilized by advertisers‚ celebrities‚ athletes‚ and politicians. ------------------------------------------------- Overview Organizations
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