Q.5 Solution Bill Denomination (X) Number of Bills (f) X*f X2*f $1 520 520 520 $5 260 1‚300 6500 $10 120 1‚200 12000 $20 70 1‚400 28000 $50 29 1‚450 72500 $100 1 100 10000 Total 1000 5‚970 129520 a. b. c. The probability that a bar containing $50 or $100 bill is purchased is 30 / 1000 = 0.03 Hence customer have to buy 100 bars of soap‚ so that he or she has purchased three bars containing a $50 or $100 bill. d. Given n=1000‚ E(X) = 5.97‚ SD(x) = 9.68912
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ADVANTAGES OF KAIZEN COSTING There are certain basic principles which are followed in various Japanese companies which are listed below: - 1) Focus on customers: The Kaizen philosophy has only one prime objective of customers’ satisfaction. Kaizen permits no middle ground its either you provide best products and customer satisfaction or not. All the activities should aim at providing customer with whatever he wants and should help the firm long term objective of customers’ satisfaction at
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I. Executive summary The quality and reputation of wellington wine have a key role to play in strengthening wellington wine’s brand promise of being a vibrant and welcoming place that celebrates the good things in life. Wellington wines core brand attribute of being Australia’s home of exceptional wine and produce‚ complements other core brand attributes of un spoilt nature at close proximity‚ enterprising tradition of creativity and innovation‚ and a beautiful city and festival spirit.
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In Ray Bradbury’s “Dandelion Wine”‚ Douglas learns growth through self-discovery from his Great Grandmother dying‚ Colonel Freeleigh’s stories‚ and the end of the trolley. Douglas’ Great Grandmother dies and gives him advice‚ and this provides a new view of death. Colonel Freeleigh’s stories give Douglas new perspective on himself and his life. Mr. Tridden and his explanation of the end of the trolley also changes Douglas’ view of himself. Douglas’ Great Grandmother provides wisdom for Douglas and
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1. Briefly describe the changing economic geography of the global wine industry in terms of production‚ distribution and consumption. The Global wine industry has undergone a monumental change in terms consumer demand and more importantly in the ways it is produced and sold. The consumption‚ distribution and production has migrated away from the restrictions and regulations of the Old World to the New World ways of smart marketing‚ branding and serving to customers preferences. Middle ages
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Dandelion Wine Dandelion wine was a story about a twelve-year old boy named‚ Douglas Spaulding. Douglas was just a typical twelve year old boy‚ who lived to play‚ run around and do what any other twelve year old would do. Not a very physically fit person‚ but it didn’t really seem to matter. He was a person who got what he wanted‚ not by whining for it‚ but by keeping his mind on whatever he wanted and setting out a goal for it. He was a happy boy and not many problems‚ till now‚ and he
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Target Costing: A Historical Perspective Patrick Feil‚ Keun-Hyo Yook‚ Il-Woon Kim INTRODUCTION Target costing originated in Japan in the 1960s‚ though it remained a secret for years. Since the 1980s‚ however‚ when target costing was widely recognized as a major factor for the superior competitive position of Japanese companies‚ extensive efforts have been made to convey target costing to Western companies. Many large companies in North America and Europe have tried to adopt target costing to enhance
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Targeting Target Costing Targeting Target Costing COST MANAGEMENT AND INTER-ORGANIZATIONAL PRODUCT DEVELOPMENT OF MULTI-TECHNOLOGY PRODUCTS Martin Carlsson-Wall Dissertation for the Degree of Doctor of Philosophy‚ Ph.D. Business Administration Stockholm School of Economics 2011 Keywords: Target costing Cost management Accounting Inter-organizational accounting Management control Inter-organizational relationships Product development Inter-organizational product development Multi-technology
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Prepared By : Nithinlal.M PGDM ’13-‘15 Reg No : PG13027 Industry Overview Approximately 95% of India’s international trade by volume and 70% by value are seaborne. India has 11 major ports‚ 19 Medium port‚ and 187 minor ports along 7‚517 km long Indian coastline. It is strategically located as a major maritime nation due to its long coastline that flanks important global shipping routes. The National Transport Policy Committee (1980) recommended the following principles for
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MARGINAL AND ABSORPTION COSTING Marginal costing is a technique in which production units are valued at marginal cost of production and fixed costs are written off as period costs. It follows that‚ stocks are valued using only the variable cost of production whereas fixed costs are treated as relating to the period and must be taken off in total. Management accounting is based on marginal costing. TERMINOLOGY USED. Gross contribution: Is the difference between sales value and variable costs
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