Q1: explicit costs and implicit costs concepts Explicit Cost Explicit cost is defined as the direct payment which is supposed to be made to others while running business. This includes the wages‚ rents or materials which are due in the contract. The explicit cost is the expense done in business which can easily be identified and accounted for in the business at any stage. The explicit cost represents the out flows of cash in clear and obvious terms. When any out flow of credit occurs in a business
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Chapter 14 - Operational Performance Measurement: Sales and Direct-Cost Variances‚ and the Role of Nonfinancial Performance Measures 14-1 Pet Groom & Clean (PG&C) David Green is considering his operating statement for 2010‚ which is displayed in the table below. David is the manager of store number 88‚ where he began as one of the staff 6 years ago‚ and through hard work has risen to become manager of the store. The operating report shows his budgeted performance for the year and the actual results
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10/12/04 4:49 PM Page 259 8 C H A P T E R COST CURVES 8.1 LONG-RUN COST CURVES APPLICATION 8.1 The Long Run Cost of Trucking APPLICATION 8.2 The Costs of Higher Education APPLICATION 8.3 Economies of Scale in Refining Alumina? APPLICATION 8.4 Hospitals Are Businesses Too APPLICATION 8.5 Tracking Railroad Costs APPLICATION 8.6 Economies of Scope for the 8.2 S H O RT- R U N C O ST C U RV E S 8.3 SPECIAL TOPICS IN COST Swoosh Experience Reduces Costs of Computer Chips APPLICATION 8.7 8.4
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Katt Goodson PS 360 Applied Behavior Analysis Oct 7th‚ 2014 Professor Harla Frank Unit 6 Assignment Application of Behavior Analysis Brenda is 17 years old and plays competitive tennis. In fact she hopes to get a scholarship to play in college. Brenda’s coach asked her to go see a sports psychologist who specializes in ABA because she is having difficulty with her serve. She does not have enough speed and accuracy to win matches. Her coach has tried every strategy he knows with no success
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WHAT ARE COSTS AND PROFITS? HUNGRY HELEN’S COOKIE FACTORY • Helen‚ the owner of the cookie factory‚ buys flour‚ sugar‚ flavorings‚ and other cookie ingredients. • She also buys the mixers and the ovens and hires workers to run the equipment. • She then sells the resulting cookies to consumers. 2 TOTAL REVENUE‚ TOTAL COST‚ AND PROFIT • The amount that Helen receives for the sale of its output (cookies) is its total revenue. • The amount that the firm pays to buy inputs (flour‚ sugar‚ workers
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The last that was on page 173 of my book Applied Organizational Leadership Skills I‚ Talked about leadership skills and listening. There were ten skills with the first skill repeated at the end. These skills were the following • Stop talking- listen to the other person before speak. • Put the talker at ease- be relaxed and provide and open comfortable place to talk. • Shows the people that you want to listen- give your full attention to the person talking. • Remove distraction- make sure you are
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Cost Classification Introduction: In this assignment I will be discussing how costs incurred in any organization may be classified in a number of different ways for a number of different purposes. I will also be looking to find companies that use a variety of different costing techniques and methods. I will also be discussing the comparisons between marginal and absorption costing and how the concept of activity based costing can also be compared with these. To complete the assignment I will
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of per Unit Total Costs. The estimated unit costs for Hoteling Industries‚ when operating at a production and sales level of 10‚000 units‚ are as follows: Cost Item Estimated Unit Cost Direct materials $15 Direct labor 10 Variable factory overhead 8 Fixed factory overhead 5 Variable marketing 4 Fixed marketing 3 Required: (1) Identify the estimated conversion cost per unit. (2) Identify the estimated prime cost per unit. (3) Determine the estimated total variable cost per unit. (4) Compute
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COST OF PRODUCTION CONTENTS 1. Introduction 2. Types of costs 3.1 Opportunity‚ implicit and explicit costs 3.2 Fixed and variable costs 3.3 Average costs 3. Types of cost curves 4.4 Marginal cost curve 4.5 Average cost curves 4. Costs in Short run and in the Long run 5.6 Short run 5.7 Long run 5.8 Economies of scale 5. Cost analysis in the real world 6.9 Economies of scope 6.10 Experiential
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Applied Managerial Decision Making MGMT600-1301B-03 Phase 3 individual project Rocklyn Kee Colorado Technical University Online Professor Donald Pratl March 11‚ 2013 There are 500 employees in the sales force of Company W that are spread out over Southeast‚ Northeast‚ West‚ and Central regions. The company has recently incorporated a new software program in and attempt to monitor how many sales are generated by each employee. It is expected that each month each region should sell the same
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