is expected to explain what caused the company’s increased shortfall. Based on his analysis‚ he will explain this variance fully and make recommendations to senior management. Analysis of Loss The rates and the number of units sold determine planned and actual result differences‚ representing the variance. Variances are used in performance evaluation to determine areas that are performing differently than expected. As noted in chapter seven‚ focusing on understanding what caused the variances
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11. A total variance is best defined as the difference between total a. actual cost and total cost applied for the standard output of the period. b. standard cost and total cost applied to production. c. actual cost and total standard cost of the actual input of the period. d. actual cost and total cost applied for the actual output of the period. 12. The term “standard hours allowed” measures a. budgeted output at actual hours. b. budgeted output at standard hours. c. actual output
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Discharges at the Anderson Cost Club Store In the regard to the Anderson Cost Club store‚ the discharge of the employee is legal‚ and the company will have no liability. This is because Georgia is an at-will employment state‚ this means an employee can terminate any employee without reason. Although Anderson Cost Club is in a right-to-work state‚ this has unquestionably nothing to do with the employees being discharged from the organization. According to "Georgia Secretary Of State " (2013)
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deep-discount brokerage sector. In march 1997‚ Ameritrade raised $22.5 million in an initial public offering. Management at Ameritrade is considering substantial investments in technology and advertising‚ but is unsure of the appropriate cost of capital. Estimating the cost of capital 1. Since we do not have the beta for Ameritrade‚ we need to find comparable firms for which we could compute the betas. There are several candidates in the case. Discuss which firms are most appropriate. Thus‚ the
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Benefits and Costs Scarcity and Choice Economics is about wants and means: * Society has the resources to make goods and services that satisfy our many desires. * However‚ our economic wants far exceed the productive capacity of our limited resources – our resources are scarce. Scarcity Definition: means that society has limited resources and therefore cannot produce all the goods and services people want In other words economic resources are scarce and wants are infinite. What is the
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INVENTORY CARRYING COSTS: Inventory carrying costs refers to the costs associated with carrying a quantity of stored inventory. This is one of the vital costs that needs to be optimized in any logistics system. It is a well-known fact that the inventory carrying costs is a part of the total logistics costs of the firm. Aspects of these vital costs can be described and evaluated from a variety of perspectives. Knowledge of inventory carrying costs is likely to be important to the success of any business
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G Different Methods for Cost Estimation Expert Judgment Method Expert judgment techniques involve consulting with software cost estimation expert or a group of the experts to use their experience and understanding of the proposed project to arrive at an estimate of its cost. Generally speaking‚ a group consensus technique‚ Delphi technique‚ is the best way to be used. The strengths and weaknesses are complementary to the strengths and weaknesses of algorithmic method. To provide
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modeled using a computer simulation that replicated the acquisition of the system’s parking spaces by George Mason University (GMU) plans to grow to 30‚000 students by 2007 and decrease its teacher to student ratio to 1:14. The effective growth rate between 2002 and 2007 will be approximately 1000 a year. Figure 1 displays the historic and projected student
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Running head: FUEL COSTS EFFECTING EMS How Rising Fuel Cost Effect EMS Agencies Eric Hatcher EMS 280 6 May 08 How Rising Fuel Cost Effect EMS Agencies As the prices of fuel increase nationwide‚ it isn’t only the local residents that feel the pinch of higher fuel prices. Those responsible for fueling ambulances‚ fire engines‚ and police cars are also battling the soaring transportation costs. Granted‚ this
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Cost Leadership Cost leadership that attempt to become the lowest-cost producers in an industry can be referred to as those following a cost leadership strategy. The company with the lowest costs would earn the highest profits in the event when the competing products are essentially undifferentiated‚ and selling at a standard market price. Companies following this strategy place emphasis on cost reduction in every activity in the value chain. Ideally‚ low cost strategy is centered on the capability
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