COST ANALYSIS OBJECTIVES INTRODUCTION MEANING DEFINITIONS TYPES OF COSTS MONETARY COSTS REAL COSTS OPPORTUNITY COSTS ECONOMIC COSTS ACCOUNTING COSTS INCREMENTAL COSTS SUNK COSTS FUTURE COSTS PRIVATE‚ EXTERNAL AND SOCIAL COSTS FIXED / SUPPLEMENTARY / OVERHEAD COSTS VARIABLE / PRIME COSTS REPLACEMENT COSTS PRODUCTION COSTS SELLING COSTS CONTROLLABLE COSTS DIRECT COSTS INDIRECT COSTS SHORT RUN COSTS CURVES LONG RUN COSTS CURVES OBJECTIVES To understand the meaning of cost. To discuss different types
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Classification of Cost Cost may be classified into different categories depending upon the purpose of classification. Some of the important categories in which the costs are classified are as follows: 1. Fixed‚ Variable and Semi-Variable Costs The cost which varies directly in proportion with every increase or decrease in the volume of output or production is known as variable cost. Some of its examples are as follows: • Wages of laborers • Cost of direct material • Power The cost which does not
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THE MANAGEMENT OF OVERHEAD COSTS IN CONSTRUCTION COMPANIES Brian Eksteen1 and David Rosenberg² ¹Professor of Construction Management‚ Faculty of Economic and Building Sciences‚ University of Port Elizabeth‚ P.O. Box 1600‚ Port Elizabeth‚ 6000‚ South Africa ²Senior Lecturer in Cost and Management Accounting‚ Faculty of Economic and Building Sciences‚ University of Port Elizabeth‚ P.O. Box 1600‚ Port Elizabeth‚ 6000‚ South Africa Costs not directly attributable to or recoverable from production
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3-Day Exercise Activity Analysis Starting an exercise plan is easy the problem will be sticking to it. My current exercise habits are walking for about 30 minutes at least three times a week and playing Michael Jackson’s The Experience on the Wii. These exercises allow incorporate aerobics and stretching into my exercise. I stretch before I begin to workout‚ the Wii and walking routine gets my heart rate going. During my workouts I use a waist trimmer. I zip it up around my abdominal area and
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Cost of Capital Definition: cost of capital is the rate of return that a company must earn on its project investments to maintain its market value and attract funds. The cost of capital to a company is the minimum rate of return that is must earn on its investments in order to satisfy the various categories of investors‚ who have made investments in the form of shares ‚ debentures and loans. The cost of capital in operational terms refers to the discount rate that would be used in determining the
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2‚ you should be able to: LO1 Identify and give examples of each of the three basic manufacturing cost categories. LO2 Distinguish between product costs and period costs and give examples of each. including calculation of the cost of goods sold. LO4 Prepare a schedule of cost of goods manufactured. LO5 Understand the differences between variable costs and fixed costs. LO6 Understand the differences between direct and indirect costs. LO7 Define and give examples of cost classifications
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Should all polluting activities be banned? Could pollution ever be justified? Pollution is the introduction of contaminants into a natural environment that causes instability‚ disorder‚ harm or discomfort to the ecosystem i.e. physical systems or living organisms. Pollution can take the form of chemical substances or energy‚ such as noise‚ heat‚ or light. The major polluting activities in our world are power stations‚ industries‚ cars‚ CFC gases in aerosols‚ refrigirators and manufacture of polystyrene
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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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Chapter 1 Basic Cost Concepts Learning Objectives • To understand the meaning of different costing terms to understand different costing methods • To have a basic idea of different costing techniques • To understand the meaning of cost sheet In order to determine and take a dispassionate view about what lies beneath the surface of accounting figures‚ a financial analyst has to make use of different management accounting techniques. Cost techniques have a precedence over the other
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Activity 4.6 - End of Module Questions and Analysis 1. What major trends are occurring in software? What capabilities do you expect to see in future software packages? Like at first the computers were very hard to maintain. These days software’s have made it very easy to maintain computers. The major trends or changes occurring in software’s they have too much of flexibility‚ now used for daily communication. Also are used for security systems such as use for robbing(hacking). In addition
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