Sunk Cost-cost that has already been incurred and cannot be avoided no matter what a manager decides to do. A business segment should only be dropped if a company can avoid more in fixed costs than it loses in: contribution margin Which of the following techniques describe how a bottleneck should be managed: Find ways to increase the capacity of the bottleneck‚ ensure there is minimal lost time at the bottleneck due to breakdowns and set-ups‚ focus business process improvement efforts on the bottleneck
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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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Problem 2-43 (35 minutes) 1. San Fernando Fashions Company Schedule of Cost of Goods Manufactured For the Year Ended December 31‚ 20x2 Direct material: Raw-material inventory‚ January 1 $ 40‚000 Add: Purchases of raw material 180‚000 Raw material available for use $220‚000 Deduct: Raw-material inventory‚ December 31 25‚000 Raw material used $195‚000 Direct labor 200‚000 Manufacturing overhead: Indirect material
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During the game I play to the whistle that the referee blows and from on the sidelines‚ I can hear my coach yelling last minute moves that can get me around one obstacle or another. With my actions helping the team get a step closer to wining the game. So that after the game‚ I can walk away with a smile on my face and a trophy in my hand knowing I did my part. It makes it worth it to try my hardest in practice and drill each other to the point that no mistakes are possible. With everything I learn in
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There are several important things for an actuary to consider when setting the premium rates. They make projections of the future costs and they base these projections on historical results‚ probabilistic models‚ and their own judgments. Actuaries must consider different risk pools and make the premiums fair to all. For instance‚ they can consider statistically how likely a driver is to get into a car accident with several speeding tickets versus a driver with none. In order to use the predictability
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vague but important. It is important to understand someone before you judge them. Jem‚ Scout‚ and Dill judge Boo off assumptions‚ but soon they are able realize the reality. The importance of understanding someone before you can judge them is important because you shouldn’t judge a person from rumors and made up lies. Near the beginning of the book‚ Jem says “Boo was about six-and-a-half feet tall‚ judging from his tracks; he dined on raw squirrel and any cats he could catch‚ that’s why his hands
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Why Are Cost‚ Revenue & Profit Important? Cost‚ revenue and profit are the three most important factors in determining the success of your business. A business can have high revenue‚ but if the costs are higher‚ it will show no profit and is destined to go out of business when available capital runs out. Managing costs and revenue to maximize profit is key for any entrepreneur. Definition of Terms Revenue is the same as total income for a business and measures all money taken in through
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A) Why is the investment appraisal process so important? Capital Investment Appraisal is of fundamental importance because: 1. Large Amount of Company Resources: Involvement of large amount of company resources and efforts which will necessitate careful evaluation to be undertaken before a decision is reached. 2. Maximization of Shareholder wealth: Investment decision is linked with strategic and tactical business decisions and therefore need to achieve desired long-term objectives. The
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bizarre inventions. Thanks to these inventions things are a lot better. Some inventions can be created with just one simple accident. The inventor has to build something that can be useful to the world. What can an inventor do to ensure success? To ensure success the inventor needs to ask for people’s opinions. Therefor the inventor can see what is needed and what is not needed in the world. I know this because in the text is states‚”No matter how many times he tried the customer kept sending
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become Mali’s most famous leaders and ruled for 25 years. In this expository paragraph‚ I will be illustrating how and why Timbuktu became such an important city for the empire Mali. In the these three paragraphs‚ I will be illustrating Timbuktu being conquered‚ Mali the empire‚ and why Timbuktu became an important city for Mali. To start it off‚ I will be analyzing Timbuktu’s important history and some famous empires who’ve conquered Timbuktu. Timbuktu was founded in the 11th century by the Kel Tamasheq
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