Cost drivers‚ as propounded by Porter (1985) are the structural causes of the cost of an activity in the value chain. They determine the behaviour and level of costs within an activity. A cost driver can be completely‚ partly or not at all under the control of a firm. It is therefore important for a manager to understand these factors because according to the Neo-classical model of the firm‚ the firm’s objective is to maximise profit by producing a given level of output at the minimum cost level
Premium Costs Vertical integration Strategic management
1. Basic Concepts Product cost = Direct Labor (DL) + Direct Materials (DM) + Manufacturing Overhead (MOH) Financial accounting Managerial Accounting + Sales + Sales - COGS - Variable Costs = Gross Profit = Contribution Margin - SG&A - Fixed Costs = Net Profit = Net Profit COGS (Cost of Goods Sold) is an “inventoriable cost” ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold SG&A (Selling‚ General & Administrative) are
Premium Costs Management accounting Cost
Printed matter. For private circulation only LIVING WITH DIABETES IS STILL SWEETER NOW WITH STAR HEALTH Now you may also buy Policy online at www.starhealth.in 4 5 6 9 1 1 13 15 17 22 24 26 Star Criticare Plus Insurance Policy Diabetes Safe Insurance Policy Diabetes and the eye Diabetes Complicating Pregnancy Diabetic Diets Cardiovasular Disease & Diabetes Mellitus Infections and Diabetes Prevent Diabetic Kidney Disease Diabetes‚ Depression and Stress Fitness Section Time to get
Premium Kidney Hypertension Diabetes mellitus
compensation for that week would be ____. And assuming bread works changes overtime premium and idle time to indirect labor‚ the amount of this compensation credited to indirect labor would be _____. a. ANSWER: $2240:$680 5. Lots of Stuff Company reports the following data for its first year a. COG manuf $455‚000 b. WIP inv beginning $0 c. WIP ending $140‚000 d. Direct materials used $110000 e. Manuf Overhead $185‚000 f. Fin goods inventory beginning $0 g. Fin goods inventory ending $90‚000 i. ANSWER:
Premium Inventory Cost of goods sold
Chapter7&8 discussion questions CHAPTER 7 Discussion Questions : #2. Why is there a trend toward cross-functional integrated enterprise systems in business? Due to positive turnout of many businesses‚ cross-functional integrated systems is not only becoming a trend but will be here to stay. The whole system provides savings from time‚ cost and quality compared to manually re-entering of data from one business function system into another system especially if it is still on a non-integrated
Premium Accounting software Supply chain management Accounts receivable
Health economics - The Primer This series of articles will introduce readers to the emerging field of health economics. We will review how health economics influence decision making process in health care and the basic tools used in health economics. * 1. The Role of Health Economics * 2. Cost of Health Care * 3. Should Oncologists Care About Cost-Effectiveness Analyses? * 4. Classification of Health Economic Analyses * 5. Health Economics Research: Cost Utility Analysis
Premium Health economics Costs
TEST BANK CHAPTER 1 Intercorporate Investments: An Overview MULTIPLE CHOICE Use the following information on a company’s investments in equity securities to answer questions 1- 4 below. The company’s accounting year ends December 31. | |Date of acquisition|Cost |Fair value |Date sold |Selling price | |Investment | | |12/31/10 | |
Premium Balance sheet Generally Accepted Accounting Principles Asset
CHAPTER 1 (Introduction to Management Accounting) P-1-4A The following data were taken from the records of Clarkson Company for the fiscal year ended June 30‚ 2014. Raw Materials Factory Insurance $ 4600 Inventory 7/1/13 $ 48000 Factory Machinery Raw Materials Depreciation 16‚000 Inventory 6/30/14 39‚600 Factory Utilities 27‚600 Finished Goods Office Utilities Expenses 8‚650 Inventory 7/1/13 96‚000 Sales Revenue 534‚000 Finished Goods Sales Discounts
Premium Costs Variable cost Total cost
ASSAIGHNMENT NAME | DIVYA J.JATHANNA | ROLL.NO. | | COURSE | MBA-SEMISTER-1 | SUBJECT | MANAGERIAL ECONOMICS | SUBJECT CODE | MB0042 | LEARNING CENTER | TRACKS INDIA INFOTECH - 01508 | ASSIGHNMENT NO | | DATE | | SET 1 1) Mention the demand function. What is elasticity of demand? Describe the determinants of elasticity of demand. Answer: Demand function: The demand for a product or service is affected by its price‚ the income of the individual‚ the price of the other
Premium Economics Supply and demand Inflation
3.1 Communication and professional relationships with children‚ young people and adults. 1.1- Effective communication with children is important because it contributes to their everyday learning. Positive relationships with children‚ young people and adults are made via effective communication‚ therefore communication is very important through the means or gestures and spoken language. Having effective relationships with parents and adults adds to pupil support if the communication is strong and
Free Knowledge Understanding Respect