Costing and Traditional Costing Essay Example | Topics and Well Written Essays - 2750 words

Costing and Traditional Costing - Essay Example Activity based costing affects only overhead costs i.e. direct labour and direct materials are the same under Absorption Costing Method. A single activity pool of cost is referred to as a â€Å"cost bucket† where cost outlays for a specific activity are garnered. A measure for an activity is applied as a basis for allocation while using overhead costs. A rate of activity rate refers to the predetermined rate of overhead in Activity based costing. Activities’ Hierarchy: Guides the way costs are supposed to be grouped into various pools as well as the nature activities assigned per given cost pool Unit-level activities – done every moment a unit is produced. Batch- level activities – performed each time a batch is processed. Product- level activities – must be done regardless of the number units or batches of the output are being manufactured. Facility-level activities- have to be done regardless of the products to be produced. Task 1 Full costing and Activity based costing A) Calculations using Full costing Revenue and direct costs of products Skel Foss Total Units produced and sold 15000 units 18000 units 33000 Selling price/unit 52 91 Direct labour cost/unit (2hrs*10=20) (5hrs*10=50) Direct Material cost/unit 25 30 Sales revenue (1*2) 780000 1638000 2418000 Direct labour cost (1*3) 300000 900000 1200000 Direct Materials cost (1*4) 375000 540000 915000 Total direct cost (6+7) 675000 1440000 2115000 Calculations on Overheads and indirect costs. Indirect component Products (Skel + Foss) % of Total products Bought in parts handling costs 96000 40% Materials handling costs 38000 15.83% Sales invoicing costs 20000 8.33% Machine set up costs 26000 10.84% All other overheads 60000 25%... The paper tells that costs objects take in activities and activities take in resources. Resource cost outlays are allocated to activities based upon their utilisation of the mentioned resources, while activity cost outlays are allocated to cost outputs with the basis being cost objects in proportion to utilisation of those activities. Activity based costing puts into account causal relationship between costs and activities and between activities and resources. Using activity based costing management technique can considerably improve the financial health of a firm as it presents the real picture or the factsheet, as the activity based costing technique tracks the cost objects utilized in the activities and, thus, the factors consumed in the same activities, to determine correct individual overheads instead of simply linking on the volume. The activity based costing concept as a costing technique takes into consideration both factors. That is, the activity drivers as well as the resou rce drivers to come up with the product’s price or service. It is essential to realize that the profitability of a firm not only relies on the sales of the service or product, but also on the expenses concerned in the making of that specific service or product. In a given case study of parts of an automotive manufacturing firm located in the nation by the name Norway, it was then proven that just a minute portion of their line of products had a positive economic profit as well as return upon sales. As a matter of fact when the economic profit and operational profitability of their line of products were classified and columned side by side, that was an eye opener.

Keynesianism Research Paper Example | Topics and Well Written Essays - 1000 words

Keynesianism - Research Paper Example Estimated to be worth about $787 billion, the stimulus issued by the Obama administration was to save over 90,000 jobs (Calmes, 2009). The stimulus was broken down to $288 billion, allocated to tax cuts, $224 billion for unemployment benefits, education and healthcare, and $275 billion for job creation through grants and loans from government. The main aim of the plan was to restore confidence in the economy and to spur economic growth given the monetary policy had failed to save the situation. It was also to bring confidence by reducing bonuses to senior executives whose companies had received TARP funds. According to Williams and Calabrese (2013), in a scientific society, there are about four types of theories: descriptive, explanatory and predictive, instrumental and normative. Descriptive and explanatory theories can be categorized under positive while the other two are grouped under prescriptive or normative. Descriptive theories can be said to be forerunners of explanatory theories as they tend to find how different constructs are interrelated. These may include core elements, characteristics, relationships, or dimensions. They are meant to set stage for explanation and prediction. Explanatory theory on the other hand gives insights on what caused an outcome in way that it can be observed. Predictions come in as a test of explanations. instrumentals depend on predictions, they work on the fact that if something occurs, another thing will occur as a result. The Obama Stimulus was positive in nature. It focused on the actual facts on the ground as opposed to general assumptions. At the time of its launch, unemployment rate was at 9%, and to solve this, the government allocated $275 billion for job creationin since monetary policy had failed to bear concrete fruits. This plan was also based on normative theories as it determined how the economy behaved within a time frame of ten years. Within this

Manager in a Big Corporation Essay Example | Topics and Well Written Essays - 2750 words

Manager in a Big Corporation - Essay Example The product of Nestle mostly contains baby food, packed water, cereals, coffee confectionary, dairy products and snacks. It is considered that the company has 28 brands under its umbrella that includes well-known brands like Nescafe, Kit Kat, Smarties, Nesquik, and Maggi among others (Kowitt, 2010). It has also been viewed that the company nearby has 450 manufacturing plants that operates in more than 86 countries globally providing employment opportunities to more than 328,000 people. Nestle holds around 24.5% share of L’Oreal Group which is considered to be the world’s largest cosmetic group (Mulier, 2011). It is worth mentioning that Google have announced that it would name the next android after the ever popular chocolate wafer of nestle i.e. Kit Kat. However, over the year the company has been under varies controversies that have affected the brand image to a great extent (Kelion, 2013). Problem Definition Despite Nestle’s best effort to design, manufacture and sell safe and reliable products there stills remains probabilities that the product manufactured may contain dangerous and defective aspect and that may reach the consumer or the final customer. Correspondingly, there have been several instances when the company has to recall its products causing financial loss and hampering the goodwill of the company. Notably, a product recall is a situation or recall made by a company to return a batch or an entire production made of a particular product range usually resulting from the discovery of safety issues or a product defect (Foerster & et al., 2011). Product recall is usually a way of decreasing the liability resulting from... This paper stresses that unique liability challenges co-exist for every organization despite of conducting business in sales, manufacturing or distribution of products to the final customers. It is vital for every organization to provide the best quality product to their customers. In certain cases, it has been viewed that lack of proper operational aspects results in certain activities which sometimes affects the organizations brand image. Among all product recall is considered to one such corporate situation that could disturb a manager. The major reason behind product recall is considered to be resulting from lack of proper guidance and poor working condition. Additionally, it is believed that good knowledge of the standard packaging measures also leads in product recall by a company. This report makes a conclusion that in today’s corporate world Product recall is considered to be more prevalent that it was decades ago and has therefore become an inevitable part of business. In this competitive business world the issue of product recall plays a vital role as it not only helps in maintaining the leading position amid its customers but also helps in understanding the role and responsibility of an organization towards the society. With reference to the above discussion and finding obtained from the research conducted, it can be stated that adaption of modern technological aspects would serve as an effective way of mitigating the issues contributing towards the product defects and thereby reducing the challenges of product recall.

A Good Fall by Ha Jin Essay Example | Topics and Well Written Essays - 1250 words

A Good Fall by Ha Jin - Essay Example The characters I this book seem to have lost all hope and to find accommodation in this new country becomes a struggle not with the American society but with the self. The characters manifest a sense of restriction and they seem to be in exile not only from chine their homeland filled with sweet memories and dreams, but from who they really are. This paper primarily offers a contrast between the lives of two characters in the book, the freedoms and imprisonment that they are encountered with. This story depicts the experience of a Chinese student immigrant who live in the United States and receives a call from his former much admired-professor who plans to visit the United States with a delegation of educators. The professor and student visit an American scholar and the professor is proud to have outshone the American scholar. Due to this happening, the Chinese professor decides to stay in America illegally and he is imprisoned they the thought that any human being should be allowed to live free as a bird, uncontrolled by any man-made orders. He starts earning a living as a bus boy and when he is tracked down the professor runs away and opts for a life devoid of the world. A simple visit to the United States by the professor had turned into a spy mission that resulted to the professor to defect and refuse to return home. He believes that any individual should be buried anywhere they die (Ha 58). This story brings forward the â€Å"wartime couple† this are two immigrants living together in the United States, though not a genuine couple, they help each other with not only their financial burdens, but also to ease each other’s loneliness. This so comfortable arrangement is disrupted by the arrival of their respective spouses, this incident not only leads to their separation, but also leads to a break up with their cultures as Panbin declares to never date another Chinese woman in his life. This shows a move away from the

Paintings and allusions in English Patients Essay

Paintings and allusions in English Patients - Essay Example The essay "Paintings and allusions in English Patients" explores The English Patient, a recipient of the Man Booker Prize and the Governor General’s Award, written by a Sri Lankan-Canadian novelist, Michael Ondaatji. The reference comes to light when Kip surveys the chapel with his rifle telescope, â€Å"reached the great face and was stilled by it, the face like a spear, wise, unforgiving. (77)†. When Kip asks a fellow soldier about the true identity of the face, he learns that it is indeed the â€Å"great face† of Isaiah. The painting is a clear depicting of the catastrophic prophecies of Isaiah with regards to the Satanic bombing of Japan. The novel thus challenges the apocalypse (the nuclear bombing) by highlighting a community oriented eschatological society (through the means of Kip). The Queen of Sheeba, also known as â€Å"queen of the south† in the Hebrew bible, is in reality from a South African origin, which apart from other things, talks of kin g Solomon. In the book, The English Patient, her chastity is symbolized by the statue of Virgin Mary. In the passage from Isaiah 60:0; â€Å"And they from Sheeba shall come; they shall bring forth gold and incense; and they shall show forth the praises of the lord.† This is a clear indication that Sheeba is indeed a provider of wealth and a friendly giver. Out here, the chastity of Kip was given a tight joust when catastrophe struck on Japan in the form of an atomic bomb. David and Goliath is a painting by Master Caravaggio, who happened to be an Italian Baroque master.

International Investment In China Essay Example | Topics and Well Written Essays - 2500 words

International Investment In China - Essay Example However, associated with these opportunities are also risks confronting the businesses in the context of international investment. This essay primarily encompasses the direct investment concerns in the international business spectrum and also presents the case of Shell plc as an example of UK's direct investment in China. There has recently been an increasing trend on the part of the multinational corporations from the developed world to enter into trade and investment with emerging economies of the world. There happen to be several factors responsible to induce the foreign companies to invest in less developed or emerging markets. Samli and Kaynak (1984) refer to the concept of emerging markets as similar to less developed countries characterised primarily with agriculture based economy, high population growth levels, lower income levels, low literacy level, lack of substructure, and lack of capital etc. China is also one of the emerging economies of the Asian world, which is speedily climbing the ladders of economic progress and prosperity through a remarkable growth in various industrial and economic sectors. The recent rapid economic boom in China and open market policy has projected the country's image in the world as an attractive market for international investment (Sun and Chai, 1998). ... Chinese government and financial environment purposefully support and encourage multinational companies to enter the market so that it can affirm the consistent progress of the Chinese economy (Zhao, 2003). In the same vein, several UK companies having identified and analysed the opportunities in the Chinese market are making direct and indirect investment in the country that brings foreign reserves to the country as well as happens to be profitable for the these corporations. Huaning and Colin (2004) refer to the United Kingdom as the pre-eminent investor in China during the recent years among all the European Union countries. Case: Shell's Investment In China Shell happens to one of the major investor in Chinese market. In the year 2002, it entered the oil market of China with an investment of 255m (FT.com News, 2002). The company further expanded its business activities in the country and recently the company confided to a project concerning coal exploitation in a joint venture with a Chinese partner with a prospective investment of about 2.7b, probably the largest ever investment received by the country (FT.com, News, 2006). In this way, Shell plc invested in the Chinese market by way of direct investment. The increasing interest of Shell plc in the Chinese market is reflective of the investment attractiveness of the country with regard to its inexpensive labour, growing economy and surging demand. Determinants And Merits Of Investment By UK Companies In China Changhong and Weili (2002) propound that there happen to be two significant forms through which the multinational corporations invest in a developing country viz.

A Good Fall by Ha Jin Essay Example | Topics and Well Written Essays - 1250 words

A Good Fall by Ha Jin - Essay Example The characters I this book seem to have lost all hope and to find accommodation in this new country becomes a struggle not with the American society but with the self. The characters manifest a sense of restriction and they seem to be in exile not only from chine their homeland filled with sweet memories and dreams, but from who they really are. This paper primarily offers a contrast between the lives of two characters in the book, the freedoms and imprisonment that they are encountered with. This story depicts the experience of a Chinese student immigrant who live in the United States and receives a call from his former much admired-professor who plans to visit the United States with a delegation of educators. The professor and student visit an American scholar and the professor is proud to have outshone the American scholar. Due to this happening, the Chinese professor decides to stay in America illegally and he is imprisoned they the thought that any human being should be allowed to live free as a bird, uncontrolled by any man-made orders. He starts earning a living as a bus boy and when he is tracked down the professor runs away and opts for a life devoid of the world. A simple visit to the United States by the professor had turned into a spy mission that resulted to the professor to defect and refuse to return home. He believes that any individual should be buried anywhere they die (Ha 58). This story brings forward the â€Å"wartime couple† this are two immigrants living together in the United States, though not a genuine couple, they help each other with not only their financial burdens, but also to ease each other’s loneliness. This so comfortable arrangement is disrupted by the arrival of their respective spouses, this incident not only leads to their separation, but also leads to a break up with their cultures as Panbin declares to never date another Chinese woman in his life. This shows a move away from the