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TEMPORARY CLOSURE OF FACTORY OR DEPARTMENT
Here there is a similar situation to that of discontinuance of a product such as Model N40. A factory which is expected to earn some contribution should continue in operation rather than be shut down. However, if the factory is part of a group, the decision is quite different when the output from the closed factory is not lost but transferred to another factory in the group with spare capacity. For example, a temporary fall in the sales volume of a company's products may result in either of two factories being capable of satisfying the expected demand. In this situation the company can optimize its profits by concentrating production in that factory which has the lowest marginal costs. In reaching a decision, consideration should be given to predictable cost changes generated by the decision: such as additional distribution costs, care and maintenance of the closed premises, restarting costs, and any fixed cost savings such as salaries in the closed factory.
Full cost or mark up pricing or cost plus pricing method: In this method the marketer estimates the total cost of producing or manufacturing the product and then adds it a mar
Frontier Sports sells hunting and fishing equipment and provides guided hunting and fishing trips. Frontier Sports is owned and operated by Wally Schnee, a well-known sports enthus
MOTIVES FOR HOLDING INVENTORIES If production and delivery of goods were instantaneous, there would be no need for inventories. However in reality, the manufacturing and purcha
Advantages and Limitations of Dynamic Programming Advantages: (1) In certain types of problems such as inventory control management, Chemical Engineering design, dynamic
VALUE ADDED STATEMENTS Are intended to show how much wealth or value has been created by the company’s operations and how the wealth has been shared out to interested groups e.
Computing equivalents units and assigning costs to completed units and ending work in process; no beginning inventory or cost transferred in (30 -45min) Sue Electronics makes CD
Variances Analysis Variances are the differences between actual results and expected results. Expected results are the standard costs and standard revenues. Price, rate and
Transition probabilities These are the probabilities of moving from one state to another in the next time period. Usually they are written in the form of a probability matrix.
Absorption cost Absorption, or full cost systems, transfer the full cost of the supplying department to the receiving department. Where a profit is to be allowed to the supplyi
How can we draw a break even chart Under this method the variable cost line is drawn first and then fixed cost line is drawn over and parallel to the variable cost line. The fi
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