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.

Strategies UNIT-5P Essay Example | Topics and Well Written Essays - 1500 words

Strategies UNIT-5P - Essay Example In order to support the worldwide demand for its products, the company established seven production plants in different countries worldwide. Dell’s produces its diverse products on its manufacturing facilities located in: Austin, Texas; Winston-Salem, California; Lebanon, Tennessee; Eldorado do Sul, Brazil; Limerick, Ireland; Penang, Malaysia; and Xiamen China (Dell Annual Report 2005) As stated above, the production activities of Dell are conducted in seven locations worldwide. From this, it can be seen that the manufacturing operation of the company is highly decentralized. The company does not utilize a single production plant to manufacture all its products. Instead, it opts to establish manufacturing facilities in order to reap specific business opportunities present in a region. The geographical locations of the manufacturing plants are very much strategic as they embody the primary business model and strategy of Dell which is cost leadership. For example, Brazil is chosen as a site for production because of â€Å"its sophisticated labor force, its economic incentives to attract technology manufacturing companies in the region, and its strategic location as an export hub to other South American countries† (Mahoney, 1999). The decentralization of production enables Dell to customize its products according to customers’ specifications. This is also strongly in line with the company’s efforts of motivating employees through empowerment. These factors hinder Dell in confining its manufacturing activities in a single location. Dell strongly boasts its strategy of customizing its product and services according to the specification of the customers. The company recognizes that each customer should be provided only with the products and services which suit their specific needs. Thus, the company has installed a direct business model in order to specifically address each customer’s wants. The company’s website states that â€Å"Culture plays a

A Cultural Geography of Childhood Essay Example | Topics and Well Written Essays - 2500 words

A Cultural Geography of Childhood - Essay Example Several of these, the first portion or set of the collection, reflects an English child's experiences, and the second set are my global perspective of other children's culture, or perceived existence as may be influenced by media and other forms of information. All throughout this essay, I have incorporated texts from readings about childhood and culture.Photography is a form of art aided by technology that captures in one scene what could have been or what might happen, or exactly what is happening with the subject or subjects, in connection with the present background, at this point, his or her environment. This could either be perceived, apparent, or as interpreted by circumstantial evidence presented by the image which is called the photo. Through photography, various forms of messages, interpretations as well as representation of culture, tradition and practices are depicted. These representations embody existing as well as ideal forms of what should be or what can be, but in mo st cases, also depict what are prevalent in society. With photos of children, these depictions are quite difficult to mask or hide. Thus, they become iconographic, as is "truth" at the moment. There had been moments in time that "childhood" according to Aries (1962) did not exist as in the middle ages, although this has been criticised as inaccurate (Hanawalt, 1995) where children were controlled and restrained. Aries went on to describe children as "little adults" although modern researches also pointed out that there had been separation of a "child" and "adult" starting in medieval Europe, of which, occurrences must have ignited these change. This essay, nevertheless, will progress with modern studies that have careful consideration of how children interact with adults and the factors that affect or shape children's general views as well as their present state. First Set I have an ordinary, normal childhood experience in the United Kingdom. I stayed around at the house for most of my early memories of childhood and my mum and dad served as big people that have to look after me and my needs. I have chosen this first set to depict, what for me is a "normal" childhood. Normal in the sense that there were no extraordinary occurrences such as physical or mental abuse, early detachment of a child to his or her parents, disability experiences, among other life-changing courses. This first photo depicts a toddler and her dad in formal outfit: he in tuxedo and the baby girl in chiffon dress. At the viewpoint of ordinary audience or watcher, this was taken during a special occasion, and it could be a wedding, a church or holy day, or any event that prompts the family, which is the mother, the father and the child, or children, to dress up and join a congregation, a community, or family gathering. (1ST PHOTO/Father & TODDLER) This second photo depicts a pre-school or day care child with his buddy. They are both of about the same age range between 3-5 years old and are in the stage of discovering friendship or comradeship, as well as belonging and acceptance. Considering their skin and hair colour, as well as their outfit, both children belong to a middle class or well-off family and society. This could mean their basic needs were well-taken cared off, and with the smile and facial glow of the blond child, he appears to be contented and secured, while the other child seem to have been influenced a little with the happiness or enthusiasm

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

Marketing Plan - Research Paper Example Bearing in mind that there are other strategic competitors in this market such as Ring Central, MaxEmail has to adopt strategies that would give it a competitive advantage over its rivals. To accomplish this, Brumfitt, Barnes, Norris and Jones (2001) propose finding effective ways of addressing the competitive marketplace and supporting everyday operations. Customer targets According to Armstrong and Kotler (2003), only a fraction of the entire population in an area would buy the products from a firm. The task would therefore be to identify who these people are and then targeting the marketing efforts of the business towards them. This ensures that a business only deals with the target market that would be profitable. In the case of MaxEmail, the target market includes the 3 million users drawn from the government and business enterprises with whom it enters into contracts to provide communication. All marketing efforts would therefore be directed towards this target market. The limi ted marketing budget should be a reason for such a company to market to the 3 million users as it would be more efficient than generally marketing to the whole market. Customer segments In customer segmentation, an organization would identify different groups in the market based on their traits. There is more benefit in focusing marketing efforts on a group with similar characteristics, wants and needs that would be with a group comprising of undifferentiated people (Brumfitt et al., 2001). Customers could be segmented in various ways such as according to their demography, psychograph, geography and use. Focusing marketing efforts on a segment reduces expenses and increases revenue in an organization. There are a number of services and goods on offer at MaxEmail including fax machines and services such as fax on demand, fax broadcasting and spam checker (MaxEmail, 2012). It also provides internet services like photocopying. It would be necessary for the company to identify the vario us needs by the government, business enterprises and individuals then categorize its products in a similar fashion. This would see the firm serve each of these segments differently according to their needs and capabilities. Product position MaxEmail rides on the strength of its easy to use interface and voicemail services. The company has diversified its production to not only cover a range of fax machines but also various services that go hand in hand with this. This has been furthered by desirable customer service that gives it an edge over its rivals. Serving the government market gives it a competitive edge over its rival Ring Central which depends on individual buyers and businesses enterprises. Its lean stock makes management easy for the company. Nonetheless, the company’s products are perceived to be expensive as compared to what its rivals offer. Similarly, the products lack electronic signs which its rival Ring Central offers. The company thus faces threat from Ring Central especially now that its products are considered to be less expensive and largely diversified. Closely related to segmentation is product positioning. Product positioning entails the creation of a consistent, unique and recognized perception of customers on the general image of the organization and its products. The products or services provided by a company would be positioned based on the accompanying benefits, users, price, class, application and quality level (Armstrong &

3D Printing in the world Research Paper Example | Topics and Well Written Essays - 2000 words

3D Printing in the world - Research Paper Example This technique is a modern technique which differs in many ways from the machine techniques that were traditionally used. The traditional methods relied on the methods involving removal of materials such as cutting. This is why they were known as subtractive processes whereas 3D printing is known as additive process. The 3D printing uses the digital technology and these printers were initially manufactured by China. These printers came in the late 1980’s and ever since then they have been increasingly used all over the world. In the beginning of the 21st century, as the digital technology became more popular and advanced, the growth in the sales of the 3D printers was greatly observed. The sales of these printers increased in various parts of the world where they were used for new and innovative purposes. Gradually, as the sales and the demand grew, the costs of these printers fell immensely since they were first manufactured. Some of the purposes for which these machines were used were in industrial uses, architecture, jewelry, aerospace, engineering, medical, education, information systems and many others (Griffith, 2012). 3D printing is the technology to create materials and objects using a sequential layers technique. The materials which are produced by using the layering process can be anywhere in the product life cycle. However, the subtractive methods of manufacturing objects can be used as traditional methods in manufacturing. 3D printing was invented by Charles W. Hull (Chuck). In the mid 1980’s when it was invented, it used a stereolithography technique. This technique used a UV laser which was shined in the vat of an ultraviolet-sensitive photopolymer, and then it traced the object so that it was created on the surface. The polymer would solidify wherever it was touched by the beam, and that beam would print the particular object layer by layer as per the instructions fed in the CAD/CAM file through which it is working. CAD file is comp uter-aided design and CAM is computer-aided manufacturing. Chuck also founded a company which was called 3D Systems. The company made stereolithography machines which expensive machines of over $100,000 used in commercial techniques. 3D Systems is still operating today and now it sells the 3D printers of advanced technology. There is a variety of printers that are manufactured using different advanced technologies ranging from entry-level kits to the advanced commercial systems. The company also provides on-demand services manufacturing parts for business users. Many businesses and industries use the 3D printers and they need the machines to be up to date and maintained. There are many benefits of 3D printing which is why it is immensely used in the world today. Many designers use the 3D printing techniques to rapidly design the concepts and turn them into 3D models or rapid prototyping. It also allows for the rapid design changes which enables the designers to carry out their work rapidly and smoothly using the up to date technologies. The manufacturers are also allowed to produce the products rapidly on demand rather than on large run, which also increases the management of the sufficient amount of inventory and reduces the warehouse space. 3D printing techniques can help the people living in remote locations to fabricate the objects that would be inaccessible to them otherwise. 3D printing must be a onetime cost because once the designers and businesses have bought the machinery for 3D printing; they can save a lot of material and money which is used in subtractive techniques of manufacturing. The material in this technique is drilled, cut and shaved off; hence raw material can be wasted. 3D printing is

Ford automobile analysing the vertical integration Essay

Ford automobile analysing the vertical integration - Essay Example Generally, it is the level at which an organization controls the main suppliers and buyers, and aims at improving marketplace supremacy (Katie, 2013). In the early 20th century, Ford Corporation built a manufacturing empire unlike any other before or after based on vertical integration. Ford had chosen to produce the components and materials for its famous Model T passenger car instead of sourcing them from independent contractors or suppliers. The company also bought glass and steel mills to produce steels and window screens for its cars. In addition, Ford acquired huge tracts of land in Asia and Brazil to grow rubber trees to meet its requirements for tyre materials. These efforts culminated in the construction of the massive Rogue plant that ensured full control of all the resources that were necessary in the production of the automobiles. The first model T cars retailed at $850 but the price fell to $440 and eventually to $290 in 1925. The approach had been able to provide better quality cars at much lower prices and thus progressively increase the company’s market share. (Lu, 2011). On the other hand, General Motors, Ford’s main business rival, adopted the multi-divisional approach later on and integrated the various independent firms that were held under the umbrella firm. This ensured that the overall financial and directional decisions were made at the corporate headquarters and the operating decisisons were left to the various divisions. The large scale vertical integration was meant to achieve various objectives. Scholars believe that this was aimed at increasing control, capturing profitability from upstream suppliers, and exerting marketing dominance. This strategy was suitable with the prevailing market environment, which seemed to have enduring demand and low prices determined the market leader. However, despite the soaring sales figures, the approach also had some weaknesses. These included rigidity in asset deployment, modification of product lines and responses to demand changes (Harrigan, 2003). Analysis The Ford Motor Corporation held the dominant position in the automobile industry during the 1910s and 1920s. It held the largest market share and even briefly went over the 50 percent mark. It also reported the highest profits due to its better manufacturing innovation and a reputable brand name. in addition, its main competitors had less superior production technologies and felt the immense pressure from Ford’s market dominance and the low prices. Henry Ford was highly motivated by the vision of producing good and low-priced motor cars for the entire public and the development of technology used to mass-manufacture the cars. His ability to provide substantially lower prices than his closest competitors gave his company the flexibility to pursue these objectives. For instance, Ford’s Model T car was retailing at US$440 while the closest competitor was a Willys-Overland vehicle that was sold fo r US$ 895 (Rosenbaum, 1998). The company had started with the construction of its Highland Park plant in the 1910s, which consisted of a huge capital investment. The multi-storey building became the largest in Michigan state. Its large and open floors provided room for machinery arrangement, and the huge windows provided ventilation and natural lighting. This made the plant a good model for design of factories. In addition, it combined a foundry, a machine shop and a power plant, which brought various stages of automobile

Electoral College System Essay Example for Free

Electoral College System Essay The President and the Vice President of the United States are elected indirectly by an institution known as the Electoral College. The U. S. Constitution provides the broad framework through which electors are appointed and by which they cast votes for the President and Vice President. In evaluating the contingent election process, some commentators have suggested that any threshold inquiry requires assessing how often contingent election occurs. If the results of a general election are frequently inconclusive, they increase the likelihood of contingent election. The democratic criteria require implementing reforms that bring the people into the contingency process. Critics of the Electoral College system argue that the presence of viable and well-funded third-party or independent presidential candidates, who may be able to garner electoral votes by carrying a plurality of the votes in statewide elections, increases the likelihood of contingent election. Analysis of criticism of the Electoral College system There are several shortcomings of the Electoral College as cited by the proponents of the presidential election reform. These shortcomings have raised justifications for reform or abolition of the current system. One of the criticism is on the Electoral College is the Electoral College deadlock of the contingent election. In this one, the 12th amendment provide that the House of Representatives should choose a president and the senate chooses the vice president by contingent election if the presidential and the vice presidential candidates votes have not reached a simple majority of the Electoral College votes. The election of the president by the House of Representatives happened only once on the February 9th, 1825 where John Quincy Adams was elected as President over Andrew Jackson. This election was criticized by some commentators saying that it brought about a constitutional crisis since the president was selected as part of a political corrupt bargain because some of the presidential candidates were disqualified from the contingent election. Critics claim that this election removes the choice of president and vice president voters (Whitaker Neale, 2004). Another criticism is on the minority president which was expressed in the Electoral College misfire. In this one, the current electoral college system can result in the election of a minority president which states that the president can be one who wins the majority of the electoral votes even though he has lost the popular votes. This was experienced in the 1800s where three minority presidents namely, John Quincy Adams in 1824, Rutherford B. Hayes in 1876, and Benjamin Harrison in1888. The other criticisms are on the current methods of allocating electoral votes, the decennial census problem, and the faithless elector, presidential succession between nomination and inauguration, independent and the third party versus major party candidates. These criticisms have caused so many controversies that have made many people believe that the current Electoral College system is not a good system and therefore it needs amendment (Whitaker Neale, 2004). Advantages of various reform proposals. The electoral college reform proposals include (1)the district plan, awarding each state two at large electoral votes to the state-wide popular vote winners, and one electoral vote to the winning candidate in each congressional district; (2) the proportional plan, awarding electoral votes in states in direct proportion to the popular vote gained in the state by each candidate; and (3) the automatic plan, awarding each state’s electoral votes directly on a winner-take- all basis to the statewide vote winners (Amar, 1995). The advantages to the electoral-vote system include its tendency to produce a clear winner. The constitution is however subject to change, allowing for the second vote in case of depressed voter turnout. Great leverage is also given to third party candidates by requiring the winner to have a majority and by this it calls for fair and just elections. A National Election Agency is incorporated in the system to run the vote. However, the government also comes in to help, where the National Election Agency has fewer powers under the government (Amar, 1995). Despite the fact that the president alone is elected by the people, doesn’t mean he can legitimately defy the law. It is good to know that the elections are fair in that a presidential candidate who stands in his campaign and wins with a substantial majority of votes from the American people does of course gain the mandate. The candidate who emerges with the most electoral votes has a fully legitimate claim to the office for the next four years (Amar, 1995). Disadvantages of various reform proposals. In the U. S there is a rule that, a candidate chosen on the Election Day may not be the president. Therefore if it happens that a candidate has failed to win the national popular vote, he might be sworn in as the president by the virtue of claiming more electoral votes on than his opponents. Therefore the main disadvantage of such kind of proposal, is that if the sitting president who lost in the popular vote is returned again to power after his rejection, then there will be a wide condemnation on the Electoral college as a wacky anachronism which will lead to extensive demands for the amendments of the constitution in order for the replacement of the electoral vote with popular election (Longley, 2008). Due to this kind of proposals, there is a possibility of not telling the exact winner since the constitution is the main source of authenticity. The main disadvantage here is that there might be a possibility of both candidates having different fundamental campaigns which give different issues of emphasis and making frequent appearances in different states. Another disadvantage for this proposal is the argument on which candidate to take office and who was chosen by an archaic and wholly irrational system. If the electoral system is replaced, by the popular vote election, since it is not irrational there is a possibility of embarrassment on the president opting to be chosen by this process (Dellinger, 2004). Another greatest disadvantage of the present system of voting in U. S is that there is a possibility that the candidate who receives the most votes from the nation (people) may not take office. Therefore the present president in office may face many challenges and offsetting values since he or she was not put in by the majority. The disadvantage of the constitutional system for choosing a president in the U. S is not perfect and needs to be changed and therefore the candidate who emerges with most electoral votes has full justified claim to the office for four years (Dellinger, 2004). Conclusion It is clear that once the candidate chosen by the people of the United States on the Election Day may not become president. The candidate must choose the constitutional rules currently in place. In the voting parties, the party that receives more total votes nationally wins the parliament while the one with fewer total votes chooses the Nation’s prime minister. The constitution however, is subject to change (Longley Dana, 1992). Amending the Constitution to alter it would present a series of difficult questions: Will we give great leverage to third party candidates by requiring the winner to have a majority? Will we have a runoff, which might lead to depressed turnout for the second vote? Will we create a National Election Agency to run the vote and or leave it with the 51 governments who now run it? If those states report raw votes, will they somehow artificially increase the number of voters in the state or pad the totals—a temptation now avoided by having a set number of electoral votes for each state? These are not insurmountable objections to constitutional change, but they should certainly give pause (Longley Dana, 1992). References Amar, A. R. (1995). Presidents, Vice Presidents, and Death: Closing the Constitution’s Succession Gap Dellinger, W. (2004). Popularity contest in defense of the Electoral College, Washington Post.Newsweek Interactive Co. LLC. Retrieved October 26th, 2008, from http://www. slate. com/id/2108991/ Longley R. (2008). The Electoral College System, who really elects the president of the united states, About . com Longley, L. D. Dana, J. D. , Jr. (1992). The Biases of the Electoral College in the 1990s Whitaker, L. P. Neale, T. H. (2004, November 5). The Electoral College: An Overview and Analysis of Reform Proposals. CRS Report for Congress. Retrieved October 26th, 2008, from http://italy. usembassy. gov/pdf/other/RL30804. pdf.