3258 SE PT E MB E R 26 , 200 8 R I CH A RD S. T E D L O W HEATHER BECKHAM Harrington Collection: Sizing Up the Active-Wear Market On January 22, 2008, financial results for Harrington Collection’s 2007 fiscal year were distributed to all senior executives. Harrington, a large manufacturer and retailer of high-end women’s apparel, had posted lackluster sales for the past three years and margins were now at an all time low. Sara Huey, Vice President of Strategic Planning, gathered her
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4-1 Traditional cost accounting systems assign operating expenses to products with a two-stage procedure: 1. expenses are assigned to production departments; 2. production department expenses are assigned to the products Departmental structure influences the first stage allocation process. Production Departments refer to departments that have direct responsibility for converting raw materials into finished products. Service departments perform activities that support production such
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case for return on investment (ROI) as a primary tool for forecasting and evaluating the benefits of training and explains the steps involved in conducting an ROI analysis. Contents Measuring the success of training Forecasting and measuring costs Forecasting and measuring benefits Calculating return on investment Making ROI work for you Measuring the success of training The evaluation of training, like motherhood and apple pie, is inherently a good thing. But, because short term priorities
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Question 1: After reviewing the overhead-expense allocations made from CYSL to the Craddock Cup we have determined that the allocations made must be revised. The allocations currently in place are based solely on direct labor hours; however, this does not lead to the most accurate allocation of expenses. For Rivaldo and Renne Jansten’s salary allocations direct labor hours makes is correct because the amount of hours they work on the tournament should be a reflection of how much they are
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of a cost allocation plan. This basically means establishing a system that defines how you will allocate expenses across the various functional areas and to specific programs. For example, let’s say that those involved in administrative functions take up 20 percent of your office space. You might then allocate 20 percent of an expense like paper to the administrative functional area. A cost allocation plan can be extremely useful in determining how much a program or activity actually costs and
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1. Activity costing would be appropriate 1. An activity-based costing system may be appropriate for Wall Décor, when overhead allocation based job-order costing provides product cost distortion. As seen on previous case, this distortion happens when one product is manufacturing in high volume and the others are manufacturing in complexity as well as in low volume. In this situation Wall Décor should change its costing system for selling its high volume produced products whereas low-volume produced
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the Farm Financial Standards Council, certain allocations are considered in each department of the farming process in order to better manage financial aspects of the farm. Although some of these allocations may prove logical and assist in determining costing, some of the decisions may not be as beneficial in this case. This research will address those benefits as well as the potential drawbacks of such mentioned allocations, and if traditional cost accounting or activity based costing (ABC) would
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What is an ideal management control system Management control is a process of assuming that resources are obtained and used effectively and efficiently in the accomplishment of the organization’s objectives. It is a fundamental necessity for the success of a business and hence from time to time the current performance of the various operations is compared to a predetermined standard or ideal performance and in case of variance remedial measures are adopted to confirm operations to set plan or policy
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Institutional cost and its implications for educational development (M.phil Education (2014-16)) INTRODUCTION Before discussing the concept of cost of education, it is necessary to distinguish between the terms, ‘expenditure’ on education and ‘costs’ of education which are often synonymously used. That part of expenditure which has some relationship with the production process and the output only can be referred to as costs. A major part of costs are a part of expenditure but not vice
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Question 1. :-Define economics? Answer:-It is the study of allocation of resources available to organization or business. It is fundamentally concerned with the art of economizing i.e. making rational choice to yield maximum return of output in minimum resources & efforts by selecting best alternative course of action among various. Question 2. : - Contraction and extension of demand? Answer:-A variation in demand implies “extension” or “contraction” of demand. When with
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