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Does waterway's current compensation system seem to fit the company's strategy of aggressive growth and product innovation?
Read Management by richard l.Daft
What is Positioning of production system in manufacturing and services?
Positioning the production system in manufacturing means selecting the type of product design, type of production processing system and the type of finished goods inventory policy for each major product line in the business plan.
How can an expert system improve efficiency of a company?
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What is the full form of MIS in company?
Management Information System
Which model is suitable for staff management system?
Depending on the size of the company and the individual employees, the model that is suitable for a staff management system will differ. For example, a small company with few employees will use a more personal system than would a larger corporation.
Why do you need product costing system?
needs of product costing system
When is a job order costing system more appropriate than a process costing system?
Job order costing is more appropriate than process costing when the product being produced is a custom product
What is the difference between traditional based costing and target costing?
Traditional Cost Accounting System: In this system company first produce the product and then determine the cost of production and then try to sell that product at price covering that cost plus certain percentage of markup on cost.Target Costing: In this system first of all company determines the value of product in the eyes of customer that is how much a customer is willing to pay for the product and then if cost of production of that product is more then the customer willing to pay then company makes analysis of how they can reduce the cost of production to the level of cost a customer willing to pay by reducing the components of product which is costing towards final price but not giving any value to customer and in this way company tries to acheive the target cost customer willing to pay.
What are the differences between activity-based absorption costing system and traditional absorption costing system?
An activity-based absorption costing system defines the cost by how many activities a product unit uses. A traditional absorption costing system defines the cost by how much money went into making the product unit.
Distinction between standard costing and actual costing?
Standard costing is process of determining the standard price require to produce one unit of product while actual costing system uses the actual prices of manufacturing one unit of product.
What are the purposes of a product-costing system?
planing, cost controlling, directly and decision making.
Why do some companies find it difficult to use or inappropriate to implement a standard costing system?
A company that makes a variety of highly individualized and specialized made-to-order goods, using a variety of inputs, would find it more difficult to inplement standard costing than would a company that makes a simple, highly stardardized product. Standard costing can also be inappropriate when the cost of inputs fluctuates wildly.
Why does over costing and under costing occur with traditional costing system?
Over costing and under costing occurs because overhead cost is applied first using some ratio to find out the cost of product before the process of production done and actual cost found.
What is the difference between target costing and life cycle costing?
In Target costing system, comapnies tries to achieve target prices by reducing those parts of activity which are not increasing the value of product. Life cycle costing is a concept in which companies tries to read the overall process of development of product life cycle and tries to minimise the cost at area where it is not required or not increase the value of product.
What are the pros and cons of using a variable product costing reporting system with a JIT inventory system?
Please visit these Web sites for detailed information regarding variable product costing and JIT inventory systems: * http://www.smccd.net/accounts/nurre/online/chtr7.html * http://www.maaw.info/5partsofcostsystem.htm
Where are the product cost accumulated in a job costing system?
This is the total expenses paid to buy or produce a finished product from an initial point in time to the current point in time.
In a process cost system who is a production cost report prepared for?
In a process cost system, a production cost report is prepared by management for management. The purpose is to determine the efficiency of the production operation and examine cost reducing alternatives. An example of a business that would use a process cost system would be a manufacturer that continuously produces a homogeneous product. For example, a soda bottling company produces the same product day after day. The costs associated with producing that product include the raw materials or ingredients, direct labor and factory overhead. This is contrasted with the cost system used by a printing company. In the latter case, the company would use a job order costing system. The job order costing system would specify the costs associated with producing a particular job order. In the example of a printing company, there would be a set-up charge that would depend on the work involved in preparing the job.
