Search results
Results from the WOW.Com Content Network
Present configurations of these goods that minimised the number of choices needed in order to estimate the consumer's utility function (decision rule). Specifically, the aim was to present the minimum number of pairs/triples etc of (for example) mobile/cell phones in order that the analyst might estimate the value the consumer derived (in ...
It is a method of assigning costs to units of production in companies producing large quantities of homogeneous products. Process costing is a type of operation costing which is used to ascertain the cost of a product at each process or stage of manufacture. CIMA defines process costing as "The costing method applicable where goods or services ...
Cost plus pricing is a cost-based method for setting the prices of goods and services. Under this approach, the direct material cost, direct labor cost, and overhead costs for a product are added up and added to a markup percentage (to create a profit margin) in order to derive the price of the product.
An important part of standard cost accounting is a variance analysis, which breaks down the variation between actual cost and standard costs into various components (volume variation, material cost variation, labor cost variation, etc.) so managers can understand why costs were different from what was planned and take appropriate action to ...
Best value procurement (BVP) is a procurement method that looks at factors other than only price, such as quality and expertise, when selecting vendors or contractors. [1] [2] [3] In a best value system, the value of procured goods or services can be simply described as a comparison of costs and benefits. A contractor or vendor is thus selected ...
Quality, cost, delivery (QCD), sometimes expanded to quality, cost, delivery, morale, safety (QCDMS), [1] is a management approach originally developed by the British automotive industry. [2] QCD assess different components of the production process and provides feedback in the form of facts and figures that help managers make logical decisions.
The search engine that helps you find exactly what you're looking for. Find the most relevant information, video, images, and answers from all across the Web.
Direct labour and materials are relatively easy to trace directly to products, but it is more difficult to directly allocate indirect costs to products. Where products use common resources differently, some sort of weighting is needed in the cost allocation process. The cost driver is a factor that creates or drives the cost of the activity ...