How can this information be used in decision making

Assignment Help Operation Management

Reference no: EM131920980

Costs can be categorized in the following ways: Actual vs. budgeted cost Full cost vs. direct cost Fixed vs. variable vs. mixed costs Relevant vs. irrelevant costs Product vs. period Direct vs. indirect

Discuss the following questions:

Why is it important for a company to know the categorization of each cost?

How can this information be used in decision making? Provide an example of each of the cost categorizations above.

Reference no: EM131920980

Questions Cloud

Should a firm install an expensive safety device : Should a marketing manager or a business refuse to produce an "energy-gobbling" appliance that some consumers are demanding? Should a firm install an expensive.

Evaluate the optimum decision regions : Consider a binary transmission system in AWGN noise with PSD N0 2 . Let the two employed waveforms not be equally likely, that is p1 = p and p2 = 1 - p.

Explain the importance of an environmental issue : Research and explain the importance of an environmental issue (fracking, hazardous waste disposal, oil pipeline leaks, deforestation, etc.) faced by business.

What is the essence of their ideas : It is required to submit a very brief (two to three sentences) summary of the main points of the author(s).

How can this information be used in decision making : How can this information be used in decision making? Provide an example of each of the cost categorizations above.

Determine the percentage of raw material : Consider a factory where an array of N = 10 machines work in on parallel some raw materials to obtain some product. The processing of a block of raw material.

Describe some of the companys response strategies : With the advent of scanners and the universality of the portable document format (PDF), the market for optical copiers is shrinking rapidly.

Find the stationary probability of having more customers : Find the probability that the fair is visited by more than M customers in the first 30 minutes after its opening. Find the stationary probability of having more

Philosophies in operations management : What are the TWO primary philosophies in Operations Management that are used to help manage operations in the supply chain.

User Account

All Pages