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Improvement in product design may result in cost reduction illustrated below:
1) Material cost : change in design of the product may result in saving in material cost. Economical substitution for existing material may also be considered. for example , in manufacturing kitchen utensils, brass may be substituted by cheaper alloys. In curtain rings , metal may be substituted by plastic.
2) Labour cost : improvement in design may result in reduce operating time.
3) Factory over head : reduce operating time not only helps in saving in labor cost but also in factory over head,
4) Packing and transportation : compact design of a product result in reduced cost of pacing and transportation.
5) Cost of tools , jigs and fixtures can be reduced through deign improvement.
Two types of costs concerned in factoring are as: 1) The service fee or factoring commission 2) The interest on advances granted through the factor to the firm. Factoring
Ageing Schedule: AS is classifies outstanding accounts receivable at a specified point of time into various age brackets. A clarifying ageing schedule is specified below.
Characteristics of cost reduction 1) Cost reduction must be real : said through increase in productivity change in product design improvement in technology etc. 2) Cost r
Painter Ltd, which manufactures and sells a single product, is currently producing and selling 102,000 units per month, which represents 85% of its full capacity. Total monthly cos
EMERALD LTD is planning an expansion programme,which will require Rs 30 crores & can be funded through one of the following 1.issue further equity share of Rs 100 each at par.
Project C would involve a current outlay of $50,000 on equipment and $15,000 on working capital. The investment in working capital would be increased to $21,000 at the end of the f
Prerequisites of a sound variances analysis system A variance analysis system would be good enough in controlling costs and evaluation performances if the following requirement
Categories of zero base budgeting The preceding discussion will reveal that zero base budgeting is based primarily on: 1) Development of decision units 2) Identification
what is master budget?
Budget Preparation The organization's budget is ready following the acceptance and sanction of the decision packages. Once the budget of organization has been accepted manager
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