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Service time-probability distribution curve
A common example is that service times follow an exponential probability distribution i.e. y=e-x
Service channels - these refer to the number of service points and queues; If there is only one queue, but several service counters, the customer at the head of the queue will move to the first free counter when it becomes available. Where this system operates, there is a basic multiple channel or multi-channel system.
If there are several services counter each with its own queue, there is a more complex multiple channel or multichannel system.
Traffic intensity- this is the ratio of the average arrival rate to the average service rate. Unless a service rate is faster than the rate of new customers arriving in the queue the queue gets longer. An important assumption in queuing theory is that the traffic intensity must be less than one.
Explain the Break-Even Analysis The study of cost volume profit analysis is often referred to as break-even analysis and the two terms are used interchangeably by many. This i
Selling product for 31.00 and Variable expenses are 26.00. In order to cover the fixed expenses 31,500 hats must be sold what is the Total fixed cost in dollars?
Features of product life cycle costing Product life cycle costing is important due to the following features: 1) product life cycle costing involves tracing of costs and re
The Pinewood Furniture Company Pty Ltd plans to design two lines of chairs in the coming year-lounge and patio. The company is considering introducing an activity-based costing sys
Funds produced from operations, throughout an accounting period, raise working capital by an equivalent amount. The two major components of funds generated from operations are depr
Activity based costing versus traditional costing Following are the main differences between activity based costing system and traditional costing system: Explain 1) Und
Explain the Ratio analysis according to kosher A ratio is the relation of the amount a to another b expressed as the ratio of a to b; a: b (a is to b) or a as simple fraction i
Why might managers favour this ABC system instead of the older system that allocated all MOH costs on the basis of direct? labour?
Application of Transportation Model In the direct logic, the transportation model looks for the determination of a transportation plan of a particular commodity from a number o
Disadvantages of standard costing 1) Difficulty in setting standards: setting of standards in practice extremely difficult and complicated task. First it is not possible to f
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