Report On Product Costing For Dumbellow Ltd Essay

Report On Product Costing For Dumbellow Ltd - Essay Example Furthermore, the production manager considered re-organization of production activities and also the use of a cheaper component of product Z. though all these proposals are viable; they have various shortcomings which may outweigh their expected benefit. In addition, a comparison of marginal costing and full costing (absorption costing) is dealt with in this report. The advantages of using marginal costing instead of full costing, in decision making, are discussed. In conclusion, the shortcomings of the analyses of various proposals examined in this report are identified. Recommendations on the best way to handle the case of product Z are also discussed at the end of this report. Key strategies that were recommended include reorganization of the production processes and the termination of the product. 2.0 Background Information Dumbellow Ltd is a manufacturing company that produces three industrial valves which are incorporated into equipment used in the Oil and Gas industry. The boa rd of Directors of the company is meeting on 3rd of October to discuss the draft budget for the following year, a few months before the start of that calendar and financial year. They are concerned about two issues; the deterioration of product Z in terms of its profitability in the present period and the financial year and the failure of the company to make a total profit of at least ?400k to meet their required 20% return on capital. Owing to the dissatisfaction of the board, the managers of Dumbellow Ltd raised varying proposals on ways to boost the profitability of the company. These diverse views prompted the formation of a group of five members with an objective of writing this report and making recommendations to the board on the most optimal course of action (Lewis, 2001). 3.0 Marginal Costing and Absorption Costing Marginal costing, unlike full costing, focuses on the additional costs of producing one ore more units of a product or service. Under this method, the cost of ma terials and labour are the only components which make up the marginal cost. Other costs such as rent and taxes are considered fixed since they will have been covered. For this reason, marginal cost is easier to compute and thus preferable for quick decision making. Besides saving on time, marginal costing it helps in the generation of additional profit. Every organization aims at maximizing profits which in turn facilitates growth of the business organization. One of the ways of maximizing profits is through reduction or minimization of costs, mostly the costs of production. Dumbellow ltd, for example, through marginal costing can utilize the spare capacity available to produce more of their products. In this case, fixed costs will not be considered since they are already paid; only labour and material costs matters. This enables managers to see quick means of generating extra profit. However, if full costing is used by the company to access the cost of producing extra units, it wil l be found unprofitable or t result in negligible profits because of fixed costs included and it will require a lo of time (Elliot & Elliot, 2004). Marginal costing brings about better performances but significant risk is experienced. Businesses using full costing sets their prices by ensuring that all costs are covered and a profit margin is also included. This calculated profit

The impact of Japanisation, lean production and high performance work Essay

The impact of Japanisation, lean production and high performance work practices in the UK Workplace - Essay Example The effectiveness of these techniques in practice has led many managers internationally to adopt these techniques; in this way the so-called ‘japanisation’ has become a common phenomenon within modern firms (referring to the management styles used throughout modern organizations). In most cases, the effectiveness of Japanese management techniques is based on the radical increase of employees’ performance; lean production as developed primarily by Toyota is extensively used by firms within the modern market in order to support the improvement of organizational performance: a target that is being achieved in most cases. On the other hand, because there are cases where the adaptation of Japanese management techniques do not lead to the increase of the employees’ performance (and the following increase of the firm’s profitability) it is necessary to identify the key elements of the Japanese techniques’ potential failure ensuring at the same time t hat alternative management techniques – effective ones – will be available to managers worldwide. The design and the development of management practices in workplace should be decided taking into account the cultural and social characteristics of the specific region. The culture of the particular organization should be also taken into consideration. The specific issue was examined by Soutar et al. (1999, 203) who noticed that ‘culture is an important idea as it deals with the way people live and approach problem solving in a social and organizational context’. In accordance with the above view, management practices in countries around the world are expected to present significant differences; however it has been proved in the literature and the empirical research that in modern workplace the practices followed by managers are similar; it’s just the fact that this similarity is further increased when referring to firms established in the same country.

Sexism Essay Example | Topics and Well Written Essays - 1750 words

Sexism - Essay Example Gender would be considered as a social construction. The opportunities and treatment that face people would largely be presented in reference to such a person’s sex, hence a form of discrimination referred to as sexism. Benatar defines sexism as economic and cultural structures that create and propagate rigid. and elaborate sex-marking and sex-announcing patterns that cause division of the species based on sex into subordinates and dominators. Sexism would thus be considered as systemic where the system favours those with overall power. It is basically the wrongful discrimination of a person on the basis of such a person’s sex. The wrongfulness of this discrimination could be out of individual beliefs about a particular sex or because such a discrimination would unjustly harm the discriminated persons. The dominance of one sex in any society would imply that there is a sex that is being oppressed. Benatar (12) introduces first sexism in reference to cases where girls ha ve been victimised. These girls and women have been killed due to their female sex in places where there is strong preference for sons, referred to as female infanticide. Widows would also be forced to end their lives in the name of rituals such as the India’s sati. Neglect could also cause deaths of girls and women especially in times of short food supplies in communities where sons would be prioritised as girls would be left to die out of malnutrition. Many millions of girls have been deprived of education as the boys on the other hand would be provided with education. Even in places where girls would be allowed to access primary education, the ladder tilts to favour the boys in higher education. In Saudi Arabia, women have been prohibited from riding motorcycles or bicycles or driving vehicles. Sexism through language Language has perpetuated male dominance through trivialising, ignoring and sexualising women. The use of he in cases of unspecified sex and the generic term mankind in reference to humanity are some example in English that enhance sexism. Additionally, promiscuity would usually be applied to women only. Towards the end of the 20th Century, gender neutral language had been promoted and has been largely attributed to feminism rise. This language avoids gender specific titles and other usage considered to be sexist. Supporters argue that gender specific title and pronouns exhibits systemic bias that excludes people based on their gender. Their proponents however argue that promoting gender neutral language would lead to grammatical distortion of meaning. Other languages around the world, in contrast to the western Indo-European languages had gender specific pronouns arise recently in the early 20th Century. Turkish is one of the examples. Colonialism saw most cultures revolutionise in an attempt to be modernised or westernised through addition of gender specific pronouns. As a result, about a century ago, these gender neutral pronouns beca me gender specific. Sexism in mass communication media Mass media, including movies, newspapers, television and magazines widely reflect what the society assumes about gender. Movies, particularly pornography objectifies gender by depicting scenes where women would be coerced, humiliated, dominated or even sexually assaulted. It entails psychological, physical or economic coercion of the women folk to perform and model in such movies. But with the modern rise in feminism, magazines have largely been concerned with the achievements of women. Despite this, various magazines still define women in reference to men behind them. Eitzen and Baca-Zinn (268) document studies which have shown that

Job selection Practical Essay Example | Topics and Well Written Essays - 2000 words

Job selection Practical - Essay Example y-rated computer and information systems professional with nine years of comprehensive knowledge in organization, maintenance, development and implementation of information systems along with software to assist firms to stay competitive through training staff, supervision of security operations and giving advice to management on the probable consequences of changes in technology, in addition to broad customer care experience in a fast-paced and highly technical environment. Demonstrated track record in regard to delivering excellent quality project governance that includes the assessment of risks, status reports, project proposals and plans as well as requests for project change 4. Have you improved the telephone or email system of your organization to VOIP or an integrated messaging system? Provide a description of the procedure and the attributes that influenced the choice of the new

Contemporary Management Assignment Example | Topics and Well Written Essays - 2500 words - 1

Contemporary Management - Assignment Example Organisations are established with the aim of being successful in meeting set objectives for the management. Being successful in Organisational management requires interplay of many factors. It is a whole process ranging from people management to successful application of strategies that deliver expected outcomes. In addition, there are many interpersonal and intrapersonal skills which when effectively implemented, are crucial towards achieving success in established organizations. In order to appear effective and successful, most Organisational managers themselves competitive advantages by scouting for best talents in human resources. In doing this, they hope that the key personnel can successfully achieve business objectives and deliver quality work to attract clients, hence becoming successful (Right Management 2014, para 1). Generally, there are many tools, strategies and formulas available to managers on how they can effectively work with both human and non-human resources to meet strategic goals and achieve Organisational objectives. Many of the tools available to managers will always present an extensive analysis of a single tool giving it more preference. When managers apply this tool it becomes strength to the organisation. Having wide knowledge about a certain concept is a huge advantage since it gives an organisation a competitive advantage. When the challenge arises it is usually effectively tackled and the organisation continues with normal operations without worries and doubts (British Quality Foundation, n.d, para, 2-3). However, the above approach is not very desirable in effective organizational management, there are many areas that drive overall success in organizations. Being good in one area alone means there are many others sidelined. This may bring a scenario where benefits from a particular initiative may not be celebrated or shared in the entire business organisation. Quality standards stipulate that

Role of technology and Cultural Competence Essay

Role of technology and Cultural Competence - Essay Example Teaching practices have become more efficient and effective, alongside enhancing creativity and innovativeness in the application of these technologies by students. Moreover, shifts in teaching paradigms have been realized (Bates & Poole, 2003), allowing both teachers and students to counter emerging negativities related to technology in the teaching and learning context. Cultural, social, economic, and political factors influence education in variant ways. In this respect, the assertion that public education responds primarily to political, not economic forces generates a critically arguable statement. Personally, public education addresses more than just the political factor. There are many and different stakeholders involved in the operationalization of the education sector (Prensky, 2008). On the same note, the teaching and learning environment is characterized by diverse players that exhibit differentiated interests in an education context. It is hardly arguable that all these stakeholders are politically motivated. Therefore, public education encompasses many forces, both political and economic included. The contemporary classroom environment within and across countries is characterized by cultural diversity. Multiculturalism in the global context has become essential as the internet breaks local, regional, national, and international boundaries (Montgomery, 2001). Teaching and learning practices are increasingly becoming influenced by multiculturalism, following the opening up of education to the international community. In American context, the classroom environment is made up of domestic and international students (Irvine & York, 2001). Their coexistence is coherent when multiculturalism in play. Multiculturalism informs the manner in which global diversity is being dealt with. (Paley, 1992; Gurian & Kathy, 2004) contends that the internet has enhanced global interconnectedness, thereby raising the significance of

Summary of two articles Essay Example | Topics and Well Written Essays - 250 words

Summary of two articles - Essay Example tin also acknowledges the Philippines’ move to draft and enact environmental laws but it is of concern whether the implementation would be successful. The United States affirmed its commitment to environmental conservation with the planned installation of windmills that is more preferable than solar power at the Adirondack Park. In her article â€Å"Will Warmer Soil Be as Fertile†, Lance Frazer (2009) explains the role played by soil in organic matter decomposition. She also explains how heating of the atmosphere hastens plant photosynthesis. Frazer (2009) further discusses studies by Myrna Simpson in a report â€Å"Nature Geoscience† November 2nd 2008 that outlines the anticipated effects of global warming in causing unpredictable patterns of carbon circulation in the environment. A study by the team showed increased microorganisms decomposition activity in warmer conditions that result in high release of CO2 into the atmosphere. Frazer (2009) highlights concerns by Howard Epstein an associate environmentalist on drawing conclusions based on the study. Epstein also questioned sustainability of the findings. Simpson (2008) concludes by pointing out the increased CO2 levels with increased degradation. Frazer recommends more study on soil with a keen interests on the effects of the molecular levels on the