Butlers Chocolate Company Essay Example

Stewards Chocolate Company Paper Stewards Chocolates was built up in 1932 by Mrs Bailey Butler. In 1959 the organization was bought and has been claimed by Mr. Seamus Sorensen since that time. The Butlers Irish Chocolates brand was conceived in 1984. It was named in memory of Ms Marion Bailey Butler. Head servants Chocolates is found is Clonshaugh, Dublin 17 since 2003. It is a private assembling restricted organization. The organization is the main extravagance chocolate maker in Ireland and works from a uniquely fabricated creation office in North Dublin. The beginning stage was, when in 1932, Mrs. Bailey-Butler started to create a scope of high quality chocolates from her home in Dublins Fitzwilliam Square. The organization creates a wide scope of flavorful candy store items including chocolate arrangements, for example, truffles, fudge, toffee, chocolate bars and occasional oddities. In November 1998 the principal Butlers Chocolate Cafe opened its entryways on Wicklow St, Dublin. From that point forward, a large number of clients have visited the shops. Notwithstanding a loosening up bistro feeling, Butlers Chocolate Cafes likewise offer a top quality retail outlet. This novel mix is presently fruitful. It is a one of a kind idea that has gotten colossally well known with voyagers and local people the same. Head servants have additionally presented numerous different advancements including: We will compose a custom exposition test on Butlers Chocolate Company explicitly for you for just $16.38 $13.9/page Request now We will compose a custom exposition test on Butlers Chocolate Company explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer We will compose a custom exposition test on Butlers Chocolate Company explicitly for you FOR ONLY $16.38 $13.9/page Recruit Writer * mail request endowments * web promoting * club participation * rebate plans. These days Butlers Chocolate Cafe has a major market. In 1998 because of new site www.butlerschocolates.com went live, fourteen Butlers Chocolate Cafes have opened, remembering 2 establishments for New Zealand. Retail shops have just opened up all over Ireland. The organization has made an effective idea Butlers Chocolate Cafes of which there are currently 8. There is a lead bistro at Dublin Airport and another at Dundrum Town Center. The latest bistro opening has been in Oliver Plunkett Street in Cork last December. Stewards have likewise ventured into the U.K advertise and their chocolates are presently broadly accessible in most significant air terminals all through the UK and at Waitrose stores. From 2006 to the current day Butlers have grown new items, propelling their first natural chocolate go, dim chocolate choice, 200g Chocolate 3D square range, Butlers Chocolate Cafe frozen yogurt just as Take Home Ice Cream among others. Likewise in coordinated effort, Butlers Chocolates propelled a scope of chocolates with Irish Fashion planner, Orla Kiely.1 The Cafes are an extraordinary idea and offer the buyer a definitive chocolate treat. This treat is conveyed by method of chocolate drinks, chocolate cakes and baked goods and hot refreshments, including the honor winning Butlers Hot Chocolate. Their Hot chocolate Sauce has won a gold decoration at the London Great Taste Awards. The organization has won various honors as of late including the Bord Bia Brand Marketing Award and the Crest Retail Excellence Award for Butlers Chocolate Cafe, Henry Street. What make Butlers chocolates so extraordinary is the mix of the best chocolate with new Irish cream, spread, eggs and mystery plans. Head servants Irish Handmade Chocolates are as yet situated in Dublin and Mrs. Bailey-Butlers unique plans and strategies have been passed on to the current age. They have stood the trial of time, winning many top honors, in Ireland and abroad. The Irish Chocolate Company supplies three unmistakable markets. Initial one is a global obligation free market which was opened in Irelands primary air terminals, for example, Dublin, Shannon and Cork. Also, obligation free outlets were sourced on the ship courses among Ireland and the UK. Likewise the organization creates a scope of blessings that have been demonstrated effective in worldwide market including England, US, Russia and Dubai. It has increased a critical a dependable balance in the course of the most recent four years in the household advertise also. The organization has strived to pick stores that are coordinate with the Butlers brand, searching for eminence, eliteness and extravagance.

Monetary and fiscal policy Essay Example | Topics and Well Written Essays - 1000 words

Financial and monetary arrangement - Essay Example Through tax reductions, my firm will spare a lot of employments that already would have been lost. At the point when used, tax reductions spare numerous employments and this consequently helps in sparing the economy from making significant efforts. Since a firm like mine is certifiably not a well known choice at the time tax reductions were accessible, when the conveyance of tax breaks are reasonable for meriting organizations, history demonstrates that they wind up being the best (Shiller, 2008). I am certain on this one and I need to concede. Truly, tax breaks have impacts with the significant one being sparing occupations. In any case, the inquiry that continues going ahead my psyche is do such firms like mine get fat checks with just those in high positions getting rich while the individual with a low position in the evolved way of life keeps on battling. This makes me imagine that the administration should require some serious energy and take a gander at the financials of organi zations it intends to rescue for the motivations behind looking and seeing whether it may eliminate the excess. This doesn't appear to have an effect and impact yet as a proprietor of my firm, I know well the impacts that overwhelming tax breaks on all family products can have. This in short is rescuing an organization and the impacts start from inside where workers can even get a salary raise (Shiller, 2008). 2 In the previous hardly any years, the legislature has had a significant job in rescuing certain businesses. This is a kind of government spending. This legislature bailout influenced my firm straightforwardly since the guarantees that the codes offer are to maintain the guidelines of organizations, to act with straightforward realities, without malignance, and with sensible consideration that will experience the ill effects of any weight originating from outsiders. Business opportunity showed to the second party evaluators that are autonomous is the thing that the partnershi p loves (Shiller, 2008). Except if slowly approved, the bailout codes of morals unite the workers tight to keep up the corporation’s classification, which is imperative. Another guarantee is guaranteeing all workers have outstanding quality correspondence stream and routinely to refresh the legislature on any budgetary issue that surfaces in the business. It clings to all that it says and tails it to the letter.In the ongoing past, market analysts don't have trust in government bailouts as far as the nation’s prosperity. They have been proposing for elective estimates like the benefits giving reasons why bailouts are sufficiently bad. The following are their delineated reasons (Shiller, 2008). A bailout forgets about numerous merchandise by just tallying cash exchanges. There are many dismissed significant pieces of the economy. For instance, most family unit undertakings like thinking about the youngsters and the old, cleaning and general home upkeep, readiness of foo d and willful administrations don't get into account. During the counts, bailouts zero rates every one of these exercises accepting they do contribute anything to the economy. This by itself contributes a great deal to twisted approaches of the general population. In situations where family act gets analysis of bailouts decrease, the denigrations are unjustifiable in light of the fact that it doesn't mirror the augmentations in numerous economies of the family unit started by the demonstration (Shiller, 2008). A bailout deals with all dealings as positive. Government bailouts

Wild Parties, Vaginas and Suburbia

Wild Parties, Vaginas and Suburbia Ive recently had the opportunity to see three MIT productions I know, I know, three plays AND five elections and/or speakers, how does she do it? Last week I saw Musical Theater Guilds Wild Party, which Keri produced entirely during the Month of January/IAP. It was about a couple during the 1920s that decides to throw a party to make themselves feel better about their failed relationship, and the party turns out a lot more exciting than either of them expected. I really liked the music because it was jazzy and the show in general was pretty energetic and nice to watch. Like Ive said before, I am not a great photographer, but apparently Jax Kirtley is, and since their photos are on the Wild Party photo page, they hopefully wont mind if I use a couple. I never wrote about it, but I saw MTGs production of Cabaret early this year which I really enjoyed I believe it was their summer production. The pictures are taken from the website. Again. So anyway, back to this semester, I saw Dramashops production of Suburbia. It was about some kids in a small town that hang out in a parking lot and their various issues, usually centered around Being Stuck In This Crummy Place, Not Caring That Youre Stuck In This Crummy Place, and Trying to Escape This Crummy Place. I cant find any pictures of the play, which is really sad because one of my friends pointed out that the set was AMAZING it was incredibly detailed, and especially considering it was just a parking lot and a 7-11, I was really really impressed. Last semester I also went to a Gilbert and Sullivan Players show called Cox and Box. It was quite a small affair only three or four characters, but I really enjoyed it. If you havent caught on by now, I really love all sorts of theater. Im not talented in any way in this department, unfortunately, but thats okay, Im busy with other things and am quite alright leaving it to the experts. I feel really bad about myself whenever I dont have pictures for you guys, or I do have pictures but theyre terrible. Seriously, when did it become an unstated prerequisite that you have to be a great photographer to be a blogger? Even my normal, non-artistic pictures turn out badly. Maybe I should take a class. Anyway, moving on. The most recent show I saw (last night) was the Vagina Monologues. Id never seen it, but its pretty famous so I was excited to do so. Apparently, on February 14th, or V-Day (for Valentines Day, Violence and Victory), thousands of Vagina Monologues productions are put on around the world to raise awareness and money for campaigns and charities that work to stop violence against women. MITs production of it It was held in the Stata Center in a large auditorium with soft red chairs, I might add, since people seem to care a lot about chairs nowadays. I was surprised to see the turnout: the 318-person auditiorium was full! Look at all the people that love to hear about vaginas! This is the only picture taken by me in the whole entry. Now you know why I rely on other people for photos.After discussing the (very entertaining and hilarious and sometimes sad) play with my guy friends,I noticed that they all believed that this was wild feminist propaganda that belittled men and encouraged women to keep to themselves. Id like to take this moment, with thousands of you listening, both guys and girls, to state that this is not what the play is about. Okay, so it is empowering towards women, it makes us feel good about being female and it makes us feel more comfortable with ourselves, and though there may be a few pokes taken at the opposite gender, in general, it is not an attack on men, nor is it counter-productive towards making society equal. Its hard to explain without you actually seeing it, but it is two simple things: a feel-good production, and just as importantly, an awareness campaign. Thats not to say that each production is not unique and that some may turn it into something else which is fine just dont make assumptions about something you havent actually seen. Funnily enough, I think I ended my last entry on a similar note. I dont mean for this to be uber-serious or anything. Just something to keep in mind. Any questions about theater at MIT will probably not be answered by me, because Im just a groupie ;) Someone from ARTalk can probably help you out :)

Argumentative Essay on Unemployment - 829 Words

Thesis: â€Å"People are Unemployed because they want to be†, should not be used as a rationale for the overall level of unemployment currently being experienced. Presented by: Kevin Henry Northern Caribbean University College of Business and Hospitality Management Department of Professional and Continuing Education Presented in partial fulfillment of the course ENGL120: Freshman Composition 2 Presented to: Ozette Waugh-Fagan (Mrs.) Date: November 18, 2010 In a country characterized by job losses due to the recession, companies downsizing, and the ever changing climatic conditions we experience, how can we generalize and say that people choose not to be employed? The statement, â€Å"People are unemployed because they want to†¦show more content†¦Many people also become unemployed involuntarily because of their company downsizing the operation. The downsizing strategies of many firms for whatever reason, has led to increased unemployment levels whereby, the company can no longer afford to produce at the optimal level they once were able to, and would no longer require the services of some of their employees.Show MoreRelatedPuerto Rico the 51st State884 Words   |  4 PagesJonathan R. Martinez English 215 Draft of Argumentative Essay/ 01 July 7, 2011 Should Puerto Rico Become the 51st State? Should Puerto Rico become the union’s 51st state? Puerto Rico has been under US sovereignty since the Spanish American War in 1898, where United States gained territorial control of Puerto Rico, along with Philippines and Guam. Since this time, United States and Puerto Rico have engaged in a very peculiar relationship; and to this date, Puerto Rico remains a territoryRead MoreArgumentative Essay: Educational Reform703 Words   |  3 PagesArgumentative Essay: Educational Reform Since the early 1980s, the issue of Americas faltering public school system has become a serious concern. The crisis in K-12 education is one of the biggest challenges facing the nation. There is a great deal of evidence to show this problem. The pathetically low results of American students through international test scores is one obvious fault. Another is the failure of many students to demonstrate their knowledge of basic skills and literacy. ItRead MoreRhetorical Analysis Of College IsnT For Everyone729 Words   |  3 Pagesand involvement with open-enrollment institutions. Ethos is the sense of knowledge held by the author because he has experience. â€Å"The test-takers were college graduates from every state and from countries around the world. Fully two-thirds of the essays I scored would not have passed my freshman composition class, yet I was expected to give a score of 4 (Passing) to such writing and, apparently, the graduate schools of business accepted such students† (Reeves pg.4). Throughout the article, ReeveRead MorePsychology Research Paper744 Words   |  3 Pagesdepth about the course, students will be practicing how to apply their understanding of human thought, development, learning, social structures, and interactions to difficult social issues and environments. Drug abuse, violence in schools, racism, unemployment, and hun ger are examples of social issues in the United States. Those topics could be something that a professor talk about when referring mainly to Social Science, because you can get more detail out of it. Usually students will have to   do lotsRead MoreThe Misuse of Welfare in America1317 Words   |  6 PagesFranklin Delano Roosevelt, under whose administration gave life to the welfare system in the first place, seemed to understand the potentially harmful effects of government aid. When worst comes to worst and families stricken by the effects of unemployment and debt are on their knees, many of them end up kneeling at the feet of the government seeking aid in the form of Welfare. There is not a single thing wrong with that. In a perfect world, Welfare would be a system that the government uses to helpRead MoreArgumentative Essay : Failing The Fathers1291 Words   |  6 PagesIsaac Salinas English 1A Mr. Gejeian July 7, 2015 Argumentative essay Failing Our Fathers This nation was founded on the belief that all men and women have the chance to achieve what they set out to accomplish. Our founding fathers fought for these beliefs yet they would turn in their graves if they could see how this nation has changed for the worse. Once a land where any humble underprivileged man or woman could earn a better life through perseverance and hard work has ceased to exist. IncreasinglyRead MoreWhat Makes A Degree If You Can Not Get A Job?1494 Words   |  6 PagesArgumentative Essay What Use Is A Degree If You Cannot Get A Job? This Question can be answered in many ways. Why it is not such a great idea for people to achieve a college degree. There are advantages to this and of course disadvantages. The main focus on getting a degree in college is to gain knowledge of the area of study or of which career a person wants to achieve a job in or a life hobby. 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Brief History of the US Federal Income Tax

Money raised through income tax is used to pay for the programs, benefits, and services provided by the US government for the benefit of the people. Essential services such as national defense, food safety inspections, and federal benefit programs including Social Security and Medicare could not exist without the money raised by the federal income tax. While the federal income tax did not become permanent until 1913, taxes, in some form, have been a part of American history since our earliest days as a nation. Evolution of Income Tax in America While taxes paid by American colonists to Great Britain were one of the main reasons for the Declaration of Independence and ultimately the Revolutionary War, Americas Founding Fathers knew that our young country would need taxes for essential items such as roads and especially defense. Providing the framework for taxation, they included procedures for the enactment of tax law legislation in the Constitution. Under Article I, Section 7 of the Constitution, all bills dealing with revenue and taxation must originate in the House of Representatives. Otherwise, they follow the same legislative process as other bills. Before the Constitution   Before final ratification of the Constitution in 1788, the federal government lacked the direct power to raise revenue. Under the Articles of Confederation, money to pay the national debt was paid by the states in proportions to their wealth and at their discretion. One of the goals of the Constitutional Convention was to ensure that the federal government had the power to levy taxes. Since Ratification of the Constitution Even after the ratification of the Constitution, most federal government revenues were generated through tariffs -- taxes on imported products -- and excise taxes -- taxes on the sale or use of specific products or transactions. Excise taxes were considered regressive taxes because people with lower incomes had to pay a higher percentage of their income than did people with higher incomes. The most recognized federal excise taxes still in existence today include those added to the sales of motor fuels, tobacco, and alcohol. There are also excise taxes on activities, such as gambling, tanning or the use of highways by commercial trucks.​ As true with the modern income tax, those early taxes were far from popular among the people.But with the spirit of the American Revolution and independence still running high, some of the people took their dislike of taxes to far higher level. Between 1786 and 1799, three organized rebellions—all protesting various taxes—challenged the authority of the state and federal governments to generate needed revenue. Shays Rebellion from 1786 to 1787 was raised by a group of farmers in objection to what they considered the unfair methods used by state and local tax collectors. The Whiskey Rebellion of 1794 in western Pennsylvania came in protest to what President George Washingtons Secretary of the Treasury Alexander Hamilton wrongly considered an innocuous excise tax â€Å"upon spirits distilled within the United States, and for appropriating the same.† Finally, Fries’ Rebellion of 1799 was led by a group of Pennsylvania Dutch farmers opposed to a new federal government tax on houses, land, and slaves. While the farmers owned lots of land and houses, they were far from keen on paying taxes on slaves none of  them owned. Early Income Taxes Came and Went During the Civil War from 1861 to 1865, the government realized that tariffs and excise taxes alone could not generate enough revenue to both run the government and conduct the war against the Confederacy. In 1862, Congress established a limited income tax only on people who made more than $600 but abolished it in 1872 in favor of higher excise taxes on tobacco and alcohol. Congress re-established an income tax in 1894, only to have the Supreme Court declare it unconstitutional in 1895. 16th Amendment Forward In 1913, with the costs of  Ã‚  World War I looming, ratification of the 16th Amendment permanently established the income tax. The 16th  Amendment states: â€Å"The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.† The 16th Amendment gave Congress the power to tax the incomes of all individuals and the profits of all businesses. The income tax enables the federal government to maintain the military, construct roads and bridges, enforce the laws and federal regulations, and carry out other duties and programs.   By 1918, government revenue generated from the income tax exceeded $1 billion for the first time and topped $5 billion by 1920. The introduction of the mandatory withholding tax on employee wages in 1943 increased tax revenue to almost $45 billion by 1945. In 2010, the IRS collected nearly $1.2 trillion through income tax on individuals and another $226 billion from corporations. The Role of Congress in Taxation According to the US Treasury Department, the goal of Congress in enacting tax-related legislation is to balance the need to raise revenue, the desire to be fair to taxpayers, and the desire to influence the way taxpayers save and spend their money. Income Tax Today, Reality and Controversy As envisioned in 1913, the modern United States income tax is designed to be a â€Å"progressive† tax system, meaning that higher-income earners should pay a larger percentage of their income in taxes than lower-income earners. For example, according to the IRS, the top 1% of income earners in 2008 paid 38% of all U.S. income tax revenue collected, while earning 20% of the total income reported. On the other end of the income scale, the bottom 50% of income earners paid only 3% of all taxes collected, while earning 13% of the total reported income. Despite its progressive payment design, the modern income tax system is often accused of increasing income inequality, the uneven distribution of wealth among the American population. While Congressional Budget Office (CBO) confirms that U.S. federal tax policies substantially reduce income inequality measured after taxes, the unequal distribution of wealth—the gap between rich and poor—remains far wider than in most other developed countries. According to a 2017 report from economist Edward Woolf based on the federal Survey of Consumer Finances, the wealthiest 1% of Americans now own 40% of the country’s wealth, the highest share in the last 50 years. Woolf’s report further shows that the wealth gap between the top 1% of income earners and the bottom 90% has been widening steadily over the past few decades. Without a doubt, income inequality and the social and moral questions involved in closing the wealth gap will remain a hot topic in U.S. politics for years to come.

Cost Information and Decision Making Free Essays

string(54) " construction and fabrication of units of production\." Q 1: 10 marks For what decisions would estimated cost information be useful if you were a hospital administrator? The Director of a Cinema hall? The Marketing vice president of a bank? Cost information is the information about the different costs that are incurred in the operation of the organization or a business process. Here the cost includes all cost like material cost, labor costs, and all other overhead costs that are incurred depending on the type of business they operates. The main objectives of cost information are: 1)To ascertain the cost per unit for different products. We will write a custom essay sample on Cost Information and Decision Making or any similar topic only for you Order Now 2)To have correct analysis about the cost incurred. 3)To disclose source of wastage whether material, time or expenses. 4)To provide requisite data and serve as a guide to price fixing. 5)To reveal the source of economy. 6)To help in preparation of budget. 7)To organize internal audit system to ensure effective working. HOSPITAL ADMINISTRATOR: In hospital, different costs are involved such as on purchase of different kinds of medicines, equipments, antibiotics, etc and for employing different people where they are needed to pay salaries and wages etc. they should also incur transportation cost and other overhead costs for the operation of day to day operations. They should ascertain the cost incurred on the medicines, salaries and wages to the staff and employees, and to know total units consumed during certain period of time, how many people are employed and their effectiveness in their work. So by having cost information, it helps the hospital administrator in making decisions like: a)How much quantity of what medicine should be ordered within the specific time period? b)How many people to be employed and at what wages or salaries? c)What are needed and what not? d)Helps in ascertaining different amount of budget for different activities, materials†¦. Etc. e)It also helps in on what field the training and developments are needed. DIRECTOR OF CINEMA HALL: Being a director of a cinema hall it is very important to have cost information about the total cost and per unit cost incurred while building the hall or the hiring cost, monthly or per unit electric charges, per unit cost of furniture, screen cost, projector and any other cost involved while installing the infrastructure in the hall. So the estimated cost is useful for the Director of cinema hall to: 1. To fixed the rent for the movie screener. 2. Helps in determining the most profitable pricing. 3. Helps to control the cost involved, since the cost information helps in figuring out the unnecessary cost incurred. . To decide the further investment is worthwhile or not. 5. If he screens movie, then it helps in deciding and ascertaining per ticket cost. MARKETING VICE PRESIDENT OF BANK: Here the marketing vice president of the banks deals with the process of giving loan and receiving the deposits from the public, while doing so they have to employ people, they needs stationeries like pen, paper, books, register, desktop, ATM services, fund transfer etc. where it involves costs. So the cost information is very important for: 1. Fixing the interest rates for savings and loans. 2. Helps in budgeting for further development. 3. Helps in deciding whether a particular market should be tapped or not. 4. Whether to invest in new technology or not. 5. Whether to expand the business or not. Q2: 10 marks â€Å"Costs may be classified in a variety of ways according to their nature and the information needs of management. † Explain this statement giving examples of classification required for different purposes. Cost is the amount of resources, expressed in monetary terms, given up in exchange for some goods and resources. Cost classification is the process of grouping cost according to their common attributes. Careful classification of cost is of vital importance in order to identify the cost with cost center and cost units. With respect to their purpose the same cost is classified in different ways as follows: 1. By Nature or Elements, or analytical classification: According to this classification the cost are divided into three categories such as materials, labor, and expenses. A)Materials cost: are those cost involved for the materials that are used for the production of the particular products. It can be further classified into direct material cost and indirect material cost. Direct material costs are those cost involved for those materials which can be identified in the product and can conveniently measure and directly charge to the product. Example: timber used in manufacturing furniture. Indirect material cost are those cost involved on those materials that do not physically becomes the part of finished product and are generally inexpensive items which may or may not become a part of the finished product. Example: threads used in stitching ghos. B)Labor costs: are those cost involved for the human efforts by which raw materials are converted into finished products. It can be further classified into direct labor cost and indirect labor costs. Direct labor costs are those cost that are paid to those workers who are directly engaged in converting raw materials into finished products. Example: wages paid to the machine operators. Indirect labor costs are those cost that are paid to those people that are not directly engaged in the production operations but only assist in the production process. Example: wages for store keepers. C)Expenses: are those cost other than the material costs and labor costs. It can be also classified further as direct expenses and indirect expenses. Direct expenses are those costs other than direct material cost and direct labor cost. Example: cost of patent right. Indirect expenses are those expenses other than indirect material cost and indirect labor cost. Example: rents and rates. 2. Functional classification: Here the costs are classified according to the different aspects of basic managerial activities involved in the operation of business under taking. A)Production or manufacturing cost: this is the total cost involved in manufacture, construction and fabrication of units of production. You read "Cost Information and Decision Making" in category "Essay examples" Example: wages, raw material cost etc. B)Administrative cost: this is the cost involved in administering the process of production. Example: salaries, office rent and lighting cost etc. C)Selling and distribution cost: this is the cost involved in the process of taking finished products for sale to the final consumers. Example: carriage outward, salesman’s salary etc. So any cost involved in administration and selling and distribution are also termed as commercial cost. 3. By degree of traceability to the product: In this case the costs are classified with their degree of traceability, such as direct and indirect cost. A)Direct cost: are those costs which are incurred for and may be conveniently identified with a particular cost center or cost unit. Example: materials used and labor employed in manufacturing furniture. B)Indirect cost: are those cost which are incurred for the benefit of a number of cost centers or cost units and cannot be conveniently identified with particular cost center or cost unit. Example: rent for the building, machinery depreciation etc. 4. By changes in activity or volume: Here the costs are classified according to their behavior in relation to changes in the level of activity or volume of production. A)Fixed cost: are those cost which commonly remains fixed in total amount with increase or decrease in the volume of output or productive activity for a given period of time. With increase in production the per unit fixed cost decreases and vice versa. Fixed cost can be further classified as follows: i)Committed cost: are those cost that are the result of inevitable consequences of commitments previously made or are incurred to maintain certain facilities and cannot be quickly eliminated. Example: rent, insurance etc. ii)Policy cost: are those cost incurred for implementing some management policies as executive development, housing etc. and are often discretionary. iii)Managed cost: are those cost that are incurred to insure the operating existence of the company. Example: staff service etc. iv)Discretionary cost: are those cost which are not related to the operation but can be controlled by the management. These costs usually arises due to some policy decision and new researches etc. and can be eliminated or reduced to desirable level at the discretion of the manufacturer. )Step cost: are those cost which are constant for given level of output and then increases by a fixed amount at a higher level of output. B)Variable cost: are those cost which vary in total in direct proportion to the volume of output. These costs per unit remain relatively constant with changes in production. Example: direct labor cost, material cost etc. such cost are also known as product cost b ecause they depends on the quantum of product rather than on time. C)Semi-variable cost: are those cost which are partly fixed and partly variable. Example: telephone expenses, depreciation etc. 5. By controllability: cost are classified according to whether or not they are influenced by the action of given member of the under taking. A)Controllable costs: are those cost which can be influenced by the action of specified member of an undertaking. It is the costs which are within the control of the management. Examples: materials cost, labor cost etc. B)Uncontrollable cost: are those cost which cannot be influenced by the action of a specific member of an undertaking. It is the costs which are not within the control of the management. Example: rent of the building, managerial salaries etc. . By normality: Here the costs are classified according to whether these costs are normally incurred at a given level of output in the conditions in which that level of activity is normally attained. A)Normal cost: it is the cost which is normally incurred at a given level of output in the conditions in which that level of output is normally attained. It is the par of cost of production. B) Ab normal cost: it is the cost which is not normally incurred at a given level of output in the conditions in which that level of output is normally attained. It is not the part of cost of production and is charged to costing profit and loss account. 7. By relation with accounting period: It is the cost which is incurred in purchasing or maintaining an asset either to earn income or increasing the earning capacity. A)Capital cost: cost incurred in purchasing an assets or increasing the earning capacity of the business is called capital cost. Example: the cost of rolling machine in case of steel plant. B)Revenue cost: it is the cost involved in order to maintain the earning capacity of the concern such as cost of maintaining an assets or running a business. Example: cost of materials used in production, labor charges paid etc. 8. By time: As per the period or the time the cost is incurred the cost is classified in to historical cost and predetermined cost. A)Historical cost: are those cost which are ascertained after being incurrence. It is based on recorded facts, can be verified being supported by evidences and are objective. B)Predetermined cost: are estimated costs, since they are computed in advance of production taking consideration the previous records of cost. 9. According to planning to control: planning and control are two important functions of management. Cost accounting furnishes information to the management which is helpful in the due discharge of these two functions. A)Budgeted cost: it represent an estimate of expenditure for different phases of business operations such as manufacturing, administration, sales, research and development etc. coordinated in a well conceived framework for a period of time in future which subsequently becomes the written expression of managerial targets to be achieved. Example: raw material cost budget, labor cost budget etc. B)Standard cost: it is the cost where the budgeted costs are translated into actual operation through the instrument of standard cost. It is defined as the predetermined cost based on a technical estimate of for materials, labor and overhead for a selected period of time and for a prescribed set of working conditions. So the standard cost is determination, in advance of production of what should be the cost. 10. By association with the product: A) Product cost: are those costs which are traceable to the product and are included in inventory evaluation. It comprises direct materials, direct labor and manufacturing overheads in case of manufacturing concerns. These are used for valuation of inventory and are shown in the balance sheet till they are sold. B)Period costs: are those cost incurred on the basis of time such as rent, salaries etc. These may relate to administration and selling costs essential to keep the business running. Though these are not associated with production and are necessary to generate revenue but cannot be assigned to a product. These are charged to the period in which these are incurred and treated as expenses. 11. For managerial decision: are those cost that are classified according to their usage in the managerial decision making. A)Marginal cost: it is the total of the variable cost i. e. , prime cost plus variable overheads. It is the distinction between fixed and variable costs. Here the fixed costs are ignored and only variable costs are taken into consideration for determining the cost of products and value of work-in-progress and finished goods. B)Out of pocket cost or explicit cost: are those cost which involves payment to the outsiders and thereby gives rise to the cash expenditure as opposed to such costs as depreciation, which do not involve any cash expenditure. Such costs are relevant for price fixation during recession or when make or buy decision is to be made. C)Differential cost: are those cost that the change in cost due to change in the level of activity or pattern or method of production is known as differential cost. If the change increases the cost then it is known as incremental cost. If there is decrease in cost resulting from decrease in output, the differences is known as decremental cost. D)Sunk cost: are those cost which are irrecoverable cost and is caused by complete abandonment of a plant. It is the written down value of the abandoned plant less its salvage value. E)Imputed and notional cost: are those cost which are notional and does not involve any cash outlay. It is the value of a benefit where no actual cost is incurred. Examples: notional rent charged on the premises owned by the proprietor, interest on capital for which no interest is paid etc. F)Opportunity cost: it is the maximum possible alternative earning that might have been earned if the productive capacity or services had been put to some alternative use. G)Replacement cost: it is the cost at which there could be purchase of an asset or material identical to that which is being replaced or revalued. It is the replacement cost at the current market price. H)Avoidable and unavoidable cost: avoidable costs are those cost which can be eliminated if a particular product or department with which they are directly related, is discontinued. Unavoidable costs are those cost which will not be eliminated with the discontinuation of product or department. I)Explicit cost: are those cost which involves immediate payment of cash. They can be easily measured. Example: salaries, wages, etc. J)Implicit cost: are those costs that do not involve immediate payment of cash and are known as economic cost. Example: depreciation etc. QUESTION 3. COST SHEET FOR 2, 00,000 cases PARTICULARSUNITSCOST PER UNITTOTAL COST direct material cost2,00,00061,200,000 Direct labor cost2,00,00091,800,000 Direct expenses2,00,0004800,000 PRIME COST2,00,000193,800,000 FACTORY OVERHEAD Factory expenses2,00,0003600,000 WORK COST2,00,000224,400,000 OFFICE/ADMINISTRATIVE OVERHEAD Administrative cost2,00,00061,200,000 COST OF PRODUCTION/COST OF GOODS SOLD2,00,000285,600,000 SELLING AND DISTRIBUTION OVERHEAD Marketing cost2,00,0001200,000 COST OF SALE2,00,000295,800,000 PROFIT2,00,0005. 81,160,000 SALES2,00,00034. 86,960,000 ? COST SHEET SHOWING COST INVOLVED FOR 5,000cases PARTICULARSUNITSCOST PER UNITTOTAL COST direct material cost5,000630,000 Direct labor cost5,000945,000 Direct expenses5,000420,000 PRIME COST5,0001995,000 FACTORY OVERHEAD Factory expenses5,000315,000 WORK COST5,000221,10,000 OFFICE/ADMINISTRATIVE OVERHEAD Administrative cost5,000630,000 COST OF PRODUCTION/COST OF GOODS SOLD5,000281,40,000 SELLING AND DISTRIBUTION OVERHEAD Marketing cost5,00015,000 COST OF SALE5,000291,45,000 PROFIT5,0005. 829,000 SALES5,00034. 81,74,000 Here the cost involved in production of 1unit of screwdriver amounts to Nu. 29 and when we add the profit of cost plus 20percent, per unit cost sums up to Nu. 34. 8. But here the army representative ignored the price fixed by the company saying that the company bypassed the using selling channel and the army representative wants to pay only Nu. 22. 80 Per unit. So in this case I recommend that the price should be Nu. 33. (28*120%) per unit, since the company bypassed the contract of usual selling channel but they had incurred both administrative and factory overheads for the production of the screwdrivers and on the other hand both the administrative overhead and factory overhead are fixed cost that it doesn’t change with the volume of products produced. On the other hand the company had charged only the fixed factory and administrative overhead cost and they excluded all variable factory and administrative overhead cost, so the price per unit should be Nu. 33. 6 per unit. How to cite Cost Information and Decision Making, Essay examples

Human genome project Essay Paper Example For Students

Human genome project Essay Paper A genome is defined as the complete collection of an organisms genetic material. The human genome is composed of about 50,000 to 100,000 genes located on 23 pairs of chromosomes in a human cell. It is said that a single human chromosome may contain more than 250 million DNA base pairs, and it is estimated that the entire human genome consists of about 3 billion base pairs. The DNA is gathered through blood samples taken from many different people. Though each person has a unique set of DNA the difference in a given pair of samples is less than 1 percent making the differences pale in The Human Genome Project is an international collaboration of scientists whos goal is to gain a basic understanding of the genetic blueprint of a human being. This information is found in each cell of the body, encoded in the DNA. The intent of this project is to identify all genes in the nucleus of a human cell, to map where those genes are on the chromosomes of the nucleus, and to determine the seqeunc ing or the order of The idea to undertake such a project was came about through a series of scientific conferences held between 1985 and 1987. The actual project ,however, did not begin until 1990 with the expansion of funding from the NIH and DOE. There are many nations involved with this project as part of an informal pact including France, Germany, Japan, the United Kingdom, and many other european nations. Also in an effort to speed up the mapping and sequencing process several private companies have been enlisted to help Today there is a lot of research being done under the umbrella of the Human Genome Project. For instince gene therapy is being developed as a very real cure for such hereditary diseases as Cystic Fibrosis and Parkinsons where somewhere in the genetic make up of the body there is a glich tht alows the nervous tissue of the brain to deteriorate at a slow but steady rate. With gene therapy we will be able to replace the tissue in the brain with correctly funtionin g tissue from an animal such as a pig. As of early 1999 the Human Genome Project was ahead of schedule. There is said to be nearly 10 percent of the genome sequenced already or about 7,600 genes have been mapped to particular chromosomes. Also, researchers have sequenced the complete genomes of several other organisms such as E. Coli . This should help scientists to find parallels between our genes and the genes of other organisms. When completed this project will reap great rewards for the time and effort put in. Biologists will be able to look at detailed DNA information that will help in understanding the structure, organization, and function of DNA in chromosomes. Genome maps of other creatures will provide a way for scientists to learn more about more complex biological systems such as our own. In other words this information will revolutionize the future biological studies. There are however some controversial issues raised by the findings of this study. One worry is that soon we will be able to clone humans for body parts in order to save lives. On the surface this seems like a good idea however if put in the wrong hands this information could be used to make clones of armies for unstable countries or it could be used to clone those people who had bad influences on history such as hitler. Besides this issue there is a religious question that is raised. Should we as humans be able to play god and create life or should we let sleeping dogs lie and leave this project alone. Though there seems to be many scary implications to the continuation of this project there is little After doing the research for this project and learning about the implications of this project I feel that we should continue in good faith and hope that the technology is never used for non-medicinal purposes. My grandmother suffers from parkinsons disease and there is nothing I would l ike more than to see a cure developed through gene therepy for her disease and others like it. In my opinion this project should continue full steaam Bibliography: