Costs, revenue and breaking even
INTRODUCTION
In this part of the coursework I will be looking at costs, revenue
and breaking even. To do this we will have to work out our fixed
costs, variable costs, expected total revenue, the amount of cars
needed to break even and whether we make a profit or loss.
A Business Plan
Material and Equipment
Fixed costs
All of these materials and supplies will be bought from a local D.I.Y
shop.
* 4 sponges incl. 1 revolving sponge: - £32
* 4 buckets: - £10
* 4 scrubbing brushes for wheels: - £4
* Advertising Leaflets: - £5
* 4 chamois leather: - £12
Total fixed costs: - £63
Variable costs
The washing up liquid can be bought from any local shop, but the water
will be supplied from each of us from our homes although we wont be
actually paying for the water it is included for business purposes.
* Washing up liquid (10 cars per bottle): - £2.50
* Water: - £0.20 (per car)
Total Variable Costs: - £0.45 (per car)
Breakeven
This is a table to show a break-even analysis for a high price of
£4.00 per car.
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No. f. Costs v. Costs t. Costs Revenue Profit/ Loss
Of cars. (£) (£) (£) (£) (£)
0 £63 0 £63 0 ...
Table C projects the break even analysis in both units and dollars as a basis for further projections. As seen in Table C substantially larger sales are required to break even.
There are two solutions that provide the optimal profit given the current constraints under which JP Molasses operates. Under these conditions, the optimal profit is $63,571. This profit margin is achieved in both cases with revenue of $942,354 and cost of $412,333 for material purchased and $466,450 for fixed and variable costs in processing, for total cost of $878,783.
That will also apply to Ex-ante analysis. The center will not be able to implement strategies and ideas for future movements in price or the future impact of a newly implemented policy. For example, if Bayview Surgery Center perform higher number of surgeries on the following year. The revenue generated from overcharging the insurance companies will also increase the profit. As a result, it will be hard to evaluate the implemented strategies since we won’t be able to interpret the revenue increase accurately.
In order to critically assess the approach of the courts in allowing damages for pure economic loss in cases of negligence. One must first outline what pure economic loss is and what it consists off. Pure economic loss can be defined as financial loss or damage to one party caused by another party due to their negligence however the negligent act that is carried out is ‘purely’ economic and has no relation to any physical damage caused to any person or property. Numerous cases illustrate pure economic loss and losses that are deemed to be ‘purely economic’ are demonstrated under the Accidents Act 1976.
Financial reporting is a basic requirement for companies worldwide. Financial reports offer investors a generalized overview of the company’s financial position. This includes the company’s investment decisions and financial performance. However, the concept of costing especially in oil drilling companies is an issue that can be hidden from potential investors. There are two fundamental costing approaches that include full-costing and successful Efforts. These two approaches form the core of discussion in this paper. Since this paper is designed for use by potential investors and creditors, full costing methods is better than the successful efforts. Wooing investors and creditors requires an intricate combination of tactics that conceal critical weaknesses in the company while elevating the company’s strength. Nonetheless, concealing a company’s weaknesses must be within the established rule of law especially IFRS (International Financial Reporting Standards) or GAAP (Generally Accepted Accounting Practice).
The relationship between job satisfaction, motivation, and efficiency or productivity is very important in the business industry as well as in personal life. Long term research has found that the single greatest predictor of longevity is work satisfaction. Work is one third to one half of a persons' lifetime, and if frustrated the mental and physical effects are very costly. Job characteristics including skill variety, task identity, and task significance lead to psychological conditions in which in turn leads to increased motivation, performance and job satisfaction. It is important to investigate this area in order to determine how much of an effect does overall job satisfaction, motivation and productivity have on each other. It is also important to research the relationship between job satisfaction because it can assist businesses in designing and manufacturing an environment to maximize productivity and efficiency while keeping their employees satisfied. Finally, it is significant to study because it can help people better understand what job will best suit them to be motivated and satisfied while making a difference in the productivity level.
The factors considered in determining the team leadership (chief spokesperson) were that the individual had to be one that had was very good in speaking in front of a classroom. This person has to be motivated to have a strong strategy to bargain our demands for the union. The chief spokesperson must be prepared to negotiate our teams proposal to improve the union with our demands. As we start to negotiate, we would need a leader that will be able to work with the opposing team to create an agreement. As both teams start the debating process the chief spokesperson must be able to be flexible and communicate with our team on what we think about the terms at hand. The chief spokesperson that we found would be perfect for our team was Michael Mamathy. He has an outgoing personality and a strong speaker that would help our team have a successful debate. The vice chief spokesperson is Joshua Bontumasi because of the communication skills that he has when it comes to group assignments. Communication is a strong part of the role of chief spokesperson because they must be able to keep the team in the loop and make sure that we all agree to the terms of
The argument of the fetus being a creation of God is always brought up in the speeches of those who are pro-life. According to pro-lifers, the Sixth Commandment of the Bible 's Old Testament, "Thou shalt not kill" (Exodus 20:13), applies to all human beings, including unborn babies. Along with that, many pro-lifers believe that a fetus is a human being right from its conception. They claim upon fertilization, a human individual is created with a unique genetic identity that remains unchanged throughout his or her life. That this individual has a fundamental right to life, which must be protected. Many also claim that during the abortion process, the fetus feels pain. According to Kanwaljeet J. S. Anand, MBBS, DPhil, Professor of Pediatrics, Anesthesiology and Neurobiology at the University of Tennessee Health Science Center, "If the fetus is beyond 20 weeks of gestation, I would assume that there will be pain caused to the fetus. And I believe it will be severe and excruciating pain." However, yet again, none of these claims are correct. Although many religious groups oppose abortion, the United Methodist Church, the Presbyterian Church, and the Unitarian Universalist Association of Congregations are all officially pro-choice. The Bible, despite interpretations to the contrary, contains no explicit condemnation of abortion, and does not portray the killing
The Boy’s first response when the Monk asks him what causes him to suffer is that his own sin was to lo...
Wanous, J. P. & Lawlers, E. E. III, 1972, ‘Measurement and meaning of job satisfaction’, Journal of Applied Psychology, vol. 56, no. 2, pp. 95-105
Accounting is referred to as the process of recording, classifying and summarizing business transactions in terms of money, preparing financial reports as well as the interpretation of these reports. The business accounting system can be divided into three parts, financial accounting, cost accounting and management accounting. Cost accounting is an accounting information system that records, measures and reports information about costs which is used in decision making and performance evaluation. There are mainly two types of cost accounting, job order and process costing. The focus of this literature review is on process costing and its features.
To breakeven, we would have to sell 267,857 units. We plan on selling the Galaxy Note 8 at a price of $499 which is cheaper than our previous phones in the Galaxy Note line. Consumers aren’t going to purchase a new smartphone if the price is going to be in the same range of the Galaxy Note 7. So we are going to be selling the smartphone at a discount. We are using odd-even pricing for the Samsung Galaxy Note 8. It gives a sense to the consumer that they will be purchasing the Samsung Galaxy Note 8 at a bargain, instead of using the even pricing method. The cost to make the smartphone itself is around $275. There will be a picture below that will explain the details of the build of the smart phone. For the breakeven I subtracted the Total Cost from the Total Revenue. The profit for year 1 will be $1 billion dollars, I subtracted the total revenue for year 1, which was $1.06 billion and subtracted that number by the fixed cost amount of $60
Conrad and Parker (1985) described job satisfaction as a match between what individuals perceive they need and what rewards they perceive they receive from their job. Job satisfaction amongst employees is an important aspect of work and having a positive feelings about one’s work contribute to the individual experiencing greater satisfaction with their lives and this can lead to psychologically and physically healthy individuals. The main resources for organisations are employees and without them the organisations would not exist (Worthington & Britton, 2006). Therefore, it is the duty of these organisations to provide some kind of motivation for their employees so that they can put in their maximum best and attain job satisfaction to help increase productivity. Job satisfaction has become a popular research area for researchers in organisation and management studies (Luthans, 2005). The satisfaction employees attain from their job affects commitment, motivation, productivity performance, absenteeism and turnover (Fenwick, 2006). That is to say if job satisfaction is achieved it leads to positive mental health of the employee. Further research has shown that
Job satisfaction has acquired a substantial scholarly interest in the study of administration and management (Brewer & McMahan-Landers, 2014). This is due to its linkage to employee attitudes, behavior and productivity. Simply put, more satisfied employees are thought to stick around, produce more and positively impact the work environment (Abdulla, Djebarni & Mellahi, 2011). As in the case of other social scientific constructs, jon satisfaction has suffered from semantic proximity. There is little agreement as to define, conceptualize or operationalize job
employs the paperwork system, faxing proposals, contracts, revisions, agreements and lists of preferred suppliers, and, finally, invoices. The key to successful project management relies on procurement quality, acquiring the right materials in a timely manner, delivered to the right place with teamwork between the client and project management team. Using a variety of web-based and conventional methods, the agile process may be used to employ a matrix of responsibility to assign home office and site responsibilities, as well as matrixes for consent, oversight and approvals, request for quotes, the definitive project specifications, and contract award dates based on installation sequence of events. Integrating this information into a schedule, guarantees that nothing is handled twice. The next phase of procurement is solicitation planning, where the Internet can be used to implement the project (Wayne Hall, Procurement Online, PM Network, March 2001...