INTRODUCTION
Pelican Instruments Inc., an electric meters (EM) and electronic instruments (EI) manufacturer, has experienced above budgeted profits in 2007. Mr. Park, the company’s president is seeking to analyze, which department and which division is outperforming the others. For the purposes of this analysis, we find that using variance analysis is the most relevant method in order to guide Mr. Park to his purpose.
QUESTION 1
Prepare the report that you feel Amy Schulz should present to Mr. Park.
This information is to aid Mr. Park in reaching conclusions about the relative contributions of each department.
Actual Budget Variance Contribution
Sales 17,061.00 16,872.00 189.00 30%
Variable Cost of Sales 6,335.00 5,796.00 539.00 87%
Contribution 10,726.00 11,076.00 (350.00)
Fixed Overhead 3,530.00 3,872.00 (342.00) -55%
Gross Profit 7,196.00 7,204.00 (8) Marketing
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Although the reduction in selling price by $10 resulted in over a $1.4 million loss, he will leverage on the fact that thanks to his lower price, more units were sold. This in turn means that the product increased its market penetration from 10% budgeted to 16% actual due to his price reduction strategy. This resulted in just under $2.6 million gain due to market share alone. He can also validate his lower price by gaining almost $700K due to volume increase. His low price strategy is therefore beneficial to his unit, and therefore he deserves the share.
Marketing Manager
The EM Marketing Manager may claim that he has increased market share from 10% to 16%, and thus his department is responsible for at least a chunk of the $2.6 million in profit gain. He may also argue that his department successfully partook in the profit gain yet still managed to cut departmental costs by $416K.
Manufacturing
Livi’s Arms and Accessories has everything a hunter could ever need. Livi’s offers a variety of weapons for bow and gun season, and even recreational weapons just for fun. Livi’s also offers a variety of apparel for hunters: Overalls, thermal clothes, work boots, and other equipment necessary for hunting. The primary costumers that are attracted to the store are hunters, or people in need of weapons or work apparel. The majority of the customers will be over the age of eighteen, and will derive from areas of forest, rivers, lakes, mountains, and rural areas.
Appellant Jewell entered the United States driving a car that had 110 pounds of marijuana concealed in a secret compartment. Appellant testified that he did not know the marijuana was present. Appellant made an agreement (with a man who tried to sell marijuana to the Appellant) to drive the car from Mexico to the US. He thought there was probably something illegal in the vehicle, and made a cursory inspection of the car prior to driving it. After arrest he stated that he didn 't find anything during the inspection, and, therefore he assumed that customs wouldn 't find anything either.
In this assignment I will examine ways through marketing to help bring revenues while meeting the customers wants and needs to better the business. The company has interviews and hired a marketing research company to conduct a study using raw data to determine two descriptive statistics concerning the oil changing business. The goal is to gain customer loyalty and find ways to attract new customers. Just like any business, they have to do some research on current marketing companies and choose one to help with the oil changing marketing research. By consulting with a marketing research company, one way for the oil company to make better decisions is with descriptive statistics.
Reference to the question of the rate increase of Labor, in view of the obligation of Northrop Grumman to ensure that services rendered on behalf of the U.S. Government are priced reasonably, it is not possible to increase the Director of Events & Program Manager beyond 39% & 38%. These offered increases are significantly more than what is normally permissible, 10-12% range, for essentially continued work. However, due to its unique nature, the new location of Lebanon, the reasoning provided by Mr. Proctor, and in pursuit of goodwill & partnership, the latter two rate escalations can be justified to the U.S. Government.
The last product that this company produces are the flow controllers. Flow controllers are products that are very customizable but are not as competitive on the market demanding higher prices. The planned gross margin for the flow controllers was 35% with an actual margin of 41.%. There was a significant increase without the loss of any business. The Wilkerson company have a quality leadership team; however, there are some things that needs to be changed for the company to succeed and prepare for potential price
If I had been on the jury of this case against Pete Anderson I would have handed the jury the verdict that Pete Anderson was in fact guilty. I think that Pete Anderson illegally took archeological artifacts from public land. I think the fact that the location of the cronquistii coincides with the location of the looted Anasazi site, is an indication that Pete Anderson did in fact take the plants from this land area. The three types of daisy’s in the area were confertifolia, tortifolia, cronquistii. Regarding the morphology of these daisies, they each were able to be identified by the size of the “compositase” protein.
Dennis Lynn Radar is an American serial killer who murdered ten people in Sedgwick County, between 1974 and 1991. He is known as the BTK Killer. ” BTK” stand for “Bind, Torture, and Kill which was his infamous signature. Dennis Radar sent letters describing the details of the killings to police and the local news outlets during the time period in which the murders took place. Radar brutally tortured killed four members of the Otero family.
Edmonds, T. P., Tsay, B., & Olds, P. R. (2011). Fundamental managerial accounting concepts (6th ed.). New York, NY: McGraw-Hill
Management can be defined as getting the maximum efficiency and effectiveness out of a set of activities. A manager carries out this process. My chosen company for this project is Microsoft.
INDIVIDUAL ASSIGNMENT TRANSNET – MANAGEMENT ADVANCEMENT PROGRAMME (MAP) 2015 Module: Principles in Marketing Date of submission: 06 March 2015 TABLE OF CONTENT Page 1. COMPANY OVERVIEW 3 2.
1.0. INTRODUCTION Every organization strives to benefit from creating value for its customers, in the most effective way, for the purpose of attaining competitive advantage in the business environment in which they operate. Philip Kotler(2015) defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit”. According to Hollensen (2003), a strategy is a fundamental pattern of present and planned objectives…”
Operation decisions are influenced by marketing strategies while marketing strategies are affected by the outcomes of other KBF’s. Marketing is largely concerned with strategies to ensure the sale of product which include influencing consumers to buy product by altering, design, pricing, the image of the product in the market, promotion and the quantity produced. These can all be restricted by other KBF’s. Pricing strategies, for example, can’t be set lower than the costs of making the products (reaching break even point). Every key business function has affects on marketing and physical limits on the amount that can be produced and the sorts of marketing strategies that can be implemented.
Nonetheless, competitors of Wilkerson overlooked the opportunity to make profit for themselves in flow controllers, due to the fact that Wilkerson has increased the product price by 10% without losing any business. President of the Wilkerson Company was discussing the business’s operating results with his financial controller and manufacturing manager. Reason for this meeting was because; competitors were now reducing the price of their pumps, posing a threat to Wilkerson’s major product line. Since pumps where a commodity product for Wilkerson, they had no other choice but to match the competitors price in order to maintain volume. Unfortunately, Wilkerson’s price cuts led to a decline in their company profits, especially in the pump line.
Based on this case the cost driver is to properly distribute the direct cost among the different divisions. Dr. Julian would like to control her departments costs by having them distributed fairly among the divisions without affecting the hospital’s reimbursement/revenue. Carroll University Hospital is currently using the standard costing unit, which is based on the cost of bed/day for inpatients. Currently the present cost accounting system that is being used at CUH takes the total direct cost of the departments, then allocates the indirect costs and distributes it among the departments evenly regardless of the actual resources being used in those departments, and without considering that there may be some patients in these divisions that may require more resources than others, this method does not seem to recognize the different activities,
Moreover, while planning and executing personnel budgeting, wages, bonuses, commissions and incentives apart from the employer-paid costs are deliberated by financial committee and managers to devise sound and comprehensive budgeting