But Midwest’s previous cost system ignored it and assumed number 2 order as a profitable order like the other ordinary ones.
These kinds of careless accounting method will lead company into the bigger loss in the near future,because company will not be able to recognize the serious problem in cost analysis. For company’s sake, it should revise its costing system to more accurate one.
CASE 4
Part 1:
A. Describe the cost flow assumptions used in average cost, FIFO and LIFO methods of inventory valuation.
-The average cost method assumes cost of goods sold and ending inventory consist of a mixture of all the goods available for sale. The average unit cost applied to goods sold or to ending inventory is not simply an average of the various unit costs of purchases during the pe
Luciano Benetton
1935 Born in Treviso, Italy
1944 After the death of his father
1955 Started the business with his younger sister
to attain a target income from operations of €300 million?
target profit
€300million - €217million = €83 million
Total Sales – Break Even Sales
Margin of safety in 2003
1859million-1241million = 618million
Margin of safety in
method of traditional realists. Although Waltz accepts the realist paradigm of state as a rational actor, he focuses more on system of structure.
According to Waltz (1979), political structure is different between domestic and international. In terms of domestic structure, first, it is organized or ordered in hierarchic, and units are ordered through a central authority. Secondly, by the differ
Differences in mental model is based on several different causes:
Variations in the situation that trigger the mental model
Mental models change over time
Different people show different mental models for the same situation
Differences in performance when interacting with the system
Examples of Empirical Results on Mental Model Measurement
Mental Models of Operation System
Difference