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- Тип файла:ppt / pptx (powerpoint)
- Всего слайдов:47 слайдов
- Для класса:1,2,3,4,5,6,7,8,9,10,11
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Слайды и текст к этой презентации:
№3 слайд
![Introduction cont. One of the](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img2.jpg)
Содержание слайда: Introduction (cont.)
One of the important parts of economic decision is identification of costs
Several cost situations occur frequently
People have developed terms to describe these
You need to know these terms to
Understand what others are saying to you
Be able to persuade others that you know what you’re doing and therefore should be listened to
№5 слайд
![What Inputs Do They Use?](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img4.jpg)
Содержание слайда: What Inputs Do They Use?
People’s services (labor)
Materials and supplies
Raw materials used to make their final products
Indirect materials (lubrication oil, etc.)
Electric power and other energy inputs
Capital (money), which is used to pay for:
Land and buildings
Producer goods (e.g., tools, equipment)
Taxes
№8 слайд
![Overhead indirect costs Costs](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img7.jpg)
Содержание слайда: Overhead (indirect) costs
Costs that cannot be traced directly to a particular product/service, because they help support multiple products or services
Examples:
Depreciation, taxes, insurance, maintenance; electricity; general repairs; common tools
Supervisors, engineers, and other administrative/clerical personnel
Can also include materials and labor for inspection, testing, etc.
№9 слайд
![Standard Costs Representative](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img8.jpg)
Содержание слайда: Standard Costs
Representative costs per unit of output established before the good or service is produced or delivered
They are developed from anticipated direct labor hours, materials, and overhead categories
Play an important role in cost control and other management functions
Comparing the actual cost with the standard cost
Estimating future manufacturing costs
Preparing bids on products or services requested by customers
№12 слайд
![Fixed Costs Costs that remain](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img11.jpg)
Содержание слайда: Fixed Costs
Costs that remain constant:
Don’t vary with level of production
Examples:
Depreciation, maintenance, taxes, insurance, lease rentals, interest, sales programs, administrative expenses, research, heat, light, janitorial (doorkeeper) services
Fixed costs are only relatively fixed, they may change when:
Large changes in usage of resources occur
When plant expansion or shutdown is involved
№14 слайд
![Average cost This is simply](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img13.jpg)
Содержание слайда: Average cost
This is simply total cost divided by volume
Often called “unit cost”
Example 1: cost is $250 N, where N is number of units of product made
Here cost is purely variable (no fixed cost)
Average cost is (250 N)/N = $250
Example 2: cost is $6000 + $100 N
Average cost is $100 + 6000/N (decreases with larger N; economy of scale)
№15 слайд
![Marginal Incremental cost](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img14.jpg)
Содержание слайда: Marginal (Incremental) cost
This is the cost change for making one more or one fewer of the product
For Example 2 (cost = $6000 + 100 N):
N = 100: cost is $16,000
N = 101: cost is $16,100
Here marginal cost is $100, but average cost (at N = 100) is $160
So average and marginal cost may differ!
№16 слайд
![Marginal incremental cost an](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img15.jpg)
Содержание слайда: Marginal (incremental cost):
an example
Let’s say:
Fixed cost is $50, variable cost is $1 per unit
(Cost equation = $50 + $1 N)
If we make 10 units:
Total cost is $60
Average cost is total cost/number of units:
$60/10=$6 per unit
Marginal cost is the extra cost (additional cost) if we increase our production by 1 unit: $1 per unit
№17 слайд
![Marginal incremental cost](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img16.jpg)
Содержание слайда: Marginal (incremental cost)
Marginal cost:
It is the correct value to look at in deciding whether to increase production or not
We need to compare marginal costs to marginal benefits
In our example, marginal cost<<average cost
High fixed cost creates economies of scale
Marginal cost can also be > average cost
№20 слайд
![Recurring and Nonrecurring](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img19.jpg)
Содержание слайда: Recurring and Nonrecurring Costs
Recurring are the costs that are repetitive
All variable costs are recurring, but not all recurring costs have to be variable
A fixed cost can be recurring cost, e.g. Office space rental for architectural and engineering service
An example of a nonrecurring cost can be the cost of constructing a plant or purchasing a piece of land
№22 слайд
![Sunk Costs Sunk costs are](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img21.jpg)
Содержание слайда: Sunk Costs
Sunk costs are costs that can’t be recovered
Not the same as past costs
Sunk costs are generally irrelevant to decision
Example:
If a firm sinks $1 million on an enterprise software installation, that cost is "sunk" because it was a one-time thing and cannot be recovered once expended.
Room painting
№26 слайд
![Engineering Method Depends](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img25.jpg)
Содержание слайда: Engineering Method
Depends upon the knowledge of physical relationships (labor-hours, kw of energy, pounds of material)
Conjecture about the future is made on the basis of the knowledge on the capacity of equipment, capabilities of people…
Useful when historical data is unavailable
№38 слайд
![Cost driven design](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img37.jpg)
Содержание слайда: Cost driven design optimization
Engineers must maintain a life-cycle (“cradle to
grave”) design perspective as they design products and services
Ensures engineers consider:
Initial investment costs
Operation and maintenance expenses
Other annual expenses in later years
Environmental and social consequences over design life
№39 слайд
![Cost-driven Design](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img38.jpg)
Содержание слайда: Cost-driven Design Optimization Problem Tasks
Determine optimal value for a certain alternative’s design variable
Example: what velocity of an aircraft minimizes the total annual cost of owning and operating the aircraft
Select the best alternative, each with its own unique value for the design variable
Example: what insulation thickness is best for a home in Gyumri
№40 слайд
![Cost-driven Design](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img39.jpg)
Содержание слайда: Cost-driven Design Optimization Problem Cost Types
Fixed cost(s)
Cost(s) that vary directly with the design variable
Cost(s) that vary indirectly with the design variable
Simplified Format of Cost Model With One Design Variable
Cost = aX + (b / X) + k
a - is a parameter that represents directly varying cost(s)
b - is a parameter that represents indirectly varying cost(s)
k - is a parameter that represents the faced cost(s)
X - represents the design variable in question
(In a particular problem, the parameters a, b and k may actually represent the sum of a group of costs in that category, and the design variable may be raised to some power for either directly or indirectly varying costs.)
№41 слайд
![General Approach for](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img40.jpg)
Содержание слайда: General Approach for Optimizing a Design With Respect to Cost
Identify primary cost-driving design variable
Write an expression for the cost model in terms of the design variable
Set first derivative of cost model with respect to continuous design variable equal to 0. (For discrete design variables, compute cost model for each discrete value over selected range).
Solve equation in step 3 for optimum value of continuous design variables
For continuous design variables, use the second derivative of the cost model with respect to the design variable to determine whether optimum corresponds to global maximum or minimum.
№42 слайд
![Present Economy Studies When](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img41.jpg)
Содержание слайда: Present Economy Studies
When alternatives for accomplishing a task are compared for one year or less (I.e., influence of time on money is irrelevant)
Rules for Selecting Preferred Alternative
Rule 1 – When revenues and other economic benefits are present and vary among alternatives, choose alternative that maximizes overall profitability based on the number of defect-free units of output
Rule 2 – When revenues and economic benefits are not present or are constant among alternatives, consider only costs and select alternative that minimizes total cost per defect-free output
№43 слайд
![Present Economy Studies Total](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img42.jpg)
Содержание слайда: Present Economy Studies
Total Cost in Material Selection
In many cases, selection of among materials cannot be based solely on costs of materials. Frequently, change in materials affect design, processing, and shipping costs.
Alternative Machine Speeds
Machines can frequently be operated at different speeds, resulting in different rates of product output. However, this usually results in different frequencies of machine downtime. Such situations lead to present economy studies to determine preferred operating speed.
№44 слайд
![Present Economy Studies Make](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img43.jpg)
Содержание слайда: Present Economy Studies
Make Versus Purchase (Outsourcing) Studies
A company may choose to produce an item in house, rather than purchase from a supplier at a price lower than production costs if:
direct, indirect or overhead costs are incurred regardless of whether the item is purchased from an outside supplier, and
The incremental cost of producing the item in the short run is less than the supplier’s price.
The relevant short-run costs of the make versus purchase decisions are the incremental costs incurred and the opportunity costs of resources
№45 слайд
![Present Economy Studies Make](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img44.jpg)
Содержание слайда: Present Economy Studies
Make Versus Purchase (Outsourcing) Studies
Opportunity costs may become significant when in-house manufacture of an item causes other production opportunities to be foregone (E.G., insufficient capacity)
In the long run, capital investments in additional manufacturing plant and capacity are often feasible alternatives to outsourcing.
№46 слайд
![Example . Best Operating](/documents_6/5bc806e230fb1dd50023626aaa0d66d5/img45.jpg)
Содержание слайда: Example 2.13 – Best Operating Speed
Lumber put through the planer increases in value by $0.10 per board foot. When the planer is operated at a cutting speed of 5,000 feet per minute, the blades have to be sharpened after 2 hours of operation, and the lumber can be planed at the rate of 1,000 board-feet per hour. When the machine is operated at 6,000 feet per minute, the blades have to be sharpened after 1-1/2 hours of operation, and the rate of planing is 1,200 board-feet per hour. Each time blades are changed, the machine has to be shut down for 15 minutes. The blades, unsharpened, cost $50 per set and can be sharpened 10 times before having to be discarded. Sharpening costs $10 per occurrence. The crew that operates the planer changes and resets the blades.
At what speed should the planer be operated?
At what speed should it be operated when only one job requiring 6,000 board-feet of planing is considered.
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