Movie Review Requiem for a Dream - Free Essay Example

Sample details Pages: 3 Words: 970 Downloads: 1 Date added: 2017/09/12 Category Advertising Essay Did you like this example? Requiem for a Dream Release Date: October 27, 2000 Darren Afronsky Reichel Rating * * * * By Brittany Reichel April 22, 2010 The traumatic dreams of four interconnected people are crushed when a drug addiction gets out of control. Every character seems to have an excuse for their addiction whether it be to lose weight, to start a business, to ‘make it big’, or just to make something of themselves. But with every high, there is always a crash and these four characters risk their lives for an ultimate high with an inevitable and life ending crash. What is an addiction? A text book definition would remind us that it is not only physical but emotional and a habitual sacrament of one’s own body. Many people suffer day to day from addictions and they all end the same way. In the beginning there is a definite line of control and it shows the beginning and end of what is ‘fun’ and what is ‘dangerous’. But this dependant boundary slowly starts to fade away as the system becomes immune to the increasing dosages. In short the original excuse for the addiction haunts the addict with disturbing images. Don’t waste time! Our writers will create an original "Movie Review Requiem for a Dream" essay for you Create order The conclusion I draw from the movie Requiem for a dream are as follows; People who are weak enough to not have the feeling of success replace their loneliness and try to cope with a self medicating drug. Requiem means a song or hymn of mourning for the dead. This gives the impression that anyone who has an â€Å"unachievable† dream is in a sense already dead inside, and this sonnet is their ballad of despair. I would like to remind the reader that the song plays through the entire movie and it not only foreshadows but reminds us that this song is in fact a song for the dead by the mood that the tones and notes set for each movie scene. The movie tells a story from an omniscient point of view. The movie begins with the mother and son. He tries to take a television set from her to pawn it off for drugs. The mother, Sara Goldfarb, (Ellyn Burstyn) played in Exorcist is an old housewife who sits in her overused recliner and wears nothing but drabby house dresses all day. Her existing addiction at this time is coffee, sugar, and television. The son, Harry, (Jared Leto) is a short tempered young adult with sunken eyes and a shady sense of morals. Currently Harry is dating a girl named Marian, (Jennifer Connolley) and his sidekick friend Tyrone (Marlon Wayans) played in White Chicks, is the cocky friend who becomes Harry’s direct affiliation to drugs also has an addiction to weed and heroine. Sara, the housewife, sticks to daily activities with a posy of old ladies in front of her building where they desperately try to regain a sense of youth by sunbathing in lawn chairs. She is currently picking up on an addiction to an infomercial for life coaching skills. She receives a call from a man and that says â€Å"You’re a winner! You’re going to be on television! † After receiving this call she recaps her life and decides that the highlight of it was when her only child graduated from high school and she wore a red dress with gold shoes to his graduation ceremony. Eventually she gets diet pills to lose weight and she begins to obsess over this symbolic red dress. As she begins to lose weight and notice an empty echo in her fridge she also begins to lose her sanity. Eventually she builds up a tolerance to the drugs and she starts double dosing and popping them more and more frequently when the doctor won’t give her a higher dose. Her son on the other hand begins to fixate himself on the ideal dream of ‘the big score’. Tyrone, who is a lot like Jamie in Long Days Journey into Night, spots early on that Harry is losing it big time and you can tell by his reactions in the scenes that he is already foreshadowing the crash. Meanwhile they run out of money to get their fix and their last resort is Marion. Harry convinces her to sell her body to a dealer to get some more just until they can ‘get back on top’ says Harry. Darren Afronsky is amazing when it comes to seeing the world through the addict’s eyes. He represents each hit they take by a serious of noises and close ups, for instance, pupils dialating, sparking a lighter, the needle drawing the heroine out, and the rolling of the paper, the sniffing it off the table, and all of the other noises affiliated with each hit. And when they’re ‘tripping’ he shows this scene of complete peace. From an above angle that seems like they themselves aren’t really in their bodies but instead their actual view is from up above and you can see through the angles of the camera that each picture is evidential of what they really are experiencing. You can tell the distance between scenes will give you an impression of how long the drugs actually last. From the time they take effect to the time they crash it seems biologically correct time wise. But then regular veryday events seem to rush by in a flurry without a real sense of time anywhere. The most interesting part of Darren Afronsky’s directing was how he used a split screen innuendo to cast an appealing view of the characters. When they finally reach the ultimate high, Sara is hallucinating and seeing images of her unrealistic self with a game show host. Her son was hallucinating about his girlfriend Marian in the same red dress h is mother wore to his graduation. I instantly detected some Freudian messages here.

Behavior and Relationship Observation - 847 Words

Behavior observation Conformity is a general concept that refers to changing ones behavior which is caused by another person or group.in other words it results to someone acting in some way due to the influence they got from others (Kenrick, Neuberg, Cialdini, 2007). For the purpose of this paper, I have made the assumption that the people I am observing are a couple taking into account the preformed ideas of how couples do behave. I have also made an assumption that that they are in a love relationship and they are married. For people who are in a relationship they have to try and understand each other. They also have to conform their behaviors according to their partners so that they can understand each other more in the relationship. Conformity is not an easy concept especially when one is required to make major behavior changes in their lives. Therefore there are pre-conformity behaviors that could be observed in the man before he fully demonstrated a conforming behavior. The pre-conforming behavior was such as constantly forgetting what he was expected to do since this was a relatively new thing for him. There were instances where he totally forgot or did what was expected of him halfway without completion. There are several types of conformities which include; normative conformity. Normative conformity involves an individual changing their behavior so that they can fit well into a particular group (Kenrick, Neuberg, Cialdini, 2007). 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International Economics and Australia Free Essays

A PESTEL analysis of the Australian market Australia is the 15th richest nation in per capita terms and is the 6th oldest continuously functioning democracy in the world. Australia has the 14th biggest overall economy in the world and the 9th biggest economy. Australia’s economy is open and innovative. We will write a custom essay sample on International: Economics and Australia or any similar topic only for you Order Now Over the past decade solid productivity gains have been accompanied by low inflation and interest rates. Also Australia has low barrieirs to trade and investment . Australia foreign and trade policies promote the security and long term prosperity of Australia in a global context. Australia’s economy is highly susceptible to the impact of climate change. In 2008 the Australian Government committed to create an organization called â€Å"Infrastructure Australia† to provide a new national approach to planning ,implementing and funding the nations future. Being a safe, stable and prosperous country Australia is an increasingly attractive hub for international and regional business and business operations. According to recent survey it can be said that Australia’s economic success in the last century was based on its abundant agricultural, mineral and fuels resources. Numerous factors have contributed to this development Informations and communications technology is a key driver in economic growth,other factors such as advances in travel,exchanging of ideas,broader accces to standards to educations etc have also contributed to this success. Australia’s ICT market is worth an estimated $89 billion with more almost 25,000 companies employing 236000 IT specialists Political environment In Australia, it is a liberal-capitalistic democracy. The state keeps interfering substantially in the economy through the use of various roles; for instance the parliament might decide to set up importation taxes aimed to protect the national economy, or it might create environmental protection laws aimed to protect the natural heritage of the country. This affects international business because when taxes keep varying and increasing especially there will be an impact on the economy which in turn will affect the exchange rates and currency rate. Also according to the present situation as mentioned in The Australian Financial Review 2010: there is  fear that the hung parliament will negatively affect the economy. Australia’s rate of economic growth slowed down between July and September as the high value of the Australian dollar dug into export earnings. The country’s gross domestic product rose just 0. 2% during the third quarter period, down from growth of 1. 1% between April and June. Analysts deduced that Australian consumers were also hit by higher interest rates. However, the Australian economy is set to continue to grow, led by demand from China for its raw materials. According to Michael Blythe, chief economist at the Commonwealth Bank, the latest economic growth figure was a â€Å"disappointing outcome . Since Australia is helped by its vast exports of iron ore and other raw materials, it has avoided recession for 19 years. One of the country’s largest iron ore producers is the Anglo-Australian group Rio Tinto, which is increasing production, has announced $7. 2bn in new investment in the region since July 2010. According to surveys Australia’s economy continued to gather pace in March as world demand for commodities boosted the nation’s coffers. However due to recent uncertainty from the European debt crisis could lower expectations of economic growth in the future. Economic Environment Australia is an island continent in the Southern Hemisphere, lying between Antarctica and Asia. It is surrounded by the Indian Ocean to the west; the Timor, Arafura, and Coral Seas to the north; the Pacific Ocean to the east; and the Tasman Sea and Southern Ocean to the south. In other words its placement is a added advantage to business because when it comes to export and import, Australia is like a commuting place. Much of the continent is low, flat, and dry. The area of the continent is 2. 97 million square miles and the population is roughly 20 million Due to the harsh physical environment has encouraged people to remain close to the fertile coastal areas as a result urban and rural dwellers articulate different economic and social interests. Personal home ownership is a common goal, and the nation has one of the highest home ownership rates in the world. Therefore architecture and real estate business has a good scope in Australia. Australians are among the world leaders in fast-food consumption, fast food outlets are a plenty, beverages snacks and fast food companies have a recognized name in Australia and other countries because Australian chefs are known worldwide for their â€Å"fusion cuisine† Australia is a major regional financial centre and a vital cog in the global financial system. The Australian Stock exchange and the Sydney Futures exchange merged in 2006 to form the world’s 8th largest listed exchange. Australia has one of the highest percentages of shareholders in the world. Share market is one of the main aspects in international business and since the amount of people who invest in shares in Australia is high international business is also promoted really well. Trade has always been a vital component in Australia’s economic prosperity. The hallmarks of its trading success have been strong infrastructure and stable institutions. A skilled workforce, rich resources and a good agricultural base are added benefits. The goods and services tax (GST) is levied at 10 percent and applies to almost all goods and services transactions across the economy. Besides that there is only a flat corporate tax of 30 percent. When there was little scope for industrial or commercial enterprises, the pastoral industry became a key force in economic development. In particular, growth in the wool advanced rest of the economy. Gold surpassed wool as the nation’s major export in the 1850s and 1860s, resulting in a rapid expansion of banking and commerce. A move toward privatization at the state and commonwealth levels of government has been gaining momentum since the early 1980s. Some states, such as Victoria, have embraced this move much more than others have. Australia is highly integrated into the global capitalist economy. The economy is strong in the service sector in relation to goods-producing industries which include agriculture, forestry, fishing, mining, manufacturing, construction, and energy. It contributed around 31 percent of gross domestic product during the mid-1990s, whereas on the other hand the services industries contributed 60 percent. Goods-producing industries provided around a quarter of employment, with the rest provided by service industries. In 1996 and 1997, manufacturing was the most significant sector. In 1996 and 1997, manufacturing was the most significant sector. Another major contributor was the property and business services industry. Primary industries in mining and agriculture are of key economic importance. The development of large mines in some remote regions has been associated with the establishment of towns and increased employment. In order of economic significance, Australia’s current major trading partners include the United States, Japan, China, United Kingdom, , and New Zealand. Australia is one of the world’s largest exporters of wool, meat, and wheat. Australia is a major supplier of sugar, dairy products, fruits, cotton, and rice. The above being the export of Australia the imports are passenger motor vehicles, telecommunications equipment, and crude petroleum oils. Australia is increasingly shifting toward an information economy that relies on a high-skill base. Thus, the workers most at risk of unemployment are laborers, factory workers, and those who learn their skills on the job. Highly skilled managers, medical practitioners, teachers, computer professionals, and electricians have the lowest risk of unemployment. Social environment Australia is a nation officially committed to ethnic and racial inclusiveness. For much of the nation’s history, there has been a focus on assimilating different cultural groups into the dominant British Australian traditions. Australia is a collectivity of diverse peoples living in a relatively young society. However, the divisions within the nation continue to find expression in public life, arising from social differences in race, ethnicity, social class, and gender. Although the impact of environmental variation is highly evident in the traditional cultures of indigenous Australians, it has not been as strong a factor in immigrant cultures. The most significant lifestyle differences are affected primarily by variations in climate. Australia has six states ,Western Australia, South Australia, Victoria, Tasmania, New South Wales, Queensland, and two territories ,the Northern Territory and the Australian Capital Territory, majority of the population lives in urban areas around the coast. . The dominant language since colonization has been English, with little multi-lingualism among the majority population. Australia’s culture can be more likely said to be cosmopolitan. Factors that have shaped the national culture include the early small female population relative to that of men, which is said to have laid the foundations for a widespread ideology of mateship. The involvement of Australian and New Zealand troops in World War I has been characterized as the symbolic birth of the nation. Australia is a modern trading nation and it is a diversified and reliable supplier of high quality goods and services to over 200 countries with a sophisticated import market for products from all over the world. The main reason for all this is the due to Australia’s dynamic and efficient sea and air ports along the extensive coastline which allows massive amounts of iron ore, coal and array of other natural resources to be shipped. Technological Environment; The benefits of e-commerce to the economy in terms of reduced costs, higher quality, new products and larger markets are significant highlights in a country’s international business. Recent surveys show an increase in national output, real investment, consumption, real wages and employment. Australia is one of the world’s most connected countries, estimated revenues of business-to-business e-commerce in Australia for 2000 was over US$2. 3 billion, ranking higher than Taiwan, South Korea, Hong Kong and Singapore. Regions or regionally based businesses are more likely to succeed in the global market if they are major investors in new technology, export focused and competent in the use of IT and e-commerce. Mobile banking. Information and communications technology is a key driver of Australia’s strong economic growth and innovation. Based on this technology is most of Australia’s high budget business. Since in today’s world time factor is one of the most important factors in man’s life and time management is one of the key factors that most business magnets fail. Information technology is like a boon to all these people because it does half the work a particular individual has to do, man power is substantially balanced whereas if a man had to do each and every thing in a international business it would take ages for him to get through to all of that. For eg†¦In Australia and most European countries computerized systems are looming up in supermarkets, petrol stations, malls, banks etc. The technological background in Australia is one of its advantages when it comes to international business according to reports and business publications. Internet and e-commerce have boosted the international competitiveness of Australian businesses. Many Australian firms are now using internet technology to expand into new foreign markets, almost all of the enterprises are increasingly using e-commerce because it only requires low overheads and comparatively less initial outlay of capital but leading to a fast turnover on investment. According to surveys about 94 per cent of large businesses and 60 per cent of medium businesses in Australia had a website in 2006, while there was over 37 per cent of online purchase in all types of business. The percentage of all businesses receiving orders online in the same period was 21 per cent. In 2006–07, out of the 11. 3 million people who accessed the internet in Australia, 61 per cent used the internet to for online purchase or to order goods and services. Income for Australian business from internet increased from $24. 3 billion in 2002-03 to $56. billion in 2005-06 Legal Background Australian assistance gives priority to law enforcement, intelligence cooperation,transport security ,legal frameworks,countering terrorist financing and preventing terrorists access to nuclear materials. Australia has a sound and practical structure of financial regulations and institutions that provides certainty for business and is open to investment without undue delay. This is a ad vantage when it comes to international business because it makes investors more comfortable in relying and in turn make large investments. Even for investors and businessmen from other countries Australia’s business law is flexible and makes the procedure of opening up a business simple and easy to achieve for one and all. There is a strong, transparent governance system along with business oriented regulation and insolvency regimes. According to the World Bank a new business can be established in Australia within two days compared with an average of 20 days in most of the other countries. Need an essay? You can  buy essay help  from us today! Introduction The country analysis report on Australia provides a wide array of analytical inputs to analyze the country’s performance, and the objective is to help the reader to make business decisions and prepare for the future. The report on Australia analyzes the political, economic, social, technological, legal and environmental (PESTLE) structure of Australia. The report provides a holistic view of Australia from historical, current and future perspective. Insightful analysis on critical current and future issues is presented through detailed SCPT (strengths, challenges, prospects and threats /risks) analysis for each of the PESTLE segments. In addition, the PESTLE segments are supplemented with relevant quantitative data to support trend analysis. The PESTLE country analysis report series provides an in-depth analysis of 50 major countries. Features and Benefits – Understanding gained from the country analysis report on Australia can be used to plan business investments or market entry apart from a holistic view of the country. – Political section on Australia provides inputs about the political system, key figures in the country, and governance indicators. Economic section on Australia outlines the economic story of the country to provide a balanced assessment on core macro-economic issues. – Social section on Australia enables understanding of customer demographics through the income distribution, rural-urban segmentation and centers of affluence, healthcare and educational scenario in the country. – Technological section on Australia provides strategic inputs on information communications and technology, technological laws and policies, technological gaps, patents data and relevant laws. Legal section on Australia provides information about the legal structure, corporate laws, business set-up procedures and the tax regime. – Environmental section provides information on environmental policies in Australia and the performance in terms of important environmental indicators. Highlights PESTLE analysis of Australia identifies issues that affect the country’s performance through the prism of current strengths (strengths), current challenges (weaknesses), future prospects (opportunities) and future risks (threats). The political landscape discusses the evolution of the political scenario in Australia in different periods. The economic, social, foreign and defense policies are considered in the political landscape section. It also discusses the performance of the country as per World Bank Governance Indicators. The economic landscape describes the evolution of the economy of Australia in different periods. It also examines the country’s performance in terms of GDP growth, composition by sector (agriculture, industry and services), fiscal situation, international investment position, monetary situation, credit disbursement, banking sector and employment. The economic landscape also explains the financial system in the country, especially with regard to financial authorities/regulators. The social landscape covers the demographics, education and healthcare scenario in Australia. The social welfare policies of the government along with the country’s performance in terms of healthcare, income distribution and education are also provided. The technological landscape discusses the structure and policies in terms of Intellectual property, research development, technology agreements/pacts; and policies related to the promotion of technology in Australia. The legal landscape examines the structure of the judicial system, legislation affecting businesses, tax regulations, labor laws, trade regulations and corporate governance in Australia. The environmental landscape in Australia discusses the environmental regulations and policies of the country. The performance of the country in terms of in terms of environmental indicators and impact of environmental policies is also examined. â€Å"The Australian economy grew at a CAGR of more than 3% a year during 1991–2008, but then slumped to 1. 3% in 2009. The economy was unaffected by the global slowdown in 2001, and grew at a significant rate of 2. %. The economic growth rate did not significantly decline even when the country was hit by the worst drought in its history in 2003, as it dropped from 3. 6% in 2002 to 3. 5% in 2003. The buoyant growth was driven by sound macroeconomic policies and fiscal prudence. The growth rate increased to 3. 8% in 2007 from 3. 0% in 2006. However, the growth momentum decelerated to 2. 3% in 2008 because of the global financial slowdown, and then slowed further to 1. 3% in 2009. Following this, 2010 saw the economy rebound with growth of 3. 0%. According to Datamonitor’s forecast, the economy is expected to grow by 3. 5% in 2011. â€Å" Your key questions answered – What is the outlook in terms of political stability, policies towards businesses, external front and popularity of government in Australia? – What is the economic performance of Australia in terms of GDP growth, fiscal situation, international investment position, monetary situation, credit disbursement, and employment among other economic indicators? – What is the performance of Australia in terms of healthcare, income distribution and education? – What is the performance of Australia in technology intensive sectors like telecommunications and information technology, patents and RD expenditure trends? What is the legal structure in Australia and are the laws conducive for investment? – What is the performance of Australia in terms of environmental indicators and impact of environmental policies? ———————————————†”- How to Create a Pestle Analysis Template 15DEC The  PESTLE analysis  is the analysis of the environment as a whole in which abusiness  operates or tends to offer its trade. These are systematic factors that are beyond ones control and businesses need to chart out strategies keeping the results in view to peacefully coexist and keep on gaining revenues despite the concurrent situation. It is of utmost importance to understand in depth the meaning of  PESTLE  and how every letter of the acronym represents an important aspect of the environment your business is in. PESTLE stands for: * P for Political * E for Economic * S for Social * T for Technological * L for Legal * E for Environmental The political factors account for all the political activities that go on within a country and if any external force might tip the scales in a certain way. They analyze the political temperament and the policies that a government may put in place for some effect. For example, the fiscal policy, trade tariffs and taxes are those things that a government levies on traders and organizations and they greatly alter the revenue that is earned by those companies. The economic factors take into view the economic condition prevalent in the country and if the global economic scenarios might make it shift or not. These include the inflation rates, foreign exchange rates, interest rates etc. All these can affect the supply and demand cycle and can result in major changes of the business environment. Social factors have to do with the social mindset of the people that live in a certain country. This sums up the aspect of culture, age demographics, gender and its related stereotypes, at times this analysis has to include the religious factors (when pertaining to products or services of a different kind). Technological factors take into consideration the rate at which technology is advancing and how much integration does a company needs to have with it. Legal factors have to do with all the legislative and procedural components in an economy. Also, this takes into account certain standards that your business might have to meet in order to start production/promotion. Environmental factors have to do with geographical locations and other related environmental factors that may influence upon the nature of the trade you’re in. For example, agri-businesses hugely depend on this form of analysis. PESTLE analysis template This is a  template  that allows a company to understand what basics are required to conduct the analysis onto the environment. It combines all the representative factors in one table, and then you need to analyze based on the current market situation. Here is a comprehensive list of headings that one must look toward while carrying out the analysis on a market. . Political factors: * Trading policies * Government changes * Shareholder and their demands * Funding, * Governmental leadership * Lobbying * Foreign pressures * Conflicts in the political arena 2. Economic factors: * Disposable income * Unemployment level * Foreign exchange rates * Interest rates * Trade tariffs * Inflation rate * Foreign economic trends * General taxation issues * Taxation changes specific to product/services * Local economic situation and trends 3. Social factors: * Ethnic/religious factors * Advertising scenarios * Ethical issues * Consumer buying patterns Major world events * Buying access * Shifts in population * Demographics * Health * Consumer opinions and attitudes * Views of the media * Law changes affecting social factors * Change in Lifestyle * Brand preferences * Working attitude of people * Education * Trends * History 4. Technological factors: * Technological development * Research and development * Trends in global technological advancements * Associated technologies * Legislations in technological fields * Patents * Licensing * Access into the technological field * Consumer preferences * Consumer buying trends Intellectual property and its laws * How mature a certain technology is * Information technology * Communication 5. Legal factors: * Employment law * Consumer protection * Industry-specific regulations * Competitive regulations * Current legislation home market * Future legislation * Regulatory bodies and their processes * Environmental regulations 6. Environmental factors: * Ecological * Environmental issues * International * National * Stakeholder/ investor values * Staff attitudes * Management style * Environmental regulations * Customer values * Market value How to cite International: Economics and Australia, Essay examples

The Crucible Vs The Scarlet Letter Essay Example For Students

The Crucible Vs The Scarlet Letter Essay Two hundred years ago, the church was the center of life in many New England towns. The church provided not only religions guidance but, was a place for social gathering and a chance for neighbors to keep in touch. This is shown in depth in Boston, by Nathaniel Hawthornes, The Scarlet Letter and in Salem, by Arthur Millers, The Crucible.Both towns are perfect models of the churches affect on their communities. Both towns were settled by immigrants from England seeking religious freedom from the theocracies in Europe. In each town the church became a leading force in the local government. The church could influence the courts to impose legal penalties on crimes against the Ten Commandments. Crimes such as adultery, in The Scarlet Letter, and worshiping other gods, The Crucible, were violations of the commandments and carried significant civil penalties. The church influenced the community to keep the community together, and to prevent any kind of disunity that might challenge the chur chs institutional values. In The Scarlet Letter, Boston even held special Election Day sermons. These were then followed by a special procession given by the town for the minister whom they so loved. However, these beloved church leaders were not the perfect devout workers of God that they professed to be. Reverend Dimmesdale, was an adulterer and father of an illegitimate child. Reverend Danforth of The Crucible, was a money hungry old man who appeared to be preaching for his own greedy, personal gain. Both men, however, were allowed to get away with their sins for a while because no one dared question the people who gave them their spiritual enlightenment. These men were, after all, the same men who were responsible for the church that stood at the center of not only the town, but also the morality and values that guided the lives of the people who lived in it. It is somewhat ironic that in both novels, the persecution of women in puritan communities for crimes, which were sins against the church, took plac e in religious societies formed by those seeking relief from religious persecution. In each book, persecution of those who dared be different by breaking the communities accepted religious values, is apparent. Hester, the adulteress, and Abigail, the adulteress witch, were both persecuted for their actions.In conclusion, it is very clear that the common theocratic theme of societal values based on puritanical religious beliefs controlled the day-to-day lives of the communities in The Scarlet Letter and The Crucible. The effect that religious conformity had on the lives of the community and persecution for nonconformity can not be overlooked in these works of Hawthorne or Miller. Bibliography:Make it up

Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase Essay Example

Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase Paper The CVP analysis helps in taking more than one decisions in a firm. How would you substantiate this statement for a unit under expansion phase| | Abstract Companies commonly face major uncertainties in their product markets, particularly in the manufacturing industry where competition is often fierce and consumer tastes change rapidly. Managers need to estimate future revenues, costs, and profits to help them plan and monitor operations and to decide the mix and volumes of goods or services to produce and sell. They also use this information to evaluate profitability risk. Cost-volume-profit (CVP) analysis is the technique used to identify the levels of operating activity needed to avoid losses, achieve targeted profits, plan future operations, decide on expansion or contraction plans, monitor organizational performance and analyze operational risk as they choose an appropriate cost structure to help in the decision making process to sustain the firm. Table of Contents Introduction4 Marginal Cost Equations and CVP Analysis9 Cost Volume Profit (CVP) Relationship in Graphic Form14 Applications of Cost Volume Profit (CVP) Concepts17 CVP Analysis Illustrations Unit in Expansion Mode19 Illustration 119 Illustration 222 References28 Introduction To assist planning and decision making, management should know not only the budgeted profit, but also: * the output and sales level at which there would neither profit nor loss (break-even point) * the amount by which actual sales can fall below the budgeted sales level, without a loss being incurred (the margin of safety) In marginal costing, marginal cost varies directly with the volume of production or output. On the other hand, fixed cost remains unaltered regardless of the volume of output within the scale of production already fixed by management. We will write a custom essay sample on Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In case if cost behaviour is related to sales income, it shows cost-volume-profit relationship. In net effect, if volume is changed, variable cost varies as per the change in volume. In this case, selling price remains fixed, fixed remains fixed and then there is a change in profit. Being a manager, you constantly strive to relate these elements in order to achieve the maximum profit. Cost – Volume profit Analysis is a logical extension of Marginal costing. It is based on the same principles of classifying the operating expenses into fixed and variable. CVP analysis is generally defined as a planning tool by which managers can evaluate the effect of a change(s) in price, volume, variable cost or fixed cost on profit. Additionally, CVP analysis is the basis for understanding contribution margin pricing, related short-run decisions, target costing and transfer pricing. Apart from profit projection, the concept of Cost-Volume-Profit (CVP) is relevant to virtually all decision-making areas, particularly in the short run. The relationship among cost, revenue and profit at different levels may be expressed in graphs such as breakeven charts, profit volume graphs or in various statements forms. CVP Analysis helps managers understand the interrelationship between cost, volume, and profit in an  organization  by focusing on interactions among the following five elements:   1. Prices of products 2. Volume or level of activity 3. Per unit variable cost 4. Total fixed cost 5. Mix of product sold Earning of maximum profit is the ultimate goal of almost all business undertakings. Profit depends on a large number of factors, most important of which are the cost of manufacturing and the volume of sales. Both these factors are interdependent. Volume of sales depends upon the level of production i. e. volume of production and market forces which turns in related to costs. Management has no control over market. In order to achieve certain level of profitability, it has to exercise control and management of costs, mainly variable cost. This is because fixed cost is a non-controllable cost. In other words, it helps in locating the level of output which evenly breaks the cost and revenues used. In its broader sense, it means that system of analysis which determines profit, cost and sales value at different levels of output i. . it establishes the relationship of cost, volume and profit. CVP Analysis helps to find out the profitability of a product, department of division to have better product mix, for profit planning and to maximize the profit of a concern. The decisions can include such crucial areas as pricing policies, product mixes, market expansion or contractions, outsourcing contracts, idle plant usage, discretionary e xpenses planning and a variety of other important considerations in the planning process. Thus cost volume profit analysis furnishes the complete picture of the profit structure. When the firm is in expansion phase, Funds are provided for the major expansion of a company which has increasing sales volume and which is breaking even or which has achieved initial profitability. Funds are utilized for  further plant expansion, marketing, and working capital  or for development of an  improved product, a  new technology, or an  expanded product line. Cost-volume-profit analysis can answer a number of analytical questions. These include, for example: 1. What products to manufacture or sell? 2. What pricing policy to follow? 3. What marketing strategy to employ? 4. What type of productive facilities to acquire? Cost-volume-profit analysis can also answer many other â€Å"what if† type of questions. Cost-volume-profit analysis is one of the important techniques of cost and management accounting. Although it is simple, it is a powerful tool for planning of profits and therefore, of commercial operations. It provides an answer to â€Å"what if† theme by telling the volume required to be produced. Following are the three approaches to a CVP analysis: * Cost and revenue equations * Contribution margin * Profit graph Before going into further details on the above three approaches below is described, the broad objectives of CVP analysis and the assumptions thereof n attaining these objectives. Further the limitations of the CVP analysis are detailed, which will help determine when, where and in which situations CVP analysis can be applied effectively in the various decisions that a firm needs to make to continue functioning. Objectives of Cost-Volume-Profit Analysis 1. In order to fo recast profits accurately, it is essential to ascertain the relationship between cost and profit on one hand and volume on the other. 2. Cost-volume-profit analysis is helpful in setting up flexible budget which indicates cost at various levels of activities. . Cost-volume-profit analysis assists in evaluating performance for the purpose of control. 4. Such analysis may assist management in formulating pricing policies by projecting the effect of different price structures on cost and profit. Assumptions Following are the assumptions on which the theory of CVP is based: 1. The changes in the level of various revenue and costs arise only because of the changes in the number of product (or service) units produced and sold, e. g. , the number of television sets produced and sold by Sigma Corporation. The number of output (units) to be sold is the only revenue and cost driver. Just as a cost driver is any factor that affects costs, a revenue driver is any factor that affects revenue. 2. Total costs can be divided into a fixed component and a component that is variable with respect to the level of output. Variable costs include the following: * Direct materials * Direct labor * Direct chargeable expenses Variable overheads include the following: * Variable part of factory overheads * Administration overheads * Selling and distribution overheads 3. There is linear relationship between revenue and cost. 4. When put in a graph, the behavior of total revenue and cost is linear (straight line), i. e. Y = ax + b holds good which is the equation of a straight line. 5. The unit selling price, unit variable costs and fixed costs are constant. 6. The theory of CVP is based upon the production of a single product. However, of late, management accountants are functioning to give a theoretical and a practical approach to multi-product CVP analysis. 7. The analysis either covers a single product or assumes that the sales mix sold in case of multiple products will remain constant as the level of total units sold changes. . All revenue and cost can be added and compared without taking into account the time value of money. 9. The theory of CVP is based on the technology that remains constant. 10. The theory of price elasticity is not taken into consideration. Many companies, and divisions and sub-divisions of companies in industries such as airlines, automobiles, chemicals, plastics and semiconductor s have found the simple CVP relationships to be helpful in the following areas: * Strategic and long-range planning decisions * Decisions about product features and pricing In real world, simple assumptions described above may not hold good. The theory of CVP can be tailored for individual industries depending upon the nature and peculiarities of the same. For example, predicting total revenue and total cost may require multiple revenue drivers and multiple cost drivers. Some of the multiple revenue drivers are as follows: * Number of output units * Number of customer visits made for sales * Number of advertisements placed Some of the multiple cost drivers are as follows: * Number of units produced * Number of batches in which units are produced Managers and management accountants, however, should always assess whether the simplified CVP relationships generate sufficiently accurate information for predictions of how total revenue and total cost would behave. However, one may come across different complex situations to which the theory of CVP would rightly be applicable in order to help managers to take appropriate decisions under different situations. Limitations of Cost-Volume Profit Analysis The CVP analysis is generally made under certain limitations and with certain assumed conditions, some of which may not occur in practice. Following are the main assumptions and limitations therein of the cost-volume-profit analysis: 1. It is assumed that the production facilities anticipated for the purpose of cost-volume-profit analysis do not undergo any change. Such analysis gives misleading results if expansion or reduction of capacity takes place. 2. In case where a variety of products with varying margins of profit are manufactured, it is difficult to forecast with reasonable accuracy the volume of sales mix which would optimize the profit. 3. The analysis will be correct only if input price and selling price remain fairly constant which in reality is difficult to find. Thus, if a cost reduction program is undertaken or selling price is changed, the relationship between cost and profit will not be accurately depicted. 4. In cost-volume-profit analysis, it is assumed that variable costs are perfectly and completely variable at all levels of activity and fixed cost remains constant throughout the range of volume being considered. However, such situations may not arise in practical situations. . It is assumed that the changes in opening and closing inventories are not significant, though sometimes they may be significant. 6. Inventories are valued at variable cost and fixed cost is treated as period cost. Therefore, closing stock carried over to the next financial year does not contain any component of fixed cost. Inventory should be valued at full cost in reality. Sensitivity Analysis or What If Analysis and Uncertainty Sens itivity analysis is relatively a new term in management accounting. It is a â€Å"what if† technique that managers use to examine how a result will change if the original predicted data are not achieved or if an underlying assumption changes. In the context of CVP analysis, sensitivity analysis answers the following questions: 1. What will be the operating income if units sold decrease by 15% from original prediction? 2. What will be the operating income if variable cost per unit increases by 20%? The sensitivity of operating income to various possible outcomes broadens the perspective of management regarding what might actually occur before making cost commitments. Marginal Cost Equations and CVP Analysis Break even is the level of sales at which the profit is zero. Cost volume profit analysis is some time referred to simply as break even analysis. This is unfortunate because break even analysis is only one element of cost volume profit analysis. Break even analysis is designed to answer questions such as  How far sales could drop before the company begins to lose money? † From the marginal cost statements, one might have observed the following: Sales – Marginal cost = Contribution(1) Fixed cost + Profit = Contribution(2) By combining these two equations, we get the fundamental marginal cost equation as follows: Sales – Marginal cost = Fixed cost + Profit(3) This fundamental marginal cost equation plays a vital role in profit projection and has a wider application in managerial decision-making problems. The sales and marginal costs vary directly with the number of units sold or produced. So, the difference between sales and marginal cost, i. e. contribution, will bear a relation to sales and the ratio of contribution to sales remains constant at all levels. This is profit volume or P/V ratio. Thus, P/V Ratio (or C/S Ratio) = Contribution (C)Sales (S) (4) It is usually expressed in terms of percentage, P/V ratio = (C/S) x 100 Contribution = Sales x P/V ratio(5) Sales = Contribution (C)PV Ratio(6) The above-mentioned marginal cost equations can be applied to the following heads: 1. Contribution Margin Contribution margin  is the amount remaining from sales revenue after variable expenses have been deducted i. e. difference between sales and marginal or variable costs. Thus it is the amount available to cover fixed expenses and then to provide profits for the period. The concept of contribution helps in deciding breakeven point, profitability of products, departments etc. to perform the following activities: * Selecting product mix or sales mix for profit maximization * Fixing selling prices under different circumstances such as trade depression, export sales, price discrimination etc. CVP analysis can be used to help find the most profitable combination of variable costs, fixed costs, selling price, and sales volume. Profits can sometimes be improved by reducing the contribution margin if fixed costs can be reduced by a greater amount. The contribution margin as a percentage of total sales is referred to as contribution margin ratio (CM Ratio). Contribution margin ratio can be used in cost-volume profit calculations. 2. Profit Volume Ratio (P/V Ratio), its Improvement and Application The ratio of contribution to sales is P/V ratio or C/S ratio. It is the contribution per rupee of sales and since the fixed cost remains constant in short term period, P/V ratio will also measure the rate of change of profit due to change in volume of sales. The P/V ratio may be expressed as follows: P/V Ratio = Sales-Marginal Cost of SalesSales ContributionSales = Changes in ContributionChanges in Sales = Change in ProfitChange in Sales A fundamental property of marginal costing system is that P/V ratio remains constant at different levels of activity. A change in fixed cost does not affect P/V ratio. The concept of P/V ratio helps in determining the following: * Breakeven point * Profit at any volume of sales * Sales volume required to earn a desired quantum of profit * Profitability of products * Processes or departments The contribution can be increased by increasing the sales price or by reduction of variable costs. Thus, P/V ratio can be improved by the following: * Increasing selling price * Reducing marginal costs by effectively utilizing men, machines, materials and other services * Selling more profitable products, thereby increasing the overall P/V ratio 3. Breakeven Point Breakeven point is the volume of sales or production where there is neither profit nor loss. Thus, we can say that: Contribution = Fixed cost Now, breakeven point can be easily calculated with the help of fundamental marginal cost equation, P/V ratio or contribution per unit. a. Using Marginal Costing Equation S (Sales) – V (Variable cost) = F (Fixed cost) + P (Profit) At BEP P = 0, i. e. BEP Sales – V = F By multiplying both the sides by S and rearranging them, one gets the following equation: Sales at BEP = F. S/S-V b. Using P/V Ratio Sales (S) at BEP = Contribution at BEPP/V Ratio = Fixed CostP/V Ratio c. Using Contribution per unit Breakeven Point = Fixed Cost/Contribution per unit 4. Margin of Safety (MOS) Every enterprise tries to know how much above they are from the breakeven point. This is technically called margin of safety. It is calculated as the difference between sales or production units at the selected activity and the breakeven sales or production. Margin of safety is the difference between the total sales (actual or projected) and the breakeven sales. It may be expressed in monetary terms (value) or as a number of units (volume). It can be expressed as profit / P/V ratio. A large margin of safety indicates the soundness and financial strength of business. Margin of safety can be improved by lowering fixed and variable costs, increasing volume of sales or selling price and changing product mix, so as to improve contribution and overall P/V ratio. Margin of safety = Sales at selected activity – Sales at BEP = Profit at selected activityP/V Ratio Margin of safety is also presented in ratio or percentage as follows: Margin of Safety SalesSales at selected activity ? 100% The size of margin of safety is an extremely valuable guide to the strength of a business. If it is large, there can be substantial falling of sales and yet a profit can be made. On the other hand, if margin is small, any loss of sales may be a serious matter. If margin of safety is unsatisfactory, possible steps to rectify the causes of mismanagement of commercial activities as listed below can be undertaken. . Increasing the selling price It may be possible for a company to have higher margin of safety in order to strengthen the financial health of the business. It should be able to influence price, provided the demand is elastic. Otherwise, the same quantity will not be sold. 2. Reducing fixed costs 3. Reducing variable costs 4. Substitution of existin g product(s) by more profitable lines e. Increase in the volume of output 5. Modernization of production facilities and the introduction of the most cost effective technology 5. Degree of Operating Leverage Managers decide how to structure the cost function for their organizations. Often, potential trade-offs are made between fixed and variable costs. For example, a company could purchase a vehicle (a fixed cost) or it could lease a vehicle under a contract that charges a rate per mile driven (a variable cost). One of the major disadvantages of fixed costs is that they may be difficult to reduce quickly if activity levels fail to meet expectations, thereby increasing the organization’s risk of incurring losses. The degree of operating leverage is the extent to which the cost function is made up of fixed costs. Organizations with high operating leverage incur more risk of loss when sales decline. Conversely, when operating leverage is high an increase in sales (once fixed costs are covered) contributes quickly to profit. The formula for operating leverage can be written in terms of either contribution margin or fixed costs, as shown here Degree of operating leverage in terms of contribution margin = Contribution marginProfit = Total Revenue-Total Variable CostProfit P-VQProfit Degree of operating leverage in terms of fixed costs = FProfit+1 Managers use the degree of operating leverage to gauge the risk associated with their cost function and to explicitly calculate the sensitivity of profits to changes in sales (units or revenues): % change in profit = % change in sales x Degree of Operating leverage Managers need to consider the degree of operating leverage when they decide whether to incu r additional fixed costs, such as purchasing new equipment or hiring new employees. They also need to consider the degree of operating leverage for potential new products and services that could increase an organization’s fixed costs relative to variable costs. If additional fixed costs cause the degree of operating leverage to reach what they consider an unacceptably high level, managers often use variable costs—such as temporary labour—rather than additional fixed costs to meet their operating needs. Cost Volume Profit (CVP) Relationship in Graphic Form Apart from marginal cost equations, it is found that the relationships among revenue, cost, profit and volume can be expressed graphically by preparing a  cost-volume-profit (CVP) graph or break even chart. Breakeven chart and profit graphs, which is a development of simple breakeven chart and shows clearly profit at different volumes of sales, are useful graphic presentations of the cost-volume-profit relationship. Breakeven chart is a device which shows the relationship between sales volume, marginal costs and fixed costs, and profit or loss at different levels of activity. Such a chart also shows the effect of change of one factor on other factors and exhibits the rate of profit and margin of safety at different levels. A breakeven chart contains, among other things, total sales line, total cost line and the point of intersection called breakeven point. It is popularly called breakeven chart because it shows clearly breakeven point (a point where there is no profit or no loss). Construction of a Breakeven Chart The construction of a breakeven chart involves the drawing of fixed cost line, total cost line and sales line as follows: 1. Select a scale for production on horizontal axis and a scale for costs and sales on vertical axis. 2. Plot fixed cost on vertical axis and draw fixed cost line passing through this point parallel to horizontal axis. 3. Plot variable costs for some activity levels starting from the fixed cost line and join these points. This will give total cost line. Alternatively, obtain total cost at different levels; plot the points starting from horizontal axis and draw total cost line. 4. Plot the maximum or any other sales volume and draw sales line by joining zero and the point so obtained. Uses of Breakeven Chart A breakeven chart can be used to show the effect of changes in any of the following profit factors: * Volume of sales * Variable expenses * Fixed expenses * Selling price A CVP graph or breakeven chart thus highlights CVP relationships over wide ranges of activity and can give managers a perspective that can be obtained in no other way. Profit Graph Profit graph is an improvement of a simple breakeven chart. It clearly exhibits the relationship of profit to volume of sales. The construction of a profit graph is relatively easy and the procedure involves the following: 1. Selecting a scale for the sales on horizontal axis and another scale for profit and fixed costs or loss on vertical axis. The area above horizontal axis is called profit area and the one below it is called loss area. 2. Plotting the profits of corresponding sales and joining them. This is profit line. Limitations and Uses of Breakeven Charts A simple breakeven chart gives correct result as long as variable cost per unit, total fixed cost and sales price remain constant. In practice, all these factors may change and the original breakeven chart may give misleading results. But then, if a company sells different products having different percentages of profit to turnover, the original combined breakeven chart fails to give a clear picture when the sales mix changes. In this case, it may be necessary to draw up a breakeven chart for each product or a group of products. A breakeven chart does not take into account capital employed which is a very important factor to measure the overall efficiency of business. Fixed costs may increase at some level whereas variable costs may sometimes start to decline. For example, with the help of quantity discount on materials purchased, the sales price may be reduced to sell the additional units produced etc. These changes may result in more than one breakeven point, or may indicate higher profit at lower volumes or lower profit at still higher levels of sales. Nevertheless, a breakeven chart is used by management as an efficient tool in marginal costing, i. e. in forecasting, decision-making, long term profit planning and maintaining profitability. The margin of safety shows the soundness of business whereas the fixed cost line shows the degree of mechanization. The angle of incidence is an indicator of plant efficiency and profitability of the product or division under consideration. It also helps a monopolist to make price discrimination for maximization of profit. Applications of Cost Volume Profit (CVP) Concepts CVP analysis thus involves the analysis of how total costs, total revenues and total profits are related to sales volume, and is therefore concerned with predicting the effects of changes in costs and sales volume on profit. The technique used carefully may be helpful in the following situations: a) Budget planning. The volume of sales required to make a profit (breakeven point) and the safety margin for profits in the budget can be measured. b) Pricing and sales volume decisions. c) Sales mix decisions, to determine in what proportions each product should be sold. d) Decisions that will affect the cost structure and production capacity of the company. e) Make or buy decisions – Analyzing and determining whether it is profitable for a firm to manufacture a particular component or product themselves, outsource the production to others or buy a component/product already available for their use. ) To decide whether or not to close down a factory, department, product line or other activity, either because it is making losses or because it is too expensive to run. This often involves long term considerations, and capital expenditures and revenues. But it can be simplified into short run decisions, by making certain assumptions. g) Assist in determining production or activity levels of employee s and their work schedules. h) Assist in determining discretionary expenditures and product emphasis such as advertising. While this type of analysis is typical for manufacturing firms, it also is appropriate for other types of industries. In addition to the restaurant industry, CVP has been used in decision-making for nuclear versus gas- or coal-fired energy generation. Some of the more important costs in the analysis are projected discount rates and increasing governmental regulation. At a more down-to-earth level is the prospective purchase of high quality compost for use on golf courses in the Carolinas. Greens managers tend to balk at the necessity of high (fixed) cost equipment necessary for uniform spread ability and maintenance, even if the (variable) cost of the compost is reasonable. Interestingly, one of the unacceptably high fixed costs of this compost is the smell, which is not adaptable to CVP analysis. Even in the highly regulated banking industry, CVP has been useful in pricing decisions. The market for banking services is based on two primary categories. First is the price-sensitive group. In the 1990s leading banks tended to increase fees on small, otherwise unprofitable accounts. As smaller account holders have departed, operating costs for these banks have decreased due to fewer accounts; those that remain pay for their keep. The second category is the maturity-based group. Responses to changes in rates paid for certificates of deposit are inherently delayed by the maturity date. Important increases in fixed costs for banks include computer technology and the employment of skilled analysts to segment the markets for study. Even entities without a profit goal find CVP useful. Governmental agencies use the analysis to determine the level of service appropriate for projected revenues. Nonprofit agencies, increasingly stipulating fees for service, can explore fee-pricing options; in many cases, the recipients are especially price-sensitive due to income or health concerns. The agency can use CVP to explore the options for efficient allocation of resources. Project feasibility studies frequently use CVP as a preliminary analysis. Such major undertakings as real estate/construction ventures have used this technique to explore pricing, lender choice, and project scope options. Cost-volume-profit analysis is a simple but flexible tool for exploring potential profit based on cost strategies and pricing decisions. While it may not provide detailed analysis, it can prevent do-nothing management paralysis by providing insight on an overview basis. CVP Analysis Illustrations Unit in Expansion Mode In an expanding market, managers take advantage of fixed costs to generate profitable growth as additional customers do not add much additional costs. In such cases cost structure dominated by fixed cost structure is a smart managerial decision. Whenever a decision is to be taken as to whether the capacity is to be expanded or not, consideration should be given to the following points: * Additional fixed expenses to be incurred * Possible decrease in selling price due to increase in production * Whether the demand is sufficient to absorb the increased production Based on these considerations, the cost schedule will be worked out. While deciding about the contraction of business, the saving in fixed expenses and the marginal contribution lost will have to be taken into account. If a branch office is to be closed down, and if the branch is giving a marginal contribution sufficient to cover fixed expenses the contraction may lead to a loss. Example: Branch B Sales – `20000 P/V Ratio – 20% Marginal contribution – `4000 Fixed expenses of the branch – `3000 The branch is giving an extra contribution of `1000. If it is closed, the fixed expense saving is `3000, whereas the contribution lost is `4000. Hence it is not advisable to contract the business by closing down the branch. Illustration 1 Nice and Warm Ltd. , manufactures and markets hot plates. During the first five years of operation, the company had experienced a gradual increase in sales volume, and the current annual growth in sales of 5% is expected to continue into the foreseeable future. The plant is now producing at its full capacity of one lakh hot plates. At the monthly Management Advisory Committee meeting, amongst other things, the plan of action for next year was discussed. Managing Director proposed two alternatives. First, operations could be continued at full capacity and with the existing facilities an output of one lakh hot plates at a selling price of `100 per unit could be maintained. Secondly, production and sales could be increased by 5% to take advantage of the rate of expansion in demand for the product. But this could increase cost, as to achieve this output the company will have to resort to weekend and overtime workings. However, a policy of steady growth was preferable to maintaining status quo. In view of the company’s competitors having a substantial share of the market, the Works Director was of the view that it was not enough for the company to maintain merely the present share of the total market. A larger share of the total market should be obtained. For that, the company should increase the production by 10% through a modest expansion of plant capacity. In order to sell the output of 110000 units, the selling price could be reduced to `95 per unit. Thinking on the same lines, the Marketing Director put forth a more radical proposal. The strategy should be to seize the competitive leadership in the market with regard to both price and volume. With this end in view, he suggested that the company should straight away embark on an expensive modernization programme which will initially increase volume by 20%. The entire output of 120000 hot plates could be easily sold at a price of `90 per unit. At this juncture Managing Director expressed concern about the probable behavior of the company’s competitors. They might also expand in order to produce more and sell at lowest prices. Suppose this happened, he wanted also the financial effects of the proposals of the Works Director and the Marketing Director, if in those proposals, the increase in sales were to be only half of that predicted. It is required to critically evaluate the six alternatives, and suggest recommendations to be circulated to the Directors. In this connection the following details have been gathered: 1) If next year’s production was maintained at the current year’s level variable costs would remain unchanged at `30lakhs. ) The weekend and overtime working would increase with the variable and fixed costs. Variable cost would rise to `55 per unit while fixed costs would increase to `3025000. 3) In the proposal of the Works Director, the ratio of variable costs to sales would continue to be 50% and fixed costs would rise to `3225000. 4) In the proposal of the Marketing Director, as a result of increased pro duction efficiency and some savings from purchase of materials, it is estimated that the ratio of variable cost to sales would decrease to 48% and the fixed costs would increase by `516000. A tabular statement of comparative figures pertaining to Total Turnover, Total Contribution, Percentage of Profit to Sales and Break-Even units as regards to each of the six proposals is given below: Proposals| | Managing Director’s 1st proposal| Managing Director’s 2nd proposal| Works Director’s 1st proposal| Works Director’s 2nd proposal (1/2 of expected increase)| Marketing Director’s 1st proposal| Marketing Director’s 2nd proposal (1/2 of expected increase)| | (1)| (2)| (3)| (4)| (5)| (6)| Units Sold| 100000| 105000| 110000| 105000| 120000| 110000| Unit Selling Price (in `)| 100| 100| 95| 95| 90| 90| Total turnover (in ` lakhs)| 100. 0| 105. 00| 104. 50| 99. 75| 108. 00| 99. 00| Unit contribution| 50| 45| 47. 5| 47. 5| 46. 80| 46. 80| Total Contribution| 50| 47. 25| 52. 25| 49. 875| 56. 16| 51. 48| Fixed Cost (in ` lakhs)| 30| 30. 25| 32. 25| 32. 25| 35. 16| 35. 16| Profit (in ` lakhs)| 20| 17. 00| 20. 00| 17. 625| 21| 16. 32| Percentage of profit to Sales| 20%| 16. 19%| 19. 14%| 17. 67%| 19. 44%| 16. 48%| Breakeven units| 60000| 67222| 67895| 67895| 75128| 75128| Margin of Safety in units| 40000| 37778| 42105| 37105| 44872| 34872| Relative risks involved At the present full capacity level, it is enough to sell 60,000 units to break even. Other proposals raise the break-even point further. In an uncertain market, if in the proposals of Works Director and the Marketing Director, only half the increase is achieved, the margin of safety will be lower than the present 40,000 units. Profit as a percentage of sales is also lower than existing, in all the proposals. All this is a disquieting feature as the risk involved is greater in all the other proposals. Short-term and long-term implications of the Managing Director’s proposals The company has already reached its full capacity. As a short term measure, the Managing Director’s first proposal seems to be all right. From long-term point of view, neither of the proposals can be considered to be satisfactory. Both the proposals of the Managing Director do not provide a lasting solution. Though the second proposal maintains the market share, it results in less profit, both in quantum and percentage. As the capacity has already been reached there is an urgent necessity for the Managing Director to address himself to long range objectives and plans keeping in view the expansion in demand for the company’s product. Price elasticity of demand and suggestions on the pricing policy and cost structure It seems that both the Works Director and the Marketing Director have very elementary notions on price. They think that if the volume increases in order to sell the increased volume, price has to be lowered. No serious study seems to have been made on the price elasticity of demand for the company’s product. On the other hand, we have been told that there is a steady 5% annual growth in demand, which means that the prices need not be reduced only more market share has to be obtained. For incremental production, differential pricing in certain special markets has to be resorted to; if this is not possible, the increased production can be sold under a different brand name with a different price (A static cost structure, more or less, has been assumed). To beat competition, a better product has to be put in the market and cost reduction offered through value analysis, etc. Financial implications of the expansion schemes The expansion scheme envisaged has to be properly tested for profitability by feasibility study reports, etc. Source of financing the expansion has to be determined. The financial implications of share issue or borrowed funds have to be gone through. Long range objectives have to be defined and plans drawn accordingly to achieve them. Illustration 2 Reliable Chair Co. is a manufacturer of solid wood chairs. It is required to calculate a breakeven level for monthly sales. In other words the number of chairs Reliable needs to sell each month in order to breakeven needs to be determined. (While this example uses a manufacturing business, remember that break-even analysis can be used for both retail and service businesses as well) During this same month last year, Reliable sold 550 chairs. The business has enjoyed moderate growth over the last year, so the reasonable assumptions can be: * 600 chairs will be sold this month. * The companys income statement has been projected, based upon an expected volume of 600 chairs per month. * Each monthly expense has been classified as either fixed or variable. The classification that has been prepared is as follows: Fixed Costs / Month * Building Rent `10000 * Property Tax `4000 * Utilities `900 * Telephone `850 * Depreciation `8000 * Insurance `500 * Advertising `3000 * General Office Salaries `7000 * General Maintenance `700 Total `34950 Variable Costs / Month * Direct Materials `28800 (wood. varnish, etc. ) * Direct Labour `26400 * Overtime Labour `1500 * Billing Costs `2000 * General Maintenance `1300 Total`60,000 General Office Salaries is included as a fixed cost because in the short run these salaries must be paid regardless of whether any chairs are sold or not during the month. Obviously, if the firm fails to sell chairs for a number of months, the office salaries will decline and will no longer be considered fixed. This cost would eventually change with the volume of sales. Remember, though, that break-even analysis focuses only on the short run. General Maintenance Expense appears on both the fixed and variable lists. This is because some maintenance costs will be incurred regardless of how many chairs we sell (the fixed portion). The office wastepaper baskets will still be emptied, floors washed, and windows cleaned. On the other hand, the more chairs we sell, the more the machinery will be used, so the incidence of breakdown is likely to increase, which will require more maintenance (the variable portion). How to divide maintenance costs between fixed and variable cost is a matter of choice. In the above example, we have divided maintenance as 35 percent fixed and 65 percent variable. One more piece of information is needed, which is readily available from the business records, before the break-even point can be calculated: the Selling Price. The selling price is known for an existing business. However break-even analysis can actually help to determine the selling price. Currently, Reliable chairs are selling to dealers for `250. Lets summarize what we know so far: * Total monthly fixed costs `34,950 * Total monthly variable costs `60,000 * Selling price for one chair `250 Expected number of chairs to be sold this month 600 Heres where we figure Variable Cost per Unit. Simply divide the Total Variable Cost by the Number of Units we expect to sell to get the Variable Cost per Unit. An existing business may use a previously calculated variable cost per unit figure, but it is best to review variable costs and expected sales at least annually to assure the most accurate data in doing your break-even analysis. In general, the formula for figuring Variable Cost per Unit looks like this: Total Variable Cost / Number of Units = Variable Cost per Unit The calculation for this example looks like this: 60,000 Variable Cost / 600 Units = `100 Variable Cost per Unit Break-Even in Units Total Monthly Fixed Costs + Variable Costs (variable cost per unit times number of units sold) = Net Sales Revenue (selling price per unit times number of units sold) In the formula, let X stand for the number of chairs needed to break even. The Net Sales Revenue at the break-even point in this example will be `250 (selling price for one chair) times X number of chairs. The Variable Cost per Unit in this example is `100, so Variable Costs equal `100 times â€Å"X† number of chairs. Plugging the values into the break-even formula: 34,950 + `100X = `250X Solving the equation, we find X = 233 In other words, Reliable needs to sell 233 chairs during the month just to cover all expected expenses. At the 233-chair point, Reliable will not be making a profit or incurring a loss, but the very next chair they sell will give them a profit. Break-Even in Sales Dollars Breakeven level can also be calculated in terms of dollars. We know how many chairs need to be sold and how much each chair sells for, so multiplying Chairs times Dollars per Chair will give us the break-even level of sales dollars. i. e. 233 chairs x `250 per chair = $58,250 Another way of thinking about this number is that once Reliables sales for the month have passed `58,250, they should be making a profit. The words should be are important. Remember that many of the figures we used in determining fixed and variable costs were based upon judgment. For a business still in the planning stage, these figures would be estimates or projections. This means that it is probably best not to rely on a single number like the 233 chairs we calculated as the break-even point. It is better to use the real power of break-even analysis to develop a range of points which better define what might actually happen. Break-Even to Set Price In the above calculation, we assumed the price was set at `250. What happens to our break-even point if we lower the price to `225? Again, Fixed Costs + Variable Costs = Net Sales Revenue i. e. `34,950 + `100X = `225X Solving, we get X = 279. 6 ~ 280 (approx. ) We find when we cut our price by 10 percent, that the number of chairs we will have to sell to break even went up just over 20 percent. Because we cant sell six-tenths of a chair, Reliables break-even is actually 280 chairs in this case. Now, imagine recalculating the break-even point for a whole range of item prices. You would get a corresponding range of break-even points. You can use that range to judge the feasibility of actually reaching different sales levels. If it seems physically impossible to produce the number of units needed to break even at the lowest item price in your range of reasonable prices in the actual marketplace, this is a good advance indication of a potential problem. Possibly, the project is not feasible. On the other hand, it could be an indication that your classification of expenses is off. You can try adjusting your estimate of fixed expenses to see how that affects your break-even point. The Profit Break-Even Formula Profit is what is left of the net sales revenue after all expenses have been covered. The basic break-even formula identifies the point at which all expenses have been covered, but where profit has not yet begun to accrue. In other words, implicit in the basic formula is the idea that profit is zero at break-even. In this example, break-even looks like this: Fixed Costs + Variable Costs = Net Sales Revenue i. e. `34,950 + `100X = `250X Actually, profit is in the formula, but at a zero value: Profit + Fixed Costs + Variable Costs =Net Sales Revenue . e. `0 + `34,950 + `100X = `250X The general form of the formula above, which we will call the profit breakeven formula, is the form to use when you want to estimate the level of sales necessary to meet a certain profit requirement. Lets look at an example using the Reliable Chair Co. data. It is now required to find the level of sales necessary to meet desired profit projections. It is known that plans requir e a profit of `50,000 for the period under consideration. How many chairs must Reliable sell to make that profit level? Recall the profit break-even formula and fill in the values we know or have already calculated: Profit + Fixed Costs + Variable Costs = Net Sales Revenue i. e. `50,000+ `34,950 + `100X = `250X Solving X = 566. 33 ~ 567 (approx. ). So, in order to make a `50,000 profit, Reliable must sell 567 chairs this month. As with the basic break-even formula, the real strength of profit break-even is its ability to give you a range of figures to use in your planning. What if selling 567 chairs a month is physically impossible for Reliable? Suppose Reliable is only able to produce 500 chairs a month because of production constraints. What price would they then have to charge to make a `50,000 profit? First, recognize that the variable cost per unit will not change. Therefore, it will still cost `100 to produce each chair. Following the procedure weve been using, the number of chairs was always represented by X because the quantity of chairs was unknown. Now we know that the number of chairs we can produce is 500, and we want to find the sales price. So, lets let Y = sales price and fill in the rest of what we know. The profit break-even formula would then look like this: Profit + Fixed Costs + Variable Costs = Net Sales Revenue . e. `50,000 + `34,950 + `100X = 500Y Solving, we get, Y = `269. 90 = `270 (approx. ). The above calculation shows that if we must make a `50,000 profit and are only able to make 500 chairs in a month, the price that will allow us to meet that goal and stay within our production constraint is `270. Obviously, charging anything over `270 would insure meeting the profit goal. However, there is a ceiling price above which Reliable will have priced themselves out of the market. The market-ceiling price is unknown without further market research. Expansion Decision Suppose Reliable Chair needed to expand its warehouse facility by renting additional space. The monthly rent for the new building is `5000. If nothing else changes, how many chairs must Reliable now sell to meet its profit goal? First, recognize that the new rental cost is going to increase Reliables fixed costs. We shall assume, in this case, that all other variables remain unchanged. The values in the profit break-even formula will now become: Profit + Fixed Costs + Variable Costs = Net Sales Revenue i. e. `50,000 + `39,950 + `100X = `250X Solving, we get, X = `599. 67 ~ 600 (approx. . So the `5,000 expansion is going to require that an additional 33 chairs be sold each month in order to maintain the profit goal. Or alternatively, another 33 chairs x `250 per chair = `8,250 From these calculations, we see that `8,250 in sales is necessary to cover the additional `5,000 in fixed costs and maintain the profit level goal. Note that this same type of analysis could be done for any plan ned expenditure that affected fixed costs. For example, a planned increase in advertising or a mandated increase in utility costs could also be handled using this analysis. These examples would increase the fixed costs. Raises given to personnel would increase either fixed or variable costs and possibly both.

iPad Shortcuts for Students

iPad Shortcuts for Students iPad Shortcuts for Students The influence and growth of modern digital technologies is undeniable. More and more spheres are going digital and information technologies are getting more and more sophisticated. Brand new devices can even be confusing at times! Along with the number of possibilities that become available with the help of new gadgets, the number of potential complications increases too! Today students commonly use iPad for a number of its advantages. First, its comparatively small and portable. Second, being equipped with a number of functions, it makes a student’s life easier! The tips suggested in the following article can help students get the most out of their iPad by using it effectively. Easy shifting among the apps To make your work with iPad quick you have to learn how to shift between various apps. As the vice president of the Gravit8 Marketing Andrea Morcherman, suggests, the best possible way to open the multitask menu is to tap the home button twice or to swipe upwards with four fingers (Flavin, 2014). In this way you’ll open all the apps which you’ve recently used. You can also use this method to copy and paste information from one app into another. Get more with the triple click! Its quick and easy to open the multitasking bar with a double-click. One interesting fact is that a triple-click will increase general access in general settings to the menu. A simple triple-click will activate additional options like changing the colour of the screen, zoom function and voiceover (Flavin, 2014). Make typing more convenient A majority of people use both hands when typing. Though holding your tablet this may turn out to be rather challenging! Find the keyboard button and hold it in the right bottom corner and select the option split. You’ll get two halves of the keyboard on each side of the screen. You’ll then be able to type with both thumbs while holding the gadget upright (Flavin, 2014). Isnt it much more convenient to use two parts of the keyboard instead of one? Creating a foreign language massage on your iPad Sometimes you need to type some information or just a single word in a foreign language using a simple English language keyboard. This can be discouraging! Still, theres a perfect solution! Its simple to get access to the whole range of accents and characters by just holding a letter down until you notice the grid on the screen (Flavin, 2014). Taking immediate screen shots As your iPad encompasses the function of a camera, you have a nice chance to take any kind of pictures, and save them, no matter what it might be: a menu in a cafà © or the schedule of your sessions for the next semester. To make an immediate screenshot, hold the home button and the Sleep\Wake button, which is on top right corner of your iPad simultaneously for a few seconds. Soon you’ll notice that the screenshot you need is in the camera roll (Flavin, 2014). Bingo! As easy as that! Create your own list of abbreviations Theres always a number of addresses which are frequently used. It can be good idea to make the list of abbreviations in your General Settings. Your first step is to type some text in the phrase box. Second, add the abbreviation that will be connected with this text into the shortcut box. Done! Next time instead of typing the name of the site you often use, it will be inserted by means of auto-fill function after typing just a few initial letters. Why not save time this way? Enjoy using E-books for your studies One essential advantage from your iPad can save money! Prices often tend to increase and delivery service is sometimes late. Taking into account the opinion of Jordan Schiefer, IT and web specialist, by installing Apples iBook application, students can forget about spending money on textbooks and download any course textbook they need! Flavin. 10 iPad Shortcuts to Make Your Life Easier. 5 Apr. 2014. http://rasmussen.edu/

Juventus FC Essay Example | Topics and Well Written Essays - 1000 words

Juventus FC - Essay Example won by Juventus would be handed over to Inter Milan who had finished second in the league behind Juventus and in addition to this Juventus were also relegated, which meant that they were supposed to play in the Serie B which is an inferior league for a club like Juventus, the punishment did not stop there, points were deducted for Juventus even in Serie B. The whole scandal was discovered in May of 2006 by Italian police who had tape records of football managers and referees trying to rig football games, AC Milan, Fiorentina, Lazio and Reggina were all involved in fixing the games of the Italian league, these are some of the top clubs in Italy and it was really shameful. The fans must have also felt cheated when they came across this shameful incident. It was found that games were fixed by selecting referees who would favor their clubs, the recorded tapes were heard by the Italian police and it was found out that most games were indeed rigged much to the dismay of all the football fans across the globe. Luciano Moggi who was the general manager of Juventus back then tried to heavily influence the appointment of referees for top Serie A games, he wanted referees who would favor his club so that they would easily win the Serie A title. Once the clubs were found guilty it was earlier suggested by prosecutors that Juventus should be sent to a division below Serie B, the prosecutor also suggested heavy punishment for the other clubs involved which also included points deduction. The prosecutor also wanted Juventus to be stripped of their Serie A titles which they had won in the year 2005 and 2006. The initial punishment suggested by the prosecutor was wavered; Reggina stayed in the Serie A but had to face a 15-point penalty and a hefty fine. The club president of Reggina was banned from the game for a few years but this punishment was just a slap on the wrist compared to the punishment that Juventus received. Juventus were stripped of their titles which they had

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Northern California film history assignment - Essay Example ory that has caused the movie industry to evolve into its current form, the opinions and findings of Trimble will emerge as most relevant and realistic. There is an element of a forgotten past behind Hollywood’s emergence as the capital of motion picture industry. The events that can reveal the historic background of this transformation date as long back to the early 1900s when the production activities began shifting from San Francisco to Los Angels in 1907. This has heralded a major change for the Northern California movie scenario apart from the changes the film industry underwent as a whole. Before that most of the production activities in the US have been centered in San Francisco Bay Area. An inquiry down the lane of history reveals that the Bay Area was a fertile hub for the early experiments, inventions, and evolution of motion pictures. Pioneers like Edward Muybridge, Edison, and Edwin Porter were involved in the process of movie making in the Bay Area. Without their contributions the motion film industry in US would not have gained its momentum. Thus one cannot overlook as irrelevant Trimble’s observation that motion pictures were invented in San Francisco. Yet, much of the print history on motion pictures has ignored San Francisco’s contribution and directed their focus on Hollywood as the cognation point of film industry. Credit doesn’t seem to have been given where it actually belongs and the flawed assumptions need to be rectified in the light of the facts available. However, if one explores the oral history in the matter the contention seems to honor Southern California’s role in giving the boost to the movie industry that made it flourish to its current status. When one examines history and the recorded facts therein, it becomes evident that San Franciscans are key players in the making of the movies and their role has been pivotal right from the embryonic stage of motion pictures’ development as an industry. It was Eadward Muybridge,

Write informations about Water Cycle Essay Example | Topics and Well Written Essays - 250 words

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