Gee, I , uh,,,, don't know what to say. But when I get comfortable I will melt your face with bog entries until you beg me to go away, back where I came from in a cyber posthole.
Thanks for listening.
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The Dream Team: Fixed, Variable, and Mixed Costs
By Patrick Darnell
Managerial Accounting Practices
Introduction: Starts with a L’ Clog (Live Chat Log)
Example One: Mixed Cost (from a Live Chat Log or L’Clog)
Consider your Cell phone fixed at base of 500 minutes > overage is variable cost (LC17:00 to 25:00, June 1st)
Change plan to include bigger factors
Flat rate or per minute
mixed cost=semi fixed=semi variable--8:49pm
Cancellation fees > go to higher flat rate with more minutes
Example Two: Startup costs as in Analysis of all costs in an Expansion Proposal
factory Start up cost
(Live Chat: Daniel.Bermudez: LC 23:40 to 35:30, June 1st)
“In a factory far, far away – “
“One million piece parts, (1,000,000) capacity clips is the max nut for a factory of yours, where you pay $1000 rent...”
“You get the New Contract where 2 million clips are now needed; you have to double your output.”
Consider the necessary Modifications:
Facility expansion: Would the cost outweigh the income? ... Etc.
Justify: undertaking investment for startup: New Machinery is most expensive and most important consideration.”
I.e.: European family owned/operated companies that produce high quality, original products, normally are capped out (at max capacity) in production. Then once discovered by global birddogs, they are urged to expand. It could be an economic hit man (EHM) trying to convince or urge them to expand... The “Family” does an analysis, look around and say: “What do we need to expand for?” (Perkins, John, Monday, May 8, 2006; 12:00 PM Economic Hit Man)
Conclusions:
Numbers, analyzed in terms of costs, for the stakeholders to stay very well off, show in this case there is no good reason to initiate startup costs to double or triple production, or franchise their process, of the family business.
Realistic costs stress scrutiny of the family enterprise, as start up capital investments will be too outrageous.
The cost analysis becomes a cardboard box carrying the past into the future. Costs of original startup compared to today, prove that the business could never duplicate the costs even when including the fixed and variables going to new ranges as well.
Venture is not advantageous to the inertia of the family company described.
Economic Hit Man is asked to leave. (Live Chat: Daniel.Bermudez: LC 23:40 to 35:30, June 1st)
Dream Team Accounting Management Decisions
I am reporting today on the possibility of fixed costs versus variable costs versus mixed costs and how they might work together to keep over-head down. In hazy terms, differences in the three forms of costing are in the “accounting processes.” I have discussed the situation with professor and classmates. I also have read my classmates contributions to the forum of opinion in our online L’Clog, and I have reviewed chapters in our text: Management Accounting, by Anthony A. Atkinson, and Robert S. Kaplan with S. Mark Young.
Example Three: Dobie, Maynard, and Don
Table First: The Dream Team
Type/Team member: Dobie Gillis Maynard G. Krebs Don Johnson
Please consider the following discussion.
Dobie Gillis is happiest with fixed costs. Maynard G. Krebs prefers variable costs, while Don Johnson has a thing for Mixed Costs. Note: Costs as described are not gender specific, but rather month to month specific.
Dobie Gillis took ten years of his life to perfect the business of the Dream Team. He is a master at keeping the fixed costs paid on time, and managed to the penny.
Maynard G. Krebs is the dissident in the enterprise and wants to make some of the costs variable.
Don Johnson, the smooth retiring G-man, wants the Dream Team to conform to industry standards, but is calling for more mixed costs, in order to make the enterprise more slippery.
Who is most accurate? They all are.
Dobie with his fixed costs is the reactionary in the example. He is maintaining a constant tenure in the company. His goals are founded on historical fact that the fixed costs are constant. He likes constant numbers; the term “variable” disturbs him. He has learned to complete all the production in the first three quarters. Then at the end of the year his results are a coasting finish, showing low inventories and high profits.
Maynard is hoping that he can retire soon; He doesn’t like the word: “work.” He has been trying to convince Dobie that in making the costs variable or “costs per piece they produce,” they can define closer margins in the accounting. The company will look better on paper, year round, and they can sell out sooner.
Don Johnson, we will discuss later; though he is most interested in low-bidding all the competition. He wants to be able to manipulate the costs of production, so the customers think they are getting a “deal.”
Sum Definitions: Is it Fixed or is it Variant?
Keywords:
Costs = Expenses: cost reacts either by increasing, decreasing, or staying level, relative to changes in business activity.
Fixed Costs = expense totals that do not change in proportion to the activities of the business. Rent, Insurance, Salaries and Utilities are examples of fixed costs.
Variable Costs = expense totals change in proportion to the activities of the business.
Mixed Costs = expenses sometimes act as fixed, but overruns can make the expenses act as variable, depends heavily on proper planning, and decisions made in advance by stakeholders.
Start up = amortization, credit builder, machinery purchases, Signing bonuses, promissory notes, Permits and certifications, furnishings and fixtures, architectural/ engineering fees, bonds, lease deposits.. And endless array of expenses that make up the high cost of business startup today. Whew!
Example Four includes Example Three: Claire’s Antiques is the Dream Team
Claire’s Antiques is a company that we have been following. Claire’s Antiques has a history of long established suppliers’ relationships, and manufacturing representatives’ relationships. They are happy with their good standing and triple AAA credit. However the stakeholder’s noticed a blip on the radar screen that showed up in the final quarter of last year, and is becoming a bigger smudge. They are witnessing competition creeping into their markets. The competitor is from the Pacific Rim and NAFTA partners. (Phase 2, Group Project; Part Two)
The representatives report the competitor has “similar quality, but much lower prices.” Claire’s Antique Reproductions have remarkable industry setting standards of quality, but prices remain at the same level, higher, regardless of production. The question comes to mind, “What if we lose some of our market and we begin over-producing, and have too much inventory?”
This is the “could be worst status” Claire’s the manufacturer might face. Maybe it is time for the company to begin accounting with variable costs per piece produced, and per piece part purchased.
Claire’s could bring into play a “Value Added Software, and Point of Sale Hardware,” to track the costs, from “raw material to delivery.” The technology can be paid for by the representatives and distributors, as Claire’s ramps up and requires a total organizational-wide coordination of distribution processes. Moreover, the costing will become leaner. That is, it will lose any unnecessary month to month carry-overs. Computer technology is a brilliant tool for counting cost drivers to the thousandth dollar. (McKinsey & Co., 2006)
Regardless of the outcome, to initiate variable costing will purposefully help Claire’s put more distance between themselves and the competition. “For internal business practices, [juxtaposing] the variable costs related to production may help to avoid temptation to overproduce, to give the appearance of increased profitability.” (Silva, Julie, 2006)
Likewise, the need for additional units may become a mixed cost that Don the sales-guy can use to bid higher price. If the consumer need is improperly predicted by his representative in Missouri, for instance, and the additional order exceeds a certain number of units, well, the cost goes up on the back order. This amount is decided in advance, at sales negotiation. This is just like the cell phone example this paper opened up with.
Sometimes a good Offense is the best Defense
This offense move will be difficult to sell to Dobie, who is reactionary and resistant. However it can be tried for the first quarter of the next year, and if profits are the same, or lower, then it will be the best thing for Dobie. He will be set for another ten years perfecting the variable costing of account management.
Maynard can go ahead with his desire to retire, and market a leaner Claire’s Antique Dream Team, and look for gullible buyers.
Don can be semi-tough up front with his bid-proposals and double his orders in the next quarter. Claire’s, in its decision to go lean, is headed for best practices. Don can mix costs in semi-fixed / semi-variable combinations, what ever works best.
What Claire’s Antiques will achieve in its relationship with its workers and distributors includes not only the further development of goodwill, but also affirmation for special nourishment for growth. A mutual trust built on the commitment to set new costing goals, not just compliance. In addition those who are working within the new model, they are apt to seize the opportunity to contribute and share in the mutual value added. With the sacrifice of change, comes shared purpose that provides confirmation, inspiration, and personal transformation.
Without “goodwill, results, authenticity, connectivity, and empowerment,” leaders and others will not “team up” for shared results. Therefore, making a micro-management change in costing will bring the company sustained success.
References / Notes / Persistent Links
Atkinson, Anthony A.; Kaplan, Robert S.; Young, Mark S.; Management Accounting, Custom Edition, taken from fourth edition, Pearson, Prentice Hall custom Publishing, Upper Saddle River, NJ, USA, 2005.
The McKinsey Quarterly, McKinsey & Co. “’Toward a Leaner Finance Department,’ The finance function eludes any sort of standardized lean approach, but three ideas from the lean-manufacturing world are particularly helpful in eliminating waste and improving efficiency;” April 20, 2006.
Bermudez, Daniel; Live Chat: L’Clog, June 1st, 2006, CTUOnline. Costing Examples.
Silva, Julie; CTUOnline, Discussion Board 1, Phase 2; ACC 350-0602B-18: Managerial Accounting Practices, June 5, 2006, Keywords: Costs Fixed, Costs Variable, Costs Mixed, and Costs Start up.
Nijs, Eric de; GRACE at Work TD March 2006 47 DESIGNING LEARNING a new social contract changes workplace relationships. Eric de Nijs coaches executives. He is on the faculty of Georgetown University’s Leadership Coaching Certificate Program; www.strategicliving.net. Copyright ASTD, March 2006, Pp. 47-49.
Perkins, John; Confessions of an Economic Hit Man, Interview, Monday, May 8, 2006; 12:00 PM, John Perkins, author of "Confessions of an Economic Hit Man," was online to discuss his indictment of the international financial system for which he once worked. USA Today.
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