Describe how the concept of mass production, standardization, and specialization have been applied to lower the...
Describe how the concept of mass production, standardization, and specialization have been applied to lower the cost of a college education.
Homework Answers
the concept of mass production; in case of the educational industry if there are more students in a single class the cost can be apportioned to more number thereby decreasing the cost of education
eg; let's take two cases in both the cost of education is $10000 and if there are only 10 students in a class then the cost per student is $1000 and if there are 20 students the cost per student decreases to $500
The concept of standardization; in the case of the educational industry if the studies are standardized there is less requirement of experts(teachers). since the same teacher may teach in different classes with the same skill(knowledge). Thereby decreasing the cost of maintaining more professionals thereby reducing the cost o college education
The concept of specialization; in the case of the educational industry if a teacher/professor is specialized in his/her subject then it will result in the elimination of work duplication, save valuable time, and reduce personnel, equipment, facility, utility, materials and supplies, and administrative costs etc... this will reduce the total cost and hence the cost of college education
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Describe how the concept of mass production, standardization,
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a. How much of the indirect cost would have been applied to
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the allocation base?
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indirect costs are allocated to product A?
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5, Study Questions #6. Ch 1. Which of the following correctly describe how the concept of international competitiveness applies to a nation? Check all that apply. Because a firm's resources are limited, it has to outsource production to a lower wage country whenever possible Some firms reach an absolute advantage in producing a good, which earns an absolute advantage for the nation. No nation can be equally competitive in everything. Nations benefit from specialization and by exporting products for which...
a. How much of the indirect cost would have been applied to
product A under the simple costing method using machine hours as
the allocation base?
b. How much of the indirect cost would have been applied to
product B under the simple costing method using machine hours as
the allocation base?
c. Using an activity-based costing system, how much of the
indirect costs are allocated to product A?
d. Using an activity-based costing system, how much of the
indirect...
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