Drury College Essays Samples For Students

Introduction

This paper explores the costing and pricing methods applicable to firms in the tourism and travel sector using Allegiant Travel Company as an example. Allegiant Travel Company is an American company providing leisure travel products and services to under-served cities in the US. It provides air transport, air transport-related products, travel protection products, hotel rooms and other third party travel products. The paper also analyses the financial statements to assess its financial state.

Costing methods

Several costing methods can be applied in the tourism industry depending on the nature of the assignment and the operations of the organization. Applicable costing methods ...

Standard costing and variance analysis

The standard cost is the predetermined cost that is carefully and definition. The estimated cost of the production of a single unit or the cost of different service performance is done (Rajasekaran & Lalitha, 2011). This is the narrow definition of the standard cost. The broad meaning of the standard cost is the estimated production cost that is involved in the projects, operation production and the administrative purposes. The standard costing uses the techniques that standardize the cost and the revenues. This is in the purpose of controlling the cost factors and the determinant through the variance analysis.
It is ...

Fiscal year also known as accounting year is the completion of a one-year accounting period of an organization. Fiscal year of a company has no connection with the calendar year. A fiscal year may or may not end on December 31 of a year. Fiscal year is stated by expressing the year end date. A fiscal year end can be end date of any month during the year. As per the definition of Internal Revenue Service (IRS), a fiscal year is defined as twelve consecutive months ending on last day of any month of the year (Drury, 2011). Fiscal ...

Costing is the process of tracing and allocating costs to a product, service, or a cost center (Drury, 2008). The cost of a product consists of both direct costs and a fair share of overheads. There are number of costing techniques that Monster Beverage can use that include process costing, job costing, absorption costing, and activity based costing (ABC).
Process costing assigns costs to products as the move through various stages or processes (Drury, 2008). In process costing, costs for each process are accumulated over a period such as a month and then the average cost is allocated to ...

Introduction

The pricing strategy should be an integral part of decisions in the marketing position, and it should depend on the overall development strategy of the business and marketing plans. Therefore, companies should not set one price but a pricing structure that should reflect on the variations in geographical demand, costs, the timing of purchase, requirement of market segments, order levels, the frequency of delivery, and service of contracts.

Why different pricing strategies are appropriate in some circumstances

Pricing is an important managerial decision, and most firms do not encounter pricing decisions in major ways on daily operations (Weygandt, Kimmel and Kieso, 2009, pp.59). However, there is a need ...

Is Diabetes Dangerous to us?

Abstract
In recent years, the medical experts and practitioners have expressed alarm over the growing number of diabetes related deaths. While most agree that the issue deserves attention, the unison agreement revolves on how to respond to the problem of diabetes management. This paper approaches the problem of diabetes management through the enforcement of dietary measures and new lifestyle approaches. The paper compares the response to diabetes management measures across the sexes with examination focused on the glycaemic and stress levels. The examination indicates the effects of the current diabetes management system that combines medical, social and dietary ...

There is a growing area of concern between the rights of patients and the often necessary practical needs of the students in the medical field. The debate has majorly focused on whether patient’s rights are infringed when a case of negligence or misdiagnosis has happened in a medical facility that has been set up to cater for the needs of the patients and to horn the skills of medical students. Cases of medical malpractice have been on the rise which has led to fatalities and other unplanned costs (Lim, pg. 6). There have been a number of cases whereby patients have lost ...

Modern Yoga Manufacturers

Company summary and design of the value chain
As a student in the field of business, starting up a Sensory Yoga Mat Manufacturing Company has been my major plan. Fundamentally, the Yoga mats refer to specially designed or fabricated mats that are utilised as an aid during the yoga practice, thus preventing the hands and feet from slipping. The company will be named Modern Yoga Manufacturers Company. In this way, the Modern Yoga Manufacturers will involve itself in the design of the modern sensory yoga mats, which have sensors to measure the performance, power and strength of the user. ...

This analysis considers the cost behavior of the various cost items in order to determine the cost and profit at various levels of activity. Fixed costs are costs that do not vary with changes in output. Variable costs are costs that change with changes in output. Semi-variable costs are costs that are partly variable and partly fixed. Stepped fixed costs are costs that remain at a particular level of activity but step-up to a new level when activity level exceeds a particular point (Drury, 2012).
In this case, the cost items are classified into either fixed costs, variable costs, ...

- What is Agile and what are user stories?
Agile refers to a software development methodology that provides more efficient ways of handling and managing software development projects as compared to traditional methods such as the waterfall development methodology. Agile development allows for the evolution of requirements and problem solutions through the collaboration of cross-functional teams. The methodology promotes evolutionary development, adaptive planning, continuous improvement, early project delivery, and promotes rapid response to change. Agile has some unique characteristics and emphasizes more on interactions than development processes and tools. The methodology also places more focus on delivering working software ...

Introduction

I agree that Standard Costing and Variance Analysis are vital and crucial for any kind of business. I will support this position by showing the importance of standard costing and variance analysis for businesses. In light of this statement, I will also show that standard costing and variance analysis are as important to small businesses as they are to large organizations. Variance analysis is the comparison of standard costs and actual costs hence it is important for any type of organization. This is because controlling costs helps in identifying ways in which costs can be controlled thus enhancing efficiency ...

Report on Sierra Ltd.

Report on Sierra Ltd.

Introduction

This report will assess the dip in profit of the Sierra Ltd. and will closely monitor the current costing and pricing strategies. It will also assess whether the activity based costing is suitable for the company or not. On further, if activity based costing is implemented, the steps that should be taken by the management to ensure the implementation will also be analyzed. Mr. Kaur’s suggestions will be deeply assessed to ensure if going along his way is safe and profitable.
The important concerns of the Sierra Ltd. are due to the refinancing to ...

There is a wide accepted concept that after centuries of development, the Muslim world began to decline in the 15th century. Did it really decline? In this work I would like to illustrate the main trends of developments of the Muslim world in early 15 – early 20 century. We know that in part of the second millennium, and for five centuries later there were many Asian invasions in other regions of the world, wide expansion (Seljuk, Arab, Turkish). But then the stagnation began. Since the "golden age" of the Abbasid Empire, it has not changed territorially. And large areas ...

Introduction

Accounting and finance are two different things and most of the people have been regarded them as similar things. Accounting is the name to record the day to day transaction of a company, while finance is the name of utilizing the funds of an organization at a place from where the likelihood of earning would be on a higher place. The concept of accounting and finance is totally different with each other but most of the people regarded both of them as single and identical one. Accounting is the name of to record the day to day transaction of a company, while finance ...

Introduction

When it comes to organizations, then there are two important things which are more than essential for them, which particularly are cost and revenues and both of these provisions are quite important for the sake of an organization. Organization basically refers to a place wherein people belong to different demographics and mindset work together merely for the achievement of a single and pre-specified goal in particular
There are certain things which are more than essential for a company to manage their operations and financial structure. Among these provisions, the name of costing is one of them, which has its own significance ...

Part A

The standard cost of a good or service is the pre-determined cost of a good or service depending on the various circumstances that surround the business. Standard costing is therefore is an accounting concept that helps to determine the standard cost of a good or service. The predetermined costs are compared to the actual costs and the difference makes the variances (Berger). The variances are analysed thoroughly to find out why they exist and also to find a way to mitigate the risks that come with it. Most companies, big or small, need the standard costing procedure due to various reasons.
Standard ...

(REF TO EXCEL DOCUMENT ATTACHED FOR COMPUTATION)

In order to ensure maximum returns to a company, a management accountant must ensure that goods are produced at the lowest cost possible so as to increase the margin of profit attributable to each product.Companys are however faced with the problem of deciding what particular products can be profitably produced in house, and those that should be sourced from outside suppliers given the given cost requirements of each product.
In deciding the proper mix of the products that should either be produced or sourced from outside suppliers, a management accountant has to determine the ...

We all make decisions or are involved in processes of decision making in our everyday life. These decisions range from basic to complex ones and resources are involved to make best decisions. While other decisions can be made logically and rationally, others are made less consciously depending on different courses of action (Ganegoda, 2008). Decision-making is described as the process where a reasonable course of action that commits the decision maker to the future is selected from various alternatives. This choice is based on the preferences and values of the decision maker and is realized after ensuring all sufficient options ...

Experiment: Investigating the integumentary system.

Introduction
Scientifically, the integumentary system consists of the skin and its appendages. It functions primarily as an outer protection for internal organs from bacteria. Superficially, the skin serves as a buffer to trauma. Its integrity decreases incidences of invasion by harmful organisms even when breakage occurs. (Martini 2009).
Beside these basic functions, the integumentary system is also responsible for insulation by assisting in regulating body temperature; production of hair; excretion of waste through pores and a sensory station for the transmission of impulses when touched. Sensory receptors present within the subcutaneous layers are also pain transmitters. (Watson 2011)

Background to aims

However, ...