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Job Order Costing - Department Cost Allocation
Job order costing allocates costs to jobs. Processing costing allows for the allocation of costs to a department.
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Marketing Changes Over Time - Sales
This Video Explains Marketing Changes Over Time - Sales
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Marketing - Vertical Integration
This Video Explains Marketing - Vertical Integration
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Manufacturing Functions - Explained
What are Manufacturing Functions? Functions related to manufacturing operations may include the design and development of production lines, purchasing raw materials and components, selection of raw material suppliers and subcontractors,...
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Marketing - Measuring Environmental Impact
This Video Explains Marketing - Measuring Environmental Impact
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Manufacturing Firms - Importance of Unit Costs
Unit cost is an important metric for manufacturing firms to judge efficiency, profitability, and pricing
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Managerial Grid (Management Grid)
Managerial Grid, Management Grid. The managerial grid model is a self-assessment tool by which individuals and organizations can help identify a manager's or leader's style.
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Introduction to Object Costing and its Benefits
In this educational video, we delve into the concept of object costing. The video explains various types of object costing, such as output-related costing, operational objects, and business relationship costs. By understanding the costs...
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Mixed Costs vs Step Costs
Mixed costss are a combination of fixed and variable costs. Step costs are consistent costs that step up and remain constant over a range.
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Requirements Contracts and Output Contracts
Requirements Contracts and Output Contracts
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Product Cost Components
The components of product cost include direct and indirect costs, including materials, labor, overhead, and consumption.
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Process Costing
Process costing concerns assigning the cost of produciton of a product on a per unit basis to a specific period. There are multiple steps in the process and means of allocating costs.
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Standard Product Costs
Standard costs are used to estimate what will be the Cost of Goods Sold or COGS.
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Socialism
Socialism is a political philosophy and movement encompassing a wide range of economic and social systems which are characterised by social ownership of the means of production, as opposed to private ownership.
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Variable Overhead Analysis
This video provides an overview of variable overhead analysis, its importance in decision making and budgeting, and the metrics used to measure and analyze these costs.
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Activity-Based Costing - Types of Activities
Activity-based costing identifies numerous categories or types of activity to which costs are allocated. This video explains the the types of activities employed in activity-based costing.
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Introduction to Weighted Average Costing
This video explains the concept of weighted average costing and how it is used in assigning the average cost of production to a product. The teacher highlights that this method is efficient when inventory is commoditized and all units...
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Value Streaming Map - Explained
What is the Value Streaming Map? Value stream mapping is a technique — developed from Lean manufacturing — that organizations use to create a visual guide of all the components necessary to deliver a product or service, with the goal of...
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Team Tasks
What are Team Tasks? Production Tasks - This means creating or delivering something, such as a product, service, plan, etc. Idea Generation Tasks - Creative tasks, such as idea generation or process refinement. Problem-Solving Tasks -...
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Ch8. Video 9 - Units-of-Production Method example
Units-of-Production Method example
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Capitalism
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, price systems, private...
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Business Plan - Operations
What is the Operations section of the Business Plan? What should be included? The operations section of your business plan is where you explain – in detail – you company's objectives, goals, procedures, and timeline. An operations plan...
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Cost-Volume-Profit Analysis - Operating Income
The Cost Volume Profit Analysis yields the number of units needed for an operation to break even. At break even, the operating income is zero.
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Cost Strategy (Low Cost Production)
Low-cost strategy enables the firm to sell its product/service with a lower price compared to its competitors because of lower costs of producing products/service; as a result of this, they win a competitive advantage in the industry.