Greggs are in the Tertiary sector as they sell you a product they cook for you in store, some might say that they are also in the secondary sector as they make their pastries in store, but they don’t. Greggs has all their food pre-made and they just heat it up for you. Greggs are selling you a product e.g. pastries that gives you value and quality that you don’t have to make yourself. In this case Greggs is owned by Ian Gregg, John Gregg’s son who started the business in 1939 delivering eggs and yeast on his pushbike.
--- When new technology for the more efficient production of peanut butter was implemented, the supply curve for peanut butter shifted to the right --- You choose to complete your homework rather than watch television so that you can earn a good grade. You made the choice with the lowest opportunity cost --- Magola makes baked goods for a living. She and a friend buy the ingredients, follow Magola's recipes, and sell cakes and cookies to neighbors. Cookies and cakes is the answer to which economic question(s)? What to produce?
It has resulted in a major drop of workers being late, which makes for better productivity throughout my department. I would like to outline two of the more important contributions I have made to this company. This will go possibly further than anything to support my request for a pay raise. First of all, I completely rebuilt the payroll process and changed the pay period from weekly to bi-weekly, which saves the company money in many different ways. There will be half as many paychecks that have to be prepared per year now.
Running head: COSTING METHODS PAPER Costing Methods Paper Jane Doe University of Phoenix Accounting ACC/561 Barbara Kantor November 27, 2012 Costing Methods Paper Super Bakery, Inc. was founded by Franco Harris, formerly of the Pittsburgh Steelers, in 1990. The corporation supplies healthy, vitamin enriched doughnuts and other baked goods, out of an initial desire to make a difference in the institutional food market by targeting school systems nationwide (Kimmel, 2009). While, the company experiences positive growth since its inception, Super Bakery is at the point where it needs to explore a costing system that can establish a more accurate product costing method that can, at minimum, improve control of overhead costs. What strategies did the management of Super Bakery, Inc. use? Formed as a virtual corporation, Super Bakery designed a business model that performs key strategic planning and business functions in-house while outsourcing all manufacturing components as a cost reductions strategy.
We will gain significant operational efficiencies in this manner. Attempting to staff all these positions as employees would require significant resources to provided services that are not core to our business. These services, because we do not consume these services consistently or in large quantities, are significantly more costly than if we procure the services from a company that specializes in the required services as the services are needed. Specializing on the company's "core competencies" has provided cost savings and other operational efficiencies for both us and our business
Home Depot´s balance sheet shows that they reduce their existing liabilities and long-term liabilities. By eliminated up to $1.7 billion in short term debt, Home Depot efficaciously condensed the amounts of payable income just short of a billion dollars. By effectively doing that moving forward Home depot will have less liability hence creating less expenses which is less turmoil for the company to get through trying times. Additionally, Home Depot when at a substantial point when net earnings drop recorded a $63 million dollar upsurge in stock holder´s
Our company reported a net loss of $30,000 due mainly to operating expenses and product costs that exceeded our projections. We are currently working on several initiatives that we believe will significantly reduce our costs relative to our sales. Despite negative net income which reflected a negative free cash flow, our company was able to generate $420,000 through investing activities from supporters such as you. This allowed us to make necessary purchases of essential equipment and fixtures that will be used to create a production line that will allow us the needed production capacity to support our anticipated increased sales. Corporate Actions We have successfully completed the initial set-up of our company and can now focus on achieving profitable operations and sustainable growth.
Sadly, this company had a lot of factors working against them when the quarter came to an end. The reason that companies budget is to help ensure that money is being spent properly and to help track where future profits and losses may occur. The unexpected decrease in revenue can be factored into many different areas. One main factor of loss is due to the internet being down for 7 days causing the company to potentially have lost 7.7 percent of it’s customers and an estimated $10,00 in profit for this quarter. Factor number two is the company offering free shipping to orders over $100.
Minimum wage increases an individual annual salary, bumping the employee into a higher marginal tax bracket. But positive effects from minimum wage increases are usually erased through higher marginal tax rates. Employees may also face a reduction in working hours. Businesses attempting to lower operating costs often reduce employee hours to save on payroll expenses.
There are several parallels that lead us to believe that history may be repeating itself. Today’s U.S. economy is producing 2.2% more goods output then before the economic recession started in the late 2000’s, but with 3.8% fewer workers. This can be attributed to our modern day recession stimulating huge productivity and efficiency gains as business let mediocre employees go to save on labor costs. They have learned to do more with less. Unemployment rates were steadily on the rise just a few months ago and corporate profits are at all time highs.