Sumary critique on Williams, J. (2006, Summer2006). Debt Education Assignment

Sumary critique on Williams, J. (2006, Summer2006). Debt Education. Dissent - Assignment Example With the high tuition, fees and interest rates on students’ loans, the author notes that higher education may soon be left to the rich (Williams 54). The author also notes that this debt should not only be treated as a way of financing the students but also as a form of teaching. From the lessons learnt from the student debt, the author proposes that the best way would be to do away with the current system of student debt and move to direct lending controlled by the federal government to colleges (Williams 53-59). The author clearly explains and shows the significance of debt to the students and their families. The author provides credible evidence to show how majority of American populace depend on the student debt to finance their higher education. Education is a necessity and it is for this reason that the author provides sufficient support to the point that people should not pay back for a necessity (William 57). The author also tries to show how student debt has immensely changed over the past decades. In addition, the author shows that the student debt serves more as a teaching mode than as a financing mode. It teaches us that higher education is a consumer service, teaches us career choices, comprehensive view of the world and human life, civic lessons, and the worth of an individual (Williams 56-58). With this, the author tries to answer to the question ‘why student debt should be scraped off and shift to federal government lending’. Moreover, the author has used signific ant terms such as draconian, pedagogy and worldview. However, though the author gives an outstanding proposal, he fails to understand and explain that financing of higher education by the federal government means an increase in taxes, which would be borne by the American Citizens. Increase in taxes would result to increased prices of items, and the poor would again be on the suffering end. In addition, the author fails to give support on why

Management accounting Assignment Example | Topics and Well Written Essays - 1750 words

Management accounting - Assignment Example 235 Â   Fixed overhead volume efficiency 378 Â   Fixed overhead volume capacity 516 Â   Â   ----------- ----------- Â   Â   2129.1 325.5 Â   Â   (2129.1) Â   Â   ---------- Â   Â   (1803.6) Â   Â   Â   Â   Â   Â   ------------ Computation of the Unit Cost Units (Kg/Number of labour) Total cost (?) Per unit cost (?) Total Production (units) Units required for actual Standard production Units required for Standard Direct Material M3 1050 1680 1.6 2100 0.5 2130 1065 Direct Material M7 1470 2793 1.9 2100 0.7 2130 1491 Labour 525 3675 7 2100 0.25 2130 532.5 Variable production overhead 1260 2100 based on labour hours 2130 532.5 Fixed production overhead 4725 2100 based on labour hours 2130 532.5 Profit calculation of actual units: Sales (2100 x ?14.5) ? 30,450 Direct Material M3 (? 1,680) Direct Material M7 (? 2,793) Direct Labour (? 3,675) Variable production overhead (? 1,260) Fixed production overhead (? 4,725) Net Income 16,317 Profit calculation of budgeted profits: Sales (2130 x ?15) ? 31,950 Direct Material M3 (1065 x ?1.55) (? 1,650.75) Direct Material M7 (1491 x ?1.75) (? 2,609.25) Direct Labour (532.5 x ?7.2) (? 3,834) Variable production overhead (532.5 x ?2.1) (? 1,118.25) Fixed production overhead (532.5 x ?9) (? 47922.5) Net Income ? 17,945.25 From the detailed analysis of the computations of the operating statements and the information provided by the company, it is evident that the company is producing and selling units less than its budgeted figures show. The variance analysis is the most commonly used tool for evaluating the performance of a business by comparing its costs and revenues against the industry standards (Needles, Powers & Crosson, 2011) and ensure that right steps are taken for any kind of deviations or variances so that it can make necessary changes and reap...The main components of this statement are sales, cost of goods sold and expenses; the primary areas of focus are the revenue amount and expenses amount (Slater , 2012). Every organisation tries to keep a tight control on its expenses so that it can fulfil the requirements of its business effectively. Being a cost effective organisation allows the organisation to maintain a strong financial position and also with their savings they can work upon other business strategies such as expansion strategies and forming business units. For instance, if the equipment maintenance cost is increasing, then it can consider replacing it with a new one (Hansen, Mowen & Guan, 2009). Replacing with a new one may seem a heavy expense initially but when compared to the replacement costs on a constant mode, buying the new equipment would be a cost effective choice. In every business, there are two main classifications of costs or expenses i.e. variable and fixed costs and they need to be adequately monitored so that sufficient amount of profit can be earned (Tulvinschi, 2010). All costs and expenses in the business need to be carefully recorded and analysed so that further decision making is according to the current financial scenario of the business. In the manufacturing business like Ash PLC, the variable cost is of utmost importance as it has to ensure that it can produce the units according to the industry standards and within its budget range.