Concept Of Cost Research Articles

ECONOMIC INTERACTIONS ON THE CONSEQUENCES OF TRANSACTION COSTS

Transaction costs arise because of contracts between one party and another, between one institution and another, between individuals and institutions and so on. The purpose of this study aims to determine the concept of costs in economic transactions in modern economic transactions. By using a research method, namely library research. The results of this study are current conditions showing that the concept of economic transaction costs is something real and is practiced in economic activities. The fact proves that economic transaction costs are an inseparable part of economic activity, besides that economic transaction costs cannot be avoided in economic activity. Anyone who carries out economic activities must be faced with economic transaction costs.

Dhokra craft: socio-economic conditions of artisans, economics and marketing challenges in Kondagaon district of Chhattisgarh state, India

Indian handicrafts have a long and illustrious history. However, the state of the artisans in India has been deplorable. Among all the bell metal crafts, one of the most ancient crafts dating back to the Harrapan civilisation. This study investigates the socio-economic conditions and marketing challenges faced by artisans. Using a sample rate of 30 per cent, data was collected through a field survey involving 100 respondents from a total of 320 artisans. In-depth interviews and focussed group discussions were conducted to gain insights. Based on existing literature, a clear concept of costs and returns is constructed and explored further. Results indicate that artisans are engaged nearly 90 days a year and earn around US $1300. Although there is a strong demand for these products in international and domestic markets, the artisans cannot cope with the production due to higher costs of raw materials and ancient production technologies. Marketing challenges in the form of intermediaries and connectivity to the markets act as significant hurdles. The study proposed a BELL model to integrate the current government programmes and cause a convergence in existing institutions to overcome the issues faced by the artisans.

Opportunity Cost: An Economic Concept That May Improve the Functioning of Federal Milk Marketing Orders and the U.S. Dairy Industry

AbstractIn the United States, over 70% of milk production is priced under Federal Milk Marketing Orders (FMMOs). A primary purpose of FMMOs is to facilitate orderly allocation of milk as a limited, perishable resource among alternative uses. Fundamental to FMMOs are the regulatory prices applicable to milk used in cheese and whey (Class III), and nonfat dry milk and butter (Class IV). This work examines a novel milk pricing method based on the concept of opportunity cost for milk used in cheese and whey. This novel method may improve the functioning of FMMOs and the U.S. dairy industry.

Economics of Lemongrass Cultivation in Jharkhand State

The present study was carried out to study the cost of cultivation and returns from lemongrass, oil bearing aromatic crop using different cost concepts, estimated from primary data collected from 75 cultivators. The cost of cultivation was calculated using operating expenses (Cost A1) at ` 51,713, while considering all types of costs (Cost C3) it reached to ` 68691 per hectare. The gross returns from cultivation of lemongrass in a hectare was found at ` 1,40,000 hectare, while net return over Cost A1 and Cost C3 was estimated at ` 71309 and ` 88287, respectively. The B: C ratio over cost A1 and cost C3 was calculated as ` 1.71 and ` 1.04, which indicated that lemongrass cultivation is profitable venture in the study area. Estimation of a regression model indicated positive and significant influence of expenditure on machine use, lemongrass slips and manures/ fertilizer on returns from lemongrass. There are two channels for marketing of lemongrass oil, i.e. (i) producer-local buyer-industry, and (ii) producer- industry. It was observed that marketing cost and price spread was higher in channel-I due to more number of intermediaries. The lemongrass cultivator can ease their marketing activities and enhance income through formation of cooperative society.

Financial Feasibility Analysis of Ghritkumari (Aloe vera) Cultivation as Farm Business Enterprise- Findings from Churu District of Rajasthan

The present study was carried out with a view to compute the cost of cultivation of Ghritkumari on basis of cost concept and measuring financial feasibility of the cultivation. Total 80 Ghritkumari cultivating farmers were selected using multistage sampling and to obtain results cost concepts were employed. The result of the study revealed that the cost A1 and cost A2 was found to be similar because the farmers cultivate Ghritkumari crop on their own land. The net present value (NPV) at 15 per cent discount rate was found to be ` 55317.16 for overall farm size. The net present value (NPV) calculated at 10 per cent and was found ` 67213.64 overall farm. The internal rate of return (IRR) was found 36 per cent on overall farm. The benefit cost ratio was found 1.17 at 15 per cent discount rate and 1.19 at 10 per cent discount rate on overall farm. Farm business income, family labor income and farm investment income was found to be ` 83143.24, ` 73909.69, ` 78589.59 highest during 3rd year of Ghritkumari cultivation, respectively. Hence more emphasis should be given to increase Ghritkumari cultivation. The government support helps in better production and marketing of Ghritkumari crop.

​Economic Analysis of Production and Marketing of Major Vegetable Crops: A Review

Vegetables are imperative to the general health of individuals, providing essential nutrients and thereby reducing risks from dangerous diseases. To study the socio-economic conditions of vegetable growers, analyse their cost of cultivation, to study the resource use efficiency and analyse the market structure and problem associated in production and marketing of vegetables. The sampling technique for investigation and analytical techniques have been explained under the sub heads: selection of the study area, sampling design and sample size, nature and source of data, analytical technique, definition of terms and concepts used and limitations of the study. The main crops grown in the kharif season were maize, tomato, capsicum and beans and that in rabi season were pea, cauliflower and wheat. The most dominating vegetables in the kharif and rabi season were tomato and pea respectively. The cost of cultivation per hectare was highest for tomato, followed by pea and cauliflower. Four marketing channels were prevalent in the study area viz., Channel-A, Channel-B, Channel-C and Channel-D. The maximum quantity of tomato, cauliflower and pea were marketed through Channel-B. The major problems faced by the growers in production of vegetables were non-availability of labours during the peak period, problems of insects and diseases, high wage rates and high chemical prices. The study gives a brief information of socio-economic conditions, crops grown, the cost concepts used, the marketing channels and the problems faced by the farmers prevailing in the various study areas.

Features of accounting for transportation and procurement costs when purchasing stocks

The authors considered the requirements of the FSB 5/2019 «Reserves» in terms of accounting organizations in the formation of the actual cost of purchased stocks. Special attention is paid to the concept and composition of transport and procurement costs, within their approximate nomenclature. The options for reflecting these expenses in accounting with the help of accounts 15 «Procurement and acquisition of tangible assets», 16 «Deviation in the value of tangible assets» and 10 «Materials», forms of primary documents used, examples of their reflection in the accounting of the organization are given, the requirements of tax accounting are considered.

Economics of Pulse Production in Bundelkhand Region of Uttar Pradesh, India: An Empirical Analysis

Bundelkhand region contributes more than half of total pulse area of the Uttar Pradesh state but the productivity is below the state average, which calls for various technological interventions, development of infrastructure and marketing strategies. This study assessed the profitability of pulse cultivation, identified the constraints and suggested policy measures using the data collected during 2016-2017 from 100 pulse growers selected from two backward districts of Bundelkhand region, namely Jalaun and Hamirpur. Growth in area, production and yield was estimated using data for 1980-2015 through compound annual growth rate and the highest growth was observed during 1980-1990 period. Modern cost concepts were used to assess the profitability of pulse cultivation and results revealed that the cost of cultivation per hectare was significantly higher in pigeon pea in comparison to gram, pea and lentil crops. The marketing charges paid by the village trader, wholesaler and retailer ranged between INR 20 to INR 40 per quintal for different crops. It was also observed that the quantum of marketable surplus and its percentage share to total production in pigeon pea, gram and lentil increased with the increase in size of land holding. The pulse production in the region faced with constraints related to production, processing and marketing. Hence, technologies and infrastructure need to be embraced through suitable policies to favour farmers, so as to maintain balance and keep the interest of both producers and the consumers.

Profitability, Resource Use Efficiency and Marketing of Potato in East Siang Districts of Arunachal Pradesh, India

The present study was undertaken with a sample size of 90 potato growers of East Siang district of Arunachal Pradesh State, India through stratified random sampling during 2019–20. The cost of cultivation was estimated based on cost concept. Cobb-Douglas production function was used as the better fit over linear form to find out the resource use efficiency of each variable input in potato production process. It was revealed that the total cost of cultivation on small, medium and large farms were ` 41604, ` 44150 and ` 44608 ha-1 respectively. Potato cultivation is highly labour intensive, as human labour contributes about 30% in Cost C3 (total cost). The gross return varied between ` 179914 ha-1 on large farms and ` 117927 ha-1 on small farms. The benefit-cost ratio varied between 3.16 to 5.63. There were many problems related to recurrent price fluctuation, high marketing, storage and transportation costs, inadequate storage facilities and lack of competitive marketing. For resource-use efficiency, the ratios of MVP to MFC were greater than one for human labour showing significant under-utilization of this resource and possibility of additional use to achieve the optimal level. Adoption of new production technology with sustained resources utilization can help farmers in minimizing the cost of production. In Arunachal Pradesh, the potato production and marketing can be improved by constructing the cold storage units in rural areas near production points, improving the market intelligence services and to make availability of the reliable information on processing and value addition, through small scale industries, FPOs and cooperatives.

Analysis of Disaster Characteristics and Measurement of Disaster Resilience in Korea

Recently, in the paradigm of disaster management, resilience is being discussed as the ability to minimize negative impacts from disasters and return to the original state after disasters. Accordingly, the core goal of the disaster management policy is also changing to minimize damage from disasters and to build a society with maximum recovery capacity based on the concept of resilience. In addition, there are various discussions about how to quantify resilience. The purpose of this study is to examine the characteristics of disasters in Korea and measure the disaster resilience cost index using the disaster resilience cost and exposure factors. Quantification of resilience is possible with the concept of resilience cost, which can be expressed as the sum of system impact and total recovery effort. In this study, the resilience cost index is measured for each province, and based on the measured resilience cost and resilience characteristics, a disaster response system suitable for the characteristics of the region is prepared.

Economic Analysis of Production of a Little Gourd (Coccinia grandis) in Central Gujarat

Background: Little gourd is important vegetable crop that provide a considerable amount of income to farm families in Central Gujarat. The present investigation was undertaken with the goal to study the cost and return in cultivation of little gourd in central Gujarat. Methods: For this purpose, primary data was collected from 100 little guard farmers from three districts namely Anand, Kheda and Vadodara and categorized according to size of holding as marginal, small, medium and large farms. To arrive at conclusion the data was analyzed with cost concepts and relevant income measures. Result: The study found that the average per hectare cost of cultivation, gross income and net income of little gourd followed an increasing pattern from marginal to large farm sizes. The input output ratio was found decreasing as the farm size increased. The study suggested that there is enough scope of enhancing net returns through increasing the scale of operations at farm level that may be achieved by organizing small and medium farmers into producer organizations. Over and above this, the farmers should be encouraged for production of export-oriented quality to further increase the farm income.

Analysis of the Quantitative Evaluation of the Public Medical and Health System Costs During Pandemic Governance: Investigation Based on COVID-19.

It is of great reference significance for broadening the research perspective of pandemic governance, improving the efficiency of pandemic governance and the credibility of the government, to scientifically measure and analyze the public medical and health system costs. This article takes the typical case “pandemic prevention and control event of S city, China” as the research background. First, the concept of public medical and health system costs during pandemic governance is defined. Then, the public medical and health system costs are embedded into the pandemic governance system, and the generation process of the public medical and health system costs in the actual situation are investigated. Furthermore, through in-depth interview, multi-case grounded theory and fuzzy subordinate function analysis, the scientific construction of the public medical and health system cost index system are completed. Finally, based on G1 method/entropy method combined with weighting and fuzzy comprehensive evaluation method, the public medical and health system costs of the pandemic prevention and control events of S city is measured. The results show the following: (1) it is important that good single dimensions and reliable indicators are embodied in the public medical and health system costs scale. Among them, the behavioral public medical and health system costs of the masses is the largest proportion of all indicators; (2) after the pandemic prevention and control event is over, the public medical and health system cost are difficult to repair, and some lagging ideas and behaviors shown by local governments lead to a continuous expansion of the public medical and health system costs associated with pandemic governance; and (3) local governments should not conceal information asymmetry. Instead, local governments should give greater freedom to other actors to deal with pandemic governance, and governance entities should cooperate with each other. This will mitigate the effect of public medical and health system costs. Corresponding policy recommendations are proposed.

A Review of Accounting for Inflation and Current Price Financial Reporting of Manufacturing Firms in Nigeria

Inflation is the most common fact of our time, the single greatest peril to our economic health. Prices of various goods and services have been rising at a very high rate. In the past few years companies have reported very high profits on the one hand but on the other hand, they have faced real financial difficulties. This is so because in reality dividends and taxes have been paid out of capital due to overstated figures of profits arrived at by adopting historical cost concept. This has led to the collapse of many businesses. Money is a measure of value and value changes from time to time so money is a function of value change. The value of a business is its earnings per share (share price). Changing value of' money has resulted in a chaos and distortion while reporting results of economic activities of business enterprises in the manufacturing firms in Nigeria. This study aimed at reviewing the accounting for inflation and current price financial reporting of manufacturing firms in Nigeria. Extant literature was reviewed and analyzed. Findings suggested that changing price level, otherwise called inflation, has a significant effect on current price financial reports of listed manufacturing firms in Nigeria. Thus, recommends that manufacturing firms should report financial statements on the basis of current prices in order to give a more realistic information of their performances.

Multi-Point Path Planning Algorithm for a Mobile Robot With Composite Moving Costs

Abstract Multi-point path planning problem is a classic problem of the mobile robot. The present research is concerned with solving the shortest path. In some realistic applications, the shortest path length is not always the significant concerned value of path planning. This article proposes an extended generalized cost concept to constitute the updated path planning strategy. The generalized costs are the combination of straightly moving and turning costs. A genetic algorithm is used to solve optimal path-planning problems. The different weight between the two kinds of costs and how the different parameters affect the optimal path solution is discussed. The generalized cost concept extends the application of path planning to diversified physical quantities. When estimating the composite optimal costs of the path planning problem, we only need to solve the path planning problem with simplex straightly moving costs or simplex turning costs.

A safety compliance model for container terminal operations: the roles of the safety climate, non-compliance cost and safety self-efficacy

ABSTRACT The safety of terminal operations is the foundation of international commercial port operations. One of the main safety issues in the ports is that operators often fail to comply with safety codes. The existing literature has shown that the safety climate, safety self-efficacy, and safety compliance each play an important role in a company’s safety management, and this paper seeks to establish a safety compliance model in the maritime context. In particular, the research introduces the concept of non-compliance cost and explores the relationships between safety compliance and the non-compliance cost, the safety climate and safety self-efficacy. The researchers conducted an empirical study at container terminals in Taiwan, and applied the Hierarchical Linear Model to analyze the empirical data. The results of this study reveal that an organization’s safety climate, non-compliance cost and the employees’ safety self-efficacy positively affect worker safety compliance. Among these factors, the non-compliance cost has a mediating effect that mediates the relationship between the safety climate and safety compliance, although the non-compliance cost does not mediate the relationship between the employees’ safety self-efficacy and safety compliance. Based on these findings, this article discusses the theoretical and practical implications for safety management.

An Economic Analysis of Technology Change in Tissue Culture and Non-tissue Culture Pointed Gourd in Anand and Kheda Districts of Middle Gujarat

Background: This paper has attempted an economic analysis of tissue-culture pointed gourd and non-tissue culture pointed gourd. As we know that vegetables are rich and comparatively cheaper source of vitamins. Consumption of these items provides taste, palatability and fiber for digestion. Their consumption in plenty provides fair amount of protein and also play a key role in neutralizing the acids produced during digestion of fatty foods. While pointed gourd contains 2 per cent protein, 0.3 per cent fat, 2.2 per cent carbohydrate, 153 IU vitamin A and 29 mg vitamin C per 100g edible portion (www.agrifarming.in). Methods: This study was conducted in the year 2017-18. The study has been conducted in the Anand and Kheda districts of Middle Gujarat using personal interview method. And 4 talukas were selected. Total 80 respondents were selected, out of them 40 were cultivating non-tissue culture and 40 were cultivating tissue culture variety of pointed gourd. Cost and return analysis had been done by using cost concepts. The Garrett ranking technique was used to study the adoption behaviour of farmers. Result: The study revealed that tissue-culture pointed gourd is more beneficial as compared to non-tissue culture pointed gourd. The cost of cultivation (Cost C2) of pointed gourd per hectare for tissue culture and non-tissue culture was ₹ 306655 and ₹ 237216, respectively. The average yield of tissue culture and non-tissue culture pointed gourd was 483 q and 248.49 q, while gross income was ₹ 597595 and ₹ 324741 respectively. Per hectare net returns in tissue culture pointed gourd for Cost C2 was ₹ 290940 whereas for non-tissue culture pointed gourd the per hectare net return over Cost C2 was ₹ 87525. The overall per hectare farm business income, family labour income and farm investment income for tissue culture farmer were found to be significantly higher compared to their counterpart non-tissue culture farmers. The overall input-output ratio on Cost C2 was 1.95 for tissue culture and 1.37 for non-tissue culture. ‘Higher yield’ was the main reason for adoption of tissue culture technology followed by ‘high quality fruit’ and ‘higher income per hectare’. On the whole, the analysis has revealed that the tissue culture technology in pointed gourd cultivation can go a long way in enhancing the farmers income which is the need of the hour.

Career calculus: Assessing the psychological cost of pursuing an engineering career

AbstractBackgroundPersonal characteristics (e.g., race/ethnicity, gender, and precollege experiences) are known to shape students' pathways to engineering, as well as persistence decisions in college. However, the role of psychological cost in postgraduation intentions has received less scholarly attention.PurposeThe purpose of this study is to examine sociocognitive factors that shape students' postgraduation intentions in the early college years. Guided by Social Cognitive Career Theory and the concept of psychological cost, we examine the role of self‐efficacy beliefs, outcome expectations, and psychological cost, as well as key background characteristics, in students' postgraduation intentions.MethodWe analyzed survey responses from four cohorts of undergraduate engineering students at a large public university. Participants responded to items measuring self‐efficacy beliefs, outcome expectations, and psychological cost after their first and second years of college. We used structural equation modeling to examine the relationships between the sociocognitive variables and students' graduate school and career intentions.ResultsThe sociocognitive variables predicting postgraduation intentions after Year 1 differed from those predicting intentions after Year 2. After Year 1, we found no statistically significant sociocognitive variables predicting graduate school intentions or engineering career plans. After Year 2, both self‐efficacy and outcome expectations were significant predictors of postgraduation intentions. The psychological cost was significantly related to both self‐efficacy and outcome expectations. Finally, we found significant differences in racial/ethnic identity, sex, and first‐generation status.ConclusionExamining psychological cost provides additional insights into the factors informing students' postgraduation intentions over the course of their collegiate careers and suggests new directions for research on students' thinking about engineering careers.

Economic Analysis of Oilpalm Cultivation in India: A Case of Andhra Pradesh State

Aim: Present study was taken up with an objective to examine the economic viability and financial feasibility of oilpalm cultivation in Andhra Pradesh.
 Study Design: Random sampling was used for the study. From each district, based on area proportionality 60 oil palm growers were selected.
 Place and Duration of Study: The present study was based on primary data collected from 8 oil palm growing districts of Andhra Pradesh. Data was collected in the year 2021.
 Methodology: To study the financial feasibility, cost concepts given by Commisssion for Agricultural Costs and Prices (CACP), profitability measures like NPV, BCR, IRR and resource use efficiency were used.
 Results: The results revealed that, the total cost during the pre-bearing period (initial 3 years) was Rs. 247831 per hectare which includes variable cost (Rs. 167267) and fixed cost (Rs. 80564). The total cost during bearing period (4th to 15th years only) was Rs. 1260177 with a variable cost of Rs. 669494 and fixed cost of Rs. 590684. The total cost (Cost C3) of Oil palm and the net returns over Cost C3 were found as Rs. 1666053 and Rs. 942092 pKer hectare respectively. The increased transportation costs of manures and non-availability of Farm Yard Manure led to the usage of more inorganic fertilizers by sample farmers. The resource use efficiency revealed that manures, fertilizers and annuity of drip system are underutilized whereas; labour and transportation costs were over-utilized.
 Conclusion: Benefit-cost ratio on variable costs and total costs was 2.98 and 1.49 respectively at 7 per cent which determines that the oil palm cultivation is financially more viable and best suited for rich, large land owning farmers. IRR was 26.01 per cent at which NPV becomes zero. The NPV, BCR and IRR revealed that oil palm cultivation was economically viable in Andhra Pradesh.

Unit costs of a community-based girl-centered HIV prevention program: a case study of Determined, Resilient, Empowered, AIDS-Free, Mentored, and Safe program.

We compare the unit costs of providing Determined, Resilient, Empowered, AIDS-Free, Mentored, and Safe (DREAMS) interventions to adolescent girls and young women (AGYW) reached across two sites, an urban (Nyalenda A Ward) and peri-urban (Kolwa East Ward) setting, in Kisumu County of Kenya. Micro-costing, using the average cost concept during project initiation and early implementation. Adopting the implementer's (provider's) perspective, we computed and classified costs in the following categories for each sub-implementing partner: medical and professional staff, administrative and support staff, materials and supplies, building space and utilities, equipment, establishment, and miscellaneous. These costs were summed across sub-implementing partners in a site to obtain the site-level total costs. These are then divided by the total number of AGYW reached in each site to obtain the unit costs. Data were collected from July to September 2017. The unit costs in the peri-urban area were about 1.9 times of those in the urban area. It cost about US$67 [or 170 International Dollars] to deliver the DREAMS intervention package to each AGYW reached in the urban area as compared with approximately US$129 (or 327 International Dollars) in the peri-urban area. First, it was generally more expensive to deliver DREAMS interventions in the peri-urban setting as compared with the urban setting. Second, the difference in unit costs was mainly driven by the building space and utilities. Strategies to lower intervention costs are needed in the peri-urban setting, such as using existing infrastructure (either governmental or nongovernmental) or other innovative ways to deliver the services.

An Alternative to Conventional Rice: Direct Sowing with Drum Seeder

Objective: The current study is to compare the economics of rice cultivation by Conventional method (CR) versus Direct sowing with drum seeder (DSR) and to rank the constraints faced by DSR adopted farmers.
 Methods: Cost concepts were used for comparative economic analysis and Garrett ranking technique was used for analysing the constraints faced by the DSR adopted farmers. The present study was conducted in Nalgonda district of Telangana with sample of 80 farmers.
 Findings: Direct sowing with drum seeder was proved to be cost effective and profitable compared to conventional rice cultivation. Cost C2 of DSR (81518.9 Rs./ha) was lower than Cost C2 of CR (87535.4 Rs./ha). Net returns of DSR (44839.2 Rs./ha) was higher when compared to CR (41784 Rs./ha).
 Conclusion: It is evident from the results of the economic analysis and the feedback received from the farmers that, direct sowing of rice with drum seeder with proper weed management was feasible and most practical alternative for the farmers to go for rice cultivation in the event of uncertain monsoon, increased cost of cultivation and labour shortage besides resource optimization in Telangana state. Therefore, DSR is considered to be the best alternative for rice cultivation addressing the issues of conventional system.