Full Cost Research Articles

Comparative study on four autocascade refrigeration cycles based on energy, exergy, economic and environmental (4E) analyses

As known, insufficient component separation of zeotropic refrigerant and massive throttling losses are two major causes for the poor performance of autocascade system. Aiming to combine the benefits of applying two-stage component separation to improve the component separation efficiency and applying ejector to recover partial expansion work, a novel ejector enhanced autocascade refrigeration cycle with two-stage component separation is proposed. The comparative study on the novel cycle and other three autocascade refrigeration cycles are conducted by simulation method, based on energy, exergy, economic and environmental analyses method. The simulation results show that the novel cycle always yields remarkable performance advantage. Under the given condition, the novel cycle respectively improves the coefficient of performance and cooling capacity by 40.8% and 60.8% compared with the convenient autocascade refrigeration cycle. Furthermore, the exergy performance and irreversibility distributions of four cycles are compared. Moreover, the performance variation of the novel cycle with main operation parameters is simulated to investigate the cycle characteristics. The novel cycle achieves the longest payback period of 2.27 years and produces the lowest full life cycle cost of 5268 $, when applied in a low-temperature freezer. Meanwhile, the novel cycle remarkably reduces the carbon dioxide and air pollution emissions.

Direct medical charges of all parties in teen-involved vehicle crashes by culpability

BackgroundMotor vehicle crashes among teen drivers often involve passengers in the teen’s vehicle and occupants of other vehicles, and the full cost burden for all individuals is largely unknown. This...

Evaluating the landscape of discount and patient assistance programs for topical sunscreen products in the United States

The use of topical sunscreen plays an important role in dermatologic care through mitigation of ultraviolet-mediated damage and prevention of cutaneous malignancy. 1 Moloney F.J. Collins S. Murphy G.M. Sunscreens: safety, efficacy and appropriate use. Am J Clin Dermatol. 2002; 3: 185-191https://doi.org/10.2165/00128071-200203030-00005 Crossref PubMed Scopus (109) Google Scholar Despite preventive health benefits, sunscreen is regulated as an over-the-counter product for which consumers typically bear the full cost. Besides tax-advantaged saving plans, samples from physicians’ offices and nonprofit organizations, free sunscreen dispensers, and retail discounts, patients have limited means to reduce the financial burden when purchasing sunscreen compared with that when purchasing prescription drugs. For patients requiring year-long use of sunscreen (eg, those with xeroderma pigmentosa and solid organ transplant recipients), the estimated annual cost is US $292, which may add to health disparities. 2 Mahé E. Beauchet A. de Maleissye M.F. Saiag P. Are sunscreens luxury products?. J Am Acad Dermatol. 2011; 65: e73-e79https://doi.org/10.1016/j.jaad.2010.06.043 Abstract Full Text Full Text PDF PubMed Scopus (19) Google Scholar Patient assistance programs (PAPs) can increase patient access to needed medications. 3 Johnson P.E. Patient assistance programs and patient advocacy foundations: alternatives for obtaining prescription medications when insurance fails. Am J Health Syst Pharm. 2006; 63: S13-S17https://doi.org/10.2146/ajhp060464 Crossref PubMed Scopus (22) Google Scholar To this end, we sought to evaluate the current landscape of discounts and PAPs for sunscreen in the United States.

Cooldown of a water-cooled reactor during the natural circulation mode using decay heat of the core and a low-power steam turbine

The Fukushima-1 nuclear power plant accident in 2011 confirms that NPP safety is one of the most urgent present-day problems. Moreover, a rapidly growing number of NPP units increases the risk of serious radiation accidents. The authors have developed a novel cooldown method for water-cooled reactors to be used under loss of connection with the power system using decay heat from the core and a low-power steam turbine. A distinctive feature of the method is financial viability of the steam turbine due to its possibility to generate additional electricity at the normal conditions of NPP operation. The aim of the invention is to ensure a high level of NPP safety while maintaining and increasing commercial efficiency and competitiveness of nuclear power plants. To implement the developed method, it is necessary to provide guarantee for reliability of NPP units at natural circulation of the primary coolant, since the primary circulation pumps will be shut off caused by a trip of a reactor. For this reason, the authors carried out an investigation into international practice theory and actual usage of natural circulation of water-cooled reactors. Experiments conducted at Kozloduy NPP and research of a number of scientists demonstrate a possibility to maintain constant decay heat removal that will ensure obtaining steam with stable parameters in the secondary circuit. The second part of the research deals with a new method aimed at beneficial usage of steam obtained by using the decay heat from the core under natural circulation of the primary coolant. The generated steam can be used in the additional low-power steam turbine to power supply the NPP's auxiliary needs. In our earlier research we performed a preliminary assessment of reliability of the developed system. The results of the research showed that a combination of a steam turbine and a standard three-channel emergency power supply system with diesel generators enables a safety level comparable to that of external heat exchangers in the passive heat removal systems. At the same time, passive heat removal systems require significant capital investments and maintenance costs, whereas according to the method developed by the authors, a low-power steam turbine can operate in the normal regime to generate additional electricity, as well as in combination with energy storage systems. This will ensure full cost recovery of the developed installations. To assess a reduction of risks of nuclear accidents in terms of cash equivalents when using the novel method, the authors analyzed the influence of various factors on damage expectancy in case of an accident at NPP, based on the example of Fukushima and Chernobyl NPPs. The investigation showed that a reduction of nuclear accident risk in terms of cash equivalents, when implementing the authors’ method aimed to supply the auxiliary NPP needs in blackout situations, reaches tens of millions of US dollars per year.

True Cost Accounting and Social Entrepreneurship as Key Factors for a New Food System

The paper aims to understand the problems of the food system, identify the value of food, and the role of social entrepreneurs in changing the status quo. Based on this objective, this documentary and descriptive work present a first approach to understanding the food system, and the search for solutions to measure the value of food and its key actors. The methodology was a documentary search on the world food crisis, true cost accounting, and social entrepreneurship

Setting out a path to the future

There are significant concerns about current UK activity in Research, Development and Innovation (RDI) We should build on current structures – ‘revolution through evolution’ UK investment is well below the OECD average More focus needs to be placed on full funding costs Permeability between different research institutes should be increased.

Uncrewed surface systems facilitating a new era of global ocean exploration

There is growing recognition that key to addressing critical issues like climate change, global sea level rise and the long-term sustainability of humankind is a more complete understanding of our oceans and processes within them that account for the distribution of global heat, CO2 and provide sustenance to so many. Yet, despite years of effort, less than 25% of the global ocean seafloor has been mapped and less than 5% of the ocean volume explored, likely due to the cost and inefficiency of traditional ocean mapping and exploration techniques using large, very expensive, crewed research vessels. Recent advances in the development of uncrewed surface vessels offer the possibility to reduce costs and increase efficiency of ocean mapping and exploration. Such efficiencies can be gained by using small mother ship-deployed uncrewed vessels acting as relatively inexpensive mapping and sampling force multipliers or the use of small uncrewed vessels launched to from a mother ship to monitor and control autonomous underwater vehicles, allowing multiple operations simultaneously and “verified, directed sampling”, all while freeing the mother ship for independent operations. We are also seeing the development of larger uncrewed vessels launched from shore with long-endurance and range, capable of carrying a full suite of deep ocean mapping and exploration tools. All of these systems and approaches offer great hope but it is very early in our understanding of their full capabilities, costs and limitations and we must be careful not to overpromise, leading to disappointments and early abandonment of a potentially innovative approach, while at the same time maintaining the patience required to continue the research, investment and innovation that will hopefully bring us to a new world of efficient and effective ocean mapping and exploration that will allow us to meet our goal of complete coverage of the ocean.

Exploring the construction of an all-round cost management system for investment control in university engineering construction

Abstract In recent years, the investment amount of university engineering construction has been increasing significantly, and the establishment of scientific and reasonable cost management system has become particularly important in the investment control of engineering construction. This paper explores the investment control of university engineering construction and designs the basic framework based on three parts: whole process cost control, full caliber cost audit and full gradient grading management. With the help of BIM, we build a cost management system, which is divided into the planning stage, bidding stage, mid-construction, until the completion of the collation of cost data, extraction and preservation of cost indicators. After establishing a full range of cost management systems, the adjacency matrix X algorithm and functions are used to calculate. The experiment proves that: the investment estimate before the project construction affects more than 75% of the overall investment, and the all-round cost management system built based on BIM can make the investment estimate accurate and stable at 75%, and the negotiation change rule based on this is to save nearly 25% of the investment funds. The comprehensive cost management system has a comprehensive and detailed grasp of the cost process of specific construction projects and specific issues during construction, fully protecting the university’s investment interests.

Analysis of tariff adjustment for clean water usage

This study aims to assess the water supply company’s tariff modification under various circumstances. To evaluate the financial situation if no tariff modifications were made, the study first conducted an examination of the existing financial data. A tariff adjustment scenario is also run through an investment feasibility test and until it reaches the full cost recovery (FCR). A variety of scenarios for tariff adjustment were run, each one with a different percentage increase in tariffs and a different time period for the increase in tariffs. These scenarios were based on the findings of the analysis done on the water demand and the adjustment of water usage tariffs at PDAM Tirta Musi Palembang. This hypothetical situation demonstrated how higher tariffs will affect the company’s ability to increase revenue. To sum up, this study has offered a framework about tariff adjustment under various alternatives, and examples of successful and unsuccessful pricing strategies in the local water company.

AN APPROACH TO ANALYSIS OF THE IMPACT OF NATURAL DISASTERS ON THE ECONOMIC EFFICIENCY AND PROFITABILITY OF BUSINESS

Abstract. The paper purpose is to propose an approach to the analysis of the impact of various natural disasters (intense rainfall, extreme high or low temperatures, droughts, strong storms, floods, earthquakes and others) on the economic efficiency and profitability of the business. In this study, more specifically, the business companies in the sphere of production, trade and services are considered. These companies generate net income from sales of production, goods and services. In view of the successful development and sustainability of these companies, it is necessary to analyse the variations in specific ratios of two of the main business indicators (economic efficiency and profitability) under the influence of different natural disasters. The ratios related to the indicator of economic efficiency and profitability are calculated as the corresponding net revenues or profits from sales (of production, goods and services) are divided by one of the following variables: sum of the average balance values of current or fixed tangible assets, incurred full costs of the activity or other. Numerical results of several applications of the proposed approach with particular values of the variables that are included in the expressions describing the two business indicators are presented. The results of the analysis of the calculated values of the ratios related to the two business indicators (economic efficiency and profitability) before and after the possible occurrence of a given natural disaster can successfully support decision-making financial managers to take adequate measures to reduce the potential negative consequences, recover the normal operative activity or increasing resilience of companies.

Full‐cost accounting and redefining the cost of food: Implications for agricultural economics research

AbstractFood systems have significant externalities that are not reflected in market prices. A first step to correct parts of these externalities is to make them transparent through “true‐” or full‐cost accounting. Estimates of the external health and environmental costs of food systems at a global level suggest that they may be about two times larger than food valued at market prices, that is, about 20 trillion US$ of externalities versus 9 trillion US$ of food value in the markets. The agricultural economics profession is challenged to move the true cost research agenda forward by identifying realistic pathways for internalizing some of the large food system externalities. Moving from true cost accounting (TCA) to policy action needs to involve citizens and policy‐making bodies because internalizing externalities requires buy‐in. This relates for instance, to policy instruments such as product labeling, nudging, and differential taxes and subsidies to incentivize healthy diets and disincentivize food waste. Agricultural economics will need to accompany the implementation of any true cost approaches with scrutiny in terms of the efficiency, welfare, ecological, and distributional effects of such policies.

The economics of reducing food losses: Experimental evidence from improved storage technology in India

Understanding the economics of food loss-reduction technologies is crucial to promote their adoption. We offer experimental evidence on returns to technology that studies a wide range of food security outcomes and accounts for the quality, quantity, and economic gains from adoption. Using two randomized experiments on improved storage with farmers in India, we find that food loss-reduction technology delivers large gains on multiple aspects of food security. The largest benefits of loss-reduction technology come from reduced quality and economic losses. Using a novel within-farmer experiment, we offer evidence of significant economic incentives for investing in loss-reduction technology in local rural markets. Our cost-benefit analysis shows that farmers recover the full unsubsidized cost of the reusable improved storage technology in one agricultural season.

True cost accounting of organic and conventional food production

Agriculture is one of the world's biggest polluters. Consumers are misled towards demand of unsustainable and inadequately priced food products by an insufficient internalization of externalities. Shifting demand towards more sustainable dietary choices can lead to a sustainable transition of agri-food networks. In this study, we evaluate environmental damage economically: we combine environmental assessment of different food products with the internalization of their monetary impacts. Life Cycle Assessments are modeled for conventional and organic foods and different production scenarios. The quantified environmental impacts are combined with True Cost Accounting to adjust food prices according to their environmental impacts. Using this framework for 22 German agricultural products, we find that on average, crop production generates externalities of about €0.79 per kg for conventional and about €0.42 for organic products. Conventional milk and eggs cause additional costs of about €1.29 per kg on average in organic systems and about €1.10 in organic ones. Conventional and organic meat generate externalities of €4.42 and €4.22 per kg, respectively, with beef generating the highest costs of all. The environmental favorability of organic products is confirmed, but the resulting organic market prices after internalization still exceed conventional prices. Externalities represent a negative impact on societal welfare, which should be addressed by policies supporting transparent pricing approaches.

Filling the gap: A comparative analysis of stormwater utility fees and stormwater program budgets in the Puget Sound watershed

AbstractStormwater utility fees (SUFs) are one way to fill the growing gap between stormwater management needs and available funding. However, there is a lack of data on the overall role they play in stormwater program budgets. This paper presents an evaluation of SUFs across multiple jurisdictions to understand their contributions to overall revenue, the uses of revenue, and the extent to which ratemaking is equitable within and between jurisdictions. We compiled data on SUFs for 124 jurisdictions and program budgets for 80 jurisdictions to describe the composition of revenues and influence of municipal stormwater permit status. We also calculated SUFs applied to individual parcels in 11 jurisdictions to assess two equity outcomes: proportionality and affordability. Results indicate that SUF revenue contributed 91% of the $537.7 million in total 2019 stormwater program operational revenue. There was enormous variation among jurisdictions in annual SUF revenue per capita ($17–328), per housing unit ($42–1007), and on an area‐normalized basis (<$0.01–2.70 per ft2 impervious surface). SUFs in some cities were large enough to burden low‐income households, and the way they are billed may preclude assistance for renters. In the context of escalating costs driven in part by new regulatory requirements, these results illustrate the tension between achieving full cost recovery for stormwater services and ensuring prices are affordable for ratepayers.

Evaluating the hidden costs of drinking water treatment technologies

Drinking water treatment technologies are largely evaluated on the basis of metrics such as contaminant removal efficiency, capital costs and health impacts. However, the potential for safe water technologies to lead to positive health outcomes depends greatly on user satisfaction, consistent and sustained operation, and financial viability. In this Perspective, we argue for the importance for engineering, public health and economics researchers to assess the ‘hidden’ costs of drinking water treatment technologies, including affordability, labour burden, user acceptance, and the (often) gendered nature of these. Neglecting these factors results in an underestimation of the full costs of drinking water treatment technologies and an overestimation of the potential for treatment options that require substantial behaviour change and time to succeed. Here we present a set of user-centric evaluation criteria for water service providers, practitioners, governments and other stakeholders to consider when deciding which drinking water treatment technologies to implement, scale up or take to market. Drinking water treatment technologies are typically evaluated on the basis of narrow evaluation criteria, such as contaminant removal efficiency. This Perspective proposes additional user-centric criteria to evaluate the hidden and often gendered costs of water treatment technologies, including affordability, labour burden and user acceptance.

Full cost of diagnostic pathology for lung carcinoma in Italy: results from four Pathology Units.

To calculate the full cost of diagnostic pathology tests for Non-Small Cell Lung Cancer (NSCLC) across four Italian Pathology Units. Pathology Units were located in private (2) and public (2) hospitals distributed across the Italian territory (North: 2; Centre: 1; South: 1). Pathologists provided via questionnaire data on tests on NSCLC samples along with the identification and quantification of the necessary healthcare resources (diagnostic technologies, laboratory instruments and personnel). Resources were valued according to hospital-specific unit, yearly and hourly costs (disposables; technologies; professional clusters). The full cost per NSCLC tissue sample included histopathological immunophenotypic and required molecular analysis. Overall, it reached € 659.77 and it was mainly composed of direct costs (77.69%). The processing of a NSCLC tissue sample was labour intensive, as a relevant share of the full cost (44.98%) was actually due to personnel costs, with laboratory technicians, biologists and pathologist driving this finding (17.09%,12.43% and 10.81%, respectively). The results of this research can facilitate the negotiation of new dedicated tariffs for NSCLC sample processing with the national or local third party-payers.

Risk mitigation services in cyber insurance: optimal contract design and price structure

As the cyber insurance market is expanding and cyber insurance policies continue to mature, the potential of including pre-incident and post-incident services into cyber policies is being recognised by insurers and insurance buyers. This work addresses the question of how such services should be priced from the insurer’s viewpoint, i.e. under which conditions it is rational for a profit-maximising, risk-neutral or risk-averse insurer to share the costs of providing risk mitigation services. The interaction between insurance buyer and seller is modelled as a Stackelberg game, where both parties use distortion risk measures to model their individual risk aversion. After linking the notions of pre-incident and post-incident services to the concepts of self-protection and self-insurance, we show that when pricing a single contract, the insurer would always shift the full cost of self-protection services to the insured; however, this does not generally hold for the pricing of self-insurance services or when taking a portfolio viewpoint. We illustrate the latter statement using toy examples of risks with dependence mechanisms representative in the cyber context.

Penentuan Laba Produk Rumahan Lemper dengan Pendekatan Full Costing

This research aims to calculate the cost of production based on the cost of the process using a full costing approach, and determine the profit to be obtained. The research was conducted at Lemper X Home Industry in Bandung. The type of data taken is in the form of qualitative and quantitative data, sourced from primary data and secondary data through interviews and documentation. The secondary data is in the form of library research. The results of the study show that the full costing approach can determine the cost of production based on the cost of production and the amount of profit earned. However, because there is no comparison of the results of production costs with the calculation of the variable costing approach, it is not yet known whether the information regarding the determination of profit is appropriate. No calculations were made using the variable costing approach because there were limitations in terms of variable cost data. Therefore, this research recommends that the cost of production is also calculated using the variable costing approach so that the calculation of the cost of production can be obtained which is more in accordance with the needs and can determine the appropriate profit. Thus the company will also get more accurate and precise information, in determining profits and in terms of costs where it is possible to deduct both costs of process and costs of order and in determining the appropriate approach to costs of process and costs of order.
 
 Keywords: Cost of Orders, Cost of Processing, Full Costing, Profit, Variable Costing.

Analisis Perhitungan Harga Pokok Produksi Dengan Metode Full Costing Sebagai Dasar Penentuan Harga Jual (Studi Kasus Ayam Gepuk Pak Gembus Karawang)

The problem under study this is an analysis of production cost accounts to determine sales price of gepuk pak Gembus Karawang chicken. The research objective is to compare the selling price with company's full cost method. The purpose of this study is to find information about the difference in selling prices between business processes and estimated total costs. Therefore, the research method is qualitative. The data source from which the researcher obtained primary and secondary data using various data collection methods such as interviews, observation, documentation and literature analysis. The results of this study are the price of Pak Gempuk Chicken which is sold for 21,000. However, profits increase under the full cost method. After analyzing the calculation of production costs using the enterprise method and the full cost method, it was found that the calculation of production costs is approx, the gepuk pak Gembus chicken business as the objct of research still uses very simple calculations, even though it is still not detailed. Compotents calculated using the company's method on the gepuk chicken business Pak Gembbus Karawang.

Can an energy-only market fully remunerate investment? Empirical evidence since 2005

The challenges of relying upon the Energy-Only Market (EOM) to remunerate power plants have been widely discussed. However virtually no empirical information is available showing what percentage of fixed costs have been recovered from the wholesale market alone in the European Union (EU). This paper presents the results of a detailed investigation into the cost recovery for thermal, nuclear, and renewable plants in France and Germany (representing 37% of the EU market) between 2005 and 2019. It shows that only second-generation nuclear plants recovered their full costs; the average level of cost recovery was 40% for combined-cycle gas turbines (CCGTs), 55% for coal plants, 30% for wind plants and 60% for utility-scale solar plants. As an alternative means of profitability determination the internal rate of return (IRR) was estimated. It was negative for CCGTs and wind plants; coal plants recorded a level of 2–3%, nuclear plants 7–8% and PV plants 0–2%, and should be compared with a typical utility cost of capital of 7%. The results are important for future market design and show that without changes, investment relying on the wholesale market alone in both renewable plants and dispatchable plants needed to accompany them will be difficult.