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An Essay On How To Save Money
How i save money essay
How i save money essay
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Basic Research Techniques
Data Analysis & Research Techniques
Currently, the organization operates two buildings approximately 3 miles apart with a combined operating cost of $256,100 per year. These operating costs include lease expense, garbage and recycling services, security, janitorial, taxes, power, water and sewer, insurance, gas and printed materials. These costs could be reduced if the company were to consolidate into one facility.
Table 1. Cost Comparisons
Item Building A Building B Subtotal A&B Unified Building C
Lease $32,000 $12,000 $44,000 $40,000
Garbage $8,000 $5,000 $13,000 $9,000
Security $4,000 $4,000 $8,000 $4,000
Janitorial $6,000 $6,000 $12,000 $8,000
Taxes $8,000 $8,000 $16,000 $8,000
Power $52,000 $41,000 $93,000 $70,000
Water & Sewer $16,000 $12,500 $28,500 $22,000
Insurance $5,000 $5,000 $10,000 $7,000
Gas $13,000 $11,000 $24,000 $23,000
Printed Materials $3,800 $3,800 $7,600 $5,000
Totals 147,800 108,300 $256,100 $196,000
cost per sq. ft (mo) $5.68 $5.55 $5.63 $5.16
Number of Employees 80 40 120 117
Total Sq. Ft. 26,000 19,500 45,500 38,000
As shown in Table 1, the total operating cost for the consolidated facility would be $196,000 per year. Each employee requires at least 200 square feet (True Cost), but the need for public spaces such as hallways, kitchen area, restrooms, etc. would be reduced, so SSB can operate with less total square footage than with the two separate buildings.
Unifying the facilities could save $60,100 per year in operating costs. Also, the costs of office supplies and printed materials could decrease. The company could also eliminate three positions, which is one of the bigger savings an organization can make (True Cost). Table 1 includes this reduction in force.
Consolidation would bring some of the same functions together under one roof, creating some duplicity in duties, and the company could elect to eliminate these three positions: one receptionist, one mailroom clerk and one janitor. The savings to the company would include the wages, benefits, and the cost per square foot for their personal space. This study shows that the cost per square foot will decrease from $5.63 to $5.16 per month, so if each employee were allotted 200 sq. ft (Dess), then the annual cost savings by eliminating three positions alone would be worth $1,800. Their salaries and benefits come to nearly $150,000 between the three of them; therefore, the aggregated savings through eliminating these three positions could total $151,800 per year.
As observed in a random survey of 70 employees, nearly all surveyed agreed that the distance between buildings was creating productivity issues for them. Eighty-seven percent replied that they spent over 1 hour per week traveling between the two buildings.
The parent company cost to build a store would be $80,000 ($10,000 profit). The cost timeframe would be an $80,000 expense in the month that the store opened.
The primary problem would be the structure of the organization. This due to the fact that there are thirteen departments in total: finance and accounting, human resource management, marketing, men’s clothes, women’s clothes, shoes, hardware and automotive, music including audio and video equipment, toys, home and garden, small and large appliances, sports equipment, and furniture.
Spence, A. M., & Porteus, E. L. (1987). Setup reduction and increased effective capacity. Management Science, 33(10), 1291. Retrieved from http://search.proquest.com/docview/213309041?accountid=32521
Cost cutting, discontinuation of product or services ,technological changes, and consolidation due to mergers and acquisitions are commonly legal ac...
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The presentation of the material is in dollars only. Overhead is applied to products as a percent of direct labor dollar cost. Factory profit for each year is found by subtracting direct material, direct labor, and direct overhead costs from total sales. The overhead percentage is calculated at the same time budgeting and is applied as a single overhead pool throughout each model year. The consulting company used 435% of direct labor costs in 1987 for their study; the budgeted was actually 437% (OH/DL=107,954/24,682). A similar percentage applies in the following year (109890/25294=434.5%). However in the next two years, after the outsourcing of oil pans and mufflers was enacted, the allocation of overhead in...
...ngs if the donations department decided to completely eliminate it completely, but the savings that I calculated was lower than what the committee calculated. The savings the budget committee found includes the part time student help/additional funds, which has not been incurred yet. This portion of the building being used by the donations department to me actually helps the library based on facility costs because it may become vacant and will be paying for an empty room. So the library would only be saving $19,000 at the very least instead of $23,900. It could even be lower considering that those facility costs (highlighted above) would still be paid for by the library if they decided to use it for something else in replace of the donations department. These are some of the errors in logic that the committee made that changes the analysis of this case study.
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After analyzing our most recent annual report from 2012. We noticed that our operational cost is approximately $20,000 over our revenue. Looking at our data from previous years, the $20,000 over-budget has occurred in the past. In 2010, Partners in Health had approximately $90,000 in unused funds which carry over at the end of ...
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