...Cost of an Egg Assignment November 27th 2013 Kathleen LaRue Mary Oxner BSAD 321:11 When determining the selling price of a product or service, there is often times much more that goes into the making of a good or the delivery of a service than one might think. This paper will explore the cost of an egg, and will investigate which factors contribute to the cost of an egg, from raising laying hens to transportation of the final product to retailers. Costs Associated with the Production of an Egg: 1. Purchasing first chicks a. Variable cost - This cost is variable because the amount you spend on purchasing your first hens is dependent on how many you purchase. b. Direct cost - Costs are direct because the cost can be easily traced back to the chick 2. Price of raising pullets c. Variable cost - This cost is variable because the amount of food and water required depends on the number of pullets being raised. d. Indirect cost - This cost is indirect because tracing specific amounts of feed and water to a specific pullet is quite difficult. 3. Price of feed, water for laying hens e. Variable cost - This cost is variable because the amount of food and water required depends on the number of hens being housed. f. Indirect cost - because it would be very difficult to trace food and water to a specific hen. 4. Purchase of hen house g. Fixed cost - This is a fixed cost because it is a one-time cost to be divided...
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...operates for producing and processing and selling fresh eggs. After its first year, it began to prepare financial statements. However, the accountancy found it’s hard to identify these egg-producing flocks as inventory or as property, plant and equipment. This essay will cite accounting standards and rules from FASB, identifying the definitions related to inventory and fixed asset, and discuss the related details in company’s specific situation. Finally, the essay will provide recommendations on how to present the hens in the financial statement, and draw a conclusion based on the previous recommendations. Identification Based on Accounting Principles and Specific Situation When preparing financial statements at the end of its first operating years, Red Hen Company has to identify the classification of its egg-laying flocks. Whether the items should appear in the inventory section under the current asset, or be treated as fixed asset? Admittedly, the egg-laying flocks can be identified as fixed asset (Property, plant, and equipment), which used to create and distribute an entity’s products and services [FASB ASC 360-10-05]. Specifically, egg-laying flocks could be treated as equipment. [FASB ASC 905-360-25-4] points out “except for animals with short productive lives classified as inventory, breeding animals, livestock (which includes cattle, hogs, sheep, and goats) production animals shall be recognized as fixed asset”. “Egg-laying flocks are typical representative of production...
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...four and you eat only farm fresh eggs? Number of chickens needed. If we are a family of four and consume an average of 10 dozen eggs per month, means that we will need our chickens to produce 120 eggs per month. Eggs needed monthly: A dozen = 12 eggs. So, 12 eggs times 10 dozen = 120 eggs. Eggs needed per week: We will need to find the number of eggs we consume per week. 120 eggs divided by four weeks in a month, gives us the total of eggs needed per week. 120 ÷ 4 = 30 eggs needed per week (Almost 3 dozen eggs per week; more specifically 2 ½ dozen eggs). After doing the calculations my partner and I discovered that we were going to need six chickens; five hens and one rooster. The breed of the chickens we decided upon are the Rhode Island Red hens. We decided on the Rhode Island Reds because they are noted for their brown and delicious eggs. They can end up producing up to 200 eggs a year and a healthier one can lay even more. Healthy hens lay up to 6-7 eggs per week depending on their care and treatment. Additionally, Rhode Island Red hens lay many more eggs than an average hen if provided with plenty of quality feed. Looking at the information we have gathered we will need: 30 eggs per week, thus 5 hens will be sufficient to cover that quantity. 7 eggs times 5 hens will give us the amount of eggs that we are going to have per week. Thus 7 ×5 = 35 eggs per week. And 4 weeks (one month) × 35 eggs will give us 140 eggs per month. This means that our...
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...herein is a of eggs, produced by "Gray Ridge Eggs". Specifically, they are “Reliable Regular Eggs”, in large size number 10, in a pack of 12. These eggs are laid by white leghorn hens which are born and raised in Canada, and offer an excellent source of protein, high nutrional value, great tase and convinence to daily living. These eggs are mainly found in grocery stores such as No Frills, Sobeys, Freshco and Walmart. 2. Ownership The eggs are produced by Gray Ridge and the ownership belongs to L.H. Gray and Son Limited. They have been producing eggs since 1934 and the first egg grading station was established in Ridgetown, Ontario. L.H Gray & Son is a family owned business and operated with Bill Gray as the president. It is also, part of an egg marketing alliance called, National Egg which markets specialty eggs and egg products nationally. All of Gray Ridge products are marketed by the Heart and Stroke foundations health check programs, which helps consumer make safe choices. The company also offers different types of eggs including, organic, brown, white, Omega 3 and liquid eggs. 3. The supply chain Step 1: Food Production Gray Ridge Egg Farms picks eggs up at over 200 egg producers across South Western Ontario. These farms specialize in breeding and harvesting hens supplying Gray Ridge only quality egg. Once the eggs are picked up they are transported to a production plant either in Listowel or Strathroy. Gray Ridge than washes the eggs to sanitize them...
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...In Vitro Fertilization September 15, 2014 Class: MA111 In Vitro Fertilization (IVF) is a process of fertilizing an egg with sperm outside the body. It’s a major infertility treatment when other methods of assisted reproductive technology have failed. The process of IVF involves monitoring and stimulating a women’s ovulation process, removing an ovum or ova (egg or eggs) from the women’s ovaries, added the sperm to fertilize the egg or eggs. Once the egg has been fertilized it becomes a zygote and will be cultured for 2-6 days, when will be transferred into a women’s uterus with intention of establishing a successful pregnancy. IVF can be used to overcome female and male infertility. According to NICE guidelines IVF is indicated in unexplained infertility for women who have not conceived after 2 years of regular unprotected sexual intercourse. For IVF to be successful it requires a healthy egg, sperm that can fertilize and a uterus that can maintain a pregnancy. With the large cost of IVF it is generally attempted after less expensive treatments have failed. Some couples use donor eggs or sperm to achieve a pregnancy, but some use IVF with a surrogate where another women carried the pregnancy. With IVF there are some risks like ovarian hyperstimulation which is routinely used with IVF. Ovarian hyperstimulation is where the ovaries are stimulated to develop multiple follicles, two common drugs used are Pergonal and Repronex which are injectable gonadotropins...
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...Target Case Study: We Need More Eggs! [pic] (wordpress.com/the-devils-eggs) Introduction Target, a nationally known Fortune 500 company, is continuing to grow in both store size and numbers since its first opening in 1962. Target is extremely customer oriented and not only serves its guests with low prices, but quality products. The company is focused on innovation and creating the best experience possible for its guests. Currently, Target is in the process of implementing its “P-fresh” roll out; adding a grocery section to many existing stores as well as brand new stores. One of the problems that Target is facing with the expansion into the grocery sector is that the corporation is completely new to this ‘perishable product’ category and its employees have no past experience to internally benchmark solutions for varying demand, logistics/forecasting and stock-outs emergencies from. This case study will address the following question: “How can Target drive accuracy and efficiency in our supply chain in order to drive season in-stocks at our stores while reducing inventory levels at the DC?”. The particular problem that will be discussed is in dealing with a strategy pertaining to keeping eggs in stock during the extremely high fluctuation in demand during Easter. The complexity of seasonal in stocks has been made even more difficult as eggs must be kept refrigerated and many stores do not have extra room for in-store inventory. It is also important...
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...and quantity of Easter eggs is established by bringing the concepts of both supply and demand together to see how the households differentiate in buying decisions and the selling of Easter eggs to achieve market equilibrium. Market equilibrium is the price at which the quantity supplied equals to the quantity demanded. In the hypothetical market model below, the equilibrium price meets at $3 and the quantity is 7,000 Easter eggs of the demand and supply curves. S4 S4 S2 S2 Copyright 2007 McGraw-Hill Australia Pty Ltd, PTs t/a Microeconomics 8e, by Jackson & McIver, By Muni Perumal, University of Canberra, Australia At equilibrium or market-clearing price, the position in which the market is cleared originates from the equilibrating process; there is neither a surplus nor is there a shortage in Easter eggs. At the current price at $3 and demand at 7,000, neither buyers (households) nor sellers can do business at a better price, as consumers pay the highest price they are willing to pay for the last unit bought, and producers receive the lowest price at which they are willing to supply the last unit sold. If supply decreased to S2 in the market model, at this point, the quantity of Easter eggs supplied is 4,000 eggs and the price would decrease to $2 each. As the price has decreased, consumers would want to purchase more at this price, which creates a change in quantity demanded but producers will not produce more eggs at this price as it...
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...people don’t know how easy and inexpensive it is to raise backyard chickens? This essay will go over choosing the correct chicken for the buyers climate, how to care and feed the chickens from chick to egg layer, the coop size the buyer will need for the amount of birds and the protection required from predators, and finally what to expect from the chickens once they are egg layers. Most people think all chickens are the same, well that would be incorrect. Most backyard chickens are dual purpose breeds but very rarely are they used for meat birds. A few chickens for different environments are, for those that live in area that get really cold in the winter the Black Jersey Giant is not a wise choice, they prefer a warmer climate to live in. Say the buyer lives in a very cold climate well the perfect bird to choose would be any type of Wyandotte chicken. These birds are very cold hardy and will continue to lay eggs during extremely cold months. There are also birds that can live in eitherType to enter text Type to enter text very hot climates or very cold climates. One type of bird that can live in these environments are any breed type of the Orpington. Once the buyer chooses the correct bird for there area the buyer will need to know how to care for them from chick to egg laying hen. A good temperature for chicks as what Jenna Woginrich wrote in “Mother Earth News” “You must keep chicks warm. Ninety to 95 degrees fahrenheit is the magic temperature range, and you’ll...
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...Meadowdale Dairy Farm sells organic brown eggs to local customers. They charge $3.25 for a dozen eggs, or 45 cents for individual eggs that are not part of a dozen. Write a class that prompts a user for the number of eggs in the order and then display the amount owed with a full explanation. For example, typical output might be, “You ordered 27 eggs. That’s 2 dozen at $3.25 per dozen and 3 loose eggs at 45 cents each for a total of $7.85.” Save the class ass Eggs.java Program Listing import java.util.Scanner; /** * Name: Codi Whittaker *ID: UCCI 005272 *Class: Com 200 * coi119@hotmail.com * Group A *Assignment #: 2 *Date due: September 22, 2014 *Date turned in: September 14.2014 * filename: Eggs * Program is working and tested * Write a class that prompts a user for the number of eggs in the order and then display the amount owed with a full explanation. */ public class Eggs { public static void main(String[] args) //Main method { double DE = 3.25; // declaring variables double SE = 0.45; int NO_of_DOZEN = 12; try { Scanner bass = new Scanner(System.in); // creating new scanner device System.out.println("How many eggs do you have: "); //prompting user for amount of eggs bought int eggs = bass.nextInt(); //accepting users input double TOD=(eggs/NO_of_DOZEN)*DE; // calculation for finding how many dozen and singles there are double TOS=(eggs%NO_of_DOZEN)*SE; double T=TOD+TOS;...
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...INTRODUCTION Recently prices of chicken’s egg have rose in a higher rate rather than other grocery items in the kitchen market. Although prices of every commodity items in our country is increasing day by day, but the prices of chicken is increasing dramatically. Because of this change in price, general people are not able to fulfill their demand of egg with their income level. So people are facing a big problem. And now it has become a common phenomenon in our grocery market. In our country, egg is a source of protein of the general people. And now which is out of their reach. So people are very disappointed about this. For this reason, we are also curious about the market situation why this happening and what is the reason behind of it. There are many reasons behind of it. General people are saying something, traders are saying different things. General people are thinking that because of the bird flu issue, egg sellers are taking benefit and hiking price in term of their own business. On the other hand, traders said a short supply of poultry products in the markets due to attacks of bird flu and sharp fall in production in recent weeks contributed to price hike. Poultry farmers claimed that continuous attack of bird flu virus on broiler chicken reduced production of poultry items including eggs in recent weeks. A large number of poultry farms were shut down following the outbreak of bird flu. They also said that production cost of poultry items had also shot up due to the...
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...fall of chicken feed, an input to factors of eggs production, affects the supply curve. By reducing the costs of production, it increases the amount of eggs that firms want to produce and sell at any given price. The demand curve is unchanged because the lower cost of inputs doesn’t directly affects the amount of eggs households wish to buy. 2.The supply curve shifts to the right because, at every price, the total amount that firms are willing and able to sell is increased. 3.The event affects the supply, caused a change in supply and a change in the quantity demand therefore moves the equilibrium as shown in Figure 1. B1.Hari Raya Haji affects the demand curve because the amount off eggs that households want to buy at any given price increases tremendously as eggs is one of the main ingredients in most Malay traditional food. The supply doesn’t change because the event doesn’t directly affect the amount of eggs firms wish to produce. 2.The demand curve shifts to the right because the event makes people want to buy more eggs at any given price. 3.The event affects the demand, caused a change in demand and a change in the quantity supplied therefore moves the equilibrium as shown in Figure 2. FIGURE 1 FIGURE 2 Price of eggs Price of eggs 0 ...
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...Charles River Laboratories (CRL) CRL was once the global market leader in the commercial production and supply of laboratory animal models for use in discovery and research and the development and testing of new pharmaceuticals. The company’s strategic growth objective was to grow its existing business by between 12% and 15% annually and its entire business by 20%. This plan left a strategic growth gap of 5% to 8% each year, resulting in CRL’s pursuit of growth opportunities in the form of joint ventures, technology licensing and strategic partnerships. Key Issues Primary: Should CRL invest up to $2 million to create a state of the art specific pathogen free (SPF) egg farm? In order for Dennis to win over the Board of Directors, he must convince Jim Foster (CEO) of CRL. Foster views this proposal as a potential distraction for Specific Antigen Free Avian Services (SPAFAS), which continues to grow in the United States. Given the number of companies involved, different geographic locations and capital requirements, CRL must carefully decide whether this investment will fill their strategic gap growth. Secondary: Would IDISA be reliable partners in a joint venture The complex organizational structure of Group IDISA, is made up of five legally independent companies all owned by the same family. When considering a joint venture with ALPES, CRL has concerns regarding the number of transactions between the companies and the overall transparency of the IDISA. This family...
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...Lost, Factory Farming With Egg Laying Chickens Katelyn Felix Upper Iowa University Filth, confinement, disease, mutilation, and deprivation are a few things that come to mind when factory farming is mentioned. It is a rapidly growing problem in the United States. Factory farming first started in the 1930’s on a low scale. New kinds of incubators lead to chickens being able to be produced in larger quantities in large scale operations. After World War II the increased demand of eggs led to specialized breading and an increase in factory farming in the United States. Soon following suit between the 1960’s and 1970’s was the boom of fast food chains thus increasing the demand for cheap, fast products (Safe for Animals, 2012). Mass production swept the nation at the expense of the animals and our health. This movement cannot be stopped unless people can get informed with what is happening in these factory farms, and possible alternatives to better our nation’s moral standing. Factory farming of egg laying hens is when they are kept under strict guidelines with intensive methods in order to achieve mass production, in this case, of eggs. These hens are deprived of life, they are only used as means of production and might as well be categorized as machines. First let’s discuss the killing and disposal of chickens in this industry. In the egg industry obviously hens are the only useful chicken to these business owners, seeing as males cannot produce eggs, because of that over two...
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...CHAPTER 1 Introduction The Proposed Project Nowadays, establishing food kiosk has gasconaded all over the world as they are easy to conduct and relatively easy to start. The food service industry is and will always remain in high demand because food is one of the basic needs of men. This industries which deals with preparing food items and/or product including the restaurants, fast foods, school and hospital cafeterias, catering operations, food trucks, kiosk and etc. wherein the basic necessity is food. School canteens, commonly referred to as cafeterias, provide a range of food options from complete, nutritionally-balanced meals to a' la carte choices. Faced with an overwhelming array of choices, and with little nutrition knowledge to guide those students often struggle making wise meal choices. Too many food options can lead to poor food choices for students who may be overwhelmed with their new freedom to choose what they should eat in a meal. Food is the first and the greatest need for every person to live, to enjoy life, to a healthy lifestyle and to fit the eagerness of wanting something delicious. This could be the reason why some of people want to establish a kiosk where they could eat preferred foods at the same time, to relax their mind and body from all the tensions that the whole day brings. Kiosks are becoming quite popular and incredibly profitable for many small business owners. They were initially considered an option for only low-end markets, but now...
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...sugarcane in tropical regions c. Raisers of animals for competitive sports d. Merchants or noncooperative processors of agricultural products that purchase commodities from growers, contract harvesters, or others serving agricultural producers. The Red Hen Company produces, processes, and sells fresh eggs. The guidance in this topic would apply to The Red Hen Company according to FASB ASC 906-10-05-1 “Operating poultry and egg production facilities” is listed as one of the examples of the entities that follow the guidance in this topic. 3. FASB ASC 905-360-30-4 describes the type of animal that the egg-laying flock would be categorized as: The production costs of chickens raised for an egg-laying unit shall include the initial cost of the birds (or, if hatched, the costs of eggs and hatching expenses), the costs of materials and labor, and allocated indirect costs during the prematurity period. 4. According to FASB ASC 905-330-25-3, a flock of egg-laying hens are classified on the balance sheet as follows: Animals with short productive lives, such as poultry, may be classified as inventory. Due to the short productive life of poultry, the cost of flocks...
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