Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase Essay Example

Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase Paper The CVP analysis helps in taking more than one decisions in a firm. How would you substantiate this statement for a unit under expansion phase| | Abstract Companies commonly face major uncertainties in their product markets, particularly in the manufacturing industry where competition is often fierce and consumer tastes change rapidly. Managers need to estimate future revenues, costs, and profits to help them plan and monitor operations and to decide the mix and volumes of goods or services to produce and sell. They also use this information to evaluate profitability risk. Cost-volume-profit (CVP) analysis is the technique used to identify the levels of operating activity needed to avoid losses, achieve targeted profits, plan future operations, decide on expansion or contraction plans, monitor organizational performance and analyze operational risk as they choose an appropriate cost structure to help in the decision making process to sustain the firm. Table of Contents Introduction4 Marginal Cost Equations and CVP Analysis9 Cost Volume Profit (CVP) Relationship in Graphic Form14 Applications of Cost Volume Profit (CVP) Concepts17 CVP Analysis Illustrations Unit in Expansion Mode19 Illustration 119 Illustration 222 References28 Introduction To assist planning and decision making, management should know not only the budgeted profit, but also: * the output and sales level at which there would neither profit nor loss (break-even point) * the amount by which actual sales can fall below the budgeted sales level, without a loss being incurred (the margin of safety) In marginal costing, marginal cost varies directly with the volume of production or output. On the other hand, fixed cost remains unaltered regardless of the volume of output within the scale of production already fixed by management. We will write a custom essay sample on Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Management Accounting Project Report Cvp Analysis for a Firm Under Expansion Phase specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In case if cost behaviour is related to sales income, it shows cost-volume-profit relationship. In net effect, if volume is changed, variable cost varies as per the change in volume. In this case, selling price remains fixed, fixed remains fixed and then there is a change in profit. Being a manager, you constantly strive to relate these elements in order to achieve the maximum profit. Cost – Volume profit Analysis is a logical extension of Marginal costing. It is based on the same principles of classifying the operating expenses into fixed and variable. CVP analysis is generally defined as a planning tool by which managers can evaluate the effect of a change(s) in price, volume, variable cost or fixed cost on profit. Additionally, CVP analysis is the basis for understanding contribution margin pricing, related short-run decisions, target costing and transfer pricing. Apart from profit projection, the concept of Cost-Volume-Profit (CVP) is relevant to virtually all decision-making areas, particularly in the short run. The relationship among cost, revenue and profit at different levels may be expressed in graphs such as breakeven charts, profit volume graphs or in various statements forms. CVP Analysis helps managers understand the interrelationship between cost, volume, and profit in an  organization  by focusing on interactions among the following five elements:   1. Prices of products 2. Volume or level of activity 3. Per unit variable cost 4. Total fixed cost 5. Mix of product sold Earning of maximum profit is the ultimate goal of almost all business undertakings. Profit depends on a large number of factors, most important of which are the cost of manufacturing and the volume of sales. Both these factors are interdependent. Volume of sales depends upon the level of production i. e. volume of production and market forces which turns in related to costs. Management has no control over market. In order to achieve certain level of profitability, it has to exercise control and management of costs, mainly variable cost. This is because fixed cost is a non-controllable cost. In other words, it helps in locating the level of output which evenly breaks the cost and revenues used. In its broader sense, it means that system of analysis which determines profit, cost and sales value at different levels of output i. . it establishes the relationship of cost, volume and profit. CVP Analysis helps to find out the profitability of a product, department of division to have better product mix, for profit planning and to maximize the profit of a concern. The decisions can include such crucial areas as pricing policies, product mixes, market expansion or contractions, outsourcing contracts, idle plant usage, discretionary e xpenses planning and a variety of other important considerations in the planning process. Thus cost volume profit analysis furnishes the complete picture of the profit structure. When the firm is in expansion phase, Funds are provided for the major expansion of a company which has increasing sales volume and which is breaking even or which has achieved initial profitability. Funds are utilized for  further plant expansion, marketing, and working capital  or for development of an  improved product, a  new technology, or an  expanded product line. Cost-volume-profit analysis can answer a number of analytical questions. These include, for example: 1. What products to manufacture or sell? 2. What pricing policy to follow? 3. What marketing strategy to employ? 4. What type of productive facilities to acquire? Cost-volume-profit analysis can also answer many other â€Å"what if† type of questions. Cost-volume-profit analysis is one of the important techniques of cost and management accounting. Although it is simple, it is a powerful tool for planning of profits and therefore, of commercial operations. It provides an answer to â€Å"what if† theme by telling the volume required to be produced. Following are the three approaches to a CVP analysis: * Cost and revenue equations * Contribution margin * Profit graph Before going into further details on the above three approaches below is described, the broad objectives of CVP analysis and the assumptions thereof n attaining these objectives. Further the limitations of the CVP analysis are detailed, which will help determine when, where and in which situations CVP analysis can be applied effectively in the various decisions that a firm needs to make to continue functioning. Objectives of Cost-Volume-Profit Analysis 1. In order to fo recast profits accurately, it is essential to ascertain the relationship between cost and profit on one hand and volume on the other. 2. Cost-volume-profit analysis is helpful in setting up flexible budget which indicates cost at various levels of activities. . Cost-volume-profit analysis assists in evaluating performance for the purpose of control. 4. Such analysis may assist management in formulating pricing policies by projecting the effect of different price structures on cost and profit. Assumptions Following are the assumptions on which the theory of CVP is based: 1. The changes in the level of various revenue and costs arise only because of the changes in the number of product (or service) units produced and sold, e. g. , the number of television sets produced and sold by Sigma Corporation. The number of output (units) to be sold is the only revenue and cost driver. Just as a cost driver is any factor that affects costs, a revenue driver is any factor that affects revenue. 2. Total costs can be divided into a fixed component and a component that is variable with respect to the level of output. Variable costs include the following: * Direct materials * Direct labor * Direct chargeable expenses Variable overheads include the following: * Variable part of factory overheads * Administration overheads * Selling and distribution overheads 3. There is linear relationship between revenue and cost. 4. When put in a graph, the behavior of total revenue and cost is linear (straight line), i. e. Y = ax + b holds good which is the equation of a straight line. 5. The unit selling price, unit variable costs and fixed costs are constant. 6. The theory of CVP is based upon the production of a single product. However, of late, management accountants are functioning to give a theoretical and a practical approach to multi-product CVP analysis. 7. The analysis either covers a single product or assumes that the sales mix sold in case of multiple products will remain constant as the level of total units sold changes. . All revenue and cost can be added and compared without taking into account the time value of money. 9. The theory of CVP is based on the technology that remains constant. 10. The theory of price elasticity is not taken into consideration. Many companies, and divisions and sub-divisions of companies in industries such as airlines, automobiles, chemicals, plastics and semiconductor s have found the simple CVP relationships to be helpful in the following areas: * Strategic and long-range planning decisions * Decisions about product features and pricing In real world, simple assumptions described above may not hold good. The theory of CVP can be tailored for individual industries depending upon the nature and peculiarities of the same. For example, predicting total revenue and total cost may require multiple revenue drivers and multiple cost drivers. Some of the multiple revenue drivers are as follows: * Number of output units * Number of customer visits made for sales * Number of advertisements placed Some of the multiple cost drivers are as follows: * Number of units produced * Number of batches in which units are produced Managers and management accountants, however, should always assess whether the simplified CVP relationships generate sufficiently accurate information for predictions of how total revenue and total cost would behave. However, one may come across different complex situations to which the theory of CVP would rightly be applicable in order to help managers to take appropriate decisions under different situations. Limitations of Cost-Volume Profit Analysis The CVP analysis is generally made under certain limitations and with certain assumed conditions, some of which may not occur in practice. Following are the main assumptions and limitations therein of the cost-volume-profit analysis: 1. It is assumed that the production facilities anticipated for the purpose of cost-volume-profit analysis do not undergo any change. Such analysis gives misleading results if expansion or reduction of capacity takes place. 2. In case where a variety of products with varying margins of profit are manufactured, it is difficult to forecast with reasonable accuracy the volume of sales mix which would optimize the profit. 3. The analysis will be correct only if input price and selling price remain fairly constant which in reality is difficult to find. Thus, if a cost reduction program is undertaken or selling price is changed, the relationship between cost and profit will not be accurately depicted. 4. In cost-volume-profit analysis, it is assumed that variable costs are perfectly and completely variable at all levels of activity and fixed cost remains constant throughout the range of volume being considered. However, such situations may not arise in practical situations. . It is assumed that the changes in opening and closing inventories are not significant, though sometimes they may be significant. 6. Inventories are valued at variable cost and fixed cost is treated as period cost. Therefore, closing stock carried over to the next financial year does not contain any component of fixed cost. Inventory should be valued at full cost in reality. Sensitivity Analysis or What If Analysis and Uncertainty Sens itivity analysis is relatively a new term in management accounting. It is a â€Å"what if† technique that managers use to examine how a result will change if the original predicted data are not achieved or if an underlying assumption changes. In the context of CVP analysis, sensitivity analysis answers the following questions: 1. What will be the operating income if units sold decrease by 15% from original prediction? 2. What will be the operating income if variable cost per unit increases by 20%? The sensitivity of operating income to various possible outcomes broadens the perspective of management regarding what might actually occur before making cost commitments. Marginal Cost Equations and CVP Analysis Break even is the level of sales at which the profit is zero. Cost volume profit analysis is some time referred to simply as break even analysis. This is unfortunate because break even analysis is only one element of cost volume profit analysis. Break even analysis is designed to answer questions such as  How far sales could drop before the company begins to lose money? † From the marginal cost statements, one might have observed the following: Sales – Marginal cost = Contribution(1) Fixed cost + Profit = Contribution(2) By combining these two equations, we get the fundamental marginal cost equation as follows: Sales – Marginal cost = Fixed cost + Profit(3) This fundamental marginal cost equation plays a vital role in profit projection and has a wider application in managerial decision-making problems. The sales and marginal costs vary directly with the number of units sold or produced. So, the difference between sales and marginal cost, i. e. contribution, will bear a relation to sales and the ratio of contribution to sales remains constant at all levels. This is profit volume or P/V ratio. Thus, P/V Ratio (or C/S Ratio) = Contribution (C)Sales (S) (4) It is usually expressed in terms of percentage, P/V ratio = (C/S) x 100 Contribution = Sales x P/V ratio(5) Sales = Contribution (C)PV Ratio(6) The above-mentioned marginal cost equations can be applied to the following heads: 1. Contribution Margin Contribution margin  is the amount remaining from sales revenue after variable expenses have been deducted i. e. difference between sales and marginal or variable costs. Thus it is the amount available to cover fixed expenses and then to provide profits for the period. The concept of contribution helps in deciding breakeven point, profitability of products, departments etc. to perform the following activities: * Selecting product mix or sales mix for profit maximization * Fixing selling prices under different circumstances such as trade depression, export sales, price discrimination etc. CVP analysis can be used to help find the most profitable combination of variable costs, fixed costs, selling price, and sales volume. Profits can sometimes be improved by reducing the contribution margin if fixed costs can be reduced by a greater amount. The contribution margin as a percentage of total sales is referred to as contribution margin ratio (CM Ratio). Contribution margin ratio can be used in cost-volume profit calculations. 2. Profit Volume Ratio (P/V Ratio), its Improvement and Application The ratio of contribution to sales is P/V ratio or C/S ratio. It is the contribution per rupee of sales and since the fixed cost remains constant in short term period, P/V ratio will also measure the rate of change of profit due to change in volume of sales. The P/V ratio may be expressed as follows: P/V Ratio = Sales-Marginal Cost of SalesSales ContributionSales = Changes in ContributionChanges in Sales = Change in ProfitChange in Sales A fundamental property of marginal costing system is that P/V ratio remains constant at different levels of activity. A change in fixed cost does not affect P/V ratio. The concept of P/V ratio helps in determining the following: * Breakeven point * Profit at any volume of sales * Sales volume required to earn a desired quantum of profit * Profitability of products * Processes or departments The contribution can be increased by increasing the sales price or by reduction of variable costs. Thus, P/V ratio can be improved by the following: * Increasing selling price * Reducing marginal costs by effectively utilizing men, machines, materials and other services * Selling more profitable products, thereby increasing the overall P/V ratio 3. Breakeven Point Breakeven point is the volume of sales or production where there is neither profit nor loss. Thus, we can say that: Contribution = Fixed cost Now, breakeven point can be easily calculated with the help of fundamental marginal cost equation, P/V ratio or contribution per unit. a. Using Marginal Costing Equation S (Sales) – V (Variable cost) = F (Fixed cost) + P (Profit) At BEP P = 0, i. e. BEP Sales – V = F By multiplying both the sides by S and rearranging them, one gets the following equation: Sales at BEP = F. S/S-V b. Using P/V Ratio Sales (S) at BEP = Contribution at BEPP/V Ratio = Fixed CostP/V Ratio c. Using Contribution per unit Breakeven Point = Fixed Cost/Contribution per unit 4. Margin of Safety (MOS) Every enterprise tries to know how much above they are from the breakeven point. This is technically called margin of safety. It is calculated as the difference between sales or production units at the selected activity and the breakeven sales or production. Margin of safety is the difference between the total sales (actual or projected) and the breakeven sales. It may be expressed in monetary terms (value) or as a number of units (volume). It can be expressed as profit / P/V ratio. A large margin of safety indicates the soundness and financial strength of business. Margin of safety can be improved by lowering fixed and variable costs, increasing volume of sales or selling price and changing product mix, so as to improve contribution and overall P/V ratio. Margin of safety = Sales at selected activity – Sales at BEP = Profit at selected activityP/V Ratio Margin of safety is also presented in ratio or percentage as follows: Margin of Safety SalesSales at selected activity ? 100% The size of margin of safety is an extremely valuable guide to the strength of a business. If it is large, there can be substantial falling of sales and yet a profit can be made. On the other hand, if margin is small, any loss of sales may be a serious matter. If margin of safety is unsatisfactory, possible steps to rectify the causes of mismanagement of commercial activities as listed below can be undertaken. . Increasing the selling price It may be possible for a company to have higher margin of safety in order to strengthen the financial health of the business. It should be able to influence price, provided the demand is elastic. Otherwise, the same quantity will not be sold. 2. Reducing fixed costs 3. Reducing variable costs 4. Substitution of existin g product(s) by more profitable lines e. Increase in the volume of output 5. Modernization of production facilities and the introduction of the most cost effective technology 5. Degree of Operating Leverage Managers decide how to structure the cost function for their organizations. Often, potential trade-offs are made between fixed and variable costs. For example, a company could purchase a vehicle (a fixed cost) or it could lease a vehicle under a contract that charges a rate per mile driven (a variable cost). One of the major disadvantages of fixed costs is that they may be difficult to reduce quickly if activity levels fail to meet expectations, thereby increasing the organization’s risk of incurring losses. The degree of operating leverage is the extent to which the cost function is made up of fixed costs. Organizations with high operating leverage incur more risk of loss when sales decline. Conversely, when operating leverage is high an increase in sales (once fixed costs are covered) contributes quickly to profit. The formula for operating leverage can be written in terms of either contribution margin or fixed costs, as shown here Degree of operating leverage in terms of contribution margin = Contribution marginProfit = Total Revenue-Total Variable CostProfit P-VQProfit Degree of operating leverage in terms of fixed costs = FProfit+1 Managers use the degree of operating leverage to gauge the risk associated with their cost function and to explicitly calculate the sensitivity of profits to changes in sales (units or revenues): % change in profit = % change in sales x Degree of Operating leverage Managers need to consider the degree of operating leverage when they decide whether to incu r additional fixed costs, such as purchasing new equipment or hiring new employees. They also need to consider the degree of operating leverage for potential new products and services that could increase an organization’s fixed costs relative to variable costs. If additional fixed costs cause the degree of operating leverage to reach what they consider an unacceptably high level, managers often use variable costs—such as temporary labour—rather than additional fixed costs to meet their operating needs. Cost Volume Profit (CVP) Relationship in Graphic Form Apart from marginal cost equations, it is found that the relationships among revenue, cost, profit and volume can be expressed graphically by preparing a  cost-volume-profit (CVP) graph or break even chart. Breakeven chart and profit graphs, which is a development of simple breakeven chart and shows clearly profit at different volumes of sales, are useful graphic presentations of the cost-volume-profit relationship. Breakeven chart is a device which shows the relationship between sales volume, marginal costs and fixed costs, and profit or loss at different levels of activity. Such a chart also shows the effect of change of one factor on other factors and exhibits the rate of profit and margin of safety at different levels. A breakeven chart contains, among other things, total sales line, total cost line and the point of intersection called breakeven point. It is popularly called breakeven chart because it shows clearly breakeven point (a point where there is no profit or no loss). Construction of a Breakeven Chart The construction of a breakeven chart involves the drawing of fixed cost line, total cost line and sales line as follows: 1. Select a scale for production on horizontal axis and a scale for costs and sales on vertical axis. 2. Plot fixed cost on vertical axis and draw fixed cost line passing through this point parallel to horizontal axis. 3. Plot variable costs for some activity levels starting from the fixed cost line and join these points. This will give total cost line. Alternatively, obtain total cost at different levels; plot the points starting from horizontal axis and draw total cost line. 4. Plot the maximum or any other sales volume and draw sales line by joining zero and the point so obtained. Uses of Breakeven Chart A breakeven chart can be used to show the effect of changes in any of the following profit factors: * Volume of sales * Variable expenses * Fixed expenses * Selling price A CVP graph or breakeven chart thus highlights CVP relationships over wide ranges of activity and can give managers a perspective that can be obtained in no other way. Profit Graph Profit graph is an improvement of a simple breakeven chart. It clearly exhibits the relationship of profit to volume of sales. The construction of a profit graph is relatively easy and the procedure involves the following: 1. Selecting a scale for the sales on horizontal axis and another scale for profit and fixed costs or loss on vertical axis. The area above horizontal axis is called profit area and the one below it is called loss area. 2. Plotting the profits of corresponding sales and joining them. This is profit line. Limitations and Uses of Breakeven Charts A simple breakeven chart gives correct result as long as variable cost per unit, total fixed cost and sales price remain constant. In practice, all these factors may change and the original breakeven chart may give misleading results. But then, if a company sells different products having different percentages of profit to turnover, the original combined breakeven chart fails to give a clear picture when the sales mix changes. In this case, it may be necessary to draw up a breakeven chart for each product or a group of products. A breakeven chart does not take into account capital employed which is a very important factor to measure the overall efficiency of business. Fixed costs may increase at some level whereas variable costs may sometimes start to decline. For example, with the help of quantity discount on materials purchased, the sales price may be reduced to sell the additional units produced etc. These changes may result in more than one breakeven point, or may indicate higher profit at lower volumes or lower profit at still higher levels of sales. Nevertheless, a breakeven chart is used by management as an efficient tool in marginal costing, i. e. in forecasting, decision-making, long term profit planning and maintaining profitability. The margin of safety shows the soundness of business whereas the fixed cost line shows the degree of mechanization. The angle of incidence is an indicator of plant efficiency and profitability of the product or division under consideration. It also helps a monopolist to make price discrimination for maximization of profit. Applications of Cost Volume Profit (CVP) Concepts CVP analysis thus involves the analysis of how total costs, total revenues and total profits are related to sales volume, and is therefore concerned with predicting the effects of changes in costs and sales volume on profit. The technique used carefully may be helpful in the following situations: a) Budget planning. The volume of sales required to make a profit (breakeven point) and the safety margin for profits in the budget can be measured. b) Pricing and sales volume decisions. c) Sales mix decisions, to determine in what proportions each product should be sold. d) Decisions that will affect the cost structure and production capacity of the company. e) Make or buy decisions – Analyzing and determining whether it is profitable for a firm to manufacture a particular component or product themselves, outsource the production to others or buy a component/product already available for their use. ) To decide whether or not to close down a factory, department, product line or other activity, either because it is making losses or because it is too expensive to run. This often involves long term considerations, and capital expenditures and revenues. But it can be simplified into short run decisions, by making certain assumptions. g) Assist in determining production or activity levels of employee s and their work schedules. h) Assist in determining discretionary expenditures and product emphasis such as advertising. While this type of analysis is typical for manufacturing firms, it also is appropriate for other types of industries. In addition to the restaurant industry, CVP has been used in decision-making for nuclear versus gas- or coal-fired energy generation. Some of the more important costs in the analysis are projected discount rates and increasing governmental regulation. At a more down-to-earth level is the prospective purchase of high quality compost for use on golf courses in the Carolinas. Greens managers tend to balk at the necessity of high (fixed) cost equipment necessary for uniform spread ability and maintenance, even if the (variable) cost of the compost is reasonable. Interestingly, one of the unacceptably high fixed costs of this compost is the smell, which is not adaptable to CVP analysis. Even in the highly regulated banking industry, CVP has been useful in pricing decisions. The market for banking services is based on two primary categories. First is the price-sensitive group. In the 1990s leading banks tended to increase fees on small, otherwise unprofitable accounts. As smaller account holders have departed, operating costs for these banks have decreased due to fewer accounts; those that remain pay for their keep. The second category is the maturity-based group. Responses to changes in rates paid for certificates of deposit are inherently delayed by the maturity date. Important increases in fixed costs for banks include computer technology and the employment of skilled analysts to segment the markets for study. Even entities without a profit goal find CVP useful. Governmental agencies use the analysis to determine the level of service appropriate for projected revenues. Nonprofit agencies, increasingly stipulating fees for service, can explore fee-pricing options; in many cases, the recipients are especially price-sensitive due to income or health concerns. The agency can use CVP to explore the options for efficient allocation of resources. Project feasibility studies frequently use CVP as a preliminary analysis. Such major undertakings as real estate/construction ventures have used this technique to explore pricing, lender choice, and project scope options. Cost-volume-profit analysis is a simple but flexible tool for exploring potential profit based on cost strategies and pricing decisions. While it may not provide detailed analysis, it can prevent do-nothing management paralysis by providing insight on an overview basis. CVP Analysis Illustrations Unit in Expansion Mode In an expanding market, managers take advantage of fixed costs to generate profitable growth as additional customers do not add much additional costs. In such cases cost structure dominated by fixed cost structure is a smart managerial decision. Whenever a decision is to be taken as to whether the capacity is to be expanded or not, consideration should be given to the following points: * Additional fixed expenses to be incurred * Possible decrease in selling price due to increase in production * Whether the demand is sufficient to absorb the increased production Based on these considerations, the cost schedule will be worked out. While deciding about the contraction of business, the saving in fixed expenses and the marginal contribution lost will have to be taken into account. If a branch office is to be closed down, and if the branch is giving a marginal contribution sufficient to cover fixed expenses the contraction may lead to a loss. Example: Branch B Sales – `20000 P/V Ratio – 20% Marginal contribution – `4000 Fixed expenses of the branch – `3000 The branch is giving an extra contribution of `1000. If it is closed, the fixed expense saving is `3000, whereas the contribution lost is `4000. Hence it is not advisable to contract the business by closing down the branch. Illustration 1 Nice and Warm Ltd. , manufactures and markets hot plates. During the first five years of operation, the company had experienced a gradual increase in sales volume, and the current annual growth in sales of 5% is expected to continue into the foreseeable future. The plant is now producing at its full capacity of one lakh hot plates. At the monthly Management Advisory Committee meeting, amongst other things, the plan of action for next year was discussed. Managing Director proposed two alternatives. First, operations could be continued at full capacity and with the existing facilities an output of one lakh hot plates at a selling price of `100 per unit could be maintained. Secondly, production and sales could be increased by 5% to take advantage of the rate of expansion in demand for the product. But this could increase cost, as to achieve this output the company will have to resort to weekend and overtime workings. However, a policy of steady growth was preferable to maintaining status quo. In view of the company’s competitors having a substantial share of the market, the Works Director was of the view that it was not enough for the company to maintain merely the present share of the total market. A larger share of the total market should be obtained. For that, the company should increase the production by 10% through a modest expansion of plant capacity. In order to sell the output of 110000 units, the selling price could be reduced to `95 per unit. Thinking on the same lines, the Marketing Director put forth a more radical proposal. The strategy should be to seize the competitive leadership in the market with regard to both price and volume. With this end in view, he suggested that the company should straight away embark on an expensive modernization programme which will initially increase volume by 20%. The entire output of 120000 hot plates could be easily sold at a price of `90 per unit. At this juncture Managing Director expressed concern about the probable behavior of the company’s competitors. They might also expand in order to produce more and sell at lowest prices. Suppose this happened, he wanted also the financial effects of the proposals of the Works Director and the Marketing Director, if in those proposals, the increase in sales were to be only half of that predicted. It is required to critically evaluate the six alternatives, and suggest recommendations to be circulated to the Directors. In this connection the following details have been gathered: 1) If next year’s production was maintained at the current year’s level variable costs would remain unchanged at `30lakhs. ) The weekend and overtime working would increase with the variable and fixed costs. Variable cost would rise to `55 per unit while fixed costs would increase to `3025000. 3) In the proposal of the Works Director, the ratio of variable costs to sales would continue to be 50% and fixed costs would rise to `3225000. 4) In the proposal of the Marketing Director, as a result of increased pro duction efficiency and some savings from purchase of materials, it is estimated that the ratio of variable cost to sales would decrease to 48% and the fixed costs would increase by `516000. A tabular statement of comparative figures pertaining to Total Turnover, Total Contribution, Percentage of Profit to Sales and Break-Even units as regards to each of the six proposals is given below: Proposals| | Managing Director’s 1st proposal| Managing Director’s 2nd proposal| Works Director’s 1st proposal| Works Director’s 2nd proposal (1/2 of expected increase)| Marketing Director’s 1st proposal| Marketing Director’s 2nd proposal (1/2 of expected increase)| | (1)| (2)| (3)| (4)| (5)| (6)| Units Sold| 100000| 105000| 110000| 105000| 120000| 110000| Unit Selling Price (in `)| 100| 100| 95| 95| 90| 90| Total turnover (in ` lakhs)| 100. 0| 105. 00| 104. 50| 99. 75| 108. 00| 99. 00| Unit contribution| 50| 45| 47. 5| 47. 5| 46. 80| 46. 80| Total Contribution| 50| 47. 25| 52. 25| 49. 875| 56. 16| 51. 48| Fixed Cost (in ` lakhs)| 30| 30. 25| 32. 25| 32. 25| 35. 16| 35. 16| Profit (in ` lakhs)| 20| 17. 00| 20. 00| 17. 625| 21| 16. 32| Percentage of profit to Sales| 20%| 16. 19%| 19. 14%| 17. 67%| 19. 44%| 16. 48%| Breakeven units| 60000| 67222| 67895| 67895| 75128| 75128| Margin of Safety in units| 40000| 37778| 42105| 37105| 44872| 34872| Relative risks involved At the present full capacity level, it is enough to sell 60,000 units to break even. Other proposals raise the break-even point further. In an uncertain market, if in the proposals of Works Director and the Marketing Director, only half the increase is achieved, the margin of safety will be lower than the present 40,000 units. Profit as a percentage of sales is also lower than existing, in all the proposals. All this is a disquieting feature as the risk involved is greater in all the other proposals. Short-term and long-term implications of the Managing Director’s proposals The company has already reached its full capacity. As a short term measure, the Managing Director’s first proposal seems to be all right. From long-term point of view, neither of the proposals can be considered to be satisfactory. Both the proposals of the Managing Director do not provide a lasting solution. Though the second proposal maintains the market share, it results in less profit, both in quantum and percentage. As the capacity has already been reached there is an urgent necessity for the Managing Director to address himself to long range objectives and plans keeping in view the expansion in demand for the company’s product. Price elasticity of demand and suggestions on the pricing policy and cost structure It seems that both the Works Director and the Marketing Director have very elementary notions on price. They think that if the volume increases in order to sell the increased volume, price has to be lowered. No serious study seems to have been made on the price elasticity of demand for the company’s product. On the other hand, we have been told that there is a steady 5% annual growth in demand, which means that the prices need not be reduced only more market share has to be obtained. For incremental production, differential pricing in certain special markets has to be resorted to; if this is not possible, the increased production can be sold under a different brand name with a different price (A static cost structure, more or less, has been assumed). To beat competition, a better product has to be put in the market and cost reduction offered through value analysis, etc. Financial implications of the expansion schemes The expansion scheme envisaged has to be properly tested for profitability by feasibility study reports, etc. Source of financing the expansion has to be determined. The financial implications of share issue or borrowed funds have to be gone through. Long range objectives have to be defined and plans drawn accordingly to achieve them. Illustration 2 Reliable Chair Co. is a manufacturer of solid wood chairs. It is required to calculate a breakeven level for monthly sales. In other words the number of chairs Reliable needs to sell each month in order to breakeven needs to be determined. (While this example uses a manufacturing business, remember that break-even analysis can be used for both retail and service businesses as well) During this same month last year, Reliable sold 550 chairs. The business has enjoyed moderate growth over the last year, so the reasonable assumptions can be: * 600 chairs will be sold this month. * The companys income statement has been projected, based upon an expected volume of 600 chairs per month. * Each monthly expense has been classified as either fixed or variable. The classification that has been prepared is as follows: Fixed Costs / Month * Building Rent `10000 * Property Tax `4000 * Utilities `900 * Telephone `850 * Depreciation `8000 * Insurance `500 * Advertising `3000 * General Office Salaries `7000 * General Maintenance `700 Total `34950 Variable Costs / Month * Direct Materials `28800 (wood. varnish, etc. ) * Direct Labour `26400 * Overtime Labour `1500 * Billing Costs `2000 * General Maintenance `1300 Total`60,000 General Office Salaries is included as a fixed cost because in the short run these salaries must be paid regardless of whether any chairs are sold or not during the month. Obviously, if the firm fails to sell chairs for a number of months, the office salaries will decline and will no longer be considered fixed. This cost would eventually change with the volume of sales. Remember, though, that break-even analysis focuses only on the short run. General Maintenance Expense appears on both the fixed and variable lists. This is because some maintenance costs will be incurred regardless of how many chairs we sell (the fixed portion). The office wastepaper baskets will still be emptied, floors washed, and windows cleaned. On the other hand, the more chairs we sell, the more the machinery will be used, so the incidence of breakdown is likely to increase, which will require more maintenance (the variable portion). How to divide maintenance costs between fixed and variable cost is a matter of choice. In the above example, we have divided maintenance as 35 percent fixed and 65 percent variable. One more piece of information is needed, which is readily available from the business records, before the break-even point can be calculated: the Selling Price. The selling price is known for an existing business. However break-even analysis can actually help to determine the selling price. Currently, Reliable chairs are selling to dealers for `250. Lets summarize what we know so far: * Total monthly fixed costs `34,950 * Total monthly variable costs `60,000 * Selling price for one chair `250 Expected number of chairs to be sold this month 600 Heres where we figure Variable Cost per Unit. Simply divide the Total Variable Cost by the Number of Units we expect to sell to get the Variable Cost per Unit. An existing business may use a previously calculated variable cost per unit figure, but it is best to review variable costs and expected sales at least annually to assure the most accurate data in doing your break-even analysis. In general, the formula for figuring Variable Cost per Unit looks like this: Total Variable Cost / Number of Units = Variable Cost per Unit The calculation for this example looks like this: 60,000 Variable Cost / 600 Units = `100 Variable Cost per Unit Break-Even in Units Total Monthly Fixed Costs + Variable Costs (variable cost per unit times number of units sold) = Net Sales Revenue (selling price per unit times number of units sold) In the formula, let X stand for the number of chairs needed to break even. The Net Sales Revenue at the break-even point in this example will be `250 (selling price for one chair) times X number of chairs. The Variable Cost per Unit in this example is `100, so Variable Costs equal `100 times â€Å"X† number of chairs. Plugging the values into the break-even formula: 34,950 + `100X = `250X Solving the equation, we find X = 233 In other words, Reliable needs to sell 233 chairs during the month just to cover all expected expenses. At the 233-chair point, Reliable will not be making a profit or incurring a loss, but the very next chair they sell will give them a profit. Break-Even in Sales Dollars Breakeven level can also be calculated in terms of dollars. We know how many chairs need to be sold and how much each chair sells for, so multiplying Chairs times Dollars per Chair will give us the break-even level of sales dollars. i. e. 233 chairs x `250 per chair = $58,250 Another way of thinking about this number is that once Reliables sales for the month have passed `58,250, they should be making a profit. The words should be are important. Remember that many of the figures we used in determining fixed and variable costs were based upon judgment. For a business still in the planning stage, these figures would be estimates or projections. This means that it is probably best not to rely on a single number like the 233 chairs we calculated as the break-even point. It is better to use the real power of break-even analysis to develop a range of points which better define what might actually happen. Break-Even to Set Price In the above calculation, we assumed the price was set at `250. What happens to our break-even point if we lower the price to `225? Again, Fixed Costs + Variable Costs = Net Sales Revenue i. e. `34,950 + `100X = `225X Solving, we get X = 279. 6 ~ 280 (approx. ) We find when we cut our price by 10 percent, that the number of chairs we will have to sell to break even went up just over 20 percent. Because we cant sell six-tenths of a chair, Reliables break-even is actually 280 chairs in this case. Now, imagine recalculating the break-even point for a whole range of item prices. You would get a corresponding range of break-even points. You can use that range to judge the feasibility of actually reaching different sales levels. If it seems physically impossible to produce the number of units needed to break even at the lowest item price in your range of reasonable prices in the actual marketplace, this is a good advance indication of a potential problem. Possibly, the project is not feasible. On the other hand, it could be an indication that your classification of expenses is off. You can try adjusting your estimate of fixed expenses to see how that affects your break-even point. The Profit Break-Even Formula Profit is what is left of the net sales revenue after all expenses have been covered. The basic break-even formula identifies the point at which all expenses have been covered, but where profit has not yet begun to accrue. In other words, implicit in the basic formula is the idea that profit is zero at break-even. In this example, break-even looks like this: Fixed Costs + Variable Costs = Net Sales Revenue i. e. `34,950 + `100X = `250X Actually, profit is in the formula, but at a zero value: Profit + Fixed Costs + Variable Costs =Net Sales Revenue . e. `0 + `34,950 + `100X = `250X The general form of the formula above, which we will call the profit breakeven formula, is the form to use when you want to estimate the level of sales necessary to meet a certain profit requirement. Lets look at an example using the Reliable Chair Co. data. It is now required to find the level of sales necessary to meet desired profit projections. It is known that plans requir e a profit of `50,000 for the period under consideration. How many chairs must Reliable sell to make that profit level? Recall the profit break-even formula and fill in the values we know or have already calculated: Profit + Fixed Costs + Variable Costs = Net Sales Revenue i. e. `50,000+ `34,950 + `100X = `250X Solving X = 566. 33 ~ 567 (approx. ). So, in order to make a `50,000 profit, Reliable must sell 567 chairs this month. As with the basic break-even formula, the real strength of profit break-even is its ability to give you a range of figures to use in your planning. What if selling 567 chairs a month is physically impossible for Reliable? Suppose Reliable is only able to produce 500 chairs a month because of production constraints. What price would they then have to charge to make a `50,000 profit? First, recognize that the variable cost per unit will not change. Therefore, it will still cost `100 to produce each chair. Following the procedure weve been using, the number of chairs was always represented by X because the quantity of chairs was unknown. Now we know that the number of chairs we can produce is 500, and we want to find the sales price. So, lets let Y = sales price and fill in the rest of what we know. The profit break-even formula would then look like this: Profit + Fixed Costs + Variable Costs = Net Sales Revenue . e. `50,000 + `34,950 + `100X = 500Y Solving, we get, Y = `269. 90 = `270 (approx. ). The above calculation shows that if we must make a `50,000 profit and are only able to make 500 chairs in a month, the price that will allow us to meet that goal and stay within our production constraint is `270. Obviously, charging anything over `270 would insure meeting the profit goal. However, there is a ceiling price above which Reliable will have priced themselves out of the market. The market-ceiling price is unknown without further market research. Expansion Decision Suppose Reliable Chair needed to expand its warehouse facility by renting additional space. The monthly rent for the new building is `5000. If nothing else changes, how many chairs must Reliable now sell to meet its profit goal? First, recognize that the new rental cost is going to increase Reliables fixed costs. We shall assume, in this case, that all other variables remain unchanged. The values in the profit break-even formula will now become: Profit + Fixed Costs + Variable Costs = Net Sales Revenue i. e. `50,000 + `39,950 + `100X = `250X Solving, we get, X = `599. 67 ~ 600 (approx. . So the `5,000 expansion is going to require that an additional 33 chairs be sold each month in order to maintain the profit goal. Or alternatively, another 33 chairs x `250 per chair = `8,250 From these calculations, we see that `8,250 in sales is necessary to cover the additional `5,000 in fixed costs and maintain the profit level goal. Note that this same type of analysis could be done for any plan ned expenditure that affected fixed costs. For example, a planned increase in advertising or a mandated increase in utility costs could also be handled using this analysis. These examples would increase the fixed costs. Raises given to personnel would increase either fixed or variable costs and possibly both.

This I Believe Essays

This I Believe Essays This I Believe Paper This I Believe Paper This I Believe: Isabel Allende: In Giving I connect with others. This Chapter really stuck out to me; by reading I found a lot connection. â€Å"In Giving I Connect with Others,† the title speaks for itself, but to elaborate and go in-depth, the writer Isabel Allende had a 28-year old daughter who was very sick, went in a coma and later past in 1992. Losing her daughter in her very arms was difficult for her. While in her process of grief she reflect over her life, she came to the understanding that she was still the same person she had been 50 years ago. She still had the zeal for life, falls in love easily, craves justice, and ferociously independent. Her daughter Paula lived a life of service. She spent her days volunteering at several facilities. She spent eight hours a day, six days a week helping women and children. She never had the money, but she needed very little. Paula’s passing was a very hard time for her mother to cope with. She had to let go of everything that might reminded her of daughter; everything from her voice, laughter, appearance, and also her spirit. Losing Paula was a cleansing experience for Isabel, she was forced to get rid of excess baggage and kept only what was essential and important. Paula taught her mother Isabel a very valuable lesson â€Å"don’t get so attached to anything†. I personally learned a lot from this chapter. I am always willing to help others in any way that I can. I always volunteer when there is an opening. So far I have volunteer in various locations such as Valley Rescue Mission, Feeding the Homeless, Clothing Bank, Teen Challenge, and etc. Growing up I have always learned that it is better to give than to receive. Because when you give to someone out of the goodness of your heart, you never know how much you’re giving meant to them. I am always cleaning out my closet ready to give to Goodwill and the Clothing Bank. I have always been taught that when you want to give something away, put yourself at the other end, if what you’re giving does not look presentable then don’t give it. Giving to the less fortunate is always heartwarming for me. I always love to see the smile on their faces when they receive. The term â€Å"Giving† doesn’t necessarily mean giving material things; it can also mean giving intellectually. Sharing your knowledge with others can also be helpful. For example, if you have more about a specific topic or subject and someone is struggling with that same area that you are proficient with, the best thing to do as a loyal person would be to help that individual and feed them with the same knowledge that you have so they can gain more understanding. There are many ways go give. The bottom line is when we give out of love and compassion the thought of receiving a â€Å"prize† or a â€Å"thank you† back should not matter. The prize should be the impact you made on the less fortunate and the happiness that you brought to them. Isabel said in the chapter, â€Å"what is the point of having experience, knowledge or talent if I don’t give it away? Of having stories if I don’t tell them to others, of having wealth if I don’t share it? We all have a lot to give; we cannot have that much inside of us that we refuse to share with others. Through giving we meet others; we connect with other people that we never knew existed. I am always ready to give to anybody, I never look for a thank you in return as long as they are happy and satisfied, that is all that matters to me, putting a smile on someone else’s face is the only thing that matters. â€Å"In Giving I Connect With Others. †

Masculinity in Paul Laurence Dunbar's The Sport of the Gods Essay

Masculinity in Paul Laurence Dunbar's The Sport of the Gods - Essay Example Regardless of race, class or even geographic location, Dunbar presents the white men’s model of masculinity as the only embodiment of manhood. Responsibility represents an important aspect of masculinity the novel points out. This responsibility requires men to be heads of households and take care of their family. In fact, the South expects its men to be strong and hardworking in order to manage and secure their family needs. For instance, Maurice Oakley, a white man who owns a plantation, believes in this principle and urges his employees to follow his example. Married to Leslie Oakley, a docile and obedient woman who respects her southern values, Mr. Oakley fully plays his role. He especially encourages Berry Hamilton, his butler, to get married: It is then possible to see how Oakley's desire for Berry to find a wife (as he has found one) necessitates that Berry find a wife that is like his, one that embodies the role of an "appropriate" wife and has the disposition that wil l allow Berry to be the head of the household--or in this case, the house in the back of the "big house." Ultimately, Oakley wants Berry to become a black version of himself within the constraints of his own household. (Tsemo) Mr. Oakley wants his servant to marry a woman who will obey and respect him so that he can become a head of household. As the landlord, he urges his employees to follow his steps. When Berry Hamilton marries Fannie, he fulfills Mr. Oakley’s wish and becomes himself a head of household with all the responsibilities and expectations involved. Even though the two households differ because of the social status involved, both men exercise some authority over their wives. Despite their different racial and class background, their southern roots grant them power over their wives who also accept and even expect such role. Mr. Oakley and Berry not only share this privilege their gender grants them over their wives but they also share the same values. Born and ra ised in the South, they believe in the same set of principles and rules of conduct. Berry even raises his children, Joe and Kit, to respect and cherish these values as they grow up. Already a hardworking and trustworthy servant, Berry emulates his employer in his deed, actions and values (Tsemo). Despite their different social status, Berry even tries to follow Oakley’s economic principles by putting aside some money after his family expenses have been met. This economic organization allows him to live decently and save his family from need compared to other black men struggling to survive. This mild success costs him the envy and jealousy of the African American community that accuses him to imitate white people’s way of life. Even though both Oakley and Berry share the patriarchal powers they believe in, some of Oakley’s beliefs will ultimately cause Berry’s destruction. Accused of stealing money from Oakley’s cabinet, Berry is sentenced to 10 ye ars of prison. He therefore loses his head of household status as he leaves his helpless wife and children. This arrest affects his dignity, his reputation and even his manhood. The Southern Values he so much believes in fail to protect and save him and actually makes him an easy target for the accusation. Despite his 20 years of devoted and loyal service to Oakley, his race and class render him a suspect of a crime he did not commit. Convinced of his innocence, the loss of his freedom comes as a surprise.

Consumer Brand Relationships Literature review Example | Topics and Well Written Essays - 2000 words

Consumer Brand Relationships - Literature review Example In this framework the definitional association is also pertinent. Linking human personality with brand image is not, though, an easy undertaking. The difficulty that psychologists face in determining and assessing personality equally becomes an issue for people who study the art of brand imaging (Bradley, 2010). It is not unusual, therefore, that those who identify brand image by alluding to human personality do not try to identify the latter concept in any more comprehensive way. They just suggest that goods possess behavioural images, or they centre in on some markedly human factor like age, gender or social caste (Batra, Ahuvia and Bagozzi, 2008). Fig. 2 - The determinants of customer-brand relationships (Martensen and Gronholdt, 2010) Brand Relationships Brand relationship, an alleged interpersonal connection in a branding framework,  assumes that brands and customers are able to have a special connection through a shared communication system. Still, some critics have stated th at a brand relationship cannot really be said to reflect an interpersonal association because of the fact that the key components in interpersonal relationships like interdependence and intimacy are lacking. Even though research has in the past revealed that consciousness actually decides how people perform their daily duties, evidence shows that behaviour can actually be in accordance with the pursuit of individual objectives where cognisance is induced (Carroll and Ahuvia, 2006). However, the function of human consciousness is not always obvious a consumer and brand relationship situation. This suggests that the lack of consciousness can actually stop people from value their  relations in a suitable manner. For example, the related members of a... In the present extremely competitive business field, singular images or one-way messages are no longer relevant in capturing and holding consumer interest. A brand’s value is connected to the relationships it creates and the social connections it inspires among consumers who purchase the service or product. The task of managing such extensive relationships that seem to cover every aspect from the production of a product to its consumption is what most marketers are occupied with. If its creators and marketers have taken care to ensure the existence of such relationships, a brand can actually stop being seen as a mere product to become a platform for the shared experiences of its consumers, thus generating more revenue. Defining a brand’s social nature means considering what consumer’s expectations about a certain brand are and how to encourage the consumers to have even loftier expectations in future. Marketers such as eBay and IKEA, for example, are some of thos e that are at the forefront in intentionally inducing a desire for less acquirement of phenomenal experiences with goods or even the products themselves, for more lasting and consequential varieties of fulfilment.

Statement of Purpose Essay Example for Free

Statement of Purpose Essay The ensuring letter of motivation is meant to put forth my aspiration to pursue my career through Master’s in Mechanical Engineering at your esteemed university, as well as description of my plans subsequent to my graduation. In this ever changing world of Engineering and Technology, passing day makes them obsolete, I want to attain the highest level of education and transcend new scope for research in Mechanical Engineering. This has always fascinated me and I am keen to continue my academic pursuit in this field. Personally, I have always cherished a dream to become an Engineer, a dream that was innate and developed slowly over the years. Right from my school days, I found myself fascinated by the intricacies of mathematics and physics, which spurn their web of aura around me, a web that I sought to unravel in countless problems solving sessions I have always felt a strong need for achievement, which has been the motivating force behind whatever I have achieved in my academic career. I have received grades with magna cum laude both in my 10th and 12th grade. see more:sop for canada student visa Engineering, at this point of time, seemed as a natural extrapolation of my abilities and interests. With good grades I enrolled in the discipline of Mechanical engineering at â€Å"Shree Devi Institute of Technology (SDIT), Mangalore†. As an undergraduate student at â€Å"SDIT†, I have completed my course with discipline and hard work. I plan to apply the same determination that made me a balanced person in life in my future Engineering career. I have focused my time on education and am seeking the admission for Master’s in Mechanical Engineering in your Institution. My passion for CAD/CAM started from the First year of my Engineering itself when I got 121 out of 125, securing first position in class for, â€Å"Computer Aided Engineering Drawing (CAED)†. This and the â€Å"CADD Quest scholarship† motivated me to join at CADD CENTRE, Mangalore in 2011 where I completed my â€Å"Master diploma in product design and analysis† and got myself well acquainted with mechanical software’s namely AutoCAD, PRO/E, CATIAV5, PRIMEVERA and ANSYS. I have also completed AutoCAD – 2D from Manipal University (MICE). Even the vision of our Institute exclaimed â€Å"Engineers build Nation†. In this world where engineers are proliferating at an extremely high place, I felt that I had to achieve something different to stand in a good position in the competitive world pursuing this strongly in built motive, I did my last year thesis on â€Å"Design and Analysis of a Cargo Lift†. It was completed in collaboration with the CADD CENTRE. It is been done using Mechanical Design software’s, ‘CATIA V5’ for designing all parts of the cargo lift and ‘ANSYS’ for analysis in the different parts of the cargo lift. The project was based on the comparison between conventional design and the more effective design (Project Design). I have given some paper presentations during my graduation but ‘SNAKE ROBOTS-to the Rescue’ received due appreciation in which I explained the rescue mission in Japan during the tsunami, earthquake and Nuclear Shutdown where these rescue robots were utilized effectively to rescue people under such harsh circumstances. During my study at baccalaureate level I have nurtured a growing interest in CAE and Robotics due to its immense real life applications and wide scope of research. I want to expose myself to the outer limits of specialized knowledge of these fields. A thorough knowledge of computers is imperative for any engineer to be successful. I have taken computer courses in C-Language, C++. On the other end, Ergonomics surveying also proves that a lot of people suffer from ‘Technostress’, finding it difficult to cope with the ever improving technology, so I want to utilize my talent into preparing and designing something user friendly. Presently, India is not so advanced in Computational design and Engineering with very limited college’s providing platform for such mode of engineering, but it is improving and will have a wide scope in the near future. I have learned that German universities are a mark of excellence for Master’s programs throughout the world. Backed by my family members and to achieve my goals, I have considered to study ahead and have gained information about a lot of Universities which offer multiple Master’s programs in Germany through internet (daad. de). I have set up a top priority to attain admissions in one of the University’s and have also enrolled myself into German language course. The German universities have always pioneered the research in mechanical fields of interest. Being a prospective student for new challenging ideas, I believe that an opportunity for higher education in Germany would be a unique fortuity to test and prove my ability and also to enrich and broaden my keen with transition to a new setting. Finally, I would like to add here that my parents have always been a source of inspiration to me. They have set me personal examples and ideals for me follow. As a result of this, I believe that over the years, I have evolved into a person who can fit easily into a team and who appreciates the value of discussion and exchanges of ideas. I am largely self-regulated and am capable of independent work, given an opportunity. Moreover, my college years had a lot of ups and downs, being in a different state it was hard to adjust to life. Later, I started getting involved in various college activities and even made new friends. This eventually taught me to blend with people from different parts of India. I have participated in many events, inter-class as well as for inter-college. I was the captain of our college Football team. I was also part of our college Table-tennis and carom team. For me â€Å"fun is better than winning†, so it didn’t matter whether we won or lose, but it taught me about responsibilities, teamwork and group leading. We also had our own college group comprising of different talents that participated in other colleges, I used to be on the pencil-sketch, Rangoli( an art done on floor using powder color) and Treasure-hunting teams. I have attended technical fests like Sentia at MITE, Arodhya at NITTE. I with my friends had organized various events of our college for Inter- Collegiate Fest and Inter Class such as Treasure Hunt, Tech Quiz, and Football respectively. Lastly, I perceive that graduate study nurtures the seeds of learning sown during the course of undergraduate study. I work well under pressure and become engrossed in whatever subject I am pursuing. I would like to apply my skills as a Mechanical Engineering at your Institution. After having gone through the details of the research facilities available at German universities, I feel that they are very much catering to the fields of my interest and it is the right place to embark upon my academic career. Thank you for considering my application.

The Character of Casey in The Grapes of Wrath :: Grapes Wrath essays

The Character of Casey in The Grapes of Wrath John Steinbeck passionately describes a time of unfair poverty, unity, and the human spirit growth in the classic novel, The Grapes of Wrath. The novel tells of real, diverse characters that experience growth through turmoil and hardship. Jim Casy, a personal favorite character, is an ex-preacher that meets with a former worshiper, Tom Joad. Casy continues a relationship with Tom and the rest of the Joads as they embark on a journey to California with the hopes of prosperity. Casy represents how the many situations in life impact the ever-changing souls of human beings and the search within to discover one's true identity and beliefs. Casy, however, was much more complex than the average individual. His unprejudiced, unified, Christ-like existence twists and turns with every mental and extraneous disaccord. Jim Casy is an interesting, complicated man. He can be seen as a modern day Christ figure, except without the tending manifest belief in the Christian faith. The initials of his n ame, J.C., are the same as those of Jesus Christ. Just as Jesus was exalted by many for what he stood for and was supposed to be, Casy was hailed and respected by many for simply being a preacher. Casy and Jesus both saw a common goodness in the average man and saw every person as holy. Both Christ and Casy faced struggles between their ideals and the real world. Despite Casy's honesty, goodness, and loyalty to all men, he would not earn a meal or warm place to stay. Although Jesus had many followers, still others opposed his preaching until the very end.   These prophets attempted to disengage man from the cares of the world and create a high spiritualism that stemmed joy from misery. All the migrants found pleasures along their trips and kept their hope and spirit throughout the journey. Thanks to Jesus, the saddest, dullest existence has had its glimpse of Heaven. Casy once remarked, I gotta see them folks that's gone out on the road. I gotta feelin' I got to see them. They gon na need help no preachin' can give 'em. Hope of heaven when their lives ain't lived? Holy Sperit when their own sperit is downcast an' sad?" (page #)   Casy wished to reach out to others in spite of his own troubles. He wanted to give them sprit; hope and he wanted to rejuvenate their souls.

Poetry and Time Essay

Slessor’s compact oeuvre details his struggle with time. However, his longing to be out of time merely highlights the supremacy of time over human life and nature. Slessor utilises familiar elements in an attempt to gain a better understanding of what he cannot comprehend. Moments captured out of time are short-lived illusions, though despite their brevity Slessor believes they are beautiful. In Out of Time, the first two stanzas in the third sonnet are Slessor’s illusions of a moment captured in ‘the sweet meniscus of time’. This moment is captured as Slessor remains ‘with the golden undertow’, moving against time for a brief moment. In this moment out of time Slessor observes a scene, which defies not only time but also other conventions such as gravity as the gulls rise ‘backward’. Slessor’s language in these stanzas (‘golden’, ‘sweet’ and ‘bubbled’) are contrasted against the harsh words (‘stabbed’, ‘pale’ and ‘faceless’) through the remainder of the poem and show through contrast Slessor’s awe at the beauty of the ‘moment’s world’. However Slessor is taken back to reality at the end of the third stanza by ‘the suck of sea’. When Slessor is ‘Out of time’ his disobeying time which has power even over nature. Consequently, under the instruction of time, the sea brings Slessor back to the constraints of time and reality as it continues its relentless pursuit of fate. In Five Bells Slessor struggles to comprehend the death of his friend: Joe Lynch. At the beginning Slessor is under the illusion that he may be able to ‘hear the voice’ of the ‘dead man’ despite the impenetrable ‘pygmy strait’ that he knows exists between life and death. Slessor is frustrated that Joe is trapped in a flood of time and that he himself is taken away by time, leaving Joe ‘anchored’. Despite this knowledge Slessor employs illusions and imagery as he tries to break the constraints of time and reach his friend. The first illusion is that of Joe ‘beating at the ports of space’, ‘bawling’ and ‘crying out [his] name’. This is Slessor trying to imagine what is beyond death. The second illusion is Joe trapped at the bottom of the sea as the ‘wet presses it’s dark thumb balls in’ and the ‘sea pinks’ growing between Joe’s teeth. Despite these attempts to bring Joe back to life so Slessor can ‘hear his voice’, Slessor is unable to be out of time and reanimate his friend. Rather all he hears is ‘bells, five bells coldly ringing out’, bringing Slessor back to reality. Slessor very effectively utilises illusions and strong imagery in an attempt to break the constraints of time in order to capture a moment or remember a loved one. However, inevitably Slessor is forced back to reality by the power and necessity of time and it’s relentless nature. Time is continuous; its relentless nature causes Slessor to leave memory behind as he is swept up in the ever-continuing tide. Out fo Time is structured as a poem composed of 3 linked sonnets, the first sonnet ends with ‘the golden undertow’ and the second begins with ‘the golden undertow’. This linkage is consistent throughout the remainder of the poem, with the last line of the last sonnet linking to the ‘yachts’ in the opening line of the first sonnet. This structure very effectively portrays Slessor’s belief that time is relentless as it continues onwards. Similarly, Slessor has used Iambic pentameter throughout the poem so that it is read consistently. This creates a measured rhythm and a sense of urgency that portrays time is measured and hurried. It is for this reason Slessor is unable to remain ‘out of time’ as we must obey time and time must continue in its pursuit of fate. Though Dutton claims of Five Bells, ‘the time of this poem is quite different to the time of all the others’ Slessor still discusses the continuous nature of time in this poem. He describes time as ‘moved by little fidget wheels’ consistent with Out of Time in its suggestion that time is measured. Slessor utilises the sea to comment on times continuous nature. This is appropriate as Slessor is very familiar with the Harbour and water and using this element helps him and his readers to grasp a better understanding of the incomprehensible. Joe and those dead are described in a metaphor of weed, as Slessor suggest ‘time bends the weed’ continuing on, whilst leaving Joe and the weed in it’s wake. Similarly, he states the ‘tide is over you’ and ‘the waves go over you’, using the constancy of a waters tide to effectively portray times continuous nature. Slessor effectively conveys his longing to be ‘out of time’ through his poetry. Although in exploring this using illusion he realises the continuous nature of time means that one cannot remain out of time for long periods of time.