Date:17.06.2016, 10:24 Cost Centre A production or service location, function, activity or item of equipment for which costs are accumulated. Most HEIs have divided their institutions into cost centres for financial management purposes, these could be either academic departments/schools or support cost centres. Charge the entire variance to the cost of goods sold. This is the simplest method. Allocate the variance. Allocate the variance to the accounts for finished goods, work-in-process, and cost of goods sold, based on the ending balances in these accounts. Some common cost drivers that might be suitable to use are: headcount and/or academic/research FTEs - sometimes including clerical, administrative and technical staff; headcount and/or student FTEs, distinguishing between PGR, under-graduate and post-graduate taught students; square metres of usable space occupied.
The introduction is more narrowly focussed than the abstract. It states the objective of the experiment and provides the reader with background to the experiment. State the topic of your report clearly and concisely, in one or two sentences: Quick Intro.