A country’s production possibilities curve relies on resources and technology.

A change in technology alters the combination of inputs required in the production process. An improvement in technology usually means that fewer and/or less costly inputs are needed. If the cost of production is lower, the profits available at a given price will increase, and producers will produce more.

An individual production shift in the PPF means that a change in technology or resources affects production of each product in different ways, creating a skewed shift. An inward shift in the PPF means that the production of both goods decreases because of a change in resources or technology.

Tinubu Ahmed

(B) Tax Deductible MPF Voluntary Contributions (“TVC”) To be deductible, the MPF voluntary contributions must be paid into a TVC account defined under the Mandatory Provident Fund Schemes Ordinance. You can only claim deduction for contributions made into a TVC account of which you are the account holder.

A high TVC count indicates a high concentration of micro-organisms which may indicate poor quality for drinking water or foodstuff. In food microbiology it is used as a benchmark for the evaluation of the shelf-life of foodstuffs.

TVC testing can also be used to assess the efficiency of the water treatment regime. High results in mains fed water coolers, for example, can indicate that they are not being cleaned properly or that the cleaning regime needs to be carried out more often.

The main difference between the two is that total count determines the count of all cells both dead and alive while viable count estimate the number of viable or live cells only capable of growing into distinct colonies.

A drinking water test looks at the overall number of bacteria present in the water that is able to grow – known as a Total Viable Count (TVC). Propensity to legionella testing – this is a general ‘catch-all’ where the TVC test is carried out at 30°C to show both environmental and pathogenic bacteria.

Production costs are expenses, such as materials and labor that your company incurs in the course of producing the product that you sell to consumers. In general, the lower your production cost, the higher your profit, or the amount you have leftover after you subtract your expenses from your sales revenue.

Fixed cost includes expenses that remain constant for a period of time irrespective of the level of outputs, like rent, salaries, and loan payments, while variable costs are expenses that change directly and proportionally to the changes in business activity level or volume, like direct labor, taxes, and operational …

Cost of goods sold consists of all the costs associated with producing the goods or providing the services offered by the company. They may also include fixed costs, such as factory overhead, storage costs, and depending on the relevant accounting policies, sometimes depreciation expense.

Cost of goods sold is typically listed as a separate line item on the income statement. Operating expenses are the remaining costs that are not included in COGS….Operating Expenses

• Rent.
• Utilities.
• Salaries/wages.
• Property taxes.
• Business travel.

Cost of goods sold (COGS) includes all of the costs and expenses directly related to the production of goods. COGS excludes indirect costs such as overhead and sales & marketing.

Operating expenses are the result of a business’s normal operations, such as materials, labor, and machinery involved in production. Overhead expenses are what it costs to run the business, including rent, insurance, and utilities.

COGS/COS includes both direct labor costs, and any direct costs of materials used in producing or manufacturing a company’s products. Cost of goods sold is subtracted from revenue to arrive at gross profit. In short, gross profit measures how well a company generates profit from their labor and direct materials.

When a company incurs rent for its manufacturing operations, the rent is a product cost. When products are sold, the rent allocated to those products will be expensed as part of the cost of goods sold.