Explain master budget interrelationships

Reference no: EM13799030

1. Describe the total quality management approach to continuous improvement

2. Identify and give examples of each of the three basic cost elements involved in the manufacture of a product

3. Distinguish between period and product costs and give examples of each

4. Explain the difference between the financial statements of a merchandising company and a manufacturing company 4. Prepare a schedule of cost of goods manufactured in proper form

5. Explain the flow of direct materials cost, direct labor cost and manufacturing overhead cost from the point of incurrence to the sale of the completed project

6. Explain the components of contribution margin and net income and explain how changes in activity affect both

7. Compute the contribution margin ratio and use it to comput changes in contribution margin and net income

8. Show the effects on contribution margin of changes in variable cost, fixed cost, selling price per unit volume

9.compute break-even point

10. Use the CVP formulas to determine the activity level needed to achieve a desired target net profit figure

11. explain the concepts of "margin of safety" and "operating leverage"

12. Define budgeting and explain difference between planning and control

13. List and explain the principal advantages of budgeting

14. Explain master budget interrelationships

15. Prepare the following budgets: sales, production, purchases and cash

16. Distinguish and explain the difference between ideal standards and practical standards

17. explain how direct materials and direct labor standards are set

18. enumerate the advantages and disadvantages of using standard costs

19. compute the direct materials price and quantity variances and explain their significance

20. Explain how a manager would determine whether a variance constituted an "exception" that would require his or her attention

Reference no: EM13799030

Questions Cloud

Write a research paper about agricultural sustainability : Write a research paper about Agricultural Sustainability.

Discuss plato''s account of creation in the timaeus : Essay Four Plato's _Timaeus_ Write a 2-4 page typed essay in Word (double spaced, size 12 font) on one of the following topics. 1) Discuss Plato's account of creation in the Timaeus 2) Discuss the relationship between the soul and the universe in the..

How government or market itself to solve problem : Write about the cause and the effect which until today. Also, write about how the government or the market itself to solve the problem.

Write on supply chain management and decision tools : Write on supply chain management and decision tools with references

Explain master budget interrelationships : Explain master budget interrelationships

Similarities between the avocado and artichoke views : What are some of the differences/similarities between the avocado and artichoke views of the self?

Write summary of article toward an intelligence beyond mans : Write a summary of the article "Toward an Intelligence Beyond Man's" by Robert Jastrow.

What are the characteristics of a pc firm : What are the characteristics of a PC firm - demand and costs for Hot dogs side by side. Make sure to include the S.R. and L.R profits.

Suppose the demand curve for a monopolist is qd : Suppose the demand curve for a monopolist is QD = 500 - P, and the marginal revenue function is MR = 500 - 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a. Find the monopolist's profit-maximizing output and price...

User Account

All Pages