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Cost Behaviour
"Profitability is only around the corner." This is a general expression in the business world; you might have heard or said this yourself only. But, the reality is that number of businesses doesn't make it! Business is sturdy, profits are illusive, and the competition has a habit of moving into areas where profits exists. Sometimes, business owners become frustrated because of the revenue growth seems to bring the on waves of additional expenses, even to the point of going towards the back.
How does one sensibly consider the viability of the business? This is perhaps the most essential business assessment a manager should make. Most of us are taught from an early age to perform our best and not give up, even in the face of adversity. And, there are countless stories of businesses which struggled to survive their infancy, but went on to become extremely successful firms. But, it is equally vital to note that some business models won't work. You probably have heard tongue-in- cheek story of the car dealer who said he loses money on every sale but makes it up on the volume. Certainly, the math just won't work. A good manager should learn to use information to make informed decisions about which business prospects to follow. Managerial accounting methods/techniques provide techniques for evaluating the viability and the ability to grow or "scale" the business. These techniques/methods are called cost-volume-profit analysis (CVP).
Quicksilver Compnay has set the follwoing standards for one unit of product: Direct material Quantity: 6.2 lbs per unit Price per lb: $11 per lb Direct Labor Quantity: 6 hrs
The following information is available for the automotive division of Ford Motor Company for 2009. The company uses the LIFO inventory method.
The following details were extracted from the standard cost card of a component: Raw Materials 2.82 Kgs @ Rs.4.80 Kg. Direct Labour Type I 6
list and explain all the procedures of material control
2. Blue-Jay Sporting Goods is a start-up company that expects to earn $3.00 per share next year. Since the firm currently retains 100 percent of earnings to finance future grow
The activity driver for the shipping activity is the number of orders shipped. Product A uses 20 orders and Product B uses 60 orders. Calculate the consumption ratios for each prod
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A small company employing around 25 people manufactures and sells anthropometric measuring equipment - equipment used mainly in hospitals to measure the height and other dimensions
The total demand (marginal benefit) curve for visiting Yosemite is as follows: Price = 5000-10*NumberOfTrips -10*TonsOfVisibleTrash. a. Suppose the quantity of trash=100 ton
Material Cost Control Therefore Materials form an important cost of output units and that should be controlled. Material Control is more than merely recording the accounting
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