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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).
a company wants to buy a new machine to replace on which is having frequent breakdown.............. .......... c-the models suitable for different levels for demand of product?
reasons for standard costing card
a factory operates a small canteen but its annual operation has consistently shown a loss:
Typical Causes of Labour Variances Labour Rate Variances a) Higher rates being paid than planned because of wage raise awards. b) Lower or Higher grade of work
Identify and explain many classification of costs for planning, control, performance evaluation and decision making.
why is there a need for cost accounting?
Allocation of Joint Costs Whereas two or more products of relatively high value emerge simultaneously from a single process, they are named as joint products. The processes s
A company started with $0 in direct materials, purchased $5,000 of materials, and ended with $300 in materials. Direct labor equaled $4,000. The applied overhead for the period was
Purchase of office supplies.
Determine Difference between Results Using Marginal Costing and Absorption Costing The overhead absorption rate for product X is Ksh.10 per machine hour. All unit of product X
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