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COST PROFIT VOLUME ANALYSIS
Cost profit volume (CVP) analysis is an essential tool for profit planning. It can be explained as - ' a managerial tool showing the relationship among various ingredients of profit planning, that is, cost (fixed and variable), volume and selling price of activity. It presents information regarding-
1. Quantity of production and sales for a target profit level
2. Behavior in relation to volume
3. Amount of profit for a projected sales volume
4. Sensitivity of profits due to variation in output
5. Volume of production or sales, where the business will break even.
standard hours = 5000 standard wages = Rs.3/hr actual hours worked = 5600 hrs actual wages paid = 17920
Importance of Variance Analysis Variance analysis is aimed at getting practical pointers to the purposes of off-the -standard performance hence management can improve operatio
Decision Making Nature of Decision-making Decision-making may fall into any type of the following categories as: 1. Short run operational decisions 2. Short run t
The level of activity at which total revenues eqivalent total costs. A point at which there is no profit and no loss.
distinguish between bin card and store ledgre
a. What are the major equity and/or debt securities investments? What amounts are reported in the balance sheet? How significant are those amounts to the company's overall
Overhead Costs Introduction Overhead costs may be defined like the net cost of indirect materials, indirect expenses and indirect labour. They may happen or be charged to
DIFFERENTIAL COSTING Marginal costing is often confused with differential costing. The word 'DIFFERENTIAL COSTING' means 'a technique used in the preparation of adhoc informati
How to calculate adjustments
Material Price Variance (MPV) This may be described as the difference amoung the actual price and the standard price of the materials consumed. MPV = Actual quantity used (S
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