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Total profit means the total revenue excluding the total cost of the certain products.
Average profit defines the profit which comes and achieved after selling each unit. Total revenue/quantity is average profit.
Marginal profit defines the extra profit which an organization achieves.
Marginal profit is change in total revenue/change in quantity.
Incrementalism defines the doings and aim which takes little time but it is done in small small steps.
Marginalism defines the additional usage and extra benefit which one has achieved from his incremental changes. It is a very powerful technique to deal with the problems.
Thomas Crown expects to earn the following stream of annual income for the next four years:- $41,000; $45,000; $38,000 and $50,000. Although he has adopted the Pay Yourself First s
Bull Bay Ltd. Manufacturers two types of surfboard, "Winner" and "Surf King", whose selling prices are $300 and $900 respectively. Each surfboard passes through two manufacturing d
what is cost
annual usage rs 160000@ 40 per unit, cost of placing and receiving one order rs 200:annual carrying cost ; 25% of inventory value
what are the classifications of labour costs? what is employee psyche?
reasons for standard costing card
Good Food Company is a local manufacturer of instant noodles. Established in 2005, their business has been growing steadily. Their products, which are available in 3 flavors, are s
What is an advantage of using absorption costing? A. It permits a business to calculate the break-even point for production. B. It permits a business to calculate the total c
Purposes of standard cost accounting connection - suppose you were a management consultant and the client asked you the advantages and disadvantages of using standard costs and cos
PROFIT VARIANCES Sales variances are important as they have a direct bearing on profits earned by the organization. thus, they can be used as the basis of determining profit
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