Define the marginal, total and average profit, Cost Accounting

Assignment Help:

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.

 


Related Discussions:- Define the marginal, total and average profit

Determine the customer inter-arrival time, During the dinner hour, the dist...

During the dinner hour, the distribution of the inter-arrival time of customers at Burger Barn is predictable to be as follows: Inter-arrival Time Probabi

Goal definition and communication - standard costing, Goal Definition and C...

Goal Definition and Communication - Behavioural Aspects of Standards Goal Definition The desired goals should be clearly defined to individuals, departments and the organ

Determine expected net income and net cash flow, Elite Company is planning ...

Elite Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $300,000 cost with an expected four-year life a

Calculate direct materials used, Advertising expense $17,200 Wages expense-...

Advertising expense $17,200 Wages expense-assemblers 36,840 Depreciation expense-machines 21,480 Utilities expense-factory 21,120 Wages expense-lathe operators 23,480 Repair expens

IDLE CAPACITY, HOW DOES IDLE CAPACITY EFFECT COST BEHAVIOR PATTERNS AND FAC...

HOW DOES IDLE CAPACITY EFFECT COST BEHAVIOR PATTERNS AND FACTORY OVERHEAD METHODS?

Contract costing, Contract Costing It is a form of exact order costing...

Contract Costing It is a form of exact order costing, which is applied to relatively large cost units that normally get a considerable length of time to complete as an example

Prepare a statement to show the total overheads, QUESTION 1: PART A ...

QUESTION 1: PART A Swatathon Inc. has two production departments (A and B) and two service departments (maintenance and stores). Details of next year's budgeted overheads

Group bonus plan, Group Bonus Plan There are specific operations or j...

Group Bonus Plan There are specific operations or jobs that require to be done collectively via a group of workers, as an example of, continuous production work flows in asse

Cost components, Cost Components Companies which manufacture a product ...

Cost Components Companies which manufacture a product face an elaborated set of accounting issues. Additionally the usual accounting matters related with selling and administra

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd