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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.
Which method of measuring costs associated with production is more widely used in practice A. Normal Costing B. Actual Costing C. Both are used equally D. Neither one
what is lean accounting
interaction with an expert/cost accountant to know the overhead absorbtion policies and procedure followed
The follow data relates to year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dire
Is there a way to figure out labor cost and factory inventory when no direct information regarding them is available.
WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS
Piece Rate System - Labour Remuneration However an employee is paid a fixed amount for all units produced irrespective of time in use; the wages payable are computed like fo
We have noticed that working capital is needed to finance that portion of current assets that is not financed through current liabilities. We also noticed that the investments repr
Multiple Products, Selling Costs, and Margin Management Selling charge are oftentimes variable. For instance, a salesperson can be paid a designated percentage of entire sales
While we are looking for sources funds it is other than natural to start searching from home. What do we have? During examining the requirement for working capital we could also ma
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