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Dynamic programming
It is an extension which finds solutions to problems involving a number of decisions which have to be made sequentially. For example, the amount of a product to be made next month may depend on the amount sold this month and so on.
Thus dynamic programming is a quantitative technique which divides a given problem into stages (or sub-problems which are interrelated). Here we attempt to find a combination of decisions which will maximize overall effectiveness.
Usually, we work backwards from the natural end of the problem until the initial problem is finally solved (as in the decision trees).
The decision made at each stage influences the next stage. This method is also termed as recursive approach.
Dynamic programming applications:1. Manufacture and distribution troubles.2. Organizing inventory control.3. Resource allowance.4. Substitution and maintenance troubles.
Managerial Accounting Before going to Managerial Accounting let us discuss a bit about Financial Accounting. Financial accounting is concerned with reporting to the external pa
1. Compute the predetermined overhead rate.
Direct materials,4yard at$3.50per yard...$14.00 Direct labor,1.5direct labor hours at $12.00 per direct labor hour....$18 Variableoverhead,1.5 direct labour hours at $2.00 per dire
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tell me how go about charging for your services
How many forms of break even charts?
Consider the following quality data for three different manufacturers of automobile weather-strips: Weather-strip Bulb Dimension Specification y=20 +or- 4mm
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