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Cost volume profit analysis
Meaning and definition
Cost volume profit analysis is a technique for studying the relationship between cost volume and profits . profits of an undertaking depend upon a large number of factors. But the most important of these factor are the cost of manufacture volume of sales and the selling prices of the products.
In the words of herman c . heiser the most significant single factor in profit planning of the average business is the relationship between the volume of business costs and profit . the CVP relationship is an important tool used for the profit planning of a business .
Human behavior and budgetary control An important feature of control in business is that control is exercised by managers over people. Their attitudes and response to budgetary
Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making
Correlation coefficient (r) Correlation coefficient measures the degree of association between two variables such as the cost and the activity level. r = nΣxy - Σx Σy
prepare all budgets
Feedback Control System Feedback is information about actual achievements or actual results produced within the organization (e.g. management control reports) with the purpose
Salialailai Ltd manufactures water tanks for different sizes for use by industrial customers. The company uses a job costing system, in which manufacturing overhead is applied on t
Advantages of Transfer Pricing (a) Transfer pricing is similar to cost apportionment and allocation in that values of one department are passed to another. For cost apportionme
Cost comprise impact Some of the policy choices which tend to have the maximum impact on cost comprise: Product performance, configuration, and characteristics Mix and
Seasonal Variations : Commodities along with seasonal demand results in raised level of working capital requirement. It could be offset through scaling down operations throughout t
what are characteristics of relevant cost?
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