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Explain variable cost and fixed cost
Variable costs: costs that vary almost in the direct proportion to the volume of production are known as variable costs. The examples of such costs are direct material, direct labour and indirect chargeable expenses, such as electric power, fuel etc.
Fixed costs: costs which do not vary with the level of production are called as fixed costs. These costs are called fixed because these remain constant irrespective of the level of output. It must, though, be noted that fixed costs do not remain constant for all times. In fact, it in the long run all costs have a tendency to vary. Fixed costs remain fixed up to a certain level of production.
Under this method, approximated profit is calculated depends on transactions of the ensuing period. Afterward, decrease or increase in working capital is determined adjusting the e
Recommend whether marginal or absorption costing should be use for internal monthly reporting
BREAK EVEN ANALYSIS Break even analysis is mainly used to explain the relationship between the cost incurred, the volume operated at and the profit earned. To compute the breakev
Z or t Statistics If n ≥30 we use Z, if, n Ho: B = O that is, there is no relationship between X and Y HA: B≠ O There is a significant relationship between X and Y The l
Linear Programming This section introduces the general method called the simplex algorithm, which is designed to solve any linear program. The information that can be secured
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Cascade Water Company (CWC) currently has 30 000 shares of common stock outstanding, trading at a price of R42 per share.
what is the topic about? what are the practical implications? what are the practical criticisms?
Explain the tools of management accounting
Control Control includes a comparison of actual performance with the plan so that deviation from the plan can be identified and corrective action taken. It can be define
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