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1. Explain the modern control methods with examples. 2. What are the reports produced for performance measurement? Demonstrate.
meaning standard costing
Learning and Spillovers The cost of a value activity can decline over time due to learning that increases its efficiency. The methods by which learning can lower cost over tim
The Simplex Method In the graphical solution the optimum solution is always associated with a corner (or extreme) point of the solution space. The simplex method is based funda
identify and explain the many classification of costs for planning, control.performance evaluation and decision making.
Recommend whether marginal or absorption costing should be use for internal monthly reporting
Characteristics of standard costing 1) Flow of information : in a standard costing system cost information flows in a straight forward manner as material is requisitioned and
Alternative performance measures There are various measures that can be used to measure performance of a decentralized company. The major ones are: • Return on Investmen
Cyclic Chains: In Markov Chains the current state of the system depends on all previous states. It is a stochastic process. Sometimes transition probability matrices are diff
Service time-probability distribution curve A common example is that service times follow an exponential probability distribution i.e. y=e -x Service channels - t
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