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Types of Non-Controlled Variablesa) Parameters:
These are input variables that for a given simulation have a constant value. They are factors which help specify the relationship between other variables e.g. in pdn simulation the time taken for routine maintenance, the cost of stock-out, etc.
b) Status Variables:Status variables may be used to specify the days and seasons to be used in a simulation e.g. demand may be affected by the day of the week
c) Output Variables:These are the outcomes of the simulation. They occur from the computations and tests executed in the model. The output variables should be carefully selected to reflect the factors that are critical to the real system being simulated and they should associate to the objectives of the real system. E.g. the output variables for an inventory simulation would include: Cost of holding stock, number of stock-outs, number of unsatisfied orders, number of replenishment orders, and cost of the re-ordering etc.
opening stock 19000 closing stock 21000 sales 200000 gross profit 25% on sales calculate stock turnover ratio
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
What is the correct formula for Post Cost?
POINT ESTIMATE OF PROBABILITIES This approach requires a number of different values for each of the uncertain variables to be selected. These might be values that are reasonabl
During 2010, Jackson Company estimated that its manufacturing employees would work 80,000 direct labor hours. During the year the company actually worked 75,000 direct labor hours.
Prepare two tables showing net profit, residual income and return on investment for each year of the project and also net present value (NPV) for: (i) The BEST OUTCOME; (ii) The
1. Compute the predetermined overhead rate.
John Doe, MD A Business Simulation This simulation covers the transactions completed by John Doe, MD, a medical service business, which began on July 1 of the current year. Dr. D
Explain Out of pocket cost A cost which will have to be paid to outsides as against cross such as depreciation, which do not require any cash payment this cost is relevant in t
Management Accounting Influence (A) Transfer pricing and performance measurement relies upon the judgment of the management accountant to make a suitable choice of approach
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