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CONTINUOUS PROBABILITY DISTRIBUTION (USE OF NORMAL DISTRIBUTION)In reality the C-V-P variables might take any values in a continuous range. It could therefore be more appropriate to use a continuous probability distribution such as the normal distribution with an estimated mean and standard deviation. Estimates may be made of the expected sales volume, the expected selling prices, the expected variable cost and the expected fixed costs together with their probabilities.
It would therefore be possible to compute the expected profit and the likelihood that the company would break even or achieve a given target profit.
Explain the concepts of costs. A cost accountant is mainly concerned with the following cost concepts. 1. Concept of objectives: it is this concept that gives direction to
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Transfer pricing with third party consequences Transfer prices are used not only for internal record keeping and performance evaluation purposes. There are several settings
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Markov Properties 1) Transition probabilities are dependent only on the current state of the system i.e. provided that the current state is recognized; the conditional probabil
explain briefly variable cost, fixed cost and semi- variable in the production cost of a productor service, giving example for each
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
Interpretation of equity ratio As equity ratio show the relationship of owner funds to total assets higher the ratio or the share of the shareholders in the total capital of th
Production As you would suspect, effectively directing an organization needs prudent management of production. Because this is a hands-on process, and often entails dealing wit
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