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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.
what areas can linear programming be applied in managerial accounting?
Maximum change in marginal Profit or Cost Just as we did in studying the permissible ranges for changes in resources, we are also interested in studying the permissible ranges
identify and explain the many classification of costs for planning, control,performance evaluation and decision making.
VALUE ADDED STATEMENTS Are intended to show how much wealth or value has been created by the company’s operations and how the wealth has been shared out to interested groups e.
Marginal cost or incremental cost pricing method: Here the company may work on the premise of recovering its marginal cost and getting a contribution towards its overheads. Thi
how long will it take to get answers after question are submitted
explain briefly variable cost, fixed cost and semi- variable in the production cost of a productor service, giving example for each
Explain product cost Product costs are those costs which are associated with and directly identifiable with the product. In other words, which are assigned to the product are p
solution.
Transportation model Table A more compact method for representing the transportation model than the linear equations is to use what we call the transportation tableau. It is a
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