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COST PROFIT VOLUME ANALYSIS
Cost profit volume (CVP) analysis is an essential tool for profit planning. It can be explained as - ' a managerial tool showing the relationship among various ingredients of profit planning, that is, cost (fixed and variable), volume and selling price of activity. It presents information regarding-
1. Quantity of production and sales for a target profit level
2. Behavior in relation to volume
3. Amount of profit for a projected sales volume
4. Sensitivity of profits due to variation in output
5. Volume of production or sales, where the business will break even.
When implementing ABC, once a company has identified business activities and their costs, the company will probably: A) determine a simplified single cost allocation rate B)
Assignment of Variance in Variance Calculation In variances calculating, the calculations require to be detailed sufficient hence the responsibility for the variance can be a
The following data (in thousands of dollars) have been taken from the accounting records of Barn Burner Corporation for the just completed year. Sales
Where the liabilities are identified but the amounts cannot be precisely found, we estimate the liability and give for it as a liability. A common illustration is income tax payabl
What conclusion can you draw when comparing the total landed or delivered cost to the original purchase cost? What does this suggest about the importance of supply chain managem
examples of industries using this method
Labour Costs Definition of Labour Cost A labour cost refers to all the costs incurred in compensating the human resources used in the production process to provide a us
Standards in Standard Costing 1) The type of standard utilized basic, attainable, ideal, current directly affects the level of the variances that can arise, and the meaning th
is sale of salvage from capital project recorded as gain/loss or applied back to project costs
WHAT IS COST BOOK KEEPING?
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