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Total profit means the total revenue excluding the total cost of the certain products.
Average profit defines the profit which comes and achieved after selling each unit. Total revenue/quantity is average profit.
Marginal profit defines the extra profit which an organization achieves.
Marginal profit is change in total revenue/change in quantity.
Incrementalism defines the doings and aim which takes little time but it is done in small small steps.
Marginalism defines the additional usage and extra benefit which one has achieved from his incremental changes. It is a very powerful technique to deal with the problems.
Cost sheet is a declaration of cost for a product for given period of time.
Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings (the corporation uses the nearest full
Determine Opportunity Costs A company has material B in stock that originally cost Shs. 5000 for the 1000 Kshs in stores. The material is missing over from an old purchase ord
Flexible budgets provide different information than static budgets. Discuss some of these differences. Is a flexible budget always better? Are there times when you’d recom
Q. 1. The 31st December 2009 trial balance of Anika Co. reported the following information. Dr. Cr. Allowance for Bad Debts........................... $1,300 During the year 201
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
Features and Procedures of Job costing Features of Job costing Product is against the customer's order and not on job stocks. Every job has its own characteristics and ne
Handy-Man Services is a repair-service company specializing in small household jobs. Each client pays a fixed monthly service fee based on the number of rooms in the house. Records
Stine Company uses a job order cost system. On May 1 st , the company has a balance in Work in Process Inventory of 3,500 and two jobs in process: Job No. 429 $2,000, and Job No. 4
Factors affect Decision Making These decisions need consideration of factors as like A. The level of market possible to be available in future B. The strategy that compe
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