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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.
Amanda Deal, president of XYZ, had recently finished an arduous round of meetings with her financial staff". Those meetings dealt with the details necessary to produce an accurate
Multiple Products, Selling Costs, and Margin Management Selling charge are oftentimes variable. For instance, a salesperson can be paid a designated percentage of entire sales
MARGINAL COSTING Vs DIRECT COSTING Direct costing is the method where only direct costs are measured while calculating the cost of the product. Indirect costs are met in opposi
Standard costing System has the following main advantages or benefits: 1. The process in itself often discloses inefficiencies, because the setting of standards requires a thoro
Calculate the equal monthly payments and the cost of financing on a 10-year mortgage. The cash value of the house today is $500,000. You are paying monthly at a fixed rate of 6% pe
7.14
EFFECTIVENESS AUDITING is one type of internal audit. Describe and evaluate this type of internal audit. What types of organisation would it be most useful for? Required: 1)
Definitions of manufacturing concepts Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used
Allocation of Joint Costs Whereas two or more products of relatively high value emerge simultaneously from a single process, they are named as joint products. The processes s
Martinez Corporation engaged in the following cash transactions during 2012. Sale of land and building $186,710 Purchase of treasury stock 42,130 Purchase of land 39,130
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