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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.
Attainable Standards and Current Standards Although the standard must be set high sufficient that achievable and it has to be worked for. Attainable standards must provide a c
weekly working hour 48 , hourly wage rate 15$ , price rate per unit 6$ , normal time taken per piece 36 minuets , normal output per week 220 pieces , actual output per week 275 pie
Suppose that $4 million is available for investment in three projects. The probability distribution of the net present value earned from each project depends on how much is invest
McDaniel Company manufactures 100-pound bags of fertilizer that have the following unit standard costs for direct materials and direct labor: Direct Materials (100 lbs. @ $1.00
Planned Actual Production 92,000 units 87,000 units
what is the direct cost
Pritchard Company manufactures a product that has a variable cost of $30 per unit. Fixed costs total $1,500,000, allocated on the basis of the number of units produced. Selling pri
Eckels Wares is a division of a major corporation. The following data are for the latest year of operations: Sales
XYZ Company is a family-owned bicycle manufacturing company located in Stow, Ohio. Until recently,it had maintained slow but steady growth in producing and marketing its only pr
A firm operates two plants with the marginal cost curves given by MC 1 = 50 + 2Q 1 , MC 2 = 90 + Q 2 . If the firm's total output must be 80 units, how much will it produce a
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