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Explain Break Even Analysis.
Break Even Analysis: This Analysis implies that at several points in the operations, total revenue equivalent total cost. This analysis is concerned with finding the point at which costs and revenues agree exactly - therefore the term 'Break even point'. The given figure portrays the Break Even Chart.
Breakeven point is the volume of output at that neither a loss is made nor a profit is incurred. This analysis can be carried out graphically or algebraically as given in the above diagram.
The given problem can be expressed as an LPP as follows: Let X i represent the number of units shipped from plant to warehouse with Z representing the total cost we
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Who was the founder of Scientific Management? Ans: The founder of Scientific Management is F.W. Taylor.
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