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Explain the terms - maintenance and improvement
Maintenance; under the maintenance function, the management must first establish policies rules directives and standard operating procedures (SOPs)and then work towards ensuring that everybody follows sop the latter is achieved through a combination of discipline and human resource development measures.
Improvement: under the improvement function management works continuously towards revising the current standers once they have been mastered and establishing higher once improvement cab be broken down between innovation and kaizen. Innovation involves a deasic improvement in the existing process and requires large investments. Kaizen signifies small improvement as a result of coordinated continuous efforts by all employees.
Identification of decision packages - Zero base budgeting Each manager should break down his decision unit into smaller decision packages. Top manager may lay down the minimum
What are the limation of semi variable cost and how to overcome it?
how much is this service?
INTERPRATATION OF VARIANCE Controllability, Materiality and Trend are the interpretation of variance. The point of comparing flexed budget and real figures is to see what corre
Discretionary fixed costs and Semi variable costs Discretionary fixed costs are those which are incurred as a result of management discretion. These costs have two importan
Determine the cost according to normality According to normality: under this category cost may be categorized as follows: Normal cost: it is the cost which is normally i
opening stock 19000 closing stock 21000 sales 200000 gross profit 25% on sales calculate stock turnover ratio
State Factors determining Working Capital requirement.
underlying assumptions of breakeven analysis and the limitations of this.
What the traffic can bear pricing Pricing based on what the traffic can bear is not a sophisticated method. It is used by retail traders as well as by some manufacturing firms.
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