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Decision-making is an integral part of all management functions. It is the process of choosing the among alternative courses of action. Managers have to spend a considerable amount of time and thought in making decisions.
Costs, which affect the managerial decisions, are called relevant costs. All types of costs are not relevant. Only the costs, which are futuristic in nature and differ among alternatives, are considered as relevant costs.
Differential cost analysis or differential costing is a special technique to help management to take decision. It shows how costs and revenues would be different under different alternative courses of action.
With the help of a technique like marginal costing, CVP analysis and differential analysis, management makes decisions like determination of profitable levels of production, make or buy, process or sell, purchase or lease, accept or reject new orders etc.
reasons for favourable or adverse variances i.e. prise usage, mix, yeild
Differnetial cost analysis uses
Analysis Various business decisions have recurrent themes: whether to the outsource production or to the support functions, what level of production and pricing to establish, w
What are the Advantages or uses of break even charts Computation of break even point or presentation of cost volume and profit relationship by way of break even charts has the
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,730 and two jobs in process: Job No. 429 $2,150, and Job No. 430
1. Explain the modern control methods with examples. 2. What are the reports produced for performance measurement? Demonstrate.
company jobcosting system
identify and explain cost classification for performance evaluation
Steps of choosing an accounting based performance measure Consider the overall goal of the organization as a whole. It is important to choose a measure of accomplishment that r
Case Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The compa
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