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SIMULATION MODELS
Simulation is a method of analyzing a system by experimentally duplicating its behavior. Management accountants can be able to make meaningful inferences concerning the operation of some real-world system by constructing a model of the system and then experimenting with the model. If the model is an adequate representation of the real system, a study of the responses of the model to various decisions will give considerable insight into the effects of implementing such decisions in the real system.
Simulation is used where analytical methods are not available or would be very complicated. E.g. in inventory control problems, production planning problems, corporate planning, and queuing problems etc.
Select the cost driver(s): This might also be termed to as independent, explanatory or predictor variable. A cost driver can be stated as any factor whose change causes a chang
Moore Company uses process costing. The following information was available for October: During October, 1,000 units were started, and costs incurred during the month were
Procedure of material acquisition A stores record is maintained into which the quantity and value of materials received is entered. Issues of materials to production are made b
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 is the definition of internal controls
BENCH MARKING In the current business environment, organizations are under a lot of pressure to improve performance and that of their divisions or subsidiaries. Bench marking i
Calculate the charges for single and double rooms assuming that the authority wishes to make a RM10, 000 profits an accommodation
EVALUATION OF THE REGRESSION MODEL The regression equation calculated above was based on the assumption that cost varied with the units produced. However, a number of different
full explaination with diagram
contribution margin
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