Types of non-controlled variables, Managerial Accounting

Assignment Help:

Types of Non-Controlled Variables

a) Parameters:

These are input variables that for a given simulation have a constant value. They are factors which help specify the relationship between other variables e.g. in pdn simulation the time taken for routine maintenance, the cost of stock-out, etc.

b) Status Variables:
Status variables may be used to specify the days and seasons to be used in a simulation e.g. demand may be affected by the day of the week

c) Output Variables:
These are the outcomes of the simulation. They occur from the computations and tests executed in the model. The output variables should be carefully selected to reflect the factors that are critical to the real system being simulated and they should associate to the objectives of the real system.  E.g. the output variables for an inventory simulation would include: Cost of holding stock, number of stock-outs, number of unsatisfied orders, number of replenishment orders, and cost of the re-ordering etc.


Related Discussions:- Types of non-controlled variables

Describe breadth indicators and market sentiment indicators, Describe bread...

Describe breadth indicators and market sentiment indicators? 1. Distinguish among technical and fundamental analysis. As well explain essential concepts underlying chart analys

PRATICAL PROBLEM, The standard cost of chemical mixture ~ PQ’ is as follows...

The standard cost of chemical mixture ~ PQ’ is as follows: 40% of material P @ Rs. 400 per kg. 60% of material Q @ Rs. 600 per kg. A standard loss of 10% is normally anticipated in

Monitor, Monitor Let's start by having you think about the controlling ...

Monitor Let's start by having you think about the controlling your car (aka "driving")! Your steering, acceleration, and braking are not the random things to be done; they are

Directing, Directing There are number of good plans which are never rea...

Directing There are number of good plans which are never realized. To realize a plan it requires the initiation and   direction of the number of actions. Often, thes

Calculate earnings per share, EMERALD LTD is planning an expansion programm...

EMERALD LTD is planning an expansion programme,which will require Rs 30 crores & can be funded through one of the following 1.issue further equity share of Rs 100 each at par.

Explain the techniques of performance budgeting, Explain the techniques of ...

Explain the techniques of performance budgeting It will also be useful to examine the three major aspects of this technique: Structural aspects : the structural aspects inv

Determine abc system and service organizations, ABC System and service orga...

ABC System and service organizations The ABC system has been taken up as applied to a manufacturing organizations with the same efficiency. One basic characteristic of service

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd