Concept of marginal costing
In what condition the concept of marginal costing basically applied?
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The concept of marginal costing is basically applied in the subsequent condition: - Estimation of Performance: The Estimation of the performance of different departments or products can be measured with the aid of marginal costing that is depends on contribution generating capacity. - Profit Planning: This method throughout the computation of P/V Ratio aids the management to plan the activities in such a manner that the profit can be maximized. - Fixation of Selling Price: The method of marginal costing aids the management to fix the price in such a manner so that prices fixed can cover no less than the variable cost. - Make or Buy decision: Marginal cost analysis aids the management in buying or making decision. - Optimizing Product Mix: To maximize profits and raise sales volume it is essential to decide an optimized mix or proportion in that different product of a company can be sold. - Cost Control: Marginal Costing is a method of cost categorization and cost arrangement that facilitate the management to focus on the controllable costs. - Flexible Budget preparation: As the marginal costing mainly categorizes costs as fixed and variable costs that provides the preparation of flexible budgets.
Demand for labor of this purely competitive firm in given figure corresponds to: (1) line segment ab. (2) line segment bd. (3) line segment be (4) line segment df. (5) line segment dg. Q : Illustrates fundamental characters of Illustrates the fundamental characters of human existence given by Lionel Robbins?
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When a firm hires 1 unit of additional labor that increases output through two units, and marginal revenue is $100, the marginal revenue product of labor is: (w) $100. (x) $50. (y) $150. (z) $200. How can I solve m
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The demand for labor is less elastic when: (w) resource substitution is easy. (x) output demand is relatively inelastic. (y) wages are a huge percentage of total cost. (z) firms have more time to adjust to wage changes. Q : Unexpected increases in national income A firm is probably to reduce the number of workers this employs when there are: (i) reductions in the wage rate. (ii) increases in the price of the output. (iii) accumulations of specific training from workers. (iv) technological advances which encourage automation. (
A firm is probably to reduce the number of workers this employs when there are: (i) reductions in the wage rate. (ii) increases in the price of the output. (iii) accumulations of specific training from workers. (iv) technological advances which encourage automation. (
The income effect of a small change within the wage rate for that worker most strongly exceeds the substitution effect at a wage rate of: (1) $5 per hour. (2) $10 per hour. (3) $10 per hour to $25 per hour. (4) $25 pe
Formulate the Cross Elasticity of demand?
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