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.
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When labor was free, in that case this purely competitive firm as in illustrated graph would hire. (1) 600 workers. (2) 700 workers. (3) 800 workers. (4) 900 workers. (5) 1000 workers. Discover Q & A Leading Solution Library Avail More Than 1437868 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1960870 Asked 3,689 Active Tutors 1437868 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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