Define Cost Volume-Profit relationship
Describe briefly Cost Volume-Profit relationship?
Expert
Cost Volume-Profit (or CVP) relationship is determination that studies the relationships among the subsequent factors and its affect on the amount of profits.
- Total sales amount and selling price per unit Total cost that might be in any form that is, fixed cost or Variable cost.
- Volume of sales
In easy terms, CVP is a management accounting instrument which signifies relationship among total sales, profit and total cost. Cost Volume-Profit relationship is one of the significant techniques of cost and management accounting. It is a powerful instrument that gives the entire picture of the profit structure and aids in planning of profits. It can as well answer what if type of questions by telling the volume needed to produce. This concept is applicable in all decision making regions, mainly in the short run.
In countries employing decentralized markets for nearly all decision making: (1) Private individuals select how most resources and goods are allocated. (2) Nonhuman resources should be individually owned. (3) Elaborate economic plans are planned and enforced by law. (
Illustrates the factors affecting Demand Forecasting?
Explain the term relatively inelastic demand.
The supply curve of labor which confronts a large but purely competitive industry is usually: (1) horizontal. (2) positively sloped. (3) backward bending. (4) vertical. (5) negatively sloped. Can a
Explain the Expenditure Method of Measurement of Elasticity.
States the term Demand Estimation.
Critics of “credentialism” believe which firms making employment decisions tend to rely much heavily on: (1) personal contacts. (2) past experience. (3) personality testing. (4) job interviews. (5) formal training and education.
If compared along with average high school graduates, in that case average Americans along with college degrees: (1) uniformly earn more at every point over their whole lives. (2) earn more primarily early throughout their careers. (3) earn more, but only later during
Illustrates the steps in formulating pricing policies in details?
I have a problem on perfectly price elastic supply curve that is given below: A perfectly price elastic supply curve is: (w) vertical. (x) horizontal. (y) positively sloped. (z) negatively sloped. Discover Q & A Leading Solution Library Avail More Than 1436845 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1935262 Asked 3,689 Active Tutors 1436845 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
18,76,764
1935262 Asked
3,689
Active Tutors
1436845
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!