Define Cost Volume-Profit relationship
Describe briefly Cost Volume-Profit relationship?
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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.
When, for a specified output level, an absolute or perfectly competitive firm's price is less in that case its average variable cost, so the firm: w) is earning a profit. x) must shut down. y) must increase output. z) must increase price. Q : Purely competitive labor market is When this purely competitive labor market is firstly in equilibrium at D0L, S0L, a move to equilibrium at D1L, S0L would be inconsistent along with increases in: (w) the price of output. (x) labor productivi
When this purely competitive labor market is firstly in equilibrium at D0L, S0L, a move to equilibrium at D1L, S0L would be inconsistent along with increases in: (w) the price of output. (x) labor productivi
At any price of, the demand for a resource is fewer elastic the: (w) easier this is to substitute other resources for this. (x) harder this is to substitute other resources for this. (y) more elastic the demand for the output this produces. (z) greate
Within a graph along with output on the horizontal axis and whole revenue on the vertical axis, determine the shape of the total revenue curve for a perfectly competitive seller: w) U-shaped. x) inverted U-shaped. y) a horizontal line
Main determinants of wage differentials comprise: (1) general human capital requirements. (2) working conditions. (3) occupational crowding (4) specific human capital requirements. (5) All of the above. I need a go
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 : Explain the aspects of operational or Explain the aspects of operational or internal issues.
Explain the aspects of operational or internal issues.
From the fact which the average wages of women into the United States is lower than the average wages of men, we can estimate that women are: (1) discriminated against in hiring and pay. (2) less qualified workers than men. (3) less interested into wa
Suppose that the auto market started at the intersection of D0S0, and in that case automakers opened foreign assembly plants after discovering which competent foreign employees worked for minor wages. How would it influence the auto market?: (
Labor supply curves “bend backward” within response to overwhelmingly powerful: (i) marginal effort effects. (ii) income effects. (iii) wealth effects. (iv) derived supply effects. (v) substitution effects. Discover Q & A Leading Solution Library Avail More Than 1412871 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1959123 Asked 3,689 Active Tutors 1412871 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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