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state or select the dependent variable ywill the cer be employed to estimate price labor hours cost material cost or some other measure of cost will
steps of developing a cost estimating relationship firmly speaking a cer is not a quantitative method it is a framework for using suitable
steps making decisiontreea decision tree is a graphical representation of decision process indicating decision alternatives states of nature related
multi-stage decision making under risk the use of decision treessequencing is concerned with the selection of an appropriate sequence or order of
riskrisk includes circumstances or events that may or may not take place though whose probability of occurrence can be predicted from the past
decision making environmentthere are four main environments within that decisions can be done these arebull certaintybull
implementation of the decisionsonce alternative courses of action have been chosen they must be implemented as part of the budgeting procedure the
select appropriate alternative courses of actionin practice decision-making includes choosing among competing alternative courses of action and
illustration of short-term decisionsthese are to a significant extent determined by the excellence of the firms long-term decisions illustration of
gather data about alternativeswhen potential areas of activity are specified management must assess the potential growth rate of the activities the
the search for alternative courses of actionthe second stage of the decision-making model is a search for a range of possible courses of action or
organizing1 it is the establishment of the framework within which the required activities are to be performed and the designation of who should
controlcontrol includes a comparison of actual performance with the plan so that deviation from the plan can be identified and corrective action
planningplanning is the fundamental function of the management by means of which the managers decidewhat goals are to be accomplishedhow they will be
attributes of good information1 information is anything that is communicated and is sometimes said to be processed data it is data processed in such
management accounting 1 which is concerned with provision of information to people within the organization to help them make better decisions
definition of accountingaccounting is the procedure of recognizing measuring and communicating economic information to allow informed judgments and
mno ltd produces and sells for 25 an office machine for which there is a heavy demand which the company is prevented from meeting because of a
opening stock unit were 8500 and closing stock units were 6750frofit of 61200 using managerial costingfixed overhead absorbed rate was 3 pr unitwhat
barker company has a single product called a zet the company normally produces and sells 80000 zets each year at a selling price of 40 per unit the
direct materials4yard at350per yard1400 direct labor15direct labor hours at 1200 per direct labor hour18 variableoverhead15 direct labour
identify and explain the many classification of costs for planning controlperformance evaluation and decision
exercises 2-1 2-2 2-3 2-4 problem 2-14 i didnt write every question down out of the book just questions 2-1 and 2-2 exercise
pantheon company has prepared the following forecasts of monthly sales july august september october sales in