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Decision-making and non-graphical CVP analysis. Fosterjohn Press Ltd is considering launching a new monthly magazine at a selling price of £1 per copy
Explain how absorption costing can encourage managers to engage in behavior that is harmful to the organization.
The fixed production overhead absorption rate is £ 4 per units. What is the profit under absorption costing?
Prepare the budgeted profit and loss account for a month for Oath all Limited using absorption costing. Clearly show the valuation of any stock figures.
Define the term ‘profit-volume ratio" and explain how it can be used for cost-volume-profit analysis.
Describe the role of the cost accountant in a manufacturing organization. Explain whether you agree with each of the following statements:
Explain and discuss this statement, illustrating with examples of the classifications required for different purposes.
Business organization, and to discuss the alternative measures of cost which might be appropriate for each purpose.
Calculate the Economic Order Quantity. Using your answer to (a) above calculate the revised annual total stock costs for product X
Overhead analysis and calculation of product costs. A furniture-making business manufactures quality furniture to customers' order.
Define progress payments, architect"s certificates, retention money, cost of work certified and notional profit.
Prepare the relevant control accounts, costing profit and loss account, and any other accounts you consider necessary to record
Which of the following best describes the term ‘equivalent units' when using the FIFO method?
Describe five of the characteristics which distinguish process costing from job costing.
Equivalent production with losses (FIFO method). Adam, the management accountant of Mark Limited, has on file the costs per equivalent
Equivalent production and losses in process. A concentrated liquid fertilizer is manufactured by passing chemicals through two consecutive processes.
Establish the total cost of the output from the process. Calculate the profit per unit for each of the joint products, A and B.
Calculate the profit/loss per kg of product X and material B, respectively.Comment upon the marketing director's concern
Write short notes about the impact of variable cost, fixed cost and selling price on P/ V ratio, BEP and margin of safety.
How would you determine BEP by the graphical method. Explain the steps involved in constructing a graph, using an illustration.
Explain the significance of CVP analysis. How is it useful in the decision-making process? Enlist a few such areas.
What do you mean by "make or buy" decision? State the quantitative as well as qualitative considerations influencing "make or buy" decision.
What is the EOQ to the nearest whole unit? Moura uses the economic order quantity formula (EOQ) to establish its optimal reorder
Determine the number of orders per year that the company will place for item G. Determine the annual holding cost of the stock of item H
If cost of goods sold is 70% variable and total operating expenses are 60% fixed, what is the contribution margin under variable costing?