MARGINAL COSTING Introduction This paper explores the use of cost accounting information for decision-making purposes. DEFINITION OF KEY TERMS Marginal cost: This is the cost of a unit of a product or service‚ which would be avoided if that unit or service was not produced or provided Break-even point: This is the volume of sales where there is neither profit nor loss. 1 9 6 COST ACCOUNTING S T U D Y T E X T Margin of safety: This is the excess of sales over the break-even volume in
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Define the relationship between Ethnicity‚ Census and Identity formation We live in a strongly progressing world and usually from the day we are born‚ we believe we are free to define our destiny. But is this entirely true if from the very beginning we are defined and included in a society of which we are ignorant? As we grow‚ so does our erg to find who we are and where we belong‚ as to say identify ourselves. This willingness to discover “the inner self” leads us to a search of “others like
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maximization are: a) Difference between total revenue (TR) and total cost (TC) is maximized; b) Marginal revenue (MR) should be equal to marginal cost (MC) Explanations: If we assume that the company is facing a downward – sloping curve and it produces just one single product a) Profit = TR – TC. Profit will increase if TR increases and TC decreases. If company wants profit maximization‚ it should be TR maximization and TC minimization. The maximized difference between TR maximization and TC minimization
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Advisor and the consultancy assistance of McKinsey Strategic Department. This report covers the current situation of circulations and subscriptions regarding the digital era as well as available technologies for newspaper publishers to increase their revenues. Also includes an evaluation of business strategies and activities regarding Chicago Tribunes’ major competitors. This report covers some recommendation for further strategic positioning and investments to create a competitive advantages. In presenting
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analysis of the needs of the business and how the new equipment will help the business to function and the cost of the product will determine what the managers of the business decides. Marginal costs are change in total costs divided by change in output. Marginal revenue is the change in total revenue divided by change in output. Increase in fixed costs means that when the fixed costs cannot be changed it is the short run and when the fixed costs change it is the long run. The second questions
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For the rest of your life you will be creating your brand: please think about what you are saying about yourself when you do any work for someone else! 1. Consider a monopolist where the market demand curve for the produce is given by P = 520 – 2Q. This monopolist has marginal costs that can be expressed as MC = 100 + 2Q and total costs that can be expressed as TC = 100Q + Q2 + 50. a. Given the above information‚ what is this monopolist’s profit maximizing price and output if it charges a single
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We will now attempt to define and explain the concept of recovery briefly. "Recovery is a way of living a satisfying‚ hopeful and contributing life even with limitations caused by illness. Recovery involves the development of new meaning and purpose in one’s life as one goes beyond the catastrophic effects of mental illness” ( Barker‚ 2009‚ p.682). Whitley and Drake (2010) in their article Recovery: a dimensional approach opine that recovery has five dimensions which are; clinical recovery (experiencing
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operators built their businesses on communications networks‚ but OTT providers have decoupled services from networks in terms of both the technology and business. Broadband connectivity is a growing business‚ yet operators must find ways to generate new revenue streams and avoid losing relevance within the value chain. OTT providers today wield immense power in the market and include household names in content (YouTube‚ Netflix or Lovefilm)‚ advertising (Google)‚ communications (Skype and Facebook)‚ commerce
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CHAPTER ONE 1.1 BACK GROUND OF THE STUDY Nigeria as a sovereign nation operates a federal system of government i.e the federal government‚ state government and the local government councils. Onwo (1992) Observed that each level of the three tiers of government derive its powers not from the magnanimity of the central government but from the constitution; each level of government has defined responsibilities assigned to it by the constitution. The implication of this is that the three segments
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University of Salford- Tourism industry operations | Kirsty White 2011 Evaluation of how airports are operated and their importance to tourists. Description of how airports generate their revenue. 1.0 Introduction The purpose of this report is to evaluate airports and their importance to tourists and how they generate their income. It will also identify the key components of the tourism industry‚ and recognise the upcoming trends and technology advancements that have recently influenced
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