Cost Accounting‚ 14e‚ Global Edition (Horngren/Datar/Rajan) Chapter 12 Pricing Decisions and Cost Management Objective 12.1 1) Companies should only produce and sell units as long as: A) there is customer demand for the product B) the competition allows it C) the revenue from an additional unit exceeds the cost of producing it D) there is a generous supply of low-cost direct materials Answer: C Diff: 2 Terms: target price Objective: 1 AACSB: Ethical reasoning 2) Too high a price may: A)
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Chief Characteristics Of Managerial Economics It would be useful to point out certain chief characteristics of Managerial Economics‚ inasmuch it’s they throw further light on the nature of the subject matter and help in a clearer understanding thereof. 1. Managerial Economics micro-economic in character. 2. Managerial Economics largely uses that body of economic concepts and principles‚ which is known as ‘Theory of the firm’ or ‘Economics of the firm’. In addition‚ it also seeks to apply
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and managerial accounting‚ the first differences has to do with the primary users of the reports; in financial accounting the reports are used by external users such as stockholders‚ creditors and regulators. On the other hand managerial accounting reports are used by internal users and include officers and managers. In addition the type and the frequency of the reports differ; financial accounting have financial statements and quarterly and annually are for general purposes while managerial reports
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chapter explains why managerial accounting is important to the future careers of all business students. It answers three questions: (1) What is managerial accounting? (2) Why does managerial accounting matter to your career? and (3) What skills do managers need to succeed? It also discusses the importance of ethics in business and corporate social responsibility. I. What is managerial accounting? A. Examine the difference between Financial and managerial accounting • Financial
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Managerial Stakeholder Theory To predict real-life phenomena we need theories. Similarly‚ stakeholder theory is a theory which is used to explain the phenomena of motivation for corporate social disclosures. This research work is based on the concept of stakeholder theory and its practical applications in predicting the phenomena of corporate social disclosures (van der Laan 2009). Further there will be explanation of Managerial stakeholder theory. The concept of stakeholder theory has got popularity
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MEANING SCOPE AND METHODS OF MANAGERIAL ECONOMICS INTRODUCTION Emergence of managerial economics as a separate course of management studies can be attributed to at least three factors.: (a) growing complexity of business decision making process due to changing market conditions and business environment (b) consequent upon‚ the increasing use of economic logic ‚ concepts theories and tools o economic analysis in the process of business decision making (c) Rapid increase in demand for professionally
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Managerial Economics Comm 295 Class 1 1. Course Outline 2. Introduction 3. Supply and Demand THE UNIVERSITY OF BRITISH COLUMBIA 1. Outline Instructor: James Brander Vista: An outline and old assignments and exams (with answers) are posted. Class notes will be posted before each class. Questions corresponding to the textbook and selected answers will be posted. Course Description: Economic foundations of managerial decision–making. The early topics review and extend material from first
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Which of the seven dimensions do you think is probably the best predictor of managerial sucess? Which is the least predictive? Why? Out of seven dimensions the best predictor of managerial sucess is Assertive Roles. Being a manager‚ he has to make other people work to achieve the common goals. Manager having assertive roles tend to be those who are able to reach higher goals and achieve bigger ambitions. Managers having assertive roles works towards own goals and dreams. Assertive roles makes manager
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Managerial Theories of Firm Marris and Williamson’s Models Marris’ Managerial Thesis of Firm Marris has put forth a significant thesis of firm as per which the managers do not optimise profits but in its place as per him‚ they look for to optimise profits balanced rate of increase of the firm. Optimisation of balanced rate of increase of the firm entails optimisation of the rate of increase of demand for the commodities of the firm and rate of increase of capital supply. If I symbolises
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Managerial Economics : The Coca-Cola Company Almost all decisions in a company have an economic consequence. Managerial economics is an integral‚ relevant part of business management processes that involves cost‚ revenues and profits‚ considering not only the monetary costs‚ but nonmonetary costs as well – monetary‚ in terms of cash flow in and out and any excess revenue over costs or profit; nonmonetary‚ in terms of benefit for the consumer – whether its affect psychically is good or bad causing
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