Chapter 6 Cost-Volume-Profit Relationships Solutions to Questions 6-1 The contribution margin (CM) ratio is the ratio of the total contribution margin to total sales revenue. It can be used in a variety of ways. For example‚ the change in total contribution margin from a given change in total sales revenue can be estimated by multiplying the change in total sales revenue by the CM ratio. If fixed costs do not change‚ then a dollar increase in contribution margin will result in a dollar
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Requirements Gathering 101 By Duncan Haughey‚ PMP Requirements gathering is an essential part of any project and project management. Understanding fully what a project will deliver is critical to its success. This may sound like common sense‚ but surprisingly it’s an area that is often given far too little attention. Many projects start with the barest headline list of requirements‚ only to find later the customers’ needs have not been properly understood. One-way to avoid this problem is
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1. award: 7 out of 7.00 points TF Qu. 1 Activity-based costing involves a two-stage ... Activity-based costing involves a two-stage allocation process in which overhead costs are first assigned to departments and then to jobs on the basis of direct labor-hours. True False True / False Difficulty: Medium TF Qu. 1 Activity-based costing involves a two-stage ... Learning Objective: 03-01 Understand the basic approach in activity-based costing and how it differs from conventional costing
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since 2010. The bakeshop has been known for their distinctive taste and good quality products. It is managed by Mr. Aldrich Argayoso Villegas. VISION-MISSION To bring quality bread and pastries that is freshly baked free form preservatives at a low cost that would serve the needs of the consumers. GOALS To maintain the good reputation of the company by continuing to give quality products to the customers and increase market share through effective and efficient promotions CORE VALUES The products
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Southwest Airline Co. and Cost Accounting Southwest Airline Co. is a major passenger airline that provides scheduled air transportation in the United States. Southwest provides point-to-point service which allows the use of key assets‚ including aircrafts‚ gates‚ employees‚ and the ability to provide frequent‚ conveniently- timed flights and low fares. Southwest Airlines has built its culture from the inside out and believes that the satisfied employees will keep customers coming back. Southwest
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MEASUREMENT APPROACH TO DECISION USEFULNESS • (184) MEASUREMENT APPROACH: i. ii. iii. Accountants (not investors) “undertake a responsibility” To incorporate CURRENT VALUE ACCOUNTING directly in to the F/S Provided “reasonable (37) reliability” iv. v. a. b. As part of an “increased obligation” of the accounting profession “To assist investors to predict future performance and value” Performance = N.I. Value = share price vi. Via a “more informative information system”
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quality requirements will be fulfilled. There are internal and external audits: Internal Audit – may be performed by dedicated auditors from finance or quality departments or by personal engage by the manager responsible for the results of the process. External Audit – may be performed by costumers or regulators or by independent third parties. MEASUREMENT It tells us whether there has been a change in performance. Change is a constant. Before we measure we need standards‚ targets‚ requirements etc
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The basic accounting concepts have defined the conception of the preparation of financial statements and the process of preparation in the UK is well regulated. But financial accounting requires a fair amount of flexibility in some certain areas‚ so the need of judgements and estimations for accounts preparers is demand. Meanwhile it leaves a significant approach in accounting treatments. For example‚ when organizations decide which of several inventory valuation methods to utilize; managers make
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MSE KIT CENTRAL BANK OF INDIA MICRO & SMALL ENTERPRISES (MSE) INFORMATION KIT | CENTRAL BANK OF INDIA PRIORITY SECTOR DEPARTMENT 1 MSE KIT CENTRAL BANK OF INDIA CENTRAL OFFICE‚ MUMBAI INDEX Sr. No 1. PARTICULARS PAGE NO 2 MSMEs- Unique Features 2. MSMED Act Enterprises & Definition of Micro‚ Small and Medium 3 3. T argets for Domestic Commercial Banks. 4 4. T he Banking Codes and Standard Board of India (BCSBI)-
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Legal‚ Safety‚ and Regulatory Requirements As a society we have many laws‚ and individuals departments that enforce those laws. There are criminal‚ civil‚ contract‚ family‚ constitutional‚ common‚ and labor laws‚ criminal law handles crime and civil law handles most of the other laws mention above. With labor laws handle by the U.S Department of Labor also known as DOL administers and enforces over 180 federal laws that are for just the workplace‚ and those laws are in place for the protection
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