Sales maximisation - Study guides, Revision notes & Summaries

What are the 3+1 stages of absorption costing? 1. Allocation 2. Apportionment 3. Absorption = Production Cost 4. Under/over = Non prod OH Why would you use Absorption Costing? Valuing Inventory Pricing Decisions Establishing profitability What are pros and cons of absorption and marginal costing? Absorption -Avoids varying profits if sales are seasonal -Consistent with accounting standards -Recognises Long Run variable costs -Implies OH related to production = Manipulate profit ...

1.1.1 - The Economic Problem The basic economic problem Scarcity - unlimited wants and finite resources, so choices have to be made. Resources have to be used and distributed optimally. Scarcity refers to the shortage of resources in relation to the quantity of human wants. Scarcity Example For example, if you only have £1 and you go to a shop, you can buy either the chocolate bar or the packet of crisps. The scarcity of the resource (the money) means a choice has to be made bet...

Needs - correct answer Something essential to survival - food, water, warmth, clothing and shelter Wants - correct answer Something you would like to have, but is not essential to survival Resources - correct answer Something used to produce output Productivity - correct answer Output per worker per pe...

AQA A level Business - Unit 1 All Answers Correct Key issues with different forms of business Market capitalisation and Dividends. Budgets Unlimited/ limited liability, Ordinary share capital, Agreed ceiling on the monthly spending by any department or manger. Corporate Objectives Targets for the whole business, such as profit to rise by 20% a year for the next 3 years for the whole business. Delegated Entrepreneur Mission Decision making power is passed down the th...

MAC3703 Assignment 2 (DETAILED ANSWERS) Semester 2 2023 () - DUE 19 September 2023 100% TRUSTED workings, explanations and solutions. For assistance call or Whatsapp us on +25477 954 0132 . QUESTION 1 (30 MARKS) Mrs Sindy Lula has been in the financial Services Sector for more than 20 years and is considering a career shift. At present, she is a credit provider (mashonisa) where she owns and runs the money lending business throughout the Eastern Cape under the name BZN Agri-Retailers (PTY) LTD....

MAC3703 Assignment 2 Semester 2 2023 () - DUE 19 September 2023 100% TRUSTED workings, explanations and solutions. For assistance call or Whatsapp us on +25477 954 0132 . QUESTION 1 (30 MARKS) Mrs Sindy Lula has been in the financial Services Sector for more than 20 years and is considering a career shift. At present, she is a credit provider (mashonisa) where she owns and runs the money lending business throughout the Eastern Cape under the name BZN Agri-Retailers (PTY) LTD. Having been in thi...

AQA A level Business - Unit 1 Latest Update (2022/2023) – Scored A+ Key issues with different forms of business Unlimited/ limited liability, Ordinary share capital, Market capitalisation and Dividends. Budgets Agreed ceiling on the monthly spending by any department or manger. Corporate Objectives Targets for the whole business, such as profit to rise by 20% a year for the next 3 years for the whole business. Delegated Decision making power is passed down the the hierarchy. Entrepreneur P...

Question 1.1 What types of activities or roles could a professional accountant provide to improve productivity for an organisation? Professional accountants can provide several roles in improving productivity, including: data capture Both of physical and monetary flows, to enable an accurate view of current operations Analysis Both of financial and non-financial information, to enable identification of activity drivers Performance measurement Includes establishing benchmarks and measuring ...

Entrepreneurs - ANS-Individuals who, typically, set up and run a business and take the risks associated with this Intrapreneurs - ANS-Employees who use entrepreneurial skills, without having to risk their own money, to find and develop initiatives that will have financial benefits for their employer Profit maximisation - ANS-An attempt to make as much money as possible in a given time period Profit satisficing - ANS-Making enough profit to satisfy the needs of the business owner(s) ...

Edexcel A Level Microeconomics 2022|2023 latest updated Factors influencing demand for labour Demand for final product - if rise in output > increase in productivity Relative productivity of labour to capital - substitution effect £3,000 subsidy for hiring unemployed 18-24 y.o. = half UK's youth minimum wage Factors influencing supply of labour Cost of living Cost of gaining skills UK uni fees capped at £9,250 per year Number of workers UK raises state pension age fro...