Discuss profit equation and how costs affect profitability. Explain the pros and cons of these business decisions. From a biblical perspective, discuss outsourcing to sweatshops and mass layoffs.
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- Discuss profit equation and how costs affect profitability.
- Explain the pros and cons of these business decisions.
- From a biblical perspective, discuss outsourcing to sweatshops and mass layoffs.
Step by step
Solved in 3 steps
- Why do most of the companies prepare for profit planning? And what are the key steps to make it helpful?how important does the owner /manager believe cost information is the success of the business?What is meant by customer-profitability analysis? Give an example of an activity that might be performed more commonly for one customer than for another.
- In your own understanding, please answer the following: 1. What are the importance of knowing, analyzing and assessing the financial statement in the decision making of internal and external users in the organization? 2. Explain briefly how do you understand the concept of Cost of Good Sold.Which of the following is NOT a period cost? Select one: O a. manufacturing costs. Ob general and administrative costs. Oc marketing costs. Od. research and development costs. Which of the following is NOT one of the questions management accountants might attempt to help answer in the formulation of strategy? Select one: a. What substitute products exist in the marketplace? Ob. Who are our most important customers? Does the strategy comply with GAAP (Generally Accepted Accounting Principles)? Od. Will adequate cash be available to implement the strategy?please solve the task by reading attached pictures of background knowledge What could the concept for cost and revenue accounting look like for Christine ́s business? Which parts of a cost accounting concept are necessary for her business? Calculate the profit of Christine ́s business and the return on investment?Do you feel comfortable with the situation?
- discuss how managerial accounitng information fulfills the following purposes. Give an example of situation of profit measurementWhich objective of cost accounting classifies and analyzes cost date for measuring efficiency? a. Guide to business policy b. Determination of selling price c. Cost control and reduction d. Measuring and improving performanceReview the scripture below. Does God's word here have relevance to the concepts being studied in Managerial Accounting, or do spiritual and business concepts just not mix? Please share your ideas and give examples. Feel free to cite other sources. Luke 14:28-30 in the Bible reads: “But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it? Otherwise, you might complete only the foundation before running out of money, and then everyone would laugh at you. They would say, ‘There’s the person who started that building and couldn’t afford to finish it!’" Explain the meaning of (a) differential revenue, (b) differential cost, and (c) differential income. A company is offered incremental business at a special price that exceeds the variable cost. What other issues must the company consider in deciding whether to accept the business? Although the cost-plus approach to product…
- Discuss The impact of applying an Activity-Based Costing System on the businesses' financial and managerial performance. Why is it considered better than the conventional costing systems? The discussion needs to be supported with logical reasoning, clarity, and relevant examples.Why do online sellers need to have a knowledge about cost volume profit analysis?Explain the role of cost-variable-profit (CVB) in taking the business decisions with appropriate literature review