Marginal Costing, Break-Even Point & Contribution Analysis
Marginal Costing: Meaning, Features and Advantages
1. Meaning of Marginal Costing
Marginal costing is a costing technique in which only variable costs (direct materials, direct labour, variable overheads) are considered for product costing, while fixed costs are treated as period costs and charged directly to the Profit and Loss Account.
The marginal cost of a product refers to the additional cost incurred to produce one extra unit of output.
In formula form:
Marginal Cost = Prime Cost + Variable Overheads
Under
Read MoreEconomics Exam Answers: MCQ Key and Short Answer Solutions
Objective
50 × 1 = 50
1. D 11. A 21. B 31. D 41. D 2. C 12. B 22. D 32. A 42. C 3. D 13. A 23. B 33. B 43. A 4. D 14. C 24. A 34. C 44. D 5. B 15. A 25. D 35. C 45. C 6. B 16. B 26. C 36. A 46. D 7. D 17. A 27. A 37. A 47. D 8. C 18. C 28. B 38. D 48. C 9. B 19. A 29. B 39. A 49. C 10. A 20. A 30. B 40. D 50. D
Section B — Short Answers
1. What is meant by factor price determination?
Factor price determination
Read MoreVera’s Account of Island Murders and Suspicions
Vera’s Account of the Island Murders
Introduction and Accusation
My name is Vera. I am in this house because I was invited by Mr. Owen, but I don’t know who that person is. While I was dining in the house, I suddenly heard a gramophone accusing me of being guilty of the death of a little boy.
General Suspicion
Another thing that we know is that Mr. Owen is one of us, and everyone here is suspicious.
My Alibi
My alibi to defend myself is that all my life I have been a good person. After that I left my
Read MoreGlobalization: Markets, Production, Institutions and Backlash
Globalization: Concept and Market Trends
Globalization (Glob): Refers to the trend towards a more integrated global economic system.
Globalization in Markets
Glob in markets: The merging of historically distinct and separate national markets into one huge global marketplace. Tastes and preferences of consumers in different nations are converging toward some global norm (examples: Coca‑Cola, Starbucks, Sony PlayStation, and McDonald’s). However, most highly globalized markets are industrial goods
Read MoreIntegrated Child Development Services, DEMAT Accounts, and Corporate Finance Concepts
Integrated Child Development Services (ICDS)
ICDS is a crucial program in India focused on holistic child development. It stands for Integrated Child Development Services. Launched in 1975, it is a flagship social welfare scheme of the Government of India.
It is one of the world’s largest community-based programs, aiming to provide a package of services for the holistic development of children under the age of six, along with their mothers. The services are delivered primarily through a network of
Read MoreFoundational Christian Theology Concepts Explained
Foundational Christian Theology Concepts
Core Definitions
- Apologetics: The reasoned defense and commendation of the faith (1 Peter 3:15).
- Theology: Divinity; the science of God and divine things, teaching the character of God.
- Christian: A real disciple of Christ; one who believes the truth and leads by example; piety.
- Worldview: A commitment or orientation of the heart that can be expressed in a story (relating to common people/you) or a set of propositions (a list of truths: making what you believe
Computer Graphics Algorithms and Display Technologies
Drawing Circles with the Mid-Point Algorithm
The Mid-point Circle Drawing Algorithm is a technique used to draw a circle using simple arithmetic operations like addition and subtraction. It avoids complex mathematical calculations such as square roots or trigonometric functions. The main idea is to start at the top point of the circle and move pixel by pixel to draw 1/8th (octant) of the circle. Then, using symmetry, the remaining seven parts of the circle are drawn by mirroring that part.
At each
Read MoreLionel Messi: Career Achievements and Records
Lionel Andrés, often called Leo, Messi[note 1] (Spanish pronunciation: [ljoˈnelanˈdɾesˈmesi] ⓘ; born 24 June 1987), is an Argentine professional footballer who plays as a forward for and captains both Major League Soccer club Inter Miami and the Argentina national team. Widely regarded as one of the greatest players in history, Messi has set numerous records for individual accolades won throughout his professional footballing career, including eight Ballons d’Or, six European Golden Shoes,
Read MoreDavid Hume: Causation, Substance, Morality, and Society
Hume on Causation, Substance, and Morality
An idea will be true if it comes from an impression, but it can also be a fiction. Thus, knowledge is limited to our impressions and ideas. The cause-effect relation is based on experience. We can never find in it a necessary connection between the facts, but only that an event (cause) is regularly followed by another (effect). The necessary connection would imply that this relationship would always hold, but this cannot be guaranteed.
Hume applied his analysis
Read MoreIFRS Financial Reporting: Concepts and Statements
What is Financial Reporting?
Financial Accounting (narrow): bookkeeping: records transactions.
Financial Reporting (wide): a rules-based system designed to communicate a company’s financial position and performance to users.
Core Steps of Financial Reporting
- Identification – determining what happened.
- Measurement – quantifying the financial impact.
- Communication – reporting results to users.
Objective of Financial Reporting
Provide useful financial information to primary users:
- Existing and potential