Question

CVP analysis and Breakeven analysis

14 Sep 2022
Answer :
Word Count : 341
Analysis Type Definition Example
CVP analysis A management accounting technique that looks at the relationship between cost, volume, and profit to determine the impact of changes in these factors on the business. Evaluating the impact of a change in selling price or cost structure on the profitability of a product.
Breakeven analysis A financial analysis that calculates the point at which revenue equals total costs to determine the minimum level of sales needed to cover all __________ ______ __________ ______ _________ _______ ___ ________.
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Related Questions

Explain how the variance analysis relating to overheads differ from that relating to material and labour.

Differential costing and Marginal costing

State the conditions under which the income statement prepared with absorption costing and marginal costing will give different results.

In what ways can we analyse sales variances. Explain in detail.

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The following additional information is also available:

i) The authorized capital of the company is 80,000 equity shares of Rs. 10 each of which 50% has been issued and has been recommended by the directors

ii) A dividend of 15% on the paid-up capital has been recommended by the directors.

iii) The closing stock of finished goods at cost is Rs. 5,60,000.

iv) The development rebate reserve is no longer required.

v) Depreciation on plant and machinery amounting to Rs. 43,000 on furniture amounting to Rs. 1,300 and on building amounting to Rs. 3,800 has been debited to miscellaneous expenses.

vi) Surplus in profit and loss account after proposed dividends, is to be transferred to general reserve.

vii) Income-tax assessment for a prior year has been completed, fixing the income tax liability at Rs. 1,55,000 (against which a provision of Rs. 80,000 and advances of income tax of Rs. 70,000 exists in the books). You are required to prepare:

i. Profit and loss account for the year ended 31st December, 2004; and

ii. Balance sheet in the prescribed form as on that date

State the conditions under which the income statement prepared with absorption costing and marginal costing will give different results.

Costs may be classified according to their nature and characteristics. Explain.

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