Illustrate out the significance of management accounting.
Make a distinction between budgetary control and standard costing.
Illustrate out drawbacks of marginal costing.
Illustrate profit volume ratio. A company manufactures and sells 60,000 units of product at a variable cost of Rs.42 each. The fixed costs are Rs.1, 80,000. The selling price is fixed to generate a profit of 33.33 percent on cost. You’re required to compute P/V ratio.
Illustrate out the term ratio analysis. Describe the advantages of ratio analysis.