What is the accounting equation? What is cost analysis? What are some ways to increase your...

What is the accounting equation?
What is cost analysis?
What are some ways to increase your contribution margin?

Make sure you elaborate on your posts and give examples of how it applies to the CAPSIM simulation. You can also provide real-world application examples.

Expert Solution

What is Accounting equation ?
Assets = Liabilities + Capital
This is the accounting equation . The accounting equation is simply the basic idea of the fundamental accounting principle. The accounting equation shows that for every debit there is a credit
And also sum total of Assets side of a firm is equal to the total of liabilities and capital
What is cost analysis?
Cost analysis is simply the analysis of relationship between the input given to the production and the output.Every firm is concerned constantly to ascertain the cost of production, reduce the inputs, reduce the production cost and increase the production . To reduce the wastage of the products and optimum utilization of resources is always a concern to all firms
The methods to increase contribution margin are
*Increase selling price
*Decrease the variable cost
*maximum use of available resources
*decrease the production variances

ekkarill92 answered 2 years ago

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