ACCT30 SEU Effective decision making and cost analysis

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timer Asked: Feb 1st, 2019
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Question Description

Q1. How can managers make higher-quality decisions? Give an example of decision made by one company and discuss how the mangers will make high quality decision?

Q2. Give a numerical example of cost function and analyze this cost function? In Details Discuss how is this cost function used in decision making?

Q3. Find a numerical example of cost-volume-profit (CVP) analysis, and analyze how CVP analysis is used for decision making?

Assignment 1 Cost accounting Last Date for Submission 2nd February 2019 You are required to work in this assignment individually. Any suspicious activities will result zero grade in this assignment. Student Name …………………………….. Student ID Assignment Course 1 Cost Accounting ……………… CRN ……… Marks ……/ 10 Points Course Code ACCT 301 End week 4 Uploading End of week 3 Submission Date Sat 26 /01/2019 Date Sat 02/02/2019 The assignment is covering week 2, week 3 and week 4 materials. Week 2: The Role of Accounting Information in Management Decision Making Week 3: The Cost Function Week 4: Cost – Volume – Profit Analysis Instructions: - Students must include these details (Name, Student ID, CRN, Date of submission) - Do NOT remove the questions in the answer papers. But write your answers below each question. - - Answer the ALL questions. - Assignments should be submitted in MS Word format - Font should be Times New Roman with 14 points. - You are required to work in this assignment individually. - You should submit the assignment via the Blackboard. - Students who submit assignments after deadline, will get ZERO. If you engaged in plagiarism, you will get ZERO marks in the assignment or course. Q1. How can managers make higher-quality decisions? Give an example of decision made by one company and discuss how the mangers will make high quality decision? (3 Points) Q2. Give a numerical example of cost function and analyze this cost function? Discuss how is this cost function used in decision making? (3 Points) Q3. Find a numerical example of cost-volume-profit (CVP) analysis, and analyze how CVP analysis is used for decision making? (4 Points)

Tutor Answer

JesseCraig
School: UCLA

Attached.

Running head: EFFECTIVE DECISION-MAKING AND COST ANALYSIS

EFFECTIVE DECISION-MAKING AND COST ANALYSIS
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EFFECTIVE DECISION-MAKING AND COST ANALYSIS

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EFFECTIVE DECISION-MAKING AND COST ANALYSIS
Question 1: Ways of Higher-Quality Managerial Decisions and A Company Example
Decisions can become complex especially when they influence other people's lives. To
ensure the choices are efficient it is essential for managers to apply the following guideline to
avoid mistakes of poor decision-making.
Creating a constructive environment
Managers should conduct a stakeholder analysis to understand all those involved and who
bear the effects of the decisions. This action will help avoid any misunderstanding within an
organization (Negulescu & Doval, 2014).
Investigating the situation in detail
A manager should understand the problem fully so that they can know which solution will
best solve the issue. They should also assess whether it is possible to address the situation singlehandedly or by collaboration with team member
Generating alternatives
After total comprehension of the case, managers should list the various ways of solving the
problem. They can refer to previous options if the problem is not new, but they should generate
fresh opportunities when the problem is new.
Evaluation and selection of option(s)
The managers should analyze every alternative to consider the best that will meet the
organization needs...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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