Application Of Cost Management Technique In A Real World Company

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Application of Cost Management Techniques in Real-World Company

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January 22, 2022

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Abstract

The basic purpose of writing this paper is to apply basic techniques of “Cost Management

and Cost Systems” in a real-world company. For this purpose, I have selected “The Coca-Cola

Company” that is manufacturing, marketing, and retailing alcoholic and non-alcoholic beverages

and syrups. I have applied the components of CVP i.e. cost, volume, and price and also calculated

break-even points with the fictional details that how the company would apply CVP analysis tools

to determine the cost levels, production levels, and the expected price to attain the potential

targeted profits. The paper will discuss the volume, price, break-even point, decision making,

budget preparation, benefits, and limitations of CVP analysis.

Keywords:

Break-even point, CVP Analysis, budget, decision-making, limitation, benefits

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1 Application of Cost Management Techniques in Real-World Company Student Name Course ID University Name Instructor Name January 22, 2022 2 Abstract The basic purpose of writing this paper is to apply basic techniques of “Cost Management and Cost Systems” in a real-world company. For this purpose, I have selected “The Coca-Cola Company” that is manufacturing, marketing, and retailing alcoholic and non-alcoholic beverages and syrups. I have applied the components of CVP i.e. cost, volume, and price and also calculated break-even points with the fictional details that how the company would apply CVP analysis tools to determine the cost levels, production levels, and the expected price to attain the potential targeted profits. The paper will discuss the volume, price, break-even point, decision making, budget preparation, benefits, and limitations of CVP analysis. Keywords: Break-even point, CVP Analysis, budget, decision-making, limitation, benefits 3 Introduction Organizations want to determine their future revenues, costs, sales volumes, production volumes before time to avoid any potential losses. Companies can use different techniques to determine and manage their costs. There are several cost management techniques. One of these techniques is the CVP analysis. Cost-Volume-Profit Analysis is also known as CVP analysis and Break-Even analysis (Oppusunggu, 2020). It is a helpful technique for organizations to calculate their sales volumes and costs including bot ...
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