a. Calculate both the product cost (using standard accounting practices) and the relevant cost for this custom
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b. What is the lowest price at which the tender should be submitted assuming we want to make a profit of £200? What will be the impact of such a price on profits reported in the management profits report? What are the opportunity costs of not undertaking this job?
c. Compare and contrast historical accounting information for the calculation of product costs with the notion of relevant costs. What are the limitations of both methods?
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a Relevant cost Product cost Direct labour 25 hours 30 0 750 DeliveryInstallation labour bought in 4 ...View the full answer
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Related Book For 
Accounting For Managers Interpreting Accounting Information for Decision Making
ISBN: 978-1119979678
4th edition
Authors: Paul M. Collier
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