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A video-based pack in two parts: 1) Planning (23 min): Discusses the points to think about when considering setting up a first workshop, including market research, equipment and premises, and explains in...
Explains the reasons for standard costing and its benefits. Illustrates the calculation of all the basic price/quantity variances. Shows how the variances may be present in tabular form as a deviation from a...
Cost, price and volume are the factors that determin profit. The vidio discusses achieving a balance among them. Explains the difference between fixed and variable costs, break-even point, contribution,...
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