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Managerial functions case study

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Managerial Economics can be defined as amalgamation of economic theory with business practices so as to ease decision-making and future planning by management. It makes use of economic theory and concepts. It helps in formulating logical managerial decisions. The key of Managerial Economics is the micro-economic theory of the firm. It lessens the gap between economics in theory and economics in practice. Managerial Economics is a science dealing with effective use of scarce resources.
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This course, developed at the Darden School of Business at the University of Virginia and taught by top-ranked faculty, will teach you the fundamentals of managerial accounting including how to navigate the financial and related information managers need to help them make decisions. You'll learn about cost behavior and cost allocation systems, how to conduct cost-volume-profit analysis, and how to determine if costs and benefits are relevant to your decisions. By the end of this course, you will be able to: - Describe different types of costs and how they are represented graphically - Conduct cost-volume-profit analyses to answer questions around breaking even and generating profit - Calculate and allocate overhead rates within both traditional and activity-based cost allocation systems - Distinguish costs and benefits that are relevant from those that are irrelevant for a given management decision - Determine a reasonable course of action, given the financial impact, for a given management decision. How to calculate and allocate overhead rates within both traditional and activity-based cost allocation systems.
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