Incremental analysis Assignment Essay
| Order ID |
53563633773 |
| Type |
Essay |
| Writer Level |
Masters |
| Style |
APA |
| Sources/References |
4 |
| Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Incremental analysis Assignment Essay
Incremental analysis is a decision-making technique used in business to determine the true cost difference between alternatives. It is a tool that helps managers make better decisions by focusing on the costs and revenues that are actually affected by the decision.
The steps in incremental analysis are as follows:
Identify the relevant costs and revenues.
Ignore sunk costs.
Identify any opportunity costs.
Add the relevant costs and revenues for each alternative.
Compare the alternatives and make a decision.
Identifying the relevant costs and revenues
The first step in incremental analysis is to identify the relevant costs and revenues. Relevant costs are those that will change as a result of the decision. Irrelevant costs are those that will not change as a result of the decision.
For example, if a company is considering whether to buy or lease a new machine, the relevant costs would include the purchase price of the machine, the lease payments, the cost of operating the machine, and the expected revenues from using the machine. The irrelevant costs would include the cost of the old machine, which is already sunk, and the cost of the building, which will be used regardless of whether the company buys or leases the machine.
Ignoring sunk costs
Sunk costs are costs that have already been incurred and cannot be recovered. They are irrelevant to decision-making because they cannot be changed.
For example, if a company has already spent $100,000 on research and development for a new product, that cost is a sunk cost. The company cannot recover that money, so it should not factor it into its decision of whether to launch the product.
Identifying opportunity costs
Opportunity costs are the benefits that are forgone when one alternative is chosen over another. They are also relevant to decision-making because they represent the true cost of the decision.
For example, if a company is considering whether to open a new store, the opportunity cost of opening the store is the profit that could be earned by investing the money in another project.
Adding the relevant costs and revenues
Once the relevant costs and revenues have been identified, they can be added together to determine the incremental cost or revenue for each alternative. The incremental cost or revenue is the difference in cost or revenue between the two alternatives.
For example, if the incremental cost of opening the new store is $1 million and the incremental revenue is $1.5 million, then the company would make a profit of $500,000 by opening the store.
Comparing the alternatives and making a decision
The final step in incremental analysis is to compare the incremental costs and revenues for each alternative and make a decision. The alternative with the highest incremental profit is the best choice.
In the example above, the company should open the new store because it has the highest incremental profit.
Incremental analysis is a powerful tool that can help managers make better decisions. By focusing on the relevant costs and revenues, incremental analysis can help managers identify the true cost of each alternative and make the best decision for their business.
Here are some additional tips for using incremental analysis:
Make sure that all of the relevant costs and revenues have been identified.
Ignore sunk costs.
Identify any opportunity costs.
Add the relevant costs and revenues for each alternative.
Compare the alternatives and make a decision.
Incremental analysis is a valuable tool for making better decisions in business. By following these tips, you can use incremental analysis to make sure that you are making the best decision for your company.
Here are some examples of how incremental analysis can be used in business:
A company is considering whether to buy or lease a new machine. Incremental analysis can be used to determine the true cost of each option and make the best decision for the company.
A company is considering whether to expand its product line. Incremental analysis can be used to determine the incremental cost of the expansion and the incremental revenue that it is expected to generate.
A company is considering whether to open a new store. Incremental analysis can be used to determine the incremental cost of the new store and the incremental revenue that it is expected to generate.
Incremental analysis is a powerful tool that can help managers make better decisions in business. By following the steps outlined in this article, you can use incremental analysis to make sure that you are making the best decision for your company.
Incremental analysis Assignment Essay
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RUBRIC
| QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
| Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
| Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
| Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
| Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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