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Advantages and Disadvantages of Uniform Costing
Advantages
1. It enables costs to be compared simply
2. It makes it easier to computerize the accounting system of different organizations in the industry.
3. It leads to easier cost transferability among organizations.
Disadvantages
1. It may not be suitable or proper to an individual organization in the industry if there is a difference in structure and size.
2. It is slow to adopt changing demands and conditions.
cost classifications and examples
Limitations of Budgeting 1. Too mush reliance may reason resistance or inflexibility to change. 2. Difficult to set levels of attainment. It may result into too tight budg
manufacturing costs will not include a. indirect material used b. sales salaries expense c. indirect labor costs d. depreciation of factory equipment
the following information relates to process 3 of a three stage production process for the month of january 2014. opening inventury 300 units comlete as to; material from proces
Opportunity Costs Are Relevant Costs Opportunity cost introduces an additional concept that is not available like part of normal cost analysis in the accounting record system.
Direct Material Cost Variances (DMCV) This variance is a general difference in the standard direct material cost and the actual direct material cost. This variance may be prese
some clarificationon how to compute closing stock and openning stock using marginal costing technique and absorption.
Break-even analysis can be used to work out either a break-even volume or revenue, as per given a multiple product scenario. This is achieved using 'average contribution per unit'
Polycorp Limited Steel Division is considering a proposal to purchase a new machine to manufacture a new product for a potential three year contract. The new machine will cost $1
First In First Out or FIFO Method - Work in Progress This method considers merely those costs incurred throughout the recent period. Equivalent units are calculated given a
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