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ADVANTAGES OF "ABC ANALYSIS"
The advantages derived from this analysis and its consequent follow up are summarized below:
1) Facilities selective control and thereby save valuable time of busy executives.
2) Eliminates lot of unnecessary paper work involved in various other control procedures. Tangible savings can be affected in this behalf by following Two-Bin System which is very closely related with this technique.
3) Facilitates Inventory Control and control over usage of stores materials which ultimately results in cost control.
Describe the impact of different types of standards on motivations, and specifically, the likely effect on motivation of adopting the labor standard recommended for Geeta & Company
HOW TO CALCULATE MATERIAL ACCOUNTING
Budget Preparation The organization's budget is ready following the acceptance and sanction of the decision packages. Once the budget of organization has been accepted manager
Linear Programming This section introduces the general method called the simplex algorithm, which is designed to solve any linear program. The information that can be secured
Planning Planning is the fundamental function of the management by means of which the managers decide: What goals are to be accomplished How they will be accomplished.
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Explain standard costing according to backer and Jacobsen According to backer and Jacobsen, standard cost is the amount the firm to measure the variation from standard costs th
Difference between a fixed and flexible budget Fixed budget A fixed budget remains the same irrespective of changed situations. It remains inflexible even if volume of
The std cost of chemical mixture~PQ is as follows: 40% of material P @rs.400/kg 60% of material Q @rs.600/kg A std loss of 10% is normally anticipated in pdn. The followinng parti
Techniques of CVP Analysis The CVP analysis deals with the price costs structure and the sales volume and identifies the profit figure with one or other combination of these
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