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1. A fellow student says to you: "The statement of cash flows is the easiest of the basic financial statements to prepare because you know the answer before you start. You compa
explain the practical application of differential costing with the help of suitable example.
A process in the industry where a wholesaler needs an amount that is the difference among the manufacturer's price to the wholesaler and the contract price to the resale customer.
Balance Sheet 2010 2011 Assets Cash
Lindon Company is the exclusive distributor for an automotive product that sells for $43 per unit and has a CM ratio of 35%. The company''s fixed expenses are $421,400 per year. Th
Direct material yield variance (MYV) : It has been described by the ICMA, London, as 'the variation between the standard yield of the actual material input and the actual yi
Standard Costing A standard cost is a predetermined calculation of how much is supposed to be incurred under specific particular working conditions. It is not an average of pa
Choice of Budget Flexing Basis The most suitable flexing basis must be considered where it assists in the comparison of alternative budget data at the planning stage and for
In most situations this will be essential to grant credit to customers. It may be essential either due to competition or because of the custom of trade. Though, when we grant credi
Types of Overhead Absorption Rate NB: Overheads incurred are generally absorbed on the basis of budgeted or estimated figures. The given basis may be applied leading to the
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