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OVERHEAD VARIANCES Unlike labour and direct material, the manufacturing overhead is not completely variable with the level of production. So, standard costs for factory overh
When firms enter into loan agreements with their bank it is very common for the agreement to have a restriction on the minimum current ratio the firm has to maintain. So, it is imp
A foreign company plans to clear several dozen acres of ecologically valuable mangrove swamp in Vietnam for the creation of a shrimp aquaculture facility. This decision will creat
draw up statements of affairs to show the profit or loss for the year
Balance Sheet Classi?cations and Relationships: Shelley and Co. has the following balance sheet elements as of December 31, 2012. Land. . . . . . . . . . . . . . . . . . . . . .
Total profit means the total revenue excluding the total cost of the certain products. Average profit defines the profit which comes and achieved after selling each unit. Total
Reasons for Cost Allocation 1. To provide comparison along with externally provided services: It helps in assessing where to continue the contact or service outsiders. 2.
Methods Required To Allocate Joint Costs 1) Physical/Unit Measure 2) Constant gross margin rate 3) Net realizable value.
Reserves and surplus or retained earnings usually occur out of profitable operations. This is a surplus not distributed through the firm as dividends. Conversely, these are profits
Goga Ltd is busy building a five-star hotel in the area, they use the percentage of completion method to determine profits and would like to calculate the profit for the year. dra
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