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Cost Classifications and Estimation
Cost classification may be defined like 'the arrangement of cost items in a logical sequence having concern to their nature and reason to be fulfilled'. The term cost should be qualified while in use in order to its precise meaning is established in a particular condition; conversely, cost refers to the amount of resources such have been diverted from other sacrificed or uses so like to achieve the needed objective. Although the term is utilized to refer to various aspects of cost, depending upon the base of argument such one is approaching the matter from. Various bases are utilized in classifying costs, hence giving us several types of costs.
Using labour cost as the focus, discuss the differences in the measurement of labour efficiency / effectiveness where (i) total quality management techniques and (ii)
Decision Making Nature of Decision-making Decision-making may fall into any type of the following categories as: 1. Short run operational decisions 2. Short run t
Find Out the Memorandum Reconciliation Account The givens are the final accounts of a company for the year ending on date 31st December 1999. Manufacturing Trading Loss and Pr
Average costing method has the following main advantages: 1.It is a realistic costing method useful to management in analyzing operating results and appraising future production
Sony manufactures battery for Iphone 6+. The average costs to manufacture batteries are $4 for 10,000 ad $2.67 for 30,000. Assuming the total cost function is linear, what will be
Process Losses Most manufacturing processes result in several portion of the raw materials utilized not being transformed into a reliable half losses. These losses may take t
what is the scope of cost accounting?
Financial Accounting It is the analysis, and recording and classification of financial transactions and the ascertainment of how that information will be reported to the diffe
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
Introduction of Internal Rate of Return The traditional internal rate of return (IRR) method of project selection has been shown to be inferior to the NPV method due to vario
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