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Material usage variance
Difference among standard quantity of material and actual quantity used is the material usage variance. This variance arises due to:
Economic use of materials
Use of substitutes
Higher/less wastage of materials
Changes in designs or specification of product
Deposits from the public are one of the important sources of finance mainly for fine established big companies along with a vast capital base. The period of public deposits is rest
Factoring Services: All subsequent services are offer through the factor apart from the core service of purchasing receivables. 1) Sales credit management and Ledger adminis
Gather Data about Alternatives When potential areas of activity are specified, management must assess the potential growth rate of the activities, the capability of the company
Transportation model Table A more compact method for representing the transportation model than the linear equations is to use what we call the transportation tableau. It is a
LIMITATIONS OF ABC ANALYSIS However ABC analysis is a basic tool for exercising selective control over many inventory items, it does not, in its current form, allow precise con
Direct materials,4yard at$3.50per yard...$14.00 Direct labor,1.5direct labor hours at $12.00 per direct labor hour....$18 Variableoverhead,1.5 direct labour hours at $2.00 per dire
Define Materials cost variance Material cost variance (MCV) is the difference between the standard cost of material specified and the actual cost of materials used." It is the
What are Direct expanses These are expanses which can be directly, conveniently and wholly allocated to a specific cost centres or cost units examples of such expanses are hir
What is performance budgeting The concept of performance budgeting is used mainly in the government and public sector undertakings. It projects the government activities an
contribution margin
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