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DEFINITION OF BUDGET
As per the Institute of Cost & Management (ICMA), London, a BUDGET is 'a quantitative statement and / or financial, prepared and approved prior to a defined period of time, of the policy to be pursued in that period for the purpose of attaining a given objective. It may consist of income, expenditure and the employment of capital'.
Calculation of Deductions - Wages Department A range of deductions are complete from gross earnings when computing the net payment because of the employee, that deductions may
Determine how much to stock 1. Employ The Economic Order Quantity Model This is an easiest model which helps the manager to find out the optimum quantity of stock to order
Master Designs Company has cash flows for operating activities of $350,000. Cash flows used for investments in property, plant, and equipment totaled $65,000, of which 70% of this
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.
Eckels Wares is a division of a major corporation. The following data are for the latest year of operations: Sales
Accounts Payable or sundry creditors are generally unsecured debts owed through the firm. These are also considered to as payables on open accounts. They may not be evidenced throu
Attainable Standards and Current Standards Although the standard must be set high sufficient that achievable and it has to be worked for. Attainable standards must provide a c
The Cutting Department of the Rock Island Custom Cabinetry Corporation (a process costing production) had no work in process at the beginning of the period, 12,000 units were compl
The sale turnover and profit during two period were as following Period 1=Sales Rs.20 Laks, and Profit Rs.2 Laks Period 2=Sales Rs.30 Laks, and Profit Rs.4.Laks Calculate P/V Ratio
Good Food Company is a local manufacturer of instant noodles. Established in 2005, their business has been growing steadily. Their products, which are available in 3 flavors, are s
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