Determine the tyoes of cost centre, Managerial Accounting

Assignment Help:

Determine the tyoes of Cost centre

Cost centre can be of two kinds:

1. Impersonal cost centre: consisting of a location or item of equipment (or group of these) like machine shop, and 

2. Personal cost centre: consist of a person or a group of the persons such as factory manager, sales manager etc.

Cost centre also classified in manufacturing concerns into production and service cost centres. Production cost centres relate to those centres where production or manufacturing activities take place. Service cost centres are those, which are ancillary and render services to the production cost centres, so that manufacturing activities can take place. In a biscuit manufacturing company, making baking are the production cost centres will personnel purchase keeps canteen accounts and the service cost centres.

 


Related Discussions:- Determine the tyoes of cost centre

Explain quality control and total quality control, Explain Quality control ...

Explain Quality control and Total quality control Quality control (QC) circles can be viewed as a group oriented suggestion system for making improvements. QC circle is a sm

Innovations of management accounting and control, Implementing management a...

Implementing management accounting and control innovations are often problematic. Provide a brief commentary around the key factors necessary to give such innovations the best chan

Labor standard, Describe the impact of different types of standards on moti...

Describe the impact of different types of standards on motivations and specifically,the likely effect on motivation of adopting the labor standard recommended?

What is incremental budgeting, Incremental budgeting Incremental budget...

Incremental budgeting Incremental budgeting uses a budget prepared using a last period budget or actual performance as a base with incremental amount asses for the new budget p

What is liquidity ratios, Liquidity ratios Liquidity refers to the abil...

Liquidity ratios Liquidity refers to the ability of concern to meet its current obligations as and when these become due. The short term obligations are met by realizing amount

Compute the effect of relaxing credit effort on net profit, M/s ABC is seei...

M/s ABC is seeing relaxing its collection efforts. At current its sales are as Rs.40 lakhs, the ACP is here 20 days and variable cost to sales ratio is .8 and bad debts are as .05

Gardner manufacturing company produces, Gardner Manufacturing Company produ...

Gardner Manufacturing Company produces a product that sells for $120. A selling commission of 10% of the selling price is paid on each unit sold. Variable manufacturing costs are $

Explain the categories of the activity cost drivers, Explain the categories...

Explain the categories of The activity cost drivers The activity cost drivers can broadly be classified into following three categories: 1) Transaction drivers: for exampl

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd