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Question 1 Discuss the various elements of cost
Question 2 Explain the various stages involved in the distribution of factory overheads
Question 3 Define activity-based costing.Explain the steps or stages involved in designing an ABC system
Question 4 List the limitations of budgetary control. What is the difference between a budget and a forecast?
Question 5 From the undermentioned figures, prepare accounts indicating the cost of process and the total cost. The production was 480 articles per week Process I Process II Process IIIMaterials Rs 3,000 Rs 1,000 Rs 400Labour 1,600 4,000 1,200Factory Overheads 520 1,440 500
Office overheads amounting to Rs.1,700 should be apportioned on the basis of wages. Ignore stock in hand and work-in-process at the beginning and end of the week
Example of Job Order Costing The given transactions were made by a company in the month of December. Direct Materials a) 8,000/- was bought on credit, out of these
what is traditional costing system
SALES REVENUE VARIANCE (SRV) The word 'Sales Variance' is indicated by the expression 'operating profit variance due to sales' by ICMA. It is described as 'the difference betw
Estimate the manufacturing cost for a bearing housing following the Formula Student Costing Scheme. Dimensions and materials of the bearing housing will depend on your student
Fixed Costs Are costs such do not change along with of the level of output? It is also named as autonomous cost, as it stays the similar irrespective of the activity level as
British Columbia Lumber has a Raw Lumber Division and a Finished Lumber Division. The variable costs are: 1.Raw Lumber Division: Rs. 100 per 100 board-feet of raw lumber 2.F
Cost Estimation Cost estimation may be defined with 'a study that attempts to predict among costs and the activity level or cost driver that causes those costs. In practical
conclusion
What are the strengths and weaknesses of the various costing methods and which would you recommend for a manufacturing enterpris? 2000word assay plus appendix
Outline of an ABC System An ABC costing system operates like given: Step 1 Find out an organization's major activities. Step 2 Find out the factors that identi
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