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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
Job Costing This is a costing method that is applied when a job or cost unit is relatively of small size, is undertaken to fit the customer's specifications and is of compara
We consider two regions A and B. Each market has the same size (i.e. number of consumers) but differs in the willingness to pay for one unit of the good proposed by the firm. On ma
sorption costing
Show the effect of an increase in each of the items listed below on the FCFF and FCFE. Suppose a $100 increase in every case and a 40 percent tax rate a. Net income b. Cas
Allocation of Joint Costs Whereas two or more products of relatively high value emerge simultaneously from a single process, they are named as joint products. The processes s
Assume that a primary care physician practice performs only physical examinations. However, there are three levels of examinations I, II, III - that vary in depth and complexity.
Example of Profit Volume Graph The summary results of a company are given as: Product A B C
What are the limitations of unit cost.
Suppose that you are the chief financial officer at Porter Memorial Hospital. The CEO has asked you to analyze two proposed capital investment-Project X and Project Y. Every proj
Accounting for Labour costs We will contain an overview of accounting for labour costs as: a) Gross Earnings It is illustrated as item A that appears like a credit i
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