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Occurrence of Overhead Variances Overhead variances arise mainly because of the conventions of the overheads absorption process. The overhead absorption rates employed in this
explain advantages of marginal costing
Q. What was the amount of cash a firm collected from its customers, given the following fact set? The firm's balance sheets at the beginning and end of the year show gross accou
“The statement of cash flows is the easiest of the basic financial statements to prepare because you know the answer before you start. You compare the beginning and ending balances
what are the concept and objectives of cost accounting?
Atkinson's Reliable Tools makes two products that use similar raw materials: #587Q and #253X. Estimated production needs for a unit of each product follows. #587Q #253X Steel (in p
features of absorption costing
Which statement best describes a sunk cost? A a cost which is irrelevant for the future B a cost which must be matched against the revenue C a cost which remains the same at all le
Fixed Budgeting The master budget discussed before is a fixed budget. A fixed budget is defined via as: 1. Just one level of activity 2. Not adjusted to re
Pauline's Pastry Shop decides to remodel its offices this year. As part of the remodeling, Pauline's trades furniture with a cost of $12,000 that had been expensed in the year of p
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