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Explain Operating budgets
These budgets relate to the dissimilar activities or operation of a firm the number of such budgets depends upon the size and nature of business. The commonly used operating budget is:
Sales budget
Production budgets
Production cost budget
Purchase budget
Raw material budget
Labor budget
Plant utilization budget
Manufacturing expenses or works overhead budget
Administrative and selling expenses budget etc.
Advantages of participatory budgets Information from employees most recognizable with each unit’s needs and constraints is included. Knowledge spread amongst numerous lev
differentiate between multiple product , selling cots and margin management
solution to problem 2-23,T-Accounts;applied overhead of Kleinman Company is a manufacturing firm and employess a job-order costing system.
bases of classifying budgets
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Features of product life cycle costing Product life cycle costing is important due to the following features: 1) product life cycle costing involves tracing of costs and re
Describe the important role that the corporate level strategy has in relation to the development of the business and functional strategy in a multi -business organization
Z or t Statistics If n ≥30 we use Z, if, n Ho: B = O that is, there is no relationship between X and Y HA: B≠ O There is a significant relationship between X and Y The l
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