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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.
Period of operating cycle implies that total sum of number of days included in the various stages of operation commencing from the purchase of raw materials and ending along with c
Relevant costs and benefits for operating decisions: In operating decisions, concentration is on best use of existing capacity. Incremental analysis based on differential cost
Change of Technology: Changes in technology commonly leads to improvements in the efficient processing of raw material, reduce in wastages, more speedy production and higher produ
Ordering Costs These are incurred in getting purchased items into the company’s inventory or stores, and usually consist of clerical costs of: • Making the purchase demand.
Accounting Profit is a company's sum total earnings, computed according to Generally Accepted Accounting Principles (GAAP), and involves the explicit costs of operating business, l
Why might managers favour this ABC system instead of the older system that allocated all MOH costs on the basis of direct? labour?
State Material price variance Difference among standard price and the actual price of the material is the material price variance. This variance arises because of various facto
Adm2341 manufactures and sells four different products. The following data are extracted from the most recent financial statements: Products
10 questions
Conceptual understanding: defining in identifying relevant information Business application - Dave burgers is in the fast food restaurant business. One component of it's market
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