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Purpose of Cost Accounting Information Cost accounting is employed for a number of reasons, some of that are briefly described in the given points as: a) Accounting for co
Flexible Budget Flexible budget is a budget that is designed to change in accordance along with the level of activity attained. It includes budgeting at various levels in anti
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
An investment alternative in a project requires a capital cost of $102 millions completed at time zero. The investment will produce a stream of revenue of $50 millions per year ove
Types of Standard Costs The standard cost set could be ideal, basic, attainable or current. i. Basic Standards: These are long term standards that would keep unchanged ov
process costing new practices
Describe the meaning and relevance of interdependence of variances when reporting to managers.
It may be dispute that in a total quality environment, variance analysis from a standard costing system is redundant.í Talk about the validity of this statement.
A listed entity, had 3,000,000 $1 ordinary shares in issue, On 1 January 2009 CSA.CSA made a bonus issue of 1 for 3, On 1 May 2009. CSA issued 2,000,000 $1 ordinary shares for $3.2
The manufacturing division of an electronics company uses activity-based costing. The company has identified three activities and the related cost drivers for indirect production c
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