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Limitations of Budgeting
1. Too mush reliance may reason resistance or inflexibility to change.
2. Difficult to set levels of attainment. It may result into too tight budgets that reasons loss of morale.
3. Antagonism whereas budgets exert undue pressure.
4. Budgeting control is a terminate exercise and hence any type of report from investigation of variances may be of little employ to the current operations.
Methods of Work in Progress The two main methods used for purposes of valuing the opening work in progress: 1. Weighted Average Method 2. FIFO or First In First out Meth
behavioral aspect of standard costing
When implementing ABC, once a company has identified business activities and their costs, the company will probably: A) determine a simplified single cost allocation rate B)
describe the procedures involved in payroll labour cost accounting
advantage of physical measure
MARGINAL COSTING AND DIFFERENTIAL COSTING 1. Differential costing can be used both in case of marginal costing and absorption costing. 2. In case of marginal costing
Example of Economic Order Quantity The EOQ model supposes : - Annual demand is recognized - Hold costs are constant and recognized - Ordering costs are recognized a
Calculate Cost or Equivalent Units The given work in progress account concerns to the blending department of a company, a soft-drinks company for the month of January in 1999
Dolphin Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2013 for $8,000,000 and had an estimated useful life of 8 years w
At the end of Ehlinger Department Store's fiscal year on December 31, 2012, these accounts appeared in its adjusted trial balance: Freight-In $ 7,200
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