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LIMITATIONS OF STANDARD COSTING
1. It may be very difficult to fix standards for all operations.
2. Incorrect standards may result in wastage of money and time.
3. Standards must be reviewed from time to time, if not reviewed, they lose relevancy.
4. It pre assume determination of actual costs.
Alternative to Total Overhead Variances There is an easier approach to overhead variances. In this approach, the overheads are NOT sub-divided into their fixed and variable e
Cost Units - Terms Used in Cost Accounting It is the quantitative units of the service or product in relation to those costs are ascertained. The cost unit will be determined
Identify the individual cost components and the total cost of delivering the product from supplier to retailer. Identify each cost in terms of the incremental addition to the pro
Early customers at Graffiti Week balk at the price for Moondoggie Reserve. The marketing department at DFW, Jolene, conducts some research that suggests Stanislaus county residents
ADVANTAGES OF COST ACCOUNTING 1. It helps in efficient decision making. 2. It assists in cost drop. 3. It is useful in obsession of selling price
Occurrence of Overhead Variances Overhead variances arise mainly because of the conventions of the overheads absorption process. The overhead absorption rates employed in this
Apportionment of Overheads Apportionment of overheads occurs whereas the net value of an overhead item is shared among more or two cost centers that employ the overheads. Th
Cost Accounting advantage and features
what do you understand by cost accounting and what are the main decision areas that are involved
a partial income statement
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