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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.
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
Variable costs are the cost that are directly proportionate with the quantity of manufacture and or directly associated with the service.
With the introduction of computer-generated animated films (CGI), there has been much discussion of the impact on the movie industry. For example, illustrators need to have differe
1) Please elaborate on the attached performance report by preparing a presentation to "management" which incorporates the information presented in the performance report. Present t
Conan O'Brien Logging and Lumber Company owns 3,300 acres of timberland on the north side of Mount Leno, which was purchased in 2000 at a cost of $650 per acre. In 2012, O'Brien be
The following information is provided to you concerning Lydia Ltd as at 30 June 2012. Assume a company tax rate of 30%. (i) The balance of rent received in advance in the balan
introduction on proess costing
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Define the concept of opportunity cost in your own words. Given an example from your own life of the opportunity cost of a decision (do NOT use classroom examples). Explain why o
How do I figure the estimated activity and estimated allocation base?
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