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Flying High Company manufactures model airplanes. During the month, it manufactured 10,000 airplanes. Each one used an average of 6.5 direct labor hours and an average of 1.5 sheet
Role of Cost Accounting in Organization Like part of their jobs, such cost accountants interpret results, and then report them to management and give analysis such assist deci
Park & Morgan, a law firm, is considering opening a legal clinic for midde- and low income clients. The clinic would bill at a rate if $18 per hour. It would employ law students as
how to prepare separate accounts for each process given having been givent normal loss,output,overhead and output passes to next process
Standards in Standard Costing 1) The type of standard utilized basic, attainable, ideal, current directly affects the level of the variances that can arise, and the meaning th
Determine Opportunity Costs A company has material B in stock that originally cost Shs. 5000 for the 1000 Kshs in stores. The material is missing over from an old purchase ord
Determine the Absorption Rate of Overheads The budgeted production overheads and other budgeted data of compute are given as: Budget Overhead cost for the period = Ks
Standard Costs Establish the Minimum Desirable Costs When actual costs incurred exceed or else are below the standard costs, we after that investigate the variances along with
Total Variable Overheads Variances If Variable Overhead Expenditure Variance = Shs.1, 330 Variable Overhead Efficiency Variance = Shs.320 Then total variable overheads
Expenses paid in previous of their use or consumption is termed as prepaid expenses. At the ending of the year, a portion of the payment keeps unconsumed and is treated like an ass
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