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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
advantage of physical measure
Budgeted direct labour cost 75000 hours @ $16 per hour Budgeted manufacturing overhead 80 000 hours @ $17.50 per hour Actual direct labour cost $997 500 Budgeted manufa
Choice of Budget Flexing Basis The most suitable flexing basis must be considered where it assists in the comparison of alternative budget data at the planning stage and for
Storage and Issue of Material A number of questions are relevant in this control of materials throughout storage and question of materials. These are as: a) Stock control r
Budgetary Planning and Control - Accounting Techniques A budget is a plan of action expressed in monetary terms. Therefore it is a quantified plan of what one intends to do.
Process Costing Procedure 1. The production factory is divided into a number of methods. 2. An account is maintained and opened for every process. 3. Every process accou
Consider as Illustration. Profit and loss account of TIL demonstrates, that, operations have given gross addition of Rs. 360 million to funds throughout the period. These funds sho
Questions 8-10 rely on the following data. FrontGrade Systems allocates manufacturing over- head based on machine hours. Each connector should require 11 machine hours. According t
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
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