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Material storage
Sophisticated mathematical models to control economic buying, and systems control the flow of material may all be for naught if the obvious-efficient storekeeping-ignored. Good practice in this respect implies:
Replacement cost It is the cost of replacing a material or asset, by purchase from the current market. If an X material was originally purchased @ Rs. 250 per Kg. And know i
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Coefficient of Determination (r 2 ) If the regression line calculated by the least square method were to fit the actual observations perfectly, then all observed points would l
Explain TWO limitations of using accounting ratios to assess the performance of a firm and suggest how each limitation may be improved
Once the credit information is accumulated the subsequent step is to analyze the gathered information and isolate those matters that may need further investigation. The factors whi
Discuss arguably how management accountants should decide when are faced with the extra shift decision
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Stock-out costs These are the opportunity costs of running out of stock. They comprise: 1) The costs of lost customer sales, and therefore lost contribution to fixed costs.
Cost-Volume-Profit assumptions The main assumptions required in C-V-P analysis are: 1) The relationship holds merely within the appropriate range. The relevant range is a ba
Inventory planning & control under uncertainty The basic EOQ model assumes that all the parameters (elements) in the model are certain (i.e. can be predicted precisely in advan
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