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OBJECTIVES OF COST ACCOUNTING
1)To help in the development of long range plans by provided that cost data that acts as a origin for projecting data for planning.
2)To make sure well-organized cost control by communicating necessary data costs at regular intervals and thus minimize the cost of manufacturing.
3)Find out cost of activities or products, which is helpful in the purpose of quotation or selling price.
4)To recognize profitability of each process, department ,product, etc, of the business.
5)To offer management with information in association with a variety of operational troubles by comparing the definite cost with standard cost, which discloses the variances or discrepancies.
Optimise Manufacturing Cost Of late it is perceived that in order to optimise manufacturing cost, a product might be designed and financed in one country; its material /compon
Direct Labour Efficiency Variances It is the difference between the standard hours allowed for the actual production achieved and the hours actually worked, all valued at THE
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Cost Flow Relationships The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items: Sales $886,900 Gross profit
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