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Ordering cost is incurred whenever the inventory is replenished. It includes costs associated with the processing and chasing of the purchase order transportation, inspection for quality expediting overdue orders and so on it is also known as the procurement cost.
The parallel of the ordering cost when units are produced within the organization is the set up cost. It refers to the cost incurred relation to developing the production schedules the resources employed in making the production systems ready and so on.
critically explain cost accounting as 1. a service activity 2. a descriptive/analytical discipline 3. an information system
This can be explained as the process of accumulating, calculating, analyzing, interpreting and reporting cost information that is both helpful and relevant to the internal and exte
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what do i need to know before the overhead preparation?
Labour Costs Definition of Labour Cost A labour cost refers to all the costs incurred in compensating the human resources used in the production process to provide a us
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