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Input or exogenous variables These are variables of two types: 1) Controlled variables: These are variables that can be controlled by management. By changing the input
Difference between budgetary control and standard costing Budgetary control The budgets are prepared for the concern as a whole. The budgets are fixed on the basis of p
Product life cycle costing It is an approach used to give a long term picture of product line profitability feedback on the effectiveness of life cycle planning and cost data t
Activity Based costing and Functional Based Costing compare them together in terms of efficiency, advantages, disadvantages and accuracy.
Contribution margin Analysis Contribution Contribution is the difference between sales and variable cost or marginal cost of sales . if may also be defined as the excess
Q. Evaluate a proposed investment? BMP Consulting (BMPC) conducted an analysis of Delta Corp. and found that the firm consists of two different divisions: Pet Lovers, a pet sup
Marketing refers to the promotion of products, especially advertising and branding. But marketing includes product management, pricing, prom
Ask question #Miwhy is the activity based costing unaccepable for external financial reportnimum 100 words accepted#
How costs behave as the level of activity/volume changes. Why an understanding of cost behaviour is important ? Types Variable e.g. petrol, direct materials Fixed e.g.
BUDGETARY CONTROLS Control in a business is the process of guiding organization into viable patterns of activity in an environment. The main purpose of a control system is to m
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