Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Standard costing System has the following main advantages or benefits:
1. The process in itself often discloses inefficiencies, because the setting of standards requires a thorough analysis of all cost functions.
2. The process of setting standards forces management to plan efficient and economical operations.
3. Standard costs establish clearly defined lines of cost responsibility and authority.
4. Standard costs are likely to be an important aid to management in obtaining acceptable job performance by providing a clear idea as to what constitutes acceptable performance.
5. Variances between actual performance and standard costs facilitate control through the application of the principle of exception.
6. Faster reporting of operating data is possible; the shortened time between action and the availability of control information helps management to prevent the development of unfavorable cost trends.
Standard Cost Card It is a card record of the Standard or expected costs in producing a specified output. This gives the physical quantities of inputs and also their monetary
The sale turnover and profit during two period were as following Period 1=Sales Rs.20 Laks, and Profit Rs.2 Laks Period 2=Sales Rs.30 Laks, and Profit Rs.4.Laks Calculate P/V Ratio
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
jit purchase advantages
Igor and Angela were married in 2005, separated in 2011, and divorced recently. At the time of marriage, each had some investments and personal assets. They both worked during the
Vintage Auto Company manufactures parts to order for antique cars. Vintage Auto makes everything from fenders to engine blocks. Each customer order is treated as a job. Vintage Aut
Manufacturing Concern to Organization There are three manufacturing centres as Making, Packing and Finishing. These are supported through five support departments, namely Mai
Traditional budgeting systems are incremental in nature and tend to focus on cost centres. Activity-based budgeting links business planning to the budgeting proces
allocate the overheads to the three departments and do the secondary allocation of service departments
Describe the concept of full cost recovery with illustrative examples.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd