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Contract Costing Terminology Principles of profit income recognition in contracts The Notional Profit This is a component of two items as: a) Profit taken = Noti
How does functional classification of overheads like Manufacturing overhead,Administrative overhead affect product cost or profit?
explain fully the concept of the cost.how does cost accounting contribute to the effective and efficent management of an industrial established?
The follow data relates to year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dire
Methods of Labour Remuneration There Labour remuneration methods can be broadly classified into two factors as: i. Time rate or on the basis of the time spend in the factor
A firm operates two plants with the marginal cost curves given by MC 1 = 50 + 2Q 1 , MC 2 = 90 + Q 2 . If the firm's total output must be 80 units, how much will it produce a
Accounting Treatment of Spoilage Costs 1) Normal Spoilage Costs: These costs are assigned to the good output utilizing two approaches as: (i) Omission Approach: Under th
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process costing new practices
Overhead Costs Introduction Overhead costs may be defined like the net cost of indirect materials, indirect expenses and indirect labour. They may happen or be charged to
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