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Expenses paid in previous of their use or consumption is termed as prepaid expenses. At the ending of the year, a portion of the payment keeps unconsumed and is treated like an ass
MARGINAL COSTING Vs DIRECT COSTING Direct costing is the method where only direct costs are measured while calculating the cost of the product. Indirect costs are met in opposi
manufacturing costs will not include a. indirect material used b. sales salaries expense c. indirect labor costs d. depreciation of factory equipment
Fixed Costs Are costs such do not change along with of the level of output? It is also named as autonomous cost, as it stays the similar irrespective of the activity level as
LIMITATIONS OF COST ACCOUNTING Cost Accounting similar to additional branches of accountancy is not an precise science although is an art which was developed throughout theorie
Q. Is it possible to execute fca in the deficiency of a general ledger accounting system ? Ans. Yes. FCA can be executed for whichever solid waste management system and whi
(i) Describe the difference between the balance sheet and the income statement in financial statements of companies. (ii) Give two examples of intangible assets and two exampl
Describe the manner in which a materials usage variance is divided into mix and yield component variances.
L I M I T A T I O NS OF STANDARD COSTING 1. It may be very difficult to fix standards for all operations. 2. Incorrect standards may result in wastage of mo
Eckels Wares is a division of a major corporation. The following data are for the latest year of operations: Sales
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