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It is important to have performance measures to evaluate managers as they control resources and invest in assets for the company. Describe how you could use different variances (actual to standard) to evaluate performance. Additionally, there are nonfinancial performance measures that can be used. Are there any that you think would be more or less important to a manufacturing company or a service company? Can you provide an example of a personal spending variance that you have experienced? I need a decently detailed response to this question.
importance of marginal costing &standing costing
Time Rate System - Labour Remuneration It may be a high day rate or a flat time rate. Under flat time rate, all worker is paid for the time spend without considering the vol
CONTRIBUTION : It is the variation between the marginal cost of sales and sales and it contributes towards fixed profit and expenses. It is differ from the profit which is the net
Visual Fit Method of Cost Estimation Cost estimation is based on past data regarding the dependent variable and the cost driver. The previous data on cost levels and the outpu
Cash is the other form of fund although in a narrow sense, this refers to a supply which can be drawn upon as per to the need. Here the term cash involves both cash and cash equiva
Question P A RT A Borrico ltd manufacture a single product and they had currently introduced a system of budgeting and variance analysis. The subsequent information i
DIFERENCE BETWEEN MARGINAL AND DIFFERENTIAL COSTING
The following details were extracted from the standard cost card of a component: Raw Materials 2.82 Kgs @ Rs.4.80 Kg. Direct Labour Type I 6
how do I apportion
how to determine reasonable, allowable, allocable, variable, fixed cost of new company
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