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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.
Direct Material Usage Variance Refers to the difference among the actual quantity utilized and the standard quantity particular for the actual production, all valued at the st
Cost - Terms Used in Cost Accounting It measures the economic sacrifice created to achieve an organizations aims. For a product, cost represents the monetary measurement of re
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
Calculate the equal monthly payments and the cost of financing on a 25-year mortgage. The cash value of the house today is $500,000. You are paying monthly at a fixed rate of 6% pe
The Accountant has also asked for you to assist in preparing the statement of financial position (balance sheet) for the Construction in Building partnership for the year ended 30
Total profit means the total revenue excluding the total cost of the certain products. Average profit defines the profit which comes and achieved after selling each unit. Total
a. If you could pick a single source of cash for your business, what would it be? Why? b. How can a business earn large profits but have a small balance in Retained Earnin
sabonis consmetics co. purchased machinery on december 31,2011, paying $50,000 down and agreeing to pay the balance in four equal installments of $40,000 payable each dec 31. an as
Ask The James Company, a wholesaler, budgeted the following sales for the indicated months June 2004 July 2004 August 2004 Sales on account 1800,000 1,92
How to fix price in times of competition
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