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Q. Given the below information, what is the dollar amount that the LIFO liquidation added to gross margin?
Number of Units
Price per Unit
Beginning inventory
10
1
Purchases
12
3
Sales
15
Ending inventory
7
Q. What kinds of benefits have communities realized due to FCA? Communities have understood the following benefits by using FCA: • Rates or tipping fees are set right and fa
Comparison between Absorption and Marginal Costing Marginal Costing like a cost accounting system is considerably different from absorption costing. It is an optionally metho
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A company manufactures a single product. Estimated cost data regarding this product and other information for the product and the company are as follows: Sales price per unit Rs.2
3. Definitions of manufacturing concepts Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies us
DEMERITS OF BREAK EVEN POINT 1. It pays no attention to considerations like effect of government policy changes, changes in the marketing environment etc 2. Fixed cost, enti
what is traditional costing system
what is lean accounting
Morrow Company applies overhead based on direct labor hours. At the beginning of the year, Morrow estimates overhead to be $620,000, machine hours to be 180,000, and direct labor h
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