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Developing and Insight into Labour and Material Variance
The calculation of labour and material variances is not sufficient; we require knowing how the variance could have typically happened in the first place, and whether there is any connection among one causes of the variance to another. As an example: a higher price of materials could have resulted in a not favourable direct material price variance: although, because of the high quality though high priced input materials; it could have led to a favourable efficiency variance.
Suppose that you are the chief financial officer at Porter Memorial Hospital. The CEO has asked you to analyze two proposed capital investment-Project X and Project Y. Every proj
A transport company is preparing its cost budgets for the coming year. It has been set both social objectives & cost targets by the government which it must achieve in order to rec
This is difficult to perceive cash maintained in the vault as an investment. Fairly, you would be thinking that if we invest cash, then how can cash itself be an investment? Howeve
The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later
what is a cost sheet? what are its advantages?
Accounting for Job Order Costing 1. Direct Labor Dr W.I.P. Control Account Cr Cash Account 2. Accrued Direct Wages Dr W.I.P. Control Account Cr Wages
weekly working hour 48 , hourly wage rate 15$ , price rate per unit 6$ , normal time taken per piece 36 minuets , normal output per week 220 pieces , actual output per week 275 pie
Standard Cost and Standard Costing To effectively control the costs of a certain organization, we require a yard stick to measure the real performance against. Traditionally,
Determine Inventory Costs Mary Cosmetics sells specialty lipstick for a retail price of $12.25 each. Mary purchases each tube for $5.00 and pays the following additional amounts: $
advanced sums
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