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Question 1 Discuss the various elements of cost
Question 2 Explain the various stages involved in the distribution of factory overheads
Question 3 Define activity-based costing.Explain the steps or stages involved in designing an ABC system
Question 4 List the limitations of budgetary control. What is the difference between a budget and a forecast?
Question 5 From the undermentioned figures, prepare accounts indicating the cost of process and the total cost. The production was 480 articles per week Process I Process II Process IIIMaterials Rs 3,000 Rs 1,000 Rs 400Labour 1,600 4,000 1,200Factory Overheads 520 1,440 500
Office overheads amounting to Rs.1,700 should be apportioned on the basis of wages. Ignore stock in hand and work-in-process at the beginning and end of the week
Standards in Standard Costing 1) The type of standard utilized basic, attainable, ideal, current directly affects the level of the variances that can arise, and the meaning th
Profit Analysis and Cost Volume or CVP Analysis CVP Analysis checks the relationship between profit, activity level and the cost. CVP Analysis assists in a broad range of p
Typical Causes of Material Variances Price Variances a) Paying lower or higher prices than planned. b) Losing or gaining quantity discounts via buying in large
Keyser Beverage Company reported the following items in the most recent year. Net income $40,630 Dividends paid 5,390 Increase in accounts receivable 12,130 Increase i
Reasons for Overhead Variances Useful for Control Reasons Overhead variances are essentially a book balancing exercising giving an arithmetic reconciliation between the actual
EFFECTIVENESS AUDITING is one type of internal audit. Describe and evaluate this type of internal audit. What types of organisation would it be most useful for? Required: 1)
The following is a summary of a cash book for the year ended 31 April 2012 Payments $ Receipts
7.14
Cost Classifications and Estimation Cost classification may be defined like 'the arrangement of cost items in a logical sequence having concern to their nature and reason to b
Your client has asked you to evaluate an investment project for her using what you have learned in school regarding the net present value method. The project will run for eight yea
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