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Engineering Method of Cost Estimation
This method is based on a detailed study of each operation whereas careful requirement is made for materials, labour and equipment essential to produce a product. It includes identifying the level of input desired of an activity in form of raw material and labour whereas net cost is based upon the cost of all input. This approach is applicable whereas no past data exists. The major setback of the approach is such it needs a complex analysis of all the constituents of an activity and the necessities of an activity in terms of costs detailed into labour, materials, time and overheads.
#question.discuss the importance of cost classification to a business organisation?
Cost Flow Relationships The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items: Sales $886,900 Gross profit
Purposes of Overhead Cost Analysis There are a number of situations whether the analysis of overhead costs will assist in the satisfactory evaluation of the relevant cost data
a) Company X is expected to maintain a constant 7% growth rate in their dividends, indefinitely. If the company has a dividend yield of 4%, what is the required return on their
Pritchard Company manufactures a product that has a variable cost of $30 per unit. Fixed costs total $1,500,000, allocated on the basis of the number of units produced. Selling pri
Judy's mother, Sarah, died on July 2, 2006, leaving Judy her entire estate. Included in the estate was Sarah's residence (325 Oak Street, Cincinnati, OH 45211). Sarah's basis in th
Bases of Cost Classification These various bases of cost classification are summarized in the diagram underneath as: Here, we will usually refer to either of these ter
explain the various types of costs
Standard Cost It is especially serious that you establish a link between standard budgets and costs. At this point, you require putting in your mind to standard costs one the
Management Accounting It is the part of accounting such provides special-reason statements and reports to other persons and management inside the organization. The informatio
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