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Explain the Scope of cost accounting
Scope of cost accounting: the scope of cost accounting is very wide and includes the following:
1 cost ascertainment: it deals with the collection and examines of the expenses the measurement of production of the dissimilar production at the different parts of manufacture and the linking up of production with the expenses.
2. Cost accounting: it is the process of accounting for cost which starts with recording or expenditure and ends with the preparation of statistical data. It is formal mechanism by means of which costs of products or service are ascertained and controlled
3. Cost control: cost control is the guidance and regulation by executive action of the costs of operating and undertaking.
directing[ budgeting
Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,730 and two jobs in process: Job No. 429 $2,150, and Job No. 430
The president expects sales to increase by 12% next year. By how much should net operating income increase? Sales $2,000,000 Variable expenses 1,000
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State performance budgeting according to carter performance According to carter performance budgets use statement of mission goals and objectives to explain why the money is be
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How do you compare two companies operating leverage? Must the sales volume be set the same or the net operating income?
Accounting Profit is a company's sum total earnings, computed according to Generally Accepted Accounting Principles (GAAP), and involves the explicit costs of operating business, l
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