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(i) Wages Paid in cash
(ii) Wages incurred like
a) Direct labor or else
b) Indirect labor
In the Financial Books
In the Costing Books
i. Wages Paid in Cash
Dr Wages a/c
Dr Wages Control a/c
Cr Cash a/c
Cr General Ledger Adjustment a/c
ii. Wages Incurred as direct labour
Not recorded in Financial Books
Dr. W.I.P a/c
Cr. Wages Control
Dr. Production Overheads Control a/c
Consider the following information, prepared based on a capacity of 40,000 units: Category Cost per Unit Variable manufacturing costs
Which method of measuring costs associated with production is more widely used in practice A. Normal Costing B. Actual Costing C. Both are used equally D. Neither one
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Question Hornsby Manufacturing has four categories of overheads. The four categories and the expected overhead costs for each category for next year are as follows:
The Integrated Management Project is to be based on an organisation, a strategic business unit, or profit centre that has good potential for growth and development. The brief is to
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