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ADVANTAGES OF "ABC ANALYSIS"
The advantages derived from this analysis and its consequent follow up are summarized below:
1) Facilities selective control and thereby save valuable time of busy executives.
2) Eliminates lot of unnecessary paper work involved in various other control procedures. Tangible savings can be affected in this behalf by following Two-Bin System which is very closely related with this technique.
3) Facilitates Inventory Control and control over usage of stores materials which ultimately results in cost control.
The Ragan Corporation uses a process cost system. The company started March with 2,300 units in Work in Process-Dept. A. During the month 4,000 units were started. At the end of th
Proprietary ratio/ equity ratio Meaning: the ratio measures a relationship among proprietor's funds and the total assets. Objective: the objective of computing this ra
Cause Company is planning to invest in a machine with a useful life of five years and no salvage value. The machine is expected to produce cash flow from operations of $20,000 in e
Frontier Sports sells hunting and fishing equipment and provides guided hunting and fishing trips. Frontier Sports is owned and operated by Wally Schnee, a well-known sports enthus
Characteristics of irrelevant costs
EVALUATION OF THE REGRESSION MODEL The regression equation calculated above was based on the assumption that cost varied with the units produced. However, a number of different
Steps in Strategic Cost Analysis 1) Recognize the suitable value chain and allocate costs and assets to it. 2) Identify the cost drivers of each value activity and how they int
State Material price variance Difference among standard price and the actual price of the material is the material price variance. This variance arises because of various facto
Determine the cost according to normality According to normality: under this category cost may be categorized as follows: Normal cost: it is the cost which is normally i
Explain the main purpose of cost centre The main purpose of cost centre is two fields. 1. Recovery of cost: costs are collected, classified into two field in respect of
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