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Batch Costing
This is a kind of job costing that is utilized when production consists of limited repetitive work and definite number of item manufactured in one batch. A batch is explained as a cost unit consisting of a group of identical item in specific sizes and colors of shoes, spare toys, parts. The net cost incurred in production is spread on the number of units made while the batch is finished.
Procedures:
Adele Weiss manages the campus flower shop. Flowers must be ordered three days in advance from her supplier in Mexico. Advance sales are so small that Weiss has no way to estimate
Direct Labour Efficiency Variances It is the difference between the standard hours allowed for the actual production achieved and the hours actually worked, all valued at THE
traditional budgeting systems are incremental in nature and tend to focus on cost centres..explain the weakness of the incremental budgeting system and explain ways of adressing th
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Q. What was the amount of cash a firm collected from its customers, given the following fact set? The firm's balance sheets at the beginning and end of the year show gross accou
Blox ($) Shapez ($) Direct material per unit 10 23 Direct labour per unit 19 32 Manufacturing overhead per unit 7 10 Selling & Admin. expenses per unit 17 31 T
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Reconciliation of Profits Reconciliation of profits disclosed by Financial Accounts and Costing Accounts in an interlocking system, While interlocking cost accounting system
the following activities relating to indirect production costs: Activity Activity Costs Cost Drivers Machine Setup $180,000 1,500 setup hours Materials Handling $50,000 12,500 poun
list and explain all the procedures of material control
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