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Behavioural Aspects of Standards
Budgets and Standards rely heavily on the people who have to work to meet them. Since the detailed nature of standard costing and its involvement along with foremen and production workers, communication is crucial. Production workers frequently view performance review along with a lot of suspicion, whether a cost-conscious, positive attitude is to be developed, after that close attention must be granted to the behavioral aspects of the system. In shortly, variance analysis is often not considered via those being evaluated like a neutral objective and purely technical process. This is since it has subjective and human aspects that in turn affect the employees' behaviour in the organization: These are discussed under the given headings as:
on the first day of the current fiscal year $2,000,000 of 10 year 7% bonds with interest payable annually, were sold for $2,125,000. Present enteries to record the following transa
DEFINITION OF BUDGET As per the Institute of Cost & Management (ICMA), London, a BUDGET is 'a quantitative statement and / or financial, prepared and approved prior to a defin
what is the role of cost accounting in business
Purposes of standard cost accounting connection - suppose you were a management consultant and the client asked you the advantages and disadvantages of using standard costs and cos
Over And Under Absorption of Production Overhead Costs This may be analyzed beneath a) Activity This is level of the business or cost center. Expenditure on several item
Bugga Corp expects to sell 3,000 units in October, and expects sales to increase 20% each month thereafter. Sales price is expected to stay constant at $8 per unit. What are budge
RC School District has a large number of students in need of remedial instruction. The superintendent of RC School System can allocated her budget between purchasing X units of re
Distinction between Absorption and Marginal Costing These are two approaches of arriving at the cost of production or total profit for a specified period. The major difference
question and answer: XYZ trading purchased 6,850 killos of material at a total cost of 21,920.00. The material price variance was 1,370.00 favorable. The standard price per killo w
formula for economic order quantity
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