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A machine originally had an estimated useful life of 5 years, but after 3 complete years, it was decided that the original estimate of useful life should have been 10 years. At that point the remaining cost to be depreciated should be allocated over the remaining:2 years5 years7 years8 years10 years
UTILITY OF BREAK EVEN POINT IN MANAGERIAL DECISION MAKING 1. It assists in determination of sales mix 2. It assists in exploring new markets 3. It assists in deciding abo
fixed expenses are incurred equally in the two half year periods,calculate
Example of LIFO, FIFO and Weighted Average Method Suppose the following purchases were made in ABC Ltd as like: Date of purchase Units purchased Price/uni
how can a poorly controlled budget cause problesm for a business?
Allocation of Overhead Costs Allocation of overheads is the term utilized where the overhead cost item can be charged to a exact cost center without the requirement for any es
Budgetary Planning and Control Budgeting refers to the process of quantifying the plans of an organization such as to enable it get its objectives in the defined duration. Th
Standards in Standard Costing 1) The type of standard utilized basic, attainable, ideal, current directly affects the level of the variances that can arise, and the meaning th
what is the meaning of classification of cost in relation to variability?
advantage of marginal costing
By the discussions we had previous, it is not tough to come to the conclusion that numerous factors influence the fund or net working capital needs. Fund needs vary along with t
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