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The value of un-sold stock. The stock is valued at cost or market price either is lower. Usually, the closing stock is not specified in the trial balance but is specified in adjustments. Closing stock will show on the credit side of the trading account and will also show on the assets side of the balance sheet.
explain any five qualities of accounting profession
information for the year ended December 31, 2010: Direct labor $16,840 Direct material used 16,300 General and administrative expenses 14,240 Indirect production costs 16,780 Selli
Typical Causes of Labour Variances Labour Rate Variances a) Higher rates being paid than planned because of wage raise awards. b) Lower or Higher grade of work
what is the meaning of classification of cost in relation to variability?
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
Reamer Company uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for next ye
What are the factors affecting working capital requirements
Critically evaluate the product costing and pricing practices actually in use in modern manufacturing organisations inany of the three countries in the Asia Pacific region, prefera
Describe the meaning and relevance of interdependence of variances when reporting to managers.
ANGLE OF INCIDENCE: It is an angle that is created when the entire sales line intercepts the entire cost line from below in the breakeven chart. It is inferred that higher the an
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