Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Cost Book-Keeping
In cost account accounts, extensive employ is made of control accounts that are based in the similar principles as those utilized in financial accounts. Two main accounting systems are generally used as:
Interlocking Cost Accounting System:
Beneath this system, financial accounting and separate cost accounting books are maintained though both employ the similar basic accounting data. The financial accounting books contain the normal and credit entries inside themselves. In addition, a memorandum account identified also as Cost Ledger Control accounts is keep and all the items to be transferred in this account, to the cost accounts are posted.
Cost accounting books on another hand contain impersonal accounts essential for costing reasons in addition to a Financial Ledger Control Account, identified also as Cost Ledger Control Account that enables the financial and Cost Ledger to be interlocked. The interlocking cost accounting system, therefore costing and financial profit differ and contain to be reconciled at the ending of the financial year.
1) A) In a competitive market place (pure competition) is it possible to continually sell your product at a price above the average cost of production? Why or why not? B) Why d
The following data is available regarding costs and units: Observation Machine-hours Total Operating Costs January 4,000 $45,900 February 5,000 52,500 March 3,400 44,025 April 4,40
The follow data relates ot year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dire
Requirements of Uniform Costing 1. Uniform costing systems must process the given features as: 2. Cost reports and statements should be organized and laid out in a same for
Time Analysis - Cost Accumulation This is generally achieved via having the employee complete a daily or weekly timesheet or via contain job cards or piecework tickets. As whe
tHE FIRST SECTION ASSIGEMTN ANSWER FOR HAMPSHIR COMPANY DECISIONS
1. Issuance of stock Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for each of the following independent cases: a. Jacks
Critical Thinking about Cost Flow It is simple to overlook an important aspect of cost flow within a manufacturing operation. If you see that have taken note of an important co
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 involvem
The Zooline Company (Pty) Ltd is an American based company that focuses on the LSM 8 -10 markets. They do vehicle interiors, raise or lower suspensions and install top end sound sy
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd