Definition of budget, Cost Accounting

Assignment Help:

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 defined period of time, of the policy to be pursued in that period for the purpose of attaining a given objective.  It may consist of income, expenditure and the employment of capital'.


Related Discussions:- Definition of budget

What is the amount of overhead applied, Morrow Company applies overhead bas...

Morrow Company applies overhead based on direct labor hours. At the beginning of the year, Morrow estimates overhead to be $620,000, machine hours to be 180,000, and direct labor h

Estimate the debt and assets ratio, 1. Wrangle Corporation stock sells at a...

1. Wrangle Corporation stock sells at a price of $80 a share and the riskless rate is 7%. Calculate the price of a 9-month call option on Wrangle stock with an exercise price of $7

Compute overhead rate per hour, Reamer Company uses a predetermined overhea...

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 amount of units, If fixed costs are $200,000 and the unit contribution...

If fixed costs are $200,000 and the unit contribution margin is $20, what amount of units must be sold in order to have a zero profit?

Calculate the nonvalue-added cost per unit, Question Roseville, Ltd., s...

Question Roseville, Ltd., sells one of its products for $500 each. Sales volume averages 1,000 units per year. Recently, its main competitor priced their competing product at 1

Sources of funds, We have noticed that working capital is needed to finance...

We have noticed that working capital is needed to finance that portion of current assets that is not financed through current liabilities. We also noticed that the investments repr

Standard cost and standard costing, Standard Cost and Standard Costing ...

Standard Cost and Standard Costing To effectively control the costs of a certain organization, we require a yard stick to measure the real performance against. Traditionally,

labour cost as the focus, Using  labour  cost  as  the  focus,  discus...

Using  labour  cost  as  the  focus,  discuss  the  differences  in  the measurement  of  labour efficiency / effectiveness where (i)  total quality management techniques and (ii)

Variance, It is important to have performance measures to evaluate managers...

It is important to have performance measures to evaluate managers as they control resources and invest in assets for the company. Describe how you could use different variances (ac

Overhead absorption, Overhead Absorption Absorption of overheads refer...

Overhead Absorption Absorption of overheads refers to the sharing out of overhead costs to the some cost centers such used the overheads. This is utilized when the overheads c

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd