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Definition of Variance Analysis
Variance analysis can merely be defined like the process of analyzing the difference between the actual cost and the standard cost this variation is called the variance into its constituent parts. The purpose of variances is determined and management can take suitable measures.
Last in first out or LIFO LIFO is based upon the assumption such the stock purchased last is issued first. Stock valuation should here be based upon the prices ruling on acqui
Contract Costing Terminology Principles of profit income recognition in contracts The Notional Profit This is a component of two items as: a) Profit taken = Noti
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 Dir
Average costing method has the following main advantages: 1.It is a realistic costing method useful to management in analyzing operating results and appraising future production
Which of the following are easy to trace to individual jobs?: A. direct materials and overhead B. direct materials and direct labor C. direct labor and overhead
Variable Overhead Variance This is the dissimilarity between the variable overheads absorbed and the actual variable overheads warned. Therefore it can be described as the und
distinguish between bin card and store ledgre
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what are the three of product costs in manufacturing company,discuss in detail each and supporting with examples.
Show the effect of an increase in each of the items listed below on the FCFF and FCFE. Suppose a $100 increase in every case and a 40 percent tax rate a. Net income b. Cas
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