Determine the cost according to normality, Managerial Accounting

Assignment Help:

Determine the cost according to normality

According to normality: under this category cost may be categorized as follows:

Normal cost: it is the cost which is normally incurred at a given level of the output in the condition in which that level of the output is attained. It is charged to costing profit and loss account.  

Abnormal cost: it is the cost which is not normally incurred at a given level of the output in the condition in which that level of the output is attained. It is charged to costing profit and loss account.    

 


Related Discussions:- Determine the cost according to normality

Define the balanced score card, Define the Balanced Score Card? 1. Dist...

Define the Balanced Score Card? 1. Distinguish between standard control and budgetary costing. 2. Define the ‘Balanced Score Card? Explain the steps in implementing ‘Balance

Accounting for business enterprise, a)      Calculate  and  discuss  the ...

a)      Calculate  and  discuss  the  nature  and  role  of accounting  for  business enterprise.  b)      Determine and discuss  the desirable qualities  expected from the prep

Accounting concepts, implications of applying accounting concepts wrongly

implications of applying accounting concepts wrongly

Explain the interpretation of equity ratio, Interpretation of equity ratio ...

Interpretation of equity ratio As equity ratio show the relationship of owner funds to total assets higher the ratio or the share of the shareholders in the total capital of th

Net current assets forecasting method, It is the most practical way of esti...

It is the most practical way of estimating working capital needs. In such method, the finance manager gets ready a working capital forecast. While preparing such forecast, firstly

Material control, MATERIAL CONTROL It is said that "any fool can sell"—...

MATERIAL CONTROL It is said that "any fool can sell"—it is buying at the right price that is more critical to the achievement of a satisfactory return on capital employed.  Buy

Ranking of decision packages , Ranking of Decision Packages The rankin...

Ranking of Decision Packages The ranking procedure is employed to establish a rank priority of decision packages in the organization. Throughout the ranking procedure managers

What are the principles of management accounting, What are the Principles o...

What are the Principles of management accounting? 1. The procedures and methods to be followed for keeping and analyzing financial statements should have consistency. It enable

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