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

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

#, Describe the important role that the corporate level strategy has in rel...

Describe the important role that the corporate level strategy has in relation to the development of the business and functional strategy in a multi -business organization

Collection float, Collection float considers to the gap among the times, pa...

Collection float considers to the gap among the times, payment is made through the customer/debtor and the time while funds are obtainable for use in the company's bank account. In

Functions of the treasury department, The significant functions of a treasu...

The significant functions of a treasury department are as given below: a) Setting up corporate financial goals Financial strategies and aim Treasury and financial po

Process Inventory, Hoe to find the cost of goods transferred under weighted...

Hoe to find the cost of goods transferred under weighted average method

Cash collection and disbursements, Once the cash budget has been arranged a...

Once the cash budget has been arranged and suitable net cash flows established the finance manager must ensure that there does not exists an important deviation in between actual a

What are the disadvantages of standard costing, Disadvantages of standard c...

Disadvantages of standard costing 1) Difficulty in setting standards: setting of standards in practice extremely difficult and complicated task. First it is not possible to f

Internal Controls, What is the definition of internal controls

What is the definition of internal controls

Accounting period, 1. In common, accounting period is the time period refle...

1. In common, accounting period is the time period reflected by a series of financial statements.  2. In terms of taxation, it is twelve-month period a taxpayer uses to know

Accounting , I have two problems due in two hours can you do this for me?

I have two problems due in two hours can you do this for me?

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