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what is traditional costing system
Opportunity Costs Are Relevant Costs Opportunity cost introduces an additional concept that is not available like part of normal cost analysis in the accounting record system.
What are the basic characteristics of a relevant cost? Why are future costs not always relevant? Are all relevant costs found in accounting records?
Variance Analysis This section describes how labour, material and overhead variances are calculated and what causes every of those variances. A chart is given also to describe
Beaver Company (a multi-product firm) produces 5,000 units of Product X each year. Each unit of Product X sells for $8 and has a contribution margin of $5. If Product X is disconti
Decision Making Nature of Decision-making Decision-making may fall into any type of the following categories as: 1. Short run operational decisions 2. Short run t
Expenses paid in previous of their use or consumption is termed as prepaid expenses. At the ending of the year, a portion of the payment keeps unconsumed and is treated like an ass
These sources of funds are resources increased from outside the organization to augment funds availability for any of the utilizations to be discussed later. Generally, there are o
Motivation - Behavioural Aspects of Standards Variance analysis and standards setting requires to be carried out like it motivates managers and other employees. It should not
with relevant illustrations and examples, discuss the different overhead costing and control method.
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