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Distinction between Absorption and Marginal Costing
These are two approaches of arriving at the cost of production or total profit for a specified period. The major difference between marginal costing and absorption costing is on the treatment of the fixed cost.
In absorption costing both fixed and variable production costs are involved in the determination of the cost of a product. This implies such the fixed cost is treated like a product cost and not a period expense. It is significant for the student to note the term "fixed production costs" like they are the only costs that create the difference between the absorption and marginal in costs of production.
In marginal costing only variable costs are involved in the determination of the production cost. This implies such fixed costs are treated like period costs as:
Direct Material Price Variances The two direct material price variances can be summarized given as: From our basic data first before the beginning of the discussion on
Win Corporation sells a single product. Budgeted sales for the year are anticipated to be 609,725 units, estimated beginning inventory is 107,791 units, and desired ending inventor
Limitations of CVP Analysis The make use of the basic CVP model is just only relevant to planning and decision-making in an activity range whether the basic cost and revenue b
contract account formate
I have a project for cost account and I need the solution for it
Methods of Cost Estimation We will consider given cost estimation methods commonly employed, namely as: a. High Low Activity method b. Engineering Analysis c. Account
MLC, which was established in year 1998, manufactures a range of garden sheds and summerhouses using timber purchased from a various suppliers.The recently appointed managing direc
Dividends ................ Non-operating losses not passed through P and L A/c
The time of cashflows for the project are as follows; Operating Income (rent) is received annually, in advance. For NPV purposes they are assumed to have been received at th
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
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