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Elements of Cost
Nearly there are three elements of cost - labor, material, and expenses. These are additional divided into indirect and direct material, indirect and direct labor and direct and indirect expenses. All direct costs (labor, material, and expenses) are noticeable to the last product or service of the solid. All not direct costs (labor, material, and expenses) cannot be traced to the last product or service of the firm. They are called expenditure. These expenditures are additional classified into - factory expenditure, administration and office expenditure and selling & distribution expenditures.
The owner of the Hughes Car Wash believes that the relationship between the number of cars washed and the amount of labor employed is Q = 0.8 + 4.5 L - 0.3 L2 where Q = the num
First In First Out or FIFO Method - Work in Progress This method considers merely those costs incurred throughout the recent period. Equivalent units are calculated given a
Constant Gross Margin Rate This method assumes that every product contributes an equal percentage of gross profit for every shilling of sales. It works back from gross margin
Bases of Cost Classification These various bases of cost classification are summarized in the diagram underneath as: Here, we will usually refer to either of these ter
what is total sales
Freshly Ground Investments have just made an investment of $550 000 in a new Toyota Hilux (with trailer) delivery vehicle. This vehicle will be used for deliveries and generate rev
What will be the cost of Well Water after considering the financing surrounding the purchase (savings on the loan), Well Water's (net) working capital situation, and the additional
You sell a machine for $600,000. You allow the client to pay 1/3 at the time of the sale and 1/3 at the end of year one and 1/3 at the end of year two. The company earns 10% on ass
what is the direct cost
Determine the factors that distinguish profit calculated according to (a) marginal costing and (b) absorption costing principles.
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