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DEFINITION OF BUDGET As per the Institute of Cost & Management (ICMA), London, a BUDGET is 'a quantitative statement and / or financial, prepared and approved prior to a defin
Relationship among management accounting and cost accounting Referring to CIMA's definition for cost accounting, we can determine cost accounting is a part of management accou
The follow data relates to year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dire
What is an advantage of using absorption costing? A. It permits a business to calculate the break-even point for production. B. It permits a business to calculate the total c
Expenses are usually recorded only while they are paid. The failure to record unpaid expenses in the accounts outcomes in an understatement of which expense and also an understatem
A company has an authorized share capital of 250 million divided into 1,500,000 ordinary shares of sh.100 each and 1,000,000 preference shares of sh.100 each. 1,000,000 ordinary sh
Target Income Calculations Breaking even is not the bad thing, but surely not a satisfactory outcome for most businesses. In its place, a manager might be more interested in le
Critically evaluate the product costing and pricing practices actually in use in modern manufacturing organisations inany of the three countries in the Asia Pacific region, prefera
This task involves the recording of non-current asset information in the general (nominal, main) ledger and other non-current asset matters. You are assisting in preparing the a
Make-or buy and relevant costs - The assembly division of Davenport, Inc., is bidding on an order of 50,000 smart phones. The division is eager to get this order because it has a s
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