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LIFE CYCLE COSTING
Introduction
Life cycle costing as its name implies costs the cost object i.e., product project etc. over its projected life. It is used to explain a system that tracks and accumulates the actual costs and revenues attributable to cost object from its inception to its abandonment. The profitability of any given cost object can thus be determined at the end of its economic life.
Life cycle costing is dissimilar to traditional cost accounting system which report cost object profitability on a calendar basis i.e. monthly quarterly and annually. In contrast life cycle costing includes tracing cost and revenues on product by product bases over several calendar periods. Costs and revenue can be examined by time period but the emphasis is on cost revenue accumulation over the entire life cycle of every product.
Advantages of incremental budgeting a) The budget is stable and change is gradual b) Managers can operate their departments on a steady basis c) The system is relatively
2x2+8x-m3 = 0
I am part of a marketing group, and we are working on a project for a local cable company,they currently serve 3,200 customers and sell 50 wireless boxes a month,what I need to do
accounting process or accounting cycle
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THE BREAK EVEN POINT
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