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Explain Direct labor cost standard
The setting up of standard labor cost for each product would require:
a) The determination of budgeted fixed overhead for a period
b) Budgeted output in unit or standard hours during the period
c) The number of hors expected to be worked during the period
Elements of cost: 1. Material: the substance from which the product is made is known as material it may be in a raw or a manufactured state. It can be direct as well as indir
Limitation of break even charts Despite many advantages a break even chart suffers from the following limitations: 1) A break even chart is based upon a number of assumption
1. Compute the predetermined overhead rate.
a) Calculate and discuss the nature and role of accounting for business enterprise. b) Determine and discuss the desirable qualities expected from the prep
THE BREAK EVEN POINT
1. A firm's independent auditors have the responsibility to: a. assess the firm's accounting policies. b. ascertain the firm's profit potential. c. uncover all fraudulent
Definition of Linear Programming What is Linear Programming
solution.
According to the Philadelphia Inquirer, in 2004 the city of Philadelphia planned to spend $14 million to convert the Convention Center into an appropriate venue for the Republican
Accounting ratios that determine a firm's ability to convert various accounts within their balance sheets into sales or cash. Companies will usually try to shift their productio
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