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Discretionary fixed costs and Semi variable costs
Discretionary fixed costs are those which are incurred as a result of management discretion. These costs have two important features viz.
They arise from periodic (usually yearly) decisions regarding the maximum outlay to be incurred, and they are not tied to a clear cause and effect relationship b/w inputs and outputs. For examples of discretionary fixed costs includes advertising public relations, executives training, teaching, research, health care etc. these costs are controllable.
Semi variable costs: those costs which are partly fixed and partly variable are called semi variable costs. These costs are very with the level of production but not in direct proportion to the level of production. The examples of such costs are depreciation of machinery, maintenance of equipment, administrative costs, etc.
Explain the terms - Cost object and Activities Cost object : it is an item for which cost measurement is required for example a product or a customer. Activities: these c
Parameter prediction error: This is another aspect of faulty planning. As Hongren says, ‘planning decisions are based on predictions of future costs, future selling price, fut
the suitability of incremental budgeting to a stable and static environment
THE BREAK EVEN POINT
Private sector companies have multiple stakeholders who are likely to have divergent interests.( five stakeholder groups and discuss their financial and other objectives).
prepare all budgets
Do you think the food industry in general has equivocated on food labeling? Are all foods labeled natural in the same way? Has modern society subverted the concept of nature?
Question: A company has budgeted to produce and sell 10,000 units of a product, the selling price and the variable cost per unit of which is Rs 20 and Rs 12 respectively. Fixe
Discuss arguably how management accountants should decide when are faced with the extra shift decision
chapter 5 solution
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