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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.
Product life cycle Every product has a life cycle. The life cycle of a product vary from months to various years. For example in the case of cameras photocopying machines etc.
State the steps for Standard costing system standard costing system involves the following steps 1) Setting-up of standards for each element of cost: standards should be s
Explain the Cost accounting: Meaning and definition: Cost accounting is the process of accounting for cost which begins with the incurrence of cost and ends with th
Echeverria SA is an Argentinian manufacturing company whose total factory overhead costs fluctuate somewhat from year to year according to the number of machine-hours worked in its
full explaination with diagram
Objectives of ratio analysis 1) Measuring the profitability: we can measure the profitability of the business by calculation gross profit net profit expenses ratio and other.
What does it mean when we say consistency is the central feature of economic rationality?
Define Materials cost variance Material cost variance (MCV) is the difference between the standard cost of material specified and the actual cost of materials used." It is the
The revolving credit facility will be specified by the banker to the customer through providing specific amount of credit facility for a continuous basis. The borrower will not be
A firm requires continuously monitoring and controlling its receivables to make sure that the dues are paid on the due date and no dues stay outstanding for a long period of time.
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