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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.
Advantages of standard costing 1) Measuring efficiency: standard costing is a yardstick for measuring efficiency. The comparison of actual costs with standard costs enables t
Advantages of activity based costing 1) It helps understanding the behavior of overhead costs and their relations ship to products services customers and market segments. 2)
Case study of Orion Financial Management - Portfolio Management? Maria Gilbert is a principal in the company of Orion Financial Management. For 20 years she was chief investm
What is Direct material cost variance It can be defined as the difference between the standard costs of direct material specified and the actual cost of direct material used.
Transition probabilities These are the probabilities of moving from one state to another in the next time period. Usually they are written in the form of a probability matrix.
x+2y+3z=6 2x+4y+z=7 3x+2y+9z=14
Intra company transfer pricing A company engaged in production may have several segments division or departments doing production jobs or manufacturing party or fully finished
11.1 Process Solutions provides a computer-based document processing service. The accountant has produced the following analysis. Standard Modified Advanced Sales quantity 1,000
Explain Skimming pricing It is one of the most commonly discussed pricing method is the skimming pricing. This pricing method to the firm's desires to skim the market by sellin
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