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Explain the cost According to controllability:
Controllable cost: this is a cost which can be inclined by the action of a specified member of an undertaking. The organization is divided into departments or responsibility centres each managed by a head. These costs of a particular department or centre are guided by the person in charge of the department. The costs which can be controlled by a specified member who is generally an important link in the management are the controllable costs. The head of a cost centre or a department has control over variables costs only which include prime cost and other variable overheads. So the controllable costs are the variable costs.
Uncontrollable cost: it is a cost which cannot be inclined by the action of a specified member of an undertaking. Uncontrollable is generally the fixed cost, the control of which does not lie within the providence of a member of a member of an undertaking. The change in the fixed cost is a matter to be decided at the top level of the management depending upon the policy of the undertaking
Explain the External factors of pricing decisions 1) Demand: the market demand for a product or service obviously has big impact on pricing. Since demand is affected by fact
Explain Administration cost and Pre production costs Administration cost: The cost of formulating policy, directing the organization and controlling the operating of an u
Illustrate the concept of Cost The term cost indicates the amount of expenditure (actual or national) incurred on, or attributable to, a specified thing or thing or cost unit.
Explain the terms - maintenance and improvement Maintenance ; under the maintenance function, the management must first establish policies rules directives and standard operat
What is traditional costing In traditional costing overheads are first related to cost centers (production and service centres) and then to cost object, i.e. production. ABC o
Explain Current budgets Current budgets: the period of current begets is generally of months and weeks. These budget relate to the current activities of the business. According
Innova uses 1,056 units of the component IMC2 every month to manufacture one of its products. The unit costs incurred to manufacture the component are as follows. Direct material
The other source of spontaneous short-term financing is the accrued expenses which arise by the general conduct of business. An accrued expense is an expense which has been incurre
select any manufacturing company of your choice that produces any product. describe and compare the marginal and absorption costing system used in the selected company
SSI, a meat/burger/chicken processing manufacturing plant loacted in Idaho, USA prepares
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