Explain the costs terms, Accounting Basics

Assignment Help:

Question 1:

Briefly explain the following costs terms:

  • Variable costs and fixed costs
  • Semi- variable costs and semi-fixed costs
  • Past costs and future costs.

Best Resort Ltd grows pineapples. The budget for March 2010 is as follows:

                            Rs

Direct materials  12,000
Direct Labour     15,000

(i) Describe what is meant by the revaluation method of depreciation. Give two examples to illustrate your answer.

(ii) Give two limitations of this method of depreciation.


Related Discussions:- Explain the costs terms

Describe the meaning of spin-off?, Spin off is making new company by sellin...

Spin off is making new company by selling or distributing the shares of existing company

Advantages and disadvantages of lifo, Q. Advantages and Disadvantages of LI...

Q. Advantages and Disadvantages of LIFO? LIFO: Advantages (a) LIFO reports both sales revenue and cost of goods sold in current dollars and (b) lower income taxes result if use

State the term- debits must always equal credits, State the term- Debits mu...

State the term- Debits must always equal credits To help understand Temporary Owner's Equity accounts. All transactions which affect owner's equity could be recorded in one

During the fiscal period just ended some of the inventory, During the fisca...

During the fiscal period just ended some of the inventory in the warehouse of Jamie Ltd. wasn't counted. Jamie Ltd. uses a periodic inventory control system. Explain how the foll

Explain about stable dollar assumption, Q. Explain about stable dollar assu...

Q. Explain about stable dollar assumption? In the United States accountants make one more assumption regarding money measurement that the stable dollar assumption. Under the st

Final accounts, stpes to be taken prepaing for final accounts

stpes to be taken prepaing for final accounts

Income Statement, Give the statement classification of each income statemen...

Give the statement classification of each income statement account

Explain the difference between various funds, Research the major funds of y...

Research the major funds of your state or local government and nonprofit organizations. • What are the major funds of your state or local government, and how do they differ in n

#nocluewhattodo, I need help understanding and filling out an income statem...

I need help understanding and filling out an income statement packet!

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd