Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
SD manufactures and sells a small range of timber based products. The main differences b/w the products are their size and the type of timber they used. SD prepares annual budgets & sets a standard cost for each different product at the begining of each year. Variance reports are produced every month. Recently, there have been significant differences between the actual costs and standard costs of the products manufactured.SD recently introduced a system of Kaizen Costing which has resulted in changes to the methods used by manufacture in the timber products. Some of the directors of SD have suggested that the use of standard costs as a means of monitoring performance is no longer appropriate and that the monthly variance report is meaningless.
(a) Explain the principles of Kaizen Costing.
Kaizen Costing is a system of cost reduction which is based upon the concept of continuous review of systems and procedures to identify and implement small incremental cost savings. It is used in the production phase of a product and employees are both encouraged and empowered to recommend changes that they believe will reduce costs without affecting the quality of products or otherwise affect the customer’s perception of products
what is the role of cost accounting in business
Functional Classification of Costs Beneath this classification, costs are classified according to the function they execute in an organization. Costs can functionally be clas
what do you understand by cost accounting and what are the main decision areas that are involved
Reserves and surplus or retained earnings usually occur out of profitable operations. This is a surplus not distributed through the firm as dividends. Conversely, these are profits
Compute Over and Under Absorption of Variable and Fixed Overhead A company has a machine cost center for that the given information is available as a) Budget i. Budget
the total (ie. aggregated) cashflows in respect to operations, with details of annual cash inflows & annual outflows in respect to operations, the total (ie. aggregated) cashflo
Advertising expense $17,200 Wages expense-assemblers 36,840 Depreciation expense-machines 21,480 Utilities expense-factory 21,120 Wages expense-lathe operators 23,480 Repair expens
A job order cost sheet for Lowery Company is shown below Date Direct Materials Direct Labor Manufacturing overhead Beg Bal Jan 1 5,000 6,000 5,100 8 6,000 12 8,000 6,400 25 2,000 2
Valuation of Inventory or Closing and Issues Stocks Valuation of inventory aims on attaching a monetary value in the issued or stores for production. It is useful in producing
You are the manager of a firm that sells output at a price of $40 per unit. You are interested in hiring a new worker who will increase your firm's output by 2,000 units per year.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd