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Explain the Scope of cost accounting
Scope of cost accounting: the scope of cost accounting is very wide and includes the following:
1 cost ascertainment: it deals with the collection and examines of the expenses the measurement of production of the dissimilar production at the different parts of manufacture and the linking up of production with the expenses.
2. Cost accounting: it is the process of accounting for cost which starts with recording or expenditure and ends with the preparation of statistical data. It is formal mechanism by means of which costs of products or service are ascertained and controlled
3. Cost control: cost control is the guidance and regulation by executive action of the costs of operating and undertaking.
Identify whether each of the following transactions involves spot exchange, contract, or vertical integration. For the last item if the contract length is optimal or suboptimal.
Advantages and Disadvantages
Issa Company manufactures a personal computer designed for use in schools and markets it under its own label. Issa has the capacity to produce 25000 units a year but is currently p
Explain Support activitiesand production process activity Support activities are for example schedule production set up machine purchase materials inspect item customer orde
SK 2 Chapter 10: Master budgeting Objective How organisations strive to achieve their financial goals by preparing a number of budgets that together form an integrated business pla
tell me how go about charging for your services
Ordering Costs These are incurred in getting purchased items into the company’s inventory or stores, and usually consist of clerical costs of: • Making the purchase demand.
After going through this section, you must be capable to: Know the concept and characteristics of working capital; Identify with the difference among net working capital
Explain Direct labor cost standard The setting up of standard labor cost for each product would require: a) The determination of budgeted fixed overhead for a period b) B
Why is corn so frequently used in typical American foods? In what forms does it take when being part of those foods? How does that relate to the modern epidemic on obesity?
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