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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.
Decide which costs are associated with the assignment of cost for a Job Order Costing System. Select all that apply. cost graphs (Points : 1) Raw materials are used
INVENTORY PLANNING AND CONTROL The main goal of "inventory control" is to discover and maintain the optimum level of investment in all types of inventories, from raw materials
1. Explain Value Added Analysis along with the major factors included in Management Accounting Analysis. 2 Identify the several top management styles and define their implicatio
EVALUATION OF THE REGRESSION MODEL The regression equation calculated above was based on the assumption that cost varied with the units produced. However, a number of different
differentiate between multiple product , selling cots and margin management
Budgetary control According to CIMA the establishment of budgets relating the responsibilities of executive to the requirement of a policy and the continuous comparison of achi
How much was Topaz’s operating income (income before taxes) last year?
Explain the Break-Even Analysis The study of cost volume profit analysis is often referred to as break-even analysis and the two terms are used interchangeably by many. This i
PART 1 Carlton Ltd operates at capacity and makes glass-topped dining tables and wooden chairs which are then typically sold as sets of four chairs with one table. However, some c
Simple Queues A simple queue has the following characteristics; 1) There is a simple service channel 2) There are ‘discrete’ customers e.g. customers in a bank, or aircra
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