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Explain the techniques of performance budgeting
It will also be useful to examine the three major aspects of this technique:
Structural aspects: the structural aspects involve the development of suitable classification of functions programmer and activities.
Analytical aspects: the analysis aspects of performance budgeting will identify the alternative programmer and activities on the basis of cost benefit analysis. Then the annual budgets can be prepared incarnating the activities on the basis of priorities
Information aspects: the informational aspects of performance budgets implementation of the budget control and appraisal of achievements.
How marginal costing would improve the problems faced in absorption costing on manipulation of profits.
companyXYZusesthe job oder costing system.
Explain the Types of standards The following is the brief description of various types of standards: 1) Basic standards: these are the standards which are assumed to remai
The Ragan Corporation uses a process cost system. The company started March with 2,300 units in Work in Process-Dept. A. During the month 4,000 units were started. At the end of th
What is Direct material cost variance It can be defined as the difference between the standard costs of direct material specified and the actual cost of direct material used.
It is a spontaneous source of finance that is commonly extended to business organization depending on the custom of the competition and trade prevailing within the organization and
Disadvantages of the cost accounting: 1. It is unnecessary: it is argued that maintenance of the cost records is not necessary and involves duplication of work. It is based o
Coleman, a married taxpayer, is going to establish a manufacturing business. He anticipates that the business will be profitable immediately due to a patent he holds. He predicts t
Lock Box System: In this type of system, the customers are advised to mail their payments to a post office box hired through the firm for collection purposes near their region. T
Break even analysis and target profit, taxes - Patterson Parkas Company's sales revenue is $30 per unit, variable costs are $19.50 per unit, and fixed costs are $147,000. a)Compute
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