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Explain the terms - Cost object and Activities
Cost object: it is an item for which cost measurement is required for example a product or a customer.
Activities: these consist of the aggregate of different tasks and are concerned with function associated with cost objects.
There are two type of activities
Support activities
Production process activities
Prerequisites of a sound variances analysis system A variance analysis system would be good enough in controlling costs and evaluation performances if the following requirement
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HOW TO CALCULATE MATERIAL ACCOUNTING
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Anthony''s orchard
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