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Fixed Budgeting
The master budget discussed before is a fixed budget.
A fixed budget is defined via as:
1. Just one level of activity
2. Not adjusted to reflect real activity level when change happens
A fixed budget has the given limitations as:
1. It gives little assistance at the planning stage. It does not provide implication of different alternative strategies that management may wish to consider.
2. It fails to give relevant and reliable base against that to measure real performance where real activity differs from the budget.
3. Little motivation to management to employ the budgeting control system like a control aid.
Mathematical Derivation of EOQ Let cost per order is represented via Co. it is the cost incurred every instance one order is placed. Let the economic quantity purchase ever
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Now along with the illustration of Ramsons at hand, this is not tough for us to understand that Ramsons have invested the 'money to make money'. Where has Ramsons invested the mone
The next year's budget for Benny, Inc., is given below: Product 1 & 2 Sales $945,000 & 688500 Variable costs 459,900 & 297,000 Fixed costs 300
Absorption Costing The process described in this section by that net overheads are absorbed into production naturally enough is identified as absorption costing. The absorpti
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Bubba's Crawfish Processing Company uses a traditional overhead allocation based on direct labor hours. For the current year, overhead is estimated at $1,150,000, and direct labor
Distinguish between, (i) short-run variable costs & long-run variable costs, and give an example of each one; (ii) the marginal cost & the average cost of production
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