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You have recently graduated from VU and are now working for a small accounting firm. The firm recently purchases MYOB software for internal use. Upon learning that you had learnt M
A fixed cost is a cost which can't be easily identified or related to a cost per unit or activity of any kind for example a cost which remains constant when production of a service
Activity Based Costing or ABC Absorption costing shows to be relatively straightforward way of adding overhead costs to units of production utilizing, more often than not, a v
Direct Material Cost Variances (DMCV) This variance is a general difference in the standard direct material cost and the actual direct material cost. This variance may be prese
Place a prepared slide of Paratuecium under the microscope and focus it under low power (5x x 5x) and observe the following: i) It has a cigar-shaped or slipper-shaped body
OVERHEAD VARIANCES Unlike labour and direct material, the manufacturing overhead is not completely variable with the level of production. So, standard costs for factory overh
the following activities relating to indirect production costs: Activity Activity Costs Cost Drivers Machine Setup $180,000 1,500 setup hours Materials Handling $50,000 12,500 poun
Time Rate System - Labour Remuneration It may be a high day rate or a flat time rate. Under flat time rate, all worker is paid for the time spend without considering the vol
What are the basic characteristics of a relevant cost? Why are future costs not always relevant? Are all relevant costs found in accounting records?
priple of accounting
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