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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 and supplies to finished goods that helps to maximize long-run profits.
Two limits must be imposed in controlling inventory levels, because there are two danger points that management usually wants to ignore. Such problems are:(i) That inadequate inventories, disrupts production and may lose sales.(ii) That excessive inventories, introduces unnecessary carrying costs and obsolescence risks.
Mosman Ltd makes a single product. The projected sales for the first month of the coming year and the starting and ending inventory data are as follows: Sales 80,000 units Uni
Input or exogenous variables These are variables of two types: 1) Controlled variables: These are variables that can be controlled by management. By changing the input
What are the Advantages of budgetary control This budgetary control system helps in fixing the goals for the organization as a whole and concerts efforts are made for its achie
contribution margin
Define role of Management Accountant The main role of management accountant is defined below. Planner e.g. budgeting Information provider e.g. operating statement
Illustration: ABC analysis Combine items on the basis of their relative value to form three categories—A, B and C. The data in the table below illustrates the ABC analysis.
MATERIAL CONTROL It is said that "any fool can sell"—it is buying at the right price that is more critical to the achievement of a satisfactory return on capital employed. Buy
Under this method, approximated profit is calculated depends on transactions of the ensuing period. Afterward, decrease or increase in working capital is determined adjusting the e
Compute the value of share of a company? A company paid dividend amounting to Rs. 0.75 each share during the last year. The company is supposed to pay Rs. 2.00 per share throug
What is the correct formula for Post Cost?
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