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LIMITATIONS OF COST ACCOUNTING
Cost Accounting similar to additional branches of accountancy is not an precise science although is an art which was developed throughout theories and accounting observe based on commonsense and reasoning. These practices are active and evolving. Therefore, it requires a uniform process applicable to all the industries crossways.
1. It is costly and as such may not be practical for small businesses.
2. It is based on evaluation.
3. It may not be appropriate to all sorts of industries.
4. Occasionally, the mistakes in financial statements may get reflected in cost accounts.
what is the meaning or definition of cost objective?
Bentley Plastics Ltd. Has annual fixed cost of $450,000, variable costs of $15 per unit and a contribution rate of 40% a. What annual revenue is required to break even? b.
Atkinson's Reliable Tools makes two products that use similar raw materials: #587Q and #253X. Estimated production needs for a unit of each product follows. #587Q #253X Steel (in p
PH plc operates a modern factory that changes chemicals into fertilizer. Due to the the demand for its product is seasonal, the company expects that there will be an average
a company has the budget for manufacturing overhead based on direct labor hours. budgeting at 10,000 direct labor hours are as follows. Variable costs= 160000 Fixed Costs
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 re
I would like to know the solution on this one.
Allocation of Overhead Costs Allocation of overheads is the term utilized where the overhead cost item can be charged to a exact cost center without the requirement for any es
What are investment appraisal methods when opening a new project?
what is overhead cost classfication of cost overhead
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