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Margin of safety
Measures the sensitivity of budgeted sales volume compared with break-even sales volume. The difference between level of sales activity achieved and level of sales activity required to break-even in absolute or percentage terms.
Margin of safety (units)= Budgeted sales volume less Break-even sales volume
Margin of safety (%)= (Budgeted sales less Break-even sales volume/ Budgeted sales volume) x 100 Number of units sold to achieve a target profit= (Fixed cost + Target profit)/Contribution per unit
COST CONCEPTS / CLASSIFICATION OF COSTS 1. According to functions Administration cost / office cost Selling cost Production cost / factory cost / manufacturing c
Surplus Stores Ltd is a company which frequently buy goods in large quantities and makes alterations to the goods before selling. At 31 Dec 2000 the following items were included i
Generally Accepted Accounting Principles (GAAP) -Rules, conventions and procedures essential to define accepted accounting practice at a specific time. The highest level of such pr
Objectives of Budgetary Planning 1) Coordination The budgetary process needs that visible detailed budgets are developed to cover every activity, function or department
metods of absorption of manufecturing overhead
1. The table below gives data for Southland where there are three consumption goods: bananas, coconuts and grapes. Goods Quantity in base period basket
Example of Job Order Costing The given transactions were made by a company in the month of December. Direct Materials a) 8,000/- was bought on credit, out of these
manufacturing costs will not include a. indirect material used b. sales salaries expense c. indirect labor costs d. depreciation of factory equipment
If question (CA IPCC) is silent which method to follow: avg cost or fifo or lifo?
Q. Is it possible to execute fca in the deficiency of a general ledger accounting system ? Ans. Yes. FCA can be executed for whichever solid waste management system and whi
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