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OBJECTIVES OF COST ACCOUNTING
1)To help in the development of long range plans by provided that cost data that acts as a origin for projecting data for planning.
2)To make sure well-organized cost control by communicating necessary data costs at regular intervals and thus minimize the cost of manufacturing.
3)Find out cost of activities or products, which is helpful in the purpose of quotation or selling price.
4)To recognize profitability of each process, department ,product, etc, of the business.
5)To offer management with information in association with a variety of operational troubles by comparing the definite cost with standard cost, which discloses the variances or discrepancies.
Tracking Direct Materials Jack keeps full records of the material released to each job. When Donnie gathered up light bulbs, tape, breakers, wire, and wire nuts on the morning
Matheson Electronics' Canadian Branch will help introduce into Canada the just developed new electronic device which, when mounted on an automobile, will tell the driver how many m
draw up statements of affairs to show the profit or loss for the year
Show the effect of an increase in each of the items listed below on the FCFF and FCFE. Suppose a $100 increase in every case and a 40 percent tax rate a. Net income b. Cas
Cost Element Stage 1. Cost Elements The raw data concern with Labour, Expenses, and Materials are gathered from Invoices, Payroll, and Requisitions and Goods Issued Notes
Material Cost Control Therefore Materials form an important cost of output units and that should be controlled. Material Control is more than merely recording the accounting
Following figures are taken from annual budget of ABC manufacturers for the year 2013: Fixed factory overhead Rs. 4,000,000 Factory overhead absorption rate Rs. 70 per direct labor
MLC, which was established in year 1998, manufactures a range of garden sheds and summerhouses using timber purchased from a various suppliers.The recently appointed managing direc
behabioural aspect of standard costing on budget
Allocation of Joint Costs Whereas two or more products of relatively high value emerge simultaneously from a single process, they are named as joint products. The processes s
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