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Procedure of material acquisition
A stores record is maintained into which the quantity and value of materials received is entered. Issues of materials to production are made by authorized materials requisitions which are also entered into the stores ledger to keep that record up to date continuously, and also into the appropriate job or process const record.
As already indicated, all the procedures may be integrated into a computerized stock record which can provide information at the press of a button to the storekeeper, buyer, production planner, financial manager or any other person authorized to key into it. For example, information on slow-moving stock items can be obtained automatically and without delay.
Objectives of the cost accounting The Objectives of the cost accounting are ascertain of costs, fixation of selling prices, proper recording and presentation of cost data to th
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How to write introduction on strategy plan
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1. Calculate the manufacturing costs for the year. 2. Prepare a statement of cost of goods manufactured. 3. Prepare an income statement (assume an income tax 25%)
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