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Uniform Costing It is a general system utilizing agreed concepts, standard and principles accounting practices adopted via different entities in the similar industry to ensure
Over And Under Absorption of Production Overhead Costs This may be analyzed beneath a) Activity This is level of the business or cost center. Expenditure on several item
Comparison between Marginal Costing and Absorption Costing There are accountants who favour all costing method. Arguments in favour about absorption costing are specified a
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The value of un-sold stock. The stock is valued at cost or market price either is lower. Usually, the closing stock is not specified in the trial balance but is specified in adjust
ANALYSIS OF VARIANCE When the actual are not similar from the standards, variance exists. Variance may be unfavorable or favorable. When the actual cost is more than the standa
Disadvantages of Standard Costing 1. The system of standard costing is very expensive to install : A lot of money is spent in studying output requirements in terms of materia
How to fix price in times of competition
Stopover industries ltd, a recently incorporated company plans to go into production next year. the following standard cost matrix has been assembled for one of the products it pro
Presented below is a list of terms relating to cost behavior, followed by definitions of those terms: a. Rent on a factory building b. Engineering approach c. Fixed cost
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