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Purpose of Cost Estimation
In estimating it assists the future expenditure as cost prediction like the expenditure will depend upon the cost of the respective activities
a) In determining it assists the total benefits anticipated in a exact activity based on the relationship between projected revenue and projected costs.
Cost estimation is helpful in business cost control, planning and decision making performance evaluation.
Cost Book-Keeping In cost account accounts, extensive employ is made of control accounts that are based in the similar principles as those utilized in financial accounts. Two
This question tested their knowledge of intended reporting but more importantly requisite them to apply their knowledge and consider the impact from the investors' perspective.
PROFIT VARIANCES Sales variances are important as they have a direct bearing on profits earned by the organization. thus, they can be used as the basis of determining profit
Material Price Variance (MPV) This may be described as the difference amoung the actual price and the standard price of the materials consumed. MPV = Actual quantity used (S
Manufacturing Concern to Organization There are three manufacturing centres as Making, Packing and Finishing. These are supported through five support departments, namely Mai
what do you understand by cost accounting and what are the main decision areas that are involved
Moore Corporation follows a policy of a 10% depreciation charge per year on all machinery and a 5% depreciation charge per year on buildings (the corporation uses the nearest full
behabioural aspect of standard costing on budget
TYPES OF VARIANCES Variances are computed for the entire three basic elements of cost - direct labour, direct material, and overhead variance 1. Direct labour variance 2.
G. Mills was appointed a local agent for the High Power Mobile Workshop Bolt (HPMW-B) on 1 April 2009. The HPMW-B is manufactured by Mobile Equipment Ltd (MEL). The company charges
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