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Reasons for Cost Allocation
1. To provide comparison along with externally provided services: It helps in assessing where to continue the contact or service outsiders.
2. To facilitate ideas on the efficiency of service departments: It assists to determine where a service department is operating efficiently and its size is optimal.
3. To discourage unnecessary service via some managers like they identify they'll be charged.
4. To facilitate opportunity for cost price-quality tradeoffs: Cost allocation assists to remove friction among departments. Since a user department such demands higher quality recognizes that it will contain to bear higher costs.
Cal Farms reported a supplies expense of $2,000,000 a year. The supplies amount decreased by 200,000 during the year to an ending balance of $400,000. What was the cost of supplies
Morrow Company applies overhead based on direct labor hours. At the beginning of the year, Morrow estimates overhead to be $620,000, machine hours to be 180,000, and direct labor h
A sound foundation is necessary for success in any task from building a house to putting on make up. In terms of U.S Accounting standards it is necessary to have a sound foundatio
XYZ Corporation recieves $100,000 from investors for issuing them shares of its stock. XYZ's journal entry to record this transaction would include a a debit to investment b
formula for calculting WACC
What are the importance of cost classification
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Tracking Overhead Jack would have a many task at hand if he tried to daily trace all such items of overhead. For example: x How difficult it would become to track the "
After you have studied this section, you should be capable to: know the idea of funds flowing by a business in a dynamic situation understand the role of working capital
Definitions of manufacturing concepts Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used
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