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Relevant Costs and Decision-Making
The relevance of costs will depend upon the purpose for that they are being utilized. Relevance is related to future decisions. The relevance of costs in decision-making is concerned to where they are ignorable in relation to the decision made or whether they are not avoidable; in that case they will stay irrespective of the decision taken. Therefore relevant costs in decision-making are said to be incremental and future costs relating to the decision to be made. If they will result in a difference then costs are incremental as like an example of avoidable costs result in reduced costs if they are ignored. Future costs are those costs that have not now been incurred that are they are not committed costs or sunk costs.
31. Special Orders Maria’s Food Service provides meals that nonprofi t organizations distribute to handicapped and elderly people. Here is her forecasted income statement for April
types of operating costing
What are the major arguments for absorption costing?
Determine how much to stock 1. Employ The Economic Order Quantity Model This is an easiest model which helps the manager to find out the optimum quantity of stock to order
actual cost
equity ratio?
an application of marginal costing
These balances for a company x Raw materials $40,000 Work in process $30,000 Finished goods $60,000 for the current year the company estimated that it would work 150.000 m
responsibility of director of finance and logistics
The follow data relates ot year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dir
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