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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.
Weighted Average Method - Work in Progress While this method is employed, all costs of production are considered in assigning costs to inventory. The method puts together open
compare tradition costing and activity costing methods of overheads abpsrption based on production units,labour hourd and machine hours
The activity driver for the shipping activity is the number of orders shipped. Product A uses 20 orders and Product B uses 60 orders. Calculate the consumption ratios for each prod
conard transfered 10000 from her account to the business
1. Provide at least three characteristics of a corporation (in your own words). 2. The date on which a cash dividend becomes a binding legal obligation is known
Capability Maturity Model Integration (CMMI) is a process development approach that gives organizations with the essential elements of effective processes. It can be used to gui
under which type of asset the investment comes
critically explain cost accounting as 1. a service activity 2. a descriptive/analytical discipline 3. an information system
Administration Costs Budget This represents the costs of all administration expenses. Every department or budget centre will be responsible for the preparation of its own bud
The following data is available regarding costs and units: Observation Machine-hours Total Operating Costs January 4,000 $45,900 February 5,000 52,500 March 3,400 44,025 April 4,40
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