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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.
The income statement of Holly Enterprises shows operating revenues of $134,800, selling expenses of $38,310, general and administrative expenses of $36,990, interest expense of $58
Methods of Labour Remuneration There Labour remuneration methods can be broadly classified into two factors as: i. Time rate or on the basis of the time spend in the factor
First of all, look at the balance sheet and income statement as a whole and spot the problem with it. Answer all questions given in the question + dig into each element of the bala
what is total sales
Each unit of a product requires four components. The average number of components is 4.25 due to component failure. Purchasing higher quality components can reduce the average numb
Determine the factors that distinguish profit calculated according to (a) marginal costing and (b) absorption costing principles.
CONTRIBUTION : It is the variation between the marginal cost of sales and sales and it contributes towards fixed profit and expenses. It is differ from the profit which is the net
Phelps Glass Inc. has reported the following financial data: net revenues of $10 million, variable costs of $5 million, controllable, fixed costs of $2 million, non-controllable fi
Differentiate between Multiple Products, Selling Costs and Margin Management
cost classifications and examples
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