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Standard Cost
A predetermined cost is representing the ideal or norm achievable through an organization. Standard costs form the basis of a standard cost system used extensively in manufacturing industries. At the starting of each year neither the organization normally review standards for material price and usage, wage rate, labor efficiency and overhead rates based on budgets.
using relevant examples discuss the meaning and scope of cost accounting
1.Assume that Abel business corporation is purchasing new equipment, for 350,000$ at the beginning of 2014. Assume that Abel business corporation is in the 30% corporate tax bracke
SALES REVENUE VARIANCE (SRV) The word 'Sales Variance' is indicated by the expression 'operating profit variance due to sales' by ICMA. It is described as 'the difference betw
raw an organization chart of any actual or hypothetical manufacturing organization to show the position of management/cost accounting department within an organization and discuss
Balance Sheet 2010 2011 Assets Cash
Now along with the illustration of Ramsons at hand, this is not tough for us to understand that Ramsons have invested the 'money to make money'. Where has Ramsons invested the mone
prepare an overhead analysis sheet
what are the advantages and disadvantages of marginal costs plus a fixed lump-sum fee?
Costs and Revenue Cost of the development work done in-house to 1 January 2009 has been £1.5m with a further cost of £50,000 per month from now until the software is ready
Standard costing System has the following main advantages or benefits: 1. The process in itself often discloses inefficiencies, because the setting of standards requires a thoro
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