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Standard costing in modern environment
Standard costing has traditionally been associated with labor-intensive operations, but it can be applied to capital-intensive production too. With the shift to an ‘advanced manufacturing technology’ environment we have seen the following.
It is quite possible that with manufacturing technology variable overheads are incurred in relation to machine time rather labor time, and standard costs should reflect this where appropriate.
With CADCAM systems, the planning of manufacturing requirements can be computerized, with the useful spin-off that standard costs can be constructed by computer, thus saving administrative time and expense while providing far more accurate standards.
The decisions about long-term investment are depends on judgments on future cash flows, the improbability of such cash flows and the opportunity cost also of the funds to be invest
Balanced Score Card This is a popular approach in current management thinking which consists of a variety of indicators both financial and non-financial. The balanced scorecard
What is cvp?
I need help making sure I did my accounting assignment correctly
full explaination with diagram
Define the Balanced Score Card? 1. Distinguish between standard control and budgetary costing. 2. Define the ‘Balanced Score Card? Explain the steps in implementing ‘Balance
INVENTORY CONTROL The activities of a business during a financial year combine investment projects in progress with new projects commencing and others terminate within the year
VALUE CHAIN ANALYSIS Every firm is a collection of activities that are executed to design, generate, market, deliver and support its products or services. Value chain analysis
MNO Ltd produces and sells for $25 an office machine for which there is a heavy demand which the company is prevented from meeting because of a shortage of skilled labour. The dire
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