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What are Direct expanses
These are expanses which can be directly, conveniently and wholly allocated to a specific cost centres or cost units examples of such expanses are hire of some machinery required for a particular contract, cost of the defective work incurred in connection with a particular job or contract etc.
Requirements of a good budgeting system Following are the requirement of a good budgeting system: 1) Budgeting process should be backed and supported by the chief executive
Moore Company uses process costing. The following information was available for October: During October, 1,000 units were started, and costs incurred during the month were
The Role of Computers in Simulation Computers can be used to: 1) To generate the random numbers 2) To simulate thousands of trials. This is done extremely fast, accuratel
Advantages of Simulation 1) It can be used in areas where analytical techniques are not available or would be too complex. 2) Constructing the model inevitably must involve
Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making
Financial manager's role in inventory management The techniques of inventory management are very useful in determining the optimum level of inventory and finding answers to the
What are the Disadvantages of budgetary control 1) Uncertain future: the budgets are prepared for the future period. Despite best estimates made for the predictions may not
identify and explain cost classification for performance evaluation
Problem From the following balance sheets of Dramas Ltd., compute the trend percentages using 31st December 2005 as the base year. Assets & Liabilities
Kent Company had 800 units of product in its assembly department's work in process inventory at the starting of the period. During the period 3,000 additional units of product were
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