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Explain the main purpose of cost centre
The main purpose of cost centre is two fields.
1. Recovery of cost: costs are collected, classified into two field in respect of a location, person or an item of equipment and then the costs are distributed over the products for recovery of incurred cost and
2. Cost control: cost centres assists in making a person responsible for the control of expenditure by the cost centre. Manager of each centre shall control costs incurred in his area of responsibility. The size of the cost centre depends on the activity and operation, and feasibility of the cost control. Sub cost centres are created if the sizes of the cost centres become too big from control point of view.
Selling product for 31.00 and Variable expenses are 26.00. In order to cover the fixed expenses 31,500 hats must be sold what is the Total fixed cost in dollars?
Problem Marginal costing plays a major role in making certain decisions. It provides information to management regarding the behaviour of costs and the incidence of such costs
Computing equivalents units and assigning costs to completed units and ending work in process; no beginning inventory or cost transferred in (30 -45min) Sue Electronics makes CD p
Determine the cost according to normality According to normality: under this category cost may be categorized as follows: Normal cost: it is the cost which is normally i
Pricing decision Price may be defined as the exchange of goods or services in terms of money. Without price firm can survive in the society. If money is not there exchange of g
Illustration of Coefficient of Determination The production manager of XYZ Company is concerned about the apparent fluctuation in efficiency and wants to determine how labour c
companyXYZusesthe job oder costing system.
Transfer Pricing and Performance Evaluation Transfer pricing is simple in concept and yet complex in implementation. It provides a divisional output valuation where output from
Determine the Inputted cost It is hypothetical cost required to be considered to make costs comparable. It is the owner of the factory charges rent of the factory to the cost
Stages in activity based costing The different stages in activity based costing are listed below and are shown in figure below. 1) Identification of the activities that may
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