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Zero Based Budgeting
It is referred to also like priority based budgeting. It is a cost advantage approach budgeting where it is assumed that the cost allowance is Zero for any item till the manager responsible justifies its existence in terms of costs and benefits.
CIMA definition: it method of budgeting whereby all activities are re-evaluated each time the budget is set. It is concerned along with alternative implies that established activities have been compared along with alternative employs of the same resources.It takes away the implied right of existing activities to continue obtaining resources unless they can be implies to be the best employ of such resources.
Economic Order Quantity This constitutes the quantity purchased of either raw materials or stocks which is considered most optimum. It is the quantity such minimizes both ord
Accounting for Job Order Costing 1. Direct Labor Dr W.I.P. Control Account Cr Cash Account 2. Accrued Direct Wages Dr W.I.P. Control Account Cr Wages
By understanding the financial statements of a company, one of the first steps considered is the study of the changes in current financial position of the company and the purpose f
The following information is for the third quarter of this year: Planned Actual Production 92,000 units 87,000 units Direct labor hours 506,800 DL hrs 380,000 DL hrs Fixed manuf
Advantages and Disadvantages of Group Bonus Plan Benefits associated along with group bonus schemes involve i. It encourages teamwork and cooperation among workers ii.
A organization is evaluating a proposed 4-year project. The depreciable cost will have the following: $300,000 for the equipment, $20,000 for shipping, and $30,000 for installatio
Matheson Electronics' Canadian Branch will help introduce into Canada the just developed new electronic device which, when mounted on an automobile, will tell the driver how many m
FDP Company produces a variety of home security. Gary Price, the company’s president, is concerned with the fourth quarter market demand for the company’s products. Unless someth
Service Cost Centres Since no production cost units pass via the service cost centers, it is essential to apportion the service department costs; to the production cost center
Under the average cost method the average cost of goods held in stock is recalculated after each receipt. An issue after the receipts is made at the recalculated average prices. A
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