--%>
Assignment Help - homework help

Actual costing

A function of measuring and assigning production costs to determine the unit cost. Actual revenue assigns the real cost of materials, labor, and overhead to mass production. Compare with normal costing, which uses a predetermined rate to assign overhead to production costs. Actual costing is rarely used because actual overhead cost is not available in time to calculate the needed unit cost. Actual costing expands upon the functionality of the application components with the purpose of determining actual costs for externally procured materials and materials produced in-house. In addition, actual costing uses actual costs to valuate material inventories, such as raw material as well as quasi finished and finished product

 

 

 

   Related Questions in Managerial Accounting

  • Q : Define Traceability Traceability : The

    Traceability: The capability to assign a cost directly to a particular activity or cost object by identifying or observing particular resources used by the activity or cost object.

    		•
  • Q : Cash flows from operating activities

    The first section of the statement of cash-flow. Cash flows from operating activities include transactions (involving cash) that relate to the normal busi- ness activities of the entity. Cash-flows in this section usually involve cash and other current asset or curren

    		•
  • Q : Reconstitution of Partnership Meaning

    Meaning of Reconstitution: Any alter in agreement of partnership is termed as reconstitution of partnership firm. In following circumstances a partnership firm might be reconstituted: A) Alter in Profit Sharing Rat

    		•
  • Q : Things which Strengths comprises Write

    Write a brief note on the things which Strengths comprises?

    		•
  • Q : Liability of partners Liability of

    Liability of partners: A) Under contract law: Liability is joint only (collectively); The creditor has only one right of action (except in NSW, where liability is now joint and several).

  • Q : Problem related to budget surplus Refer

    Refer to the below data. A budget surplus occurred in year: A) 2. B) 3. C) 4. D) 6. Provide solution of th

    		•
  • Q : Define Opportunity Cost Opportunity

    Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.

    		•
  • Q : Annual report A company's annual report

      A company's annual report is the single most important way for it to convey itself to potential investors. As such, it should be no surprise tha

    		•
  • Q : Analysis on Business Profile BUSINESS

    BUSINESS PROFILES:Go to the following webpage by clicking on the link or by copying and pasting the URL into your web browser:After opening the link, you will see a small cover page of the West Newsmagazine’s publication titled “Business Profiles&rdq

    		•
  • Q : Partners-firm and firms name What do

    What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P

    		•