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As cash is very essential for the survival of any business, it is often recommended to make a cash budget, as it is no use budgeting for product ion and for sales if, throughout the budget period, t
Compute the marginal and absorption costing profit for the month.
You are the Cost Accountant of an industrial concern and have been assigned the responsibility of developing a cost accounting system. Initially it has been decided to make three production cost cen
Make a statement to show the total overheads for each production department, exhibiting the basis of apportionment chosen.
Describe what you understand by the term incremental budgeting.
Direct labor cost variance, analyzed into rate and efficiency variances.
In short term decision-making context, which one of the given would be a relevant cost:
Compute the variances for materials, labor and variable overheads.
Rayor Electronic generates a high-end compact disc player which sells for Rs 1,200. Total operating expenses for the past six months are as shown below:
The success or failure of a business based on its ability to manage cash. Therefore the cash budget is of utmost significance. Illustrate.
PNQ Limited manufactures and sells a single product. The standard production cost for a single unit of the product is as shown below:
Assume that management decides that at least 12,000 pairs of Master model should be produced. Determine the opportunity cost of this decision?
Use a break-even chart to explain accurately the break-even point and the profit or loss computed above (the use of graph paper is optional). Find out the breakeven point in sales value and the Marg
What do you mean by activity-based-costing? How does it distinct from traditional product costing approaches?
In brief describe some advantages of cash budget, making reference to an organization of your preference.
The given is the actual and budgeted data of a company for the first period ended 31st March 2010:
In brief describe three causes for each why Material usage and Labor efficiency variances take place.
What are the other non-financial factors which require to be considered before taking a decision apart from financial elements?
Comment in brief on possible future developments and advantages in the Utopian Hotel’s cost accounting system if it decides to adopt the Activity Based Costing.
Suppose that they could get a 10 percent discount per bedpan if they order at least 1000 at a time. Should they take advantage of this discount?
Describe any five techniques of computing costs. Make a distinction between revaluation technique and sinking fund technique of providing depreciation.
Differentiate between the following: Cost Control and Cost Reduction and Cost Allocation and Cost Absorption.
Explain the term Cost Accounting. Write down the differences between cost accounting and financial accounting?
What do you understand by allocation and apportionment of overhead? In which industries is operating coating used.
Explain the meaning of the term “Analysis of Financial Statement”. If the current ratio is 2.5, liquidity ratio is 1.5 and working capital Rs 60,000. Find current assets and current liabil