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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
What do you mean by Economic order quantity (EOQ)? What do you understand by variance analysis? Write down any four differences between management accounting and financial accounting.
Briefly explain trial balance? Why it is prepared? Explain the importance of trial balance sheet.
Explain management accounting as an effective tool of financial control.
Stopover industries ltd, a recently incorporated company plans to go into production next year. The given standard cost matrix has been assembled for one of the products it recommends to manufacture
A general description of the documents that proposed cost accounting system requires. How the documents in facilitate operation of the cost accounting system.
As an EEC corporate business financial analyst, you should have an expert understanding of the different costing methods. Write a paper to include the following: The definition of the concept and how
pringfield Manufacturing produces electronic storage devices, and uses following three part classification for its manufacturing costs: direct manufacturing labour, direct materials, and indirect ma
Define the term costing and cost accounting. Describe the main advantages of cost accounting.
What is the predetermined manufacturing overhead rate for external reporting purpose? Is it the most suitable rate for the managerial accounting? Why?
Image Is Everything, Inc. (IIE) is located in an rising market. IIE has a demand for 750 reproductions (jobs) every month. It charges $500 per job.What is the monthly operating profit for I
If company uses activity-based costing (ABC), how much overhead cost must be assigned to Job 101? If company uses activity-based costing (ABC), Estimate the cost of each unit of Job 102?
Your organization (City Rehab) has been approached by the MCO looking for exclusive arrangement for the rehabilitation of its hip replacement patients. MCO is aggressively positioning itself to comp
Define the concept of opportunity cost in your own words. Given an example from your own life of the opportunity cost of a decision.
Using the financial data provide calculations that support your advice to the company on whether it must produce the three components or outsource them.
Interpret the data and make recommendations based on data in the Ethical Challenge.
Calculate cost of goods available for sale and the number of units available for sale. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) specific identification-units sold