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marginal costmarginal cost is the change in a firms cost of production it is related to a unit change in its output or the added cost of producing
how are gains from the sale of 167 1244 stock treated gains on the sale of 167 1244 stock is treated
business is started with the objective of making profits but the conservatism concept says not to anticipate profit why
pro forma financial statementsin accounting a financial statement in which the amounts begin are fully or partially estimates from the latin for as a
standard costa predetermined cost is representing the ideal or norm achievable through an organization standard costs form the basis of a standard
tax shieldsa tax shield is defining any reduction in a corporations tax bill which can be brought about by management depreciation for example create
tax havena country with tax-preference laws for foreign organization and individuals 3 classes of jurisdictions are provided to as tax havens those
several years ago magdelena purchased a new residence for 300000 currently the outstanding mortgage on the residence is 260000 the current fair value
activity based costing and functional based costing compare them together in terms of efficiency advantages disadvantages and
why are the main contribution teams can make to an organisation what are the conditions necessary in organisations if people are to work effectively
definition of budgetas per the institute of cost amp management icma london a budget is a quantitative statement and or financial prepared and
budgeta budget is a quantitative expression of a business plan for a particular future period generally a yearbudget is the planned future course of
profit variancessales variances are important as they have a direct bearing on profits earned by the organization thus they can be used as
sales revenue variance srvthe word sales variance is indicated by the expression operating profit variance due to sales by icma it is described
fixed overhead variance fovfixed overhead variance has been described by icma london as the variation between the standard cost of fixed overhead
variable overhead variance vohvvohv is defined by icma london as the variation between the standard variable production overhead absorbed in the
overhead variancesunlike labour and direct material the manufacturing overhead is not completely variable with the level of production so
labour varianceslabour cost variance lcvdescribed by the icma london labour cost variance is the variation between the standard direct wages
direct material yield variance myv it has been described by the icma london as the variation between the standard yield of the actual material
materials mix variance it can be described as that portion of direct material usage variance which is the variation between the actual quantities
material usage variance muvthis is the variation between the actual quantity of material consumed and standard quantity which should have been
material price variance mpvthis may be described as the difference amoung the actual price and the standard price of the materials consumedmpv
direct material cost variances dmcvthis variance is a general difference in the standard direct material cost and the actual direct material cost
types of variancesvariances are computed for the entire three basic elements of cost - direct labour direct material and overhead variance1 direct
analysis of variancewhen the actual are not similar from the standards variance exists variance may be unfavorable or favorable when the actual cost