IS STANDARD COSTING OBSOLETE? Department of Accountancy University of Kelaniya What is Standard costing? Standard costing is technique which establishes predetermined estimates of the costs of products and services and then compares these predetermined costs with actual costs as they are incurred. Management Accounting 2 What is Variance? The difference between a cost’s actual amount and its budgeted or planned amount Unfavorable cost variance Actual cost > Budgeted Amount Favorable cost
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Prashant Zanwar University of Central Florida I. Introduction To Maglev Technology And Application 1.1 Principle of Maglev System Maglev is a system in which the vehicle runs levitated from the guideway (corresponding to the rail tracks of conventional railways) by using electromagnetic forces between superconducting magnets on board the vehicle and coils on the ground. The following is a general explanation of the principle of Maglev. fig. 1.1 1.1.1 Magnetic Levitation The "8" figured levitation
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AN IDEAL APPROACH TO STANDARD COSTING By Jitesh Chandak INTRODUCTION Before you start your study on standard costing you must be clear in your mind that you are going to study a chapter which wants more practice and hard work to develop a strong and sound concept. Costing can be defined as “The technique and process of ascertaining costs.” Standard costing is a technique‚ which uses standards for cost and revenue for the purpose of control through
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he’s put on almost 24.5 lbs‚ his body fat has increased from 11% to 18% and his liver is on red alert. And it took him 8 weeks to get his liver back to normal and over one year to get down to his previous weight. And coincidentally shortly after Super Size Me was released‚ McDonald’s announced it was
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PAKISTAN AS A SUPER POWER In a recent article‚ “Turning Challenges into Opportunities” we argued that Pakistanis are a brave‚ resilient‚ and highly intelligent people who‚ under a strong‚ determined‚ and patriotic leadership‚ can surmount any crisis. Furthermore‚ there are many reasons that Pakistan could become a global superpower within few decades. Of course‚ in the sublime sense‚ the only superpower is the Almighty Allah. However‚ in more mundane terms‚ a superpower can be defined as
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My Superhero If I were a superhero‚ I would want to be like super woman. She can do almost anything she wants. I could fly‚ shoot laser beams through my eyes‚ have super strength‚ invisibility‚ and have super speed. My name would be The Bullet. [ (Your Super Hero Name) ] If I were a superhero‚ my powers would be flying‚ strength‚ laser eyes‚ invisibility‚ super strength‚ and super speed because then I could get places faster‚ be stronger‚ melt things with my eyes‚ and secretly be places without
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Could the eruption of the Yellowstone National Park super-volcano cause a mass extinction? The Yellowstone volcano is known to many as the most dangerous volcano is America. Right now‚ the ground underneath Yellowstone National Park is rising at an alarming rate. In fact‚ it is rising at the rate of about three inches per year.‚ which is practically unheard of. The reason why this is such a concern is because underneath the park sits the Yellowstone supervolcano‚ the largest volcano in North
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My Favorite Super Hero Today you may have written your essay on your favorite Marvel or DC super hero. But are they really your hero? Do they save you from danger everyday of your life? Are they there to comfort you in your toughest times? Are they there to keep you safe in your deepest situations? Do they wrap you in there arms when you are feeling lonely and depressed? I don’t think any of the DC or Marvel super hero’s can do any of this for you. They are just fantasy role models
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Chapter 7 Variable Costing: A Tool for Management Solutions to Questions 7-1 The basic difference between absorption and variable costing is due to the handling of fixed manufacturing overhead. Under absorption costing‚ fixed manufacturing overhead is treated as a product cost and hence is an asset until products are sold. Under variable costing‚ fixed manufacturing overhead is treated as a period cost and is charged in full against the current period’s income. 7-2 Selling and administrative expenses
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course entitled ‘AP Macroeconomics‚’ I truly had no idea what the ‘macro’ in the word meant. Of course I knew the meaning of economics—it’s everywhere in these trying times of the economy‚ plus‚ it was a vocab word in middle school. Now that I’ve read Super Freakonomics‚ I have an understanding of what the prefix in the word actually means and I find it interesting‚ perhaps even a future career option‚ or major in college. This book made me think in different ways‚ ways that I never imagined to think
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