Cost allocation for indirect costs Cost Pool – Set of costs that are added together before being allocated to cost objects on some common basis Cost Driver/ Allocation base Cost Object Cost Driver Rate = Total Costs in Pool/ Total Quantity of Driver Where total quantity of driver = practical capacity of driver Cost of excess capacity = Cost Driver Rate * Excess capacity Predetermined overhead rate - cost per unit of the allocation base used to charge overhead to products. Predetermined
Premium Costs Cost driver Cost
Street Journal. Cost Management and Strategy – refer to your assigned questions and problems Cost Drivers and Basic Cost Concepts -- What is a cost? Define cost pools. What is a cost object? cost assignment? Contrast a direct cost with an indirect cost. Define cost allocation. What is an allocation base? Contrast cost assignment with cost allocation. What is a direct material? Direct labor? Indirect material? Indirect labor? factory overhead? What are conversion costs? Prime costs? What are the
Premium Management accounting Costs Variable cost
Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
Premium Costs Cost accounting Cost
Cost Management or Cost Control In broad sense‚ both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations‚ many times‚ one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits Making
Premium Cost Costs Cost accounting
activities; c. Productive activities‚ such as finished goods transportation‚ storage‚ customer contact‚ order processing‚ etc. d. Sales activities to let customers understand and buying of goods‚ such as advertising‚ promotion‚ marketing agency costs‚ etc; e. Service activities‚ including training‚ repair‚ maintenance‚ components renewal etc‚ aiming at improving the added value of products. Auxiliary activities: a. Procurement activities‚ to refer to the purchase of used in enterprise value
Premium Cost Human resource management Human resources
Musgrave has changed since the time he saw him at the mystery. He describes him as “dressed like a young man of fashion — he was always a bit of a dandy — and preserved the same quiet‚ suave manner which had formerly distinguished him.” First‚ an indirect presentation of external appearance is he “dressed like a young man of fashion‚” here readers note from Holmes description‚ to their own‚ as it indicates that he still dresses nicely‚ with a sense of fashion. Again‚ he presumably wears a suit and
Premium Sherlock Holmes A Study in Scarlet Arthur Conan Doyle
guiding me in my recovery from friends‚ doctors‚ nurses‚ and family. As I returned home from the hospital the front door to our house resembled a revolving door with friends and family constantly coming and going. The teachers from my high school personally called me to express their love and care‚ one even offered to bring a web cam into her classroom so I would not fall behind on the material! The sheer support and constant uplifting made my month long journey of home recovery fly by. After three
Premium Nursing Physician Medicine
Harvard University [pic] Harvard University is the oldest institution of a higher education in the United States‚ and has been providing citizens with a higher level of education for approximately 376 years‚ and we would probably be in a different economical‚ political‚ and social state if it was never established. Harvard University (originally for only men) was established in the year 1636 by the grant of the Great and General Court of the Massachusetts Bay Colony. Harvard was named
Premium Harvard University
Chapter 1 Basic Cost Concepts Learning Objectives • To understand the meaning of different costing terms to understand different costing methods • To have a basic idea of different costing techniques • To understand the meaning of cost sheet In order to determine and take a dispassionate view about what lies beneath the surface of accounting figures‚ a financial analyst has to make use of different management accounting techniques. Cost techniques have a precedence over the other
Premium Costs Cost accounting Management accounting
Oracle9i Backup and Recovery Concepts Release 2 (9.2) March 2002 Part No. A96519-01 Oracle9i Backup and Recovery Concepts‚ Release 2 (9.2) Part No. A96519-01 Copyright © 2001‚ 2002 Oracle Corporation. All rights reserved. Primary Author: Lance Ashdown Graphic Designer: Valarie Moore Contributors: Beldalker Anand‚ Tammy Bednar‚ Don Beusee‚ Wei Hu‚ Donna Keesling‚ Bill Lee‚ Lenore Luscher‚ Ron Obermarck‚ Muthu Olagappan‚ Francisco Sanchez‚ Vinay Srihari‚ Steve Wertheimer The Programs
Premium Database Database management system Oracle Corporation