Your model should look like this: Now with the cost drivers in place‚ we are ready to calculate Auntie Wuni’s monthly costs. • Leave a row under the Spaghetti: Px/box row and create a subtitle ‘Total Cost of Ingredients’ in cell B28 • Hit Ctrl-B on cell B28 to render the title in bold • Starting from cell B29 and moving downwards‚ populate the cells in this section simply with the name of the ingredients‚ i.e. Oil; Tomatoes; Rice; Pepper; Fish; Cow-leg; Beans; Spaghetti. • Now move the
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multi-period absorption and marginal costing profit statements 2. Explaining the differences between absorption costing and Marginal costing 298) Flow of Costs under Full Absorption & Marginal Costing PERIOD COST Selling and administrative expenses FULL ABSORPTION COSTING PRODUCT COSTS Fixed manufacturin g overhead Variable manufacturing overhead Direct materials and direct labour Work in process inventory Expenses for the period Cost of goods sold Closing inventories PERIOD COST Selling
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Cost Accounting Manual 2013 STUDY NOTES FOR COST ACCOUNTING BY ATAUSH SHAFI Last Updated on: Tuesday‚ January 01 01‚ 2013 1 © For Suggestions & Feedbacks‚ contact: ATAUSH SHAFI (ataushshafi@gmail.com) Cost Accounting Manual 2013 Table of Contents CIMA OFFICIAL TERMINOLOGY .................................................................................... 3 COST OF GOODS SOLD FORMULE................................................................................ 13 COST CLASSIFICATION ...
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Economic Cost of “Power Outages” By Dr. Aisha Ghaus-Pasha Table of Contents Page No. 1. Causes of Power Outages 1 2. Quantifying Outage Costs 2 3. Incidence of Outages 4 4. Pattern of Direct Costs 5 5. Types of Adjustments to Outages 5 6. Extent of Recovery of Output 6 7. Total Outage Costs to the Industrial Sector 6 8. National Costs of Load Shedding 7 9. Policy Implications 9 9.1. Investment in Power Sector 9 9.2. Load Management
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Labor Cost Cutting Strategy In a sluggish economy‚ it is more important than ever for businesses to cut costs. Knowing how to reduce the cost of paying employees without reducing product quality‚ dropping employee morale or otherwise sacrificing the way you do business can be the difference between being in the red or the black at the end of the year. Stop the Overtime * Don’t pay overtime unless it is absolutely necessary. Remember that you must pay non-exempt employees 1 1/2 times their
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headings: • Cost advantage • Differentiation By applying these strengths in either a broad or narrow or narrow scope‚ three generic strategies result: • Cost leadership • Differentiation • Focus These strategies are applied at business unit level. They are called generic strategies because they are not firm or industry dependant. Cost Leadership: This generic strategy calls for being the low cost producer in an industry for a given level of quantity. The firm sells its products at either average
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Cost Benefit Analysis What is cost benefit analysis? Cost benefit analysis (COBA) is a technique for assessing the monetary social costs and benefits of a capital investment project over a given time period. The principles of cost-benefit analysis (CBA) are simple: 1. Appraisal of a project: It is an economic technique for project appraisal‚ widely used in business as well as government spending projects (for example should a business invest in a new information system) 2. Incorporates
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of the more basic concepts of economics. Scarcity needs trade-offs‚ and trade-offs result in an opportunity cost. While the cost of a good or service often is thought of in monetary terms‚ the opportunity cost of a decision is based on what must be given up as a result of the decision. Any decision that involves a choice between two or more options has an opportunity cost. Opportunity cost‚ scarcity and trade-off are important in our daily life because it affects us every day in different ways and
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a) COST ACCOUNTING Cost accounting system is the part of management accounting that makes budget‚ actual cost of operations‚ analysis of variance and profitability of social use of funds. Cost accounting helps the manager in decision making regarding the reduction of the cost of the company and in improving the profitability. Cost accounting system is primarily used for internal managers therefore it does not need to follow the standards of GAAP. Cost accounting is also considered very important
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Opportunity Cost Lets start with a small introduction to the topic Opportunity Cost. Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen). It is the sacrifice related to the second best choice available to someone‚ or group‚ who has picked among several mutually exclusive choices. The opportunity cost is also the "cost" (as a lost benefit) of the forgone products after making a choice. Opportunity cost is a
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