What is cost control? what are the duties of a cost controller?
How machine hour rate is calculated?
Latest Answer: total cost of machine / total machine hours ...
The term Gross and Net are often heard in business.please give examples where these terms are used ?
Latest Answer: Gross amount is before deducting taxes and duties net amount is after deducting taxes and duties...In terms of expenses, net profit = gross profit -(minus) indirect expenses. ...
Latest Answer: There are two types of freight charges one is Inward and the other one is Outward.Inward is grouped under Direct expenses and it may be taken into landed cost. Outward is grouped under Indirect expense and it will be incurred after production. ...
What is the meaning Contribution Margin ? How is use ? etc
Latest Answer: In cost accounting the concept of Contribution exist. Costs are bifurcated into Fixed and Variable. Equation is simple: fixed cost + variable cost + profit = sale pricein short sale price - variable cost = fixed cost + profitThis "Fixed cost + profit" ...
Explain the process of cost reporting
What is the difference between cash flow statement and funds flow statement
Latest Answer: Funds flow statement includes the transactions which are made on credit basis whereas Cash flow statement includes transactions recorded on current date basis. ...
What is the basis of Purchasing?
Latest Answer: details of purchasing ...
Latest Answer: what is limited liability clause complet detailes of this question ...
what is the difference between cost accounting and management account
Latest Answer: since fixed cost doesn't change whether you decide to produce or not to produce...eg rent, thus in marginal costing fixed cost element is removed so as to arrive at contribution... hence fixed cost is irrelevent cost in marginal costing ...
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