Latest Answer : 5 years ...
Latest Answer : it is a costing rule technique that excludes fixed cost from influencing decisions because they are said to be irrelevent cost.... simply because they are bound to be incurred even if a firm produce or doesn't produce eg rent, ...
Latest Answer : In this modern age of cut-throat competetion cost accounting for the product is must to mininize cost of product and gettting maximum profit. If the producer does not maintain or minimize waste in the cost he will be failer. ...
Latest Answer : Costs are bifurcated into 2, Fixed cost and variable cost. In fact the third category also exist which is Semi variable cost.Fixed costs are those costs which do not vary with the production level. Like rent of factory, water bill (if water is not related ...
Latest Answer : The derivative of total production costs with respect to the level of output is Marginal cost.The benefits you could have received by taking an alternative action is oppurtunity cost. ...
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 ...
Explain the process of cost reporting
What is cost control? what are the duties of a cost controller?
Illustrate the role of cost accounting in a company