Cost Accounting

Distinguish between Normal and Abnormal Idle Time Idle time indicates that time for which wages are paid to the workers but no production obtained during…

Idle time indicates that time for which wages are paid to the workers but no production obtained during that time. It happens when employees or…

Different methods of Remuneration of Labor Remuneration has been defined as the reward for labor and services rendered. All business organizations should have a proper…

Pre-determined Overhead Rate A predetermined rate is a probable amount of overhead costs that managerial accountants calculate an activity base will use. Predetermined overhead rate…

Causes of Under and Over Absorption of Overhead Under absorbed factory overheads: this situation arises if the overheads absorbed are less than the actual overheads.…

As a business manager, staff turnover is one area to keep an eye on throughout the year. High labor turnover can be recognized to a…

The costs of service departments are allocated to the operating departments because they exist to support the operating departments. The sequence of allocation usually starts…

Importance of Economic Order Quantity Economic order quantity (EOQ) is the order quantity.bf inventory that minimizes the total cost of inventory management. It is a…

Differences between Bin Card and Store Ledger Bin Card implies a document which records the quantity of material received by, issued to and remained in…

Economic order quantity (EOQ) is the order quantity.bf inventory that minimizes the total cost of inventory management. It is a measurement used in the field…