Loading...
• Acquisition cost (3 month weighted average) are used Supply & Drug Items Acquisition cost (3 month weighted average) are used for Chargeable Supplies and Drugs • Labor - ratio of cost to charges [RCC] • Rlti Vl UitRelative V alue U nits - expectd t fi tted costs of inputs- lblabor minutes, supplies (for supplies included in the
Fixed Cost / Contribution per unit = = 25,000 units At production level of 25,000 units, the total cost will be Rs 6,25,000 Calculatedas(25000×14 + 2,50000) Statement showing Profit & Margin of safety at different level of production Break Even Sale = Rs 6,25,000 25,000x25 Production InUnits Total Sale InRs Total Cost InRs Profit Sales
cost that is necessary to earn the revenues shown on the income statements Marilyn explains to Joe that the income statement is a bit more complicated than what she just explained, but for now she just wants Joe to learn some basic accounting concepts and some of the accounting terminology
COST ACCOUNTING STANDARDS (Basic Understanding only) (CAS 1 to CAS 24) 4 (d) Reconciliation of cost accounting records with financial accounts
1:- Define cost, costing , cost accounting and cost accountancy Ans:- Cost:- It is defined as “ the amount of expenditure incurred on ,or attributable to a given thing
-cost accountancy Interactive Lecture: Basic Overview of meaning of cost and other terms 2 Objectives of cost accounting 1 Elucidate the purpose of cost
acquainting the students with the basic concepts used in cost accounting and management accounting having a bearing on managerial decision-making
The knowledge of costs and their origin is a prerequisite for cost management Cost accounting represents how cost originate Therefore, the basics of cost ac-
Elementary Cost Accounting Notes 107 Basic Cost Concepts ACCOUNTANCY term cost is used in this very form In reference to production/manufacturing