1.       Cost of Abnormal Wastage = Normal cost ÷ Normal output x Abnormal Wastage inn units 2.       Cost of Abnormal Effectives = Normal Cost ÷ Normal Output x Abnormal Effectives […]

[wp_ad_camp_1] Profit to be taken to Profit & Loss in case of Incomplete Contracts. 1. When the work certified is less than ¼ of the contract price: No profits to […]

Economic batch Quantity: 1.       EOQ = √ 2AB / CS A = Annual consumption in units               B = Buying cost per order C = Cost per unit                                               S = […]

[wp_ad_camp_1] Factory Overhead Rate: (i) Direct Material Cost Method =Amount of Factory Overheads ÷ Cost of Direct materials used x 100 (ii) Direct Labour Cost Method = Amount of Factory […]

        Maximum Level Maximum Level = Re-order level + Re-order quantity – (Minimum consumption x Minimum Re-order period) 2.       Minimum Level Minimum Level = Re-order level – (Average […]

Our society is changing. Nuclear families are the norm. Inflation is high and hence money needed to fund the retirement is increasing. Additionally due to longevity of life, the requirement […]