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Category: COST ACCOUNTING

CONTRIBUTION

Posted on February 22, 2020February 7, 2025 By commerceiets
CONTRIBUTION

CONTRIBUTION Contribution margin of a product is the difference between the selling price and its variable cost. It is obtained by subtracting marginal cost from sales revenue of a given activity. The difference between sales revenue and variable cost is called contribution since it contributes towards fixed expenses and profit of the entire business. It…

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COST ACCOUNTING

BREAK EVEN ANALYSIS GRAPH

Posted on February 22, 2020 By commerceiets No Comments on BREAK EVEN ANALYSIS GRAPH
BREAK EVEN ANALYSIS GRAPH

BREAK EVEN ANALYSIS GRAPH Break even analysis graph Break even Analysis is the analysis of three variables viz. Cost, Volume and Profit, which explores the relationship existing amongst Costs, Revenue, Activity Levels and the resulting Profit. It is also known as Cost Volume Profit Analysis. ACCORDING TO CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS, LONDON “CVP the…

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COST ACCOUNTING

BREAK EVEN ANALYSIS

Posted on February 22, 2020 By commerceiets No Comments on BREAK EVEN ANALYSIS
BREAK EVEN ANALYSIS

BREAK EVEN ANALYSIS Break Even Analysis is the analysis of three variables viz. Cost, Volume and Profit, which explores the relationship existing amongst Costs, Revenue, Activity Levels and the resulting Profit. It is also known as Cost Volume Profit Analysis. ACCORDING TO CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS, LONDON “CVP the study of the effects on…

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COST ACCOUNTING

LIMITATIONS OF COST VOLUME PROFIT ANALYSIS

Posted on February 22, 2020 By commerceiets No Comments on LIMITATIONS OF COST VOLUME PROFIT ANALYSIS
LIMITATIONS OF COST VOLUME PROFIT ANALYSIS

LIMITATIONS OF COST VOLUME PROFIT ANALYSIS Cost‐Volume‐Profit Analysis is the analysis of three variables viz. Cost, Volume and Profit, which explores the relationship existing amongst Costs, Revenue, Activity Levels and the resulting Profit. ACCORDING TO CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS, LONDON “CVP the study of the effects on future profit of changes in fixed cost,…

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COST ACCOUNTING

COST VOLUME PROFIT ANALYSIS

Posted on February 22, 2020 By commerceiets No Comments on COST VOLUME PROFIT ANALYSIS
COST VOLUME PROFIT ANALYSIS

COST VOLUME PROFIT ANALYSIS Cost Volume‐Profit Analysis is the analysis of three variables viz. Cost, Volume and Profit, which explores the relationship existing amongst Costs, Revenue, Activity Levels and the resulting Profit. The Cost Volume Profit Analysis is also known as Break even Analysis. ACCORDING TO CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS, LONDON “COST VOLUME PROFIT…

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COST ACCOUNTING

APPLICATIONS OF MARGINAL COSTING

Posted on February 22, 2020 By commerceiets No Comments on APPLICATIONS OF MARGINAL COSTING

APPLICATIONS OF MARGINAL COSTING Marginal costing is a technique of ascertaining cost used in any method of costing. According to this technique, variable costs are charged to cost units and the fixed cost attributable to the relevant period is written off in full against the contribution for that period. Contribution is the difference between sales…

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COST ACCOUNTING

MARGINAL COSTING

Posted on February 22, 2020 By commerceiets No Comments on MARGINAL COSTING
MARGINAL COSTING

MARGINAL COSTING Marginal Costing is a technique of ascertaining cost used in any method of costing. According to this technique, variable costs are charged to cost units and the fixed cost attributable to the relevant period is written off in full against the contribution for that period. Contribution is the difference between sales value and…

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COST ACCOUNTING

EQUIVALENT PRODUCTION

Posted on February 21, 2020March 25, 2025 By commerceiets
EQUIVALENT PRODUCTION

EQUIVALENT PRODUCTION Equivalent Production represents the production of a process in terms of completed units. In other words it means converting the incomplete production units into its equivalent of complete units. In each process an estimate is made of the percentage completion of any work-in-progress. A production schedule and a cost schedule will then be…

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COST ACCOUNTING

BY PRODUCTS

Posted on February 21, 2020 By commerceiets No Comments on BY PRODUCTS
BY PRODUCTS

BY- PRODUCTS The by products is a secondary product, which incidentally results from the manufacture of a main product. By products are also produced from the same raw material and same process operations but they are secondary results of operation. The main difference between the joint product and byproduct is that there is no intention…

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COST ACCOUNTING

JOINT PRODUCTS

Posted on February 21, 2020 By commerceiets No Comments on JOINT PRODUCTS
JOINT PRODUCTS

JOINT PRODUCTS Joint products imply that they are produced from the same basic raw material, are comparatively of equal importance, are produced simultaneously by a common process and may require further processing after the point of separation. ACCORDING TO CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS, LONDON “Joint products is two or more products separated in the…

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COST ACCOUNTING

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