-
Machine Hour Rate
How machine hour rate is calculated?
-
I transfer 20 Kg of Raw Material to WIP, but there will be weight loss incurred during the production periods.Is this double entry correct?Dr : WIP (18 Kg)--------------------S$20Cr : Raw Material (20Kg)-----------S$20If yes what will the double entry to capture the 2Kg weight loss?Thanks,Denny
carajeshsingh
- Jun 13th, 2008
no.journal entry shall be passed to capture 2 k.g. weigt loss. finished product shaal automatically cover cost of 2 k.g. loss of material is normal wastage.
-
Gross and Net
The term Gross and Net are often heard in business.please give examples where these terms are used ?
keshav_ramanuja
- Mar 2nd, 2009
Gross amount is before deducting taxes and duties net amount is after deducting taxes and duties...In terms of expenses, net profit = gross profit -(minus) indirect expenses.
-
Cash Flow Funds Flow
What is the difference between cash flow statement and funds flow statement
keshav_ramanuja
- Mar 2nd, 2009
Funds flow statement includes the transactions which are made on credit basis whereas Cash flow statement includes transactions recorded on current date basis.
-
What are the freight charges ?
c7831887
- May 21st, 2009
There are two types of freight charges one is Inward and the other one is Outward.Inward is grouped under Direct expenses and it may be taken into landed cost.? Outward is grouped under Indirect expense and it will be?incurred after production.
jajpur78
- Sep 2nd, 2008
Its a direct expense and it is basically the expenditure that is spent in production for transportation.
-
VAT Calculation
how calculate vat? computation of vat? procedure of vat in return filling? tentative date of vat return filling? also TDS. which form required?
c7831887
- May 21st, 2009
How to caluclate VAT?Basic price of selling product (Landed cost of purchased goods + Manufacturing cost & other costs + Margin = Basic price)Add: Excise duty (if applicable & rate of duty wil...
-
Break Even Analysis
How to calculate Break Even Analysis (BEP)?
bibhutigiri
- Jul 3rd, 2009
Contribution=Sale Price-Variable Cost Break Even Quantity= Fixed Cost/Contribution
-
What is the purpose of chargeback?
krishnahr13
- Jun 21st, 2010
Purpose of charging back is to assertain the accoutal cost / profit of the perticular unit (when one internal business unit is serving to other BUs like IS service or Consulting service etc.,) expenses incurred on shared basis to be charges back to other BUs..
-
ERS
What is meant by ERS. Explain in detail about ERS.
-
Project Costing
What is the meaning of project costing? What are the elements of a standard project cost sheet.
kl_krupa
- Oct 3rd, 2010
Project costing is the identification and reporting of all costs generated by a single project. Elements of a standard project cost sheet would include all production orders, purchase orders and inventoried items are separated and pegged to the project in order to provide a total project cost
-
EOQ
What is meant by EOQ?
Lakshmikanth Dandu
- Jan 27th, 2011
Economic order quantity refers to the quantity to purchased every time so as to minimize total of two types of costs associated with purchase. The size of the order for which the total of ordering costs per annum and carrying cost per annum are minimum is know as the eoq.
kl_krupa
- Oct 3rd, 2010
Economic order quantity is the level of inventory that optimises the total inventory holding costs and ordering costs.
-
Explain about variable cost along with few situations where you would use variable cost .
vasudeo007
- Aug 18th, 2008
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. Li...
ramm.30
- Jun 12th, 2008
Variable cost varies with level of out put but the per unit cost of variable items is fixed.eg: production of "x" no. of units where the cost varies with no. of units produced.
-
-
What do you mean by LC ?
LC - Letter Of Credit means a guarrantee given by the bank during the course of International Business
-
Control Accounting
What is Control Accounting? What is the use of it?
Lokesh M
- Feb 7th, 2012
A control account represents a summary of general ledger. It helps us to keep the general ledger free of innumerable transaction details. However the details of all transactions will still be maintai...
-
Cost Control
What is cost control? what are the duties of a cost controller?
Lokesh M
- Feb 7th, 2012
Cost control is a process that is followed in order to reduce the overall cost of production / service which results in not only saving more but also ensures competitive strategy. Cost controls ensur...
-
Cost Reporting
Explain the process of cost reporting
Lokesh M
- Feb 7th, 2012
Cost report displays cost analysis results with details regarding average cost against revenue allocated for product / service, along with weighted average costs.
-
Difference between contract and employee
Based on Internal Revenue Service rules, what criteria distinguish a consultant from an employee?
-
Three Way Matching Concept
What is meant by Three Way Matching Concept. Which is related to Invoice, Purchase order, Voucher, Vendor
gns.ravi
- Apr 10th, 2012
3 Way matching means : - Matching the invoice with PO and GR at the same time,
2 Way matching means :- Matching the invoice with PO.
the above two are the matching concepts in AP processFaisal Azim
- Jul 13th, 2011
Three Way Matching Means invoices ,Delivery and purchase all are same no any difference
-
Cost Accounting Interview Questions
Ans