Relevant Costing topic is linked with Decision Making. Some times relevant costing topics is tested separately, and sometimes relevant costing’s principal might be tested in a question of decision making.
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The topics of Basic Entries and General & Factory Ledger are inter-related. It is assumed that you have learned how to pass Basic Entries. If you haven’t then Click Here and Learn them This is an important but easy topic. This is easy because the only thing which you will have to take care about is the format of the P&L Account/ Income Statement, which is pretty consistent and is given below. What is the difference between Marginal and Absorption Costing? This is part 2 of the topic “General and Factory Ledger”. To see part1 click here. If you face difficulty in reading the following notes, click on it for larger picture. You can download this Tutorial by right clicking on the picture and save target as This is the second part of the topic. To see First part, click here.You can download this Tutorial by right clicking on the picture and save target as What is budgeting? What is Economic Order Quantity? 1) Ordering Cost : All cost which are incurred during the ordering of stock, like phone calls, transportation cost etc 2) Holding Cost : Storage costs, like rent of the building etc. What is the Difference in Defective Goods and Spoiled Goods? There is a fundamental difference between the two. A defective good is a good in which there is a manufacturing fault or defect, but this fault can be removed by applying additional cost called rectification cost. Whereas in case of Spoiled goods, the goods have been spoiled [...] |
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