A cost which is not controllable by a junior manager might be controllable by a senior manager. For example, there may be high direct labour costs in a department caused by excessive overtime working. The junior manager may feel obliged to continue with the overtime to meet production schedule...
Cost of Goods Sold (COGS) is the direct cost of a product to a distributor, manufacturer, or retailer. Sales revenue minus cost of goods sold is a business’s gross profit. The cost of goods sold is considered an expense in accounting. COGS are listed on a financial report. There are ...
Explain. B) What is the opportunity cost of investing in human capital? Do you think a country can overinvest in human capital? Explain. What is the role of government, in dealing with benefit externalities? With cost externalities? What is a trade-off and ...
Capital refers to the financial asset and physical asset owned by a firm or an individual. It helps in generating development and profits for the firm. Capital gain increases the value of the stock, when it is sold and capital loss decreases the value of the stock when it i...
It's fascinating that this kind of 'luxury' only applies to the room you reside in or the entire cost of your stay. Food and beverages are not permitted to be brought under this category, nor are any additional service fees. So, just the accommodation is subject to tax. Prior to this...
Any form of consideration paid or payable to the factory workers/labours, employees, foreman, supervisor, production manager and so forth, who are directly engaged in the process of production is called as direct employee cost or direct labour cost. ...
1.Prime cost:This comprises direct material, direct wages, and direct expenses. It is also called basic cost, first cost, or flat cost. It can be defined as an aggregate of the price of the material consumed, the wages involved in production, and the direct expenses. ...
Labour Variance: Labor Variance = Actual Labor Cost – Budgeted Labor Cost Labor Variance =9,500 – 8,000 = 1,500 (unfavorable) The labor variance is unfavorable because they spent $1,500 more on labor than budgeted. Overhead Variance: ...
What is an inventory management system? How does an inventory management system work? Inventory management system examples Types of inventory management system Periodic vs perpetual inventory systems Inventory management system features How much does inventory management system cost? When to upgrade ...
What is the interdependence of micro and macro economics? Explain the externalities and government public policy. What is their effect on marginal revenue and marginal cost? Define marginal social costs and give an example. What is the interdependence of macro and micro economics?