How is the profit of an incomplete contract determined?
At the end of an accounting period, it may be found that certain contracts have been completed while others are still in process and will…
Accounting
Job Costing
Job costing is one of the methods of costing. It is also known as job order costing. In this system, work is undertaken to customer’s…
Overhead
Overhead Overhead is those costs required to run a business, but which cannot be straight attributed to any particular business activity, product, or service. A…
Factors that determining the Efficiency of Labor
The efficiency of labor means the useful capacity of a worker. The working capacity of the labor is called his efficiency being given the saint…
Factors that seriously considered in selecting method of remuneration
Factors that seriously considered in selecting method of remuneration Remuneration has been defined as the reward for labor and services rendered. All business organizations should…
Basic Principles of Labor Remuneration
Basic Principles of Labor Remuneration Remuneration has been defined as the reward for labor and services rendered. All business organizations should have a proper method…
Distinguish between Normal and Abnormal Idle Time
Distinguish between Normal and Abnormal Idle Time Idle time indicates that time for which wages are paid to the workers but no production obtained during…
Idle Time and its causes
Idle time indicates that time for which wages are paid to the workers but no production obtained during that time. It happens when employees or…
Different methods of Remuneration of Labor
Different methods of Remuneration of Labor Remuneration has been defined as the reward for labor and services rendered. All business organizations should have a proper…
Pre-determined Overhead Rate
Pre-determined Overhead Rate A predetermined rate is a probable amount of overhead costs that managerial accountants calculate an activity base will use. Predetermined overhead rate…
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