Accounting

Causes of Under and Over Absorption of Overhead Under absorbed factory overheads: this situation arises if the overheads absorbed are less than the actual overheads.…

As a business manager, staff turnover is one area to keep an eye on throughout the year. High labor turnover can be recognized to a…

The costs of service departments are allocated to the operating departments because they exist to support the operating departments. The sequence of allocation usually starts…

Importance of Economic Order Quantity Economic order quantity (EOQ) is the order quantity.bf inventory that minimizes the total cost of inventory management. It is a…

Differences between Bin Card and Store Ledger Bin Card implies a document which records the quantity of material received by, issued to and remained in…

Economic order quantity (EOQ) is the order quantity.bf inventory that minimizes the total cost of inventory management. It is a measurement used in the field…

ABC Analysis In materials management, the ABC analysis (or Selective Inventory Control) is an inventory categorization technique. ABC analysis divides an inventory into three categories…

Classify Cost from the viewpoint of Decision Making Cost can be defined as the monetary value of the utility (or benefit) which is yet to…

Here describe outline the procedure to be followed in a modern factory for the purchase of raw materials till the payment of the bill therefor.…

Importance of Material Control System Material control is the main component of the process of material management. Control over materials is of utmost importance for…