Abida Archive
Direct Materials Price and Quantity Standards: Learning Objective of the articles: Define and explain direct materials price standards and direct materials quantity standards. Explain how direct materials price and quantity standards are set? Contents: Direct Materials Price Standards Direct Materials Quantity Standards Example of
Direct Materials Quantity Variance: Learning Objective of the articles: Define and explain “direct materials quantity variance” and its significance. How is it calculated? How direct materials quantity variance is interpreted? What are the reasons / causes of a favorable and unfavorable direct materials quantity
Direct Materials Price Variance: Learning Objective of the articles: Define and explain “direct materials price variance” and its significance. How is it calculated? How direct materials price variance is interpreted? What are the reasons / causes of unfavorable or favorable materials price variance? Contents:
Direct Materials Budget Definition: A detailed plan showing the amount of raw materials that must be purchased during a period to meet both production and inventory needs. Click here to read full article about direct materials budget.
Direct Materials Definition: Those materials that become an integral part of a finished product and can be conveniently traced into it.
Direct Labor Standards: Learning Objective of the articles: Define and explain “direct labor standards” . How direct labor rate and direct labor efficiency standards are set? Direct labor price and quantity standards are usually expressed in terms of a labor rate and labor hours.
Direct Labor Rate | Price Variance: Learning Objective of the articles: Define and explain “direct labor rate | price variance /labour rate variance” . How direct labor rate or price variance rate is calculated? What are the reasons / causes of favorable and unfavorable
Direct Labor Efficiency Variance Learning Objective of the article: Define and explain “direct labor efficiency | usage variance” . How direct labor efficiency (labour analysis) or usage variance is calculated? What are the reasons / causes of unfavorable or favorable labor efficiency variance? Contents:
Direct Labor Definition: Direct labor costs are those factory labor costs that can be easily traced to individual units of product. Also called touch labor.
Direct Labor Definition: Direct labor costs are those factory labor costs that can be easily traced to individual units of product. Also called touch labor.
Direct Labor Budget Definition: A detailed plan showing labor requirements over some specific time period. Click here to read full article about direct labor budget.
Direct Exchange Transaction Definition: Transactions involving only non-current balance sheet accounts. For example, a company might issue common stock that is directly exchanged for property.
Cost Classifications for Assigning Costs to Cost Objects (Direct and Indirect Cost): Learning Objective of this article: Define and explain direct and indirect cost. Give examples of direct and indirect costs. What is the difference between direct and indirect cost. Definition of Cost Object?
Direct Costing Definition: A costing method that includes only variable manufacturing costs–direct materials, direct labor, and variable manufacturing overhead–in unit product cost. Direct costing is also called marginal costing and variable costing.
Direct Cost Definition: Direct cost is the cost that can be easily and conveniently traced to the particular cost object under consideration.
Diminishing Balance Method of Depreciation: Learning Objectives: Define, explain and give example of the diminishing balance method/written down value method/reducing installment method? What are advantages and disadvantages of diminishing balance method? Definition and Explanation: Diminishing balance method is also known as written down value
Difficulties Encountered in Process Costing Procedures: Learning objectives of this article: What are the difficulties or Limitations in a process costing procedure? Certain difficulties likely to be encountered in actual practice should be mentioned with regard to process cost accounting procedures: The determination of
Difficulties / Problems in Costing by Products and Joint Products: By products and joint products are difficult to cost because a true joint cost is indivisible. For example, an ore might contain both lead and Zink. In the raw state, these minerals are joint