Materials managers are constantly confronted with the following problems and requirement: Inventories account for a large portion of the working capital requirements of many businesses….
Process costing. A cost of production report is used to collect summarized and compute total and unit cost. Production is accumulated and reported by department….
In the planning phase cost accounting deals with the future. It helps management the budget the future of predetermined materials cost wages and salaries and…
A successful just-in-time system requires a change in manufacturing processes to accommodate this new inventory philosophy. What is involved is process management, not merely inventory…
Non manufacturing activities of manufacturing firms wholesale and retails business banks and other financial enterprises insurance companies transpiration companies railroad airlines shipping companies bus companies…
The cost department must not only record but also analyze all cost of manufacturing marketing administration for use by management in planning and control. It…
In addition to invoices and documents supporting transaction of materials purchased consumed or transferred between department the account requires reports of time studies record of…
Likewise the schedule producing and inspecting of jobs and products by manufacturing department are measured for efficiency in terms of the cost incurred. The personal…
The ever increasing use of standard cost provides a necessary measure of what cost should be. These standard cost permit an early preparation and presentation…
The internal reporting and assistance phase is by the nature the realm and prerogative of the company management team. Closely allied with the internal reports…