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represents the value of the consumption of living and materialized labor performed in order to obtain a product at a time, consumption that takes the form of production a ... See More
Cost of Production Means Cost of Producing any Item or Unit. The Cost of Production have Three Elements of namely:01) Raw Material Consumed,02) Direct Labor and03) Fact ... See More
The costs related to making or acquiring goods and services that directly generates revenue for a firm. It comprises of direct costs and indirect costs. Direct costs are ... See More
A budget is a quantitative plan prepared for a specific time period. It is normally expressed in financial terms and prepared for one year. Budgets contribute to performa ... See More
This is the type of budgeting that will have all the persons involved or who hold the budgets to be involved in the budget making process. Most probably it will have empl ... See More
It is kind of budgeting used by the management when they need all the employees or all other division to be involve in the budgeting development or budgeting presses, als ... See More
There are two components of cost of production, 1. Fixed cost - Includes Salary & wages, Insurance, Contract Services, Warehousing, Administrative expenses. 2. Variab ... See More