There are two measures of production costs: total costs and marginal costs. The relevant ratio depends on which of these is being minimised.
Conversion cost is total of: Options Direct material and direct wages Direct material, direct wages, and production overheads Direct wages and production overheads. None of the above
Breakeven Analysis is the process of categorizing costs of production between variable and fixed components and deriving the level of output at which the sum of these costs, referred to as total costs per unit become equal to sales revenue. The analysis helps to determine the 'Breakenev Point' from this point of equality of sales revenue with total costs. At the breakeven point, the production activity neither generates a profit nor a loss. Breakeven analysis is used in production management and Management Accounting.
please advise the average percentage of manufacturing costs
Factory manager is not directly related to the production of units of product so it is not direct labor cost but it is included in overhead costs.
DIFFERENCE BETWEEN JOINT COSTS AND COMMON COSTSJoint costs are costs incurred in a production process, involving more than one product, up to the point when the products can be separated or distinguished as separate products. Common costs are costs incurred, the benefit of which is enjoyed by more than one cost centre (i.e. unit ) within an organisation. Answers by VICTOR DURODOLA , Nigeria
efficiency ratio
These allow organizations to track the costs associated with production of goods and performance of services.
Production costs are costs to produce
Maximizing benefits and minimizing costs
Maximizing benefits and minimizing costs
Maximizing benefits and minimizing costs
Variable costs vary depending on a company's production. Production, or output, and costs are included in variable costs. Production and costs are directly related.
Lay offs / downsizing of staff personal budgeting
Maximizing benefits and minimizing costs.
it is important to calculate costs and measure media effectiveness to best reach audience.
what is an example of lower production costs brought about by technology
By taking a JIT approach to inventory and product handling, companies can often cut costs significantly. Inventory costs contribute heavily to the company expenses, especially in manufacturing organizations. By minimizing the amount of inventory you hold, you save space, free up cash resources, and reduce the waste that comes from obsolescence.