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What are the main purpose of cost of production report?
Main purpose of cost of production report is to find out the cost of units produced in a batch processing unit where production goes on without any interruption and where it is hard to find out the cost of units produced.
What purpose are served by a production cost report?
By Production Cost Report, the Company can find out ways and means to reduce expenditure those will not ultimate compromise with the quality of the product.
Production cost formula?
cost of production formula
Different types of costs of production?
production cost, selling cost and sundry cost
What is meant by cost of production?
cost of production is the amout of money spend on the production of a perticular comodites.
How do you find the cost of direct labor?
cost of direct labor is the total cost of workers involve in production divided by normal capacity is per unit direct labor cost.
What is one country of comparative advantage in the production of a certain good?
It has a lower opportunity cost for production of that good.
How can one derive a cost function from a production function?
To derive a cost function from a production function, you can use the concept of input prices and the production technology. By determining the optimal combination of inputs that minimizes cost for a given level of output, you can derive the cost function. This involves analyzing the relationship between input quantities, input prices, and output levels to find the most cost-effective way to produce goods or services.
Is the production manager's salary is an example of variable cost?
Because the production manager's salary remains the same, regardless of the production level, this salary is a fixed cost, not a variable cost.
Is sales promotion cost a variable cost?
If it varies with the level of production then it is variable cost otherwise it is fixed cost.
Suggestion on cost saving or production improvement initiatives?
suggestion on cost saving or production improvement initiatives
What is the cost of poor production?
Less profit No Cost
