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material costing is defined as the cost of product which only include the cost of materials and excludes all the indirect cost such as wages, overheads etc.
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What is the definition of Historical Cost?
what is the definition of historical cost
What is Definition of material budget?
Define material budgets
Is Direct Material a product cost?
Yes direct material is a product cost as without material no product can be manufactured.
Is Direct Material a product cost or period cost?
Direct material is a product cost because without material no product can be produce and it has direct relation with production of goods.
What is definition of cost of goods manufactured?
The cost of goods manufactured is an element in preparing the income statement. It consists of the cost of producing goods: http://www.answers.com/topic/direct-material, http://www.answers.com/topic/direct-labor and http://www.answers.com/topic/factory-overhead
What is definition of prime cost?
The prime cost of a product is the direct cost which includes the materials and labor needed. This does not include the fixed costs attached to the material.
What is the definition of material world?
The definition of a material world is a fake world.
What is the definition of Historical Cost?
what is the definition of historical cost
What is the definition of an organic material?
Carbon-containing material
What is Definition of material budget?
Define material budgets
What is the definition of monetary cost?
the property of having material worth (often indicated by the amount of money something would bring if sold) ruchi
What is the definition of organic material?
a material that occurs naturally in nature
What is the definition of inorganic material?
It means material which was not a part of a living organism.
Why does the harder material scratch the softer material in mohrs?
The Mohs scale definition of hardness is that a harder material has the ability to scratch a softer material. So (according to the Mohs definition) one material can scratch another one because it is harder.
How does Decrease in material costs impact total variable costs?
If material cost is variable cost then yes by decreasing material cost company can reduce total variable cost.
Is Direct Material a product cost?
Yes direct material is a product cost as without material no product can be manufactured.
Basic definition of sales?
Definition of Sale: When there is movement of material from one place to another place and by this movement transfer of ownership is changed (compulsory condition) is termed as Sales.Now There are many laws depends upon material, place etc but all fulfill basic above condition.Movement of Material from One store to another Store (No tax is charged because ownership does not change to certify this movement we produce Form F)Sale of house cannot be deemed as sales because there are no movement of material hence builders never charged sales tax.Service: There is no movement of material but still there is transfer of ownership is termed as service. ( Charged cost is time cost, technology cost etc)
