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Which budget is prepared without monetary amounts?
A budget prepared without monetary amounts is known as a "zero-based budget." This type of budget focuses on justifying each expense, starting from a "zero base," rather than adjusting previous budgets. It emphasizes the prioritization of activities and resource allocation based on needs and benefits rather than historical expenditures. This approach allows for a more strategic allocation of resources based on current objectives rather than past spending patterns.
Incremental Allocation method?
The Incremental Allocation method is a budgeting approach that allocates resources based on the previous period's budget, making adjustments for expected changes in costs or revenues. It focuses on incremental changes rather than starting from a zero base, which can simplify the budgeting process. This method is often used in organizations with stable operations, as it allows for easier planning and forecasting. However, it may overlook inefficiencies in the existing budget and lead to perpetuating outdated practices.
What did the southern coloines base their economy on?
They based their economy on RICE.
How is the base year of an index selected?
The base year of an index is selected based on a period that provides a stable and representative benchmark for comparison. It typically reflects a time of economic stability or a significant turning point in economic conditions. The choice also considers data availability and relevance to current economic conditions, ensuring that the index accurately reflects changes over time. Ultimately, the base year serves as a reference point for measuring growth or decline in the index.
What is zero based budgeting?
Zero-based budgeting is a method of budgeting where all the expenses have to be justified for each new period. This method starts with a zero base and all the functions in a company are analyzed for costs and needs.
What criteria are important in determining the choice of an allocation base?
When choosing an allocation base, it is important to consider factors such as the base's ability to accurately reflect the relationship between the cost being allocated and the allocation base, ease of understanding and application, availability of data for the allocation base, and the appropriateness of the base for the specific cost being allocated. Ultimately, the allocation base should result in a fair and reasonable distribution of costs among the cost objects.
What is departmentalisation of overhead?
Departmentalisation of overhead means allocation of overhead cost base on predertmined rate in case of absorption method and based in activities in case of activity based costing.
Is cost allocation base a cost driver?
Yes, it is. When used for allocating costs, a cost driver is often called a cost-allocation base
Is the selection of an appropriate cost allocation base more important for a single-stage cost allocation system than it is for a two-stage cost allocation system?
no
What allocation base might result in a cause and effect relationship?
Allocation base is critical in any relationship. For example in a country, if the resources are not allocated equally, it can affect the relationship between the regions or states making the country.
What is an infielders choice?
An Infielder's Choice is a fielding choice in which an infielder chooses to get an out at home plate, 3rd base or 2nd base rather than 1st base.
What is overhead allocation based on volume alone?
Overhead allocation based on volume alone is a method of distributing indirect costs, such as administrative expenses and utilities, to products or services based solely on their production volume or quantity. This approach assumes that all products consume overhead resources in proportion to the number of units produced, often using a single allocation base like direct labor hours or machine hours. While this method is straightforward, it can lead to inaccuracies if products require varying amounts of overhead resources, potentially distorting cost information and decision-making.
How do you determine multiple production department factory overhead rates?
To determine multiple production department factory overhead rates, first, identify the total overhead costs for each department and the appropriate allocation base, such as machine hours or labor hours. Next, gather data on the actual usage of the chosen allocation base for each department. Finally, divide the total department overhead costs by the total units of the allocation base to calculate the overhead rate for each department. This approach ensures that costs are accurately assigned based on the specific activities and resources utilized in each department.
Does the choice of the base change the area of the parallelogram?
The choice of the base of a parallelogram does change the area because the base is always the bottom line of parallelogram.
What should you base a company on?
What should you base a company on?....base...I think you anwered your own question. I company should be based on a product that has a high level of profitability. Something that if is used once by the consumer, they will have a strong urge to use again, something where our input goods are easily and cheaply attainable. base. Freebase Cocain is the answer. Base a company on base.
Why education should be skilled based rather than knowledge based?
Education should be skilled base as by this a child gets a chance to show its interests and abilities and can do better in exams.
Which budget is prepared without monetary amounts?
A budget prepared without monetary amounts is known as a "zero-based budget." This type of budget focuses on justifying each expense, starting from a "zero base," rather than adjusting previous budgets. It emphasizes the prioritization of activities and resource allocation based on needs and benefits rather than historical expenditures. This approach allows for a more strategic allocation of resources based on current objectives rather than past spending patterns.
