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Cost ascertainment as well as cost estimation both are inter-related and are immense use to the management. In case of concern has a sound costing system, the ascertained costs will greatly help the management in the process of estimation of rational accurate costs which are no necessary for a variety of purposes stated above. Moreover, the ascertained costs may be compared with the predetermined costs on a continuing basis and proper and timely steps be taken for controlling costs and maximizing profits.
What else can I help you with?
Is advertising a direct variable cost?
Advertising is not a variable cost as well as not a direct cost because it has no connection with manufacturing of units of products as well as it does not vary with volume of products.
How does manufacturing business add value to its products?
Manufacturing businesses add value to their products through processes such as design, production efficiency, and quality control. By transforming raw materials into finished goods, they enhance functionality and appeal, which increases customer satisfaction. Additionally, innovation in manufacturing techniques can lead to cost reductions and improved product features, further elevating value. Ultimately, these efforts create a competitive advantage and drive customer loyalty.
What are the characteristics of marketing's production era?
Companies believed that exchanges could be facilitated merely by lowering manufacturing costs, and in turn, passing along the cost savings to customers in the form of lower prices.
Where are nikes shoes produced?
Nike shoes are primarily produced in various countries across Asia, with significant manufacturing facilities in Vietnam, China, and Indonesia. The company outsources production to numerous factories operated by independent contractors, allowing for flexibility and cost efficiency. While Nike designs its products in the United States and other locations, the majority of the actual manufacturing takes place overseas.
What is the resale value of 22kt gold jewelry in Indian market?
the resale value is determined by the original price of gold in market - manufacturing cost - service tax at the time of purchase or you can take the purchase price of gold - 20% of that price.
Why cost estimation is important for project management?
Cost estimation is important because each project has the risk of added costs that weren't consider up front throwing the project into a state where you may not have the budget required to continue working on the project. The cost estimation should include the initial assessment plus % available for added costs.
What is the difference between estimation and costing?
1,estimation is finding the cost before it has been actually manufactured. and costing is finding cost after manufacturing the product including the defect product cost. 2,estimation need high technical skills and knowledge hence its done by engineering department but costing need high accounting skills hence its usually done by Accountants or account departments 3,estimation foresee the probable cost and hence it can be used to decide whether one need to produce a particular product or not. or if its profitable or not costing helps to understand to what extent the estimation holds good also when and where it fails
Are manufacturing cost an important criteria while converting input into output?
false
Difference between pre-feasibility and feasibility?
The most difference is on cost estimation. In PreFS, cost estimation is based on assumptions while cost estimation in FS is normally based on vendors' offers/proposals, at least for expensive price equipment/materials.
Is fire a selling cost manufacturing cost direct manufacturing cost indirect administraitve cost fixed cost or variable cost?
Is fire a selling cost, direct manufacturing cost, indirect manufacturing cost, administrative cost, foxed cost or variable cost.
Is Manufacturing cost is overhead or variable?
Manufacturing cost is variable cost.
What is a estimation?
an estimation is an educated guess as to the cost of a certain procedure or product.
What is a manufacturing cost variance?
manufacturing cost refers to varaiable costs
Is direct material a selling cost?
is direct cost a? Selling cost, manufacturing costs, direct, manufacturing cost indirect, general and administrative cost, fixed cost , variable cost, is direct cost a? Selling cost, manufacturing costs, direct, manufacturing cost indirect, general and administrative cost, fixed cost , variable cost,
Role of cost accountant in manufacturing organization?
cost accounting plays very important role in manufacturing organisation.unless cost accounting system one can't get the cost of the product appropriately.Many organisations fix their selling price based on the cost information.Not only in ascertaining cost of the product it can be used as measurement for their performance
What role of cost accounting in manufacturing organization?
cost accounting plays very important role in manufacturing organisation.unless cost accounting system one can't get the cost of the product appropriately.Many organisations fix their selling price based on the cost information.Not only in ascertaining cost of the product it can be used as measurement for their performance
Is manufacturing overhead same as manufacturing cost?
No. Cost would include the cost of materials. Overhead would not.
