Meaning of By-Products In a manufacturing process, a main product is accompanied by production of one or more by-products. In other words by-product is a residual material, which
Methods of apportionment of joint costs to joint products The following are the methods of apportionment of joint costs. 1. Physical Units Method of apportionment This method is
Procedure for payment of wages Pay slip is prepared on the basis of the payroll or wages sheet. Pay slip is prepared for each worker separately. Now, each
Problems of Target Costing One should be aware of the problems of target costing. If so, the target costing can be properly followed. Some of the target costing
Traditional Costing Method vs Target Costing Method Traditional Costing Method Under traditional method of costing the manufacturers use the cost details in such a way that cost plus
Overall Profitability Ratios Profit is used as a yardstick to measure the profitability of any business concern. Generally, an analyst calculates overall profitability ratios before giving any recommendation
Characteristics or Features of Sound wage system A sound wage system has the following characteristics. 1. Fairness in paying wage Reasonable wages should be paid to the workers.
What is Total Labour Efficiency Variance? Total labour efficiency variance is a part of labour cost variance. It is otherwise called as Labour time Variance. Definition of Total
Market test or Valuation Ratios The followings are the market test or valuation ratios. Dividend Yield Ratio. Dividend Payout Ratio or Payout Ratio. Price Earning Ratio or P/E