It should be fixed for each grade of labour and for each operation involved. The standard hours are fixed for all categories of labour i.e., for skilled and unskilled labour. In these standards, number of hours and workers are established. Standard costing system requires proper delegation of authority and responsibility at different levels. This is […]

Content Shutdown showdown in US Congress: Time running short to fund government Double-Entry Accounting What you’ll learn: How to select a general ledger package Get clear on trust account rules QuickBooks Online: For streamlined legal accounting Best Business Software However, when a firm fails to separate revenue that covers incurred costs from its actual revenue, […]