Marginal cost is the change in the total cost when the quantity produced is incremented…

Cash budget comes under the category of financial budget. It is prepared to calculate budgeted…

Flexible budget provides logical comparison. The actual cost at the actual activity is compared with…

PointsFlexible BudgetFixed BudgetFlexibilityDue to its nature of flexibility, it may be quickly re-organized according to…

Budgets can be categorized in various ways. Let us go through the types of budgets…

Let us go through the terms sequentially. Budget Budget represents the objectives of any organization…

We are all well-familiar with the term budget. Budgeting is a powerful tool that helps the…

The following tools and techniques are used to reduce costs: ●      Budgetary Control ●      Standard Costing ●      Simplification…

Cost reduction program should be run by purchasing economical and more useful material. Economic Order…

Cost reduction programs can be run using staff welfare measures and improving labor relation. Introduction…