Work performance information and cost forecasts are the main outputs of cost control.
<h3 /><h3>What is cost control?</h3>
It is the set of practices that assist in the control and organization of financial resources, in order to establish a budget that is a useful tool for greater understanding of income and expenses and greater coordination of the correct allocation of finances to fulfill your needs and for the achievement of objectives and goals.
In a company, cost control will help in effective positioning in the short and long term, helping to correctly understand the company's financial situation in a period, in addition to helping in the forecast of costs, expectations and planning as a whole.
Therefore, cost control is a set of tools that assists in the budget control of a company or an individual, being positive for the best organization of finances.
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Answer:
The difference in the direct materials cost per equivalent unit between the two months is $0.70.
Explanation:
First calculate the direct cost per equivalent unit in September
Direct cost per equivalent unit = Total Cost / Total Equivalent units
= $12,000 / 7,500
= $1.60
<u>Difference between the two months.</u>
September = $1.60
Less August = ($0.90)
Difference = $0.70
The two primary factors affecting an entrepreneur choice of legal ownership for a venture are TAXES AND LEGAL LIABILITY.
The type of business that an entrepreneur establish will determine the type and the amount of tax that it will be required to pay. The legal liability of the entrepreneur determines the extent to which he can be liable in case he finds himself in a financial mess. The entrepreneur should try and minimize the impacts of these two factors.
Answer:
The money you pay in taxes goes to many places. In addition to paying the salaries of government workers, your tax dollars also help to support common resources, such as police and firefighters. Tax money helps to ensure the roads you travel on are safe and well-maintained. Taxes fund public libraries and parks.
