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XplainD.com | Definitions | Explanations | Examples

XplainD defines and explains hundreds of terms of different fields of knowledge with the help of concise real life examples.

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xp●●●●●●●●●@identity-protect.org

View this contact

Identity Protect Limited

Identity Protection Service

PO ●●●795

God●●●ing , Surrey, GU7 9GA

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XplainD.com | Definitions | Explanations | Examples | xplaind.com Reviews

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XplainD defines and explains hundreds of terms of different fields of knowledge with the help of concise real life examples.

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1

Joint Products | Definition | Examples

http://xplaind.com/971027/joint-products

Few examples of joint products are:. Processing of crude oil to obtain gasoline, diesel, asphalt, jet fuel and lubricants. Production of butter, cheese and cream from milk. Different grades of wood obtained from a same kind of tree. The point at which a joint process yields separately identifiable joint products is called split-off point. Cost are allocated to joint products at split-off point using one of several methods including:. All of the above products are obtained from a joint process.

2

Flexible Budget | Variance | Example

http://xplaind.com/867798/flexible-budget

Flexible budget is budget typically in the form of an income statement that is adjustable to any level of activity such as units produced or units sold. In a simple flexible budget, fixed costs stay constant whereas variable and semi-variable costs change according to a standard predetermined at the beginning of an accounting period. Variable costs may be represented as percentages of some base figure such as number of units or revenue. The management is pleased with the income higher than budgeted. ...

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Conversion Costs | Formula | Example

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Include all direct or indirect production costs incurred on activities that convert raw material to finished goods. There are two main components of conversion costs, direct labor cost and manufacturing overhead costs. Examples costs that may be qualify as conversion costs are wages, rent, depreciation on plant and machinery, factory insurance, factory utilities, supervision, factory repairs etc. Conversion Costs = Direct Labor Manufacturing Overheads. Direct Labor = 38,000. 5,000 1,000 6,500 2,000.

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Management Terms

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Natural Monopoly | Definition | Examples | Economics

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In naturally monopolistic markets, competition is uneconomical because multiple producers are unable to completely utilize economies of scale and this results in unit costs above the lowest possible values and thus higher prices. In other words, a natural monopoly uses the economy's limited resources more productively than multiple competing firms. By this logic, it is preferable for a government to allow monopolization of the market. Public regulation may involve government control of the price at which...

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Accruals are revenues and expenses that are recognized (usually referred to as accrued ) prior to the due date for their receipt or payment as the case may be. This practice of accruing revenues and expenses before their due dates is based on the accrual principle of accounting. Relevant Cost of Material. Accounting errors are unintentional mistakes in book-keeping of transactions. Accounting errors are different from accounting fraud because in fraud an intentional mistake is made to . In economics, the...

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