Advanced Management Accounting Report: ABC Ltd Business Expansion

This report delves into the realm of advanced management accounting, focusing on the application of these principles within ABC Ltd, a company planning global expansion. The report begins by exploring the purpose and presentation of financial information for various stakeholders, emphasizing the significance of clear and transparent reporting. It then moves on to analyze the application of different accounting microeconomic techniques, such as cost analysis, cost-volume-profit analysis, and variance analysis, assessing their value and importance in decision-making. The concept of variance analysis is discussed in detail, including actual and standard costs, along with the advantages and disadvantages of different variance types. Finally, the report considers the impact of external and internal factors on the business environment, evaluating the impact of changes on ABC Ltd. The report uses examples and analysis to explain the practical implications of these accounting methods.

Advanced Management
Accounting

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Purpose and presentation of financial information for various stakeholder. ...................1
M1. Need of presenting financial information.......................................................................3
D1. Evaluation of financial information.................................................................................3
TASK 2............................................................................................................................................4
P2. Use of different accounting microeconomic techniques..................................................4
M2. Value and importance of a wide range of accounting techniques.................................6
D2. Evaluate the application of different accounting techniques...........................................6
TASK 3............................................................................................................................................7
P3. Concept of variance analysis in its importance................................................................7
P4. Actual and standard costs to control and correct variances.............................................8
M3. Advantages and disadvantages of different types of variances....................................10
TASK 4..........................................................................................................................................10
P5. External and internal factors changing the business......................................................10
M4. Impact of different types of change..............................................................................12
D3. Critically evaluate the impact of changes.....................................................................13
CONCLUSION..............................................................................................................................13
REFERENCES .............................................................................................................................14

INTRODUCTION
In today's era every organization wants to decrease costs while preserving product quality
in the current competitive situation, but for organisation it is very hard in the practical term to
attain the desired results (Andriof and Waddock, 2017). Advance management accounting is
indeed a fundamental reporting specialist element that fits with the company's management
structure so that formulating of valuable strategic and policies can be prepared as it’s easy to
make any future decision. It helps company to make effective procedures and potential decision-
making requirements by accounting of information more vibrantly as well as sincerely. In order
to better understand the concept of advance management accounting ABC Ltd has been selected
that is planning to expand its business in different part of world thus its manager requires deep
knowledge about management accounting systems, processes, principles, fundamental tools and
techniques.
In this report, purpose and presentation of financial information, use of different
accounting techniques, concept of variance analysis and its importance to control budget, actual
and standard costs to control and correct variances are discussed. In addition, external and
internal factors changing the business environment impact are being defined in this project
report.
TASK 1
P1. Purpose and presentation of financial information for various stakeholder.
Financial information are the company's financial statements such as profit and loss,
balance sheets and cash flow that aid management and shareholder to make different decisions
according to their requirement (Bhimani, 2019). This information is extremely seen as a
constitutional necessity by the legislative body of the corresponding company that need to
comply with reporting norms. There are number of stakeholder that have interest within the
business of ABC Ltd, some of these are defined below:
Internal stakeholder: The stakeholder those are part of internal management of ABC
Ltd and are the one to whom information is directly delivered. They have the right to get the
detail information so that fair and transparent statements which support in creating policies and
strategies to conduct the business and making sure that any uncertain activity must not be
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included that may lead to wrong interpretation of crucial statements. Some of these are discussed
below:
Employees: They seem to be the most significant business component, because they are
the elements that assist a business to grow significantly. The aim of financial information for
employees is to guarantee that the entities have a good continued financial health because
company's health is linked directly to its employee and mutual compensation, bonuses, job
security, development and learning interests. For example, income statements give detail
information about salary deduction, fringe and other additional benefits so that they can ensure
about their future growth in respective firm.
Manager: These are the people who are able to manage and control all tasks and
operation of a company. For them, financial data is really essential and they can schedule to
improve the company's financial output. Each and every document is important for manager as
they require detail information for making policies and strategies that will be beneficial for ABC
to expand their business and attain competitive advantage (Burns and Vaivio, 2011). They make
use of financial information in order to determine any weak areas of operation in ABC Ltd and
accomplish managerial task effectively.
External stakeholder: All outside individuals investing their cash, providing credit and
buying goods or services are regarded as external stakeholders. They are indirectly related with
the different internal decision of company. Financial information like paid-up capital, and
proposed capital, interest on debenture and return on investment are several important data
submitted throughout balance sheet to external stakeholders.
Investors: The investor requires financial data of the enterprise because it provides
money to the enterprise for the development of its activities and wants to earn a return, that can
be obtained when company is performing well in capital markets. With the support of financial
information, they ensure to have best earning on equity, bonus share, interest on debt capital.
Their aim in searching for economic information so that they can evaluate the company
investment opportunity. The financial report presents earnings per share, rate of growth and
patterns to expound quality data for lenders.
Creditors: Banks, financial organizations, investors and loan services from corporate that
provide loans and financing progress are some important creditors. The aim of creditors from
financial data is to determine that company performs well, ensuring both repayment ability and
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interest amount. Some of the crucial document that are presented to reliable creditors within
annual report of respective company can be credit policy, credit note and possible modification
in charges and rates.
Customer: All the individuals purchasing the organization's goods are regarded as clients
(Carraher and Van Auken, 2013). For them, financial statements are very essential as they can
analyse that either they are purchasing or not profitable business products with the assistance of
such information.
M1. Need of presenting financial information.
In companies, managers are needed to make meaningful decision on the basis of current trends
and last year data, thus they needed to record each and every business transaction within correct
financial statement. These statements give a good positive information collection that enables
analyse the company's profitability and liquidity situation and gain knowledge into how the
money invested has done over a number of years. There are basically three types of statements
that are prepared and presented for a specific purpose such as balance sheet, income statements
and cash flow. Some basic purpose is discussed below:
Act as a source of decision making: Financial statement reveals the liabilities, asset,
revenue and business loss information. It enables users of economic data such as creditors to
obtain data from financial statements and use it to create effective decisions that support them in
making future decision.
Assist potential investors: Usually, financial statements are developed according to
International Financial Reporting Standard thus it holds descriptive and authentic information.
Investors take use of the data obtained from specified business and afterwards decide whether to
invest or withdraw their equity portion from the particular business.
D1. Evaluation of financial information.
Financial information circulated through financial statements gives a brief overview of a
company's fiscal health. It helps administrators as a supporting component which help in the
development of financial planning and plan for the criterion of long term investment decision
making. These statements offer a broad variety of leadership opportunities to determine the
reasoning behind the imbalance and gaps in information that assist in the implementation of
strategies.
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TASK 2
P2. Use of different accounting microeconomic techniques.
Microeconomics is an individual factor analysis that includes quantitative approach
which aid to determine the behaviour of people and their role on different macro economic
elements (Chenhall and Moers, 2015). Microeconomic methods perform a vital part in evaluating
the company's profit margin metrics in contemporary management accounting theory. Most
microeconomic instruments are addressed below:
Cost analysis: The connection among input costs and yield proportion is studied as cost
analysis. Cost managers of ABC Ltd are studying the interdependence between the input factor
expenses involved in the manufacturing and the comparative performance resulting from such
assessment.
Cost-volume profit analysis: This methodology helps to determines the effect of
operating profit due to differences in cost-to-volume profit. This is often considered as a break-
even analysis that is used by ABC Ltd management so that income is equal to expenses and sales
would be equal to cost during a specific year. This analysis is related with sales price, fixed and
variable costs per unit are expected to be permanent and multiple comparisons are created using
graph for price, cost as well as other factors. This evaluation assists manager in finding the
highest annual sales volume to minimize losses and the volume of sales at which predefined
goals are accomplished. This also support in finding the most favourable and dependable
combination of cost and volume. Mangers in an organization utilizes CVP assessment to predict
and verify the impacts of its choices on fixed costs, marginal costs, quantity of revenues and
value revenues for its profit schemes (Chenhall, 2012).
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Cost variances: It is the analysis of variations between the manufacturing budgeted price
plan and real expenses. This can be conducted for different production factors that assist the
ABC Ltd. Management to research the connection between budgeted and real price
concentrations. Cost variances are component of a reporting scheme for leadership that
demonstrates information to be beneficial or negative. Cost variances are shown to be beneficial
or unfavourable. The following are some significant price differences used in reporting by
manager are defined underneath:
 Fixed overhead variance
 Direct material price variance
 Variable overhead variance
 Purchase price variance Labour rate variance
Absorption & marginal costing: All manufacturing-related expenses are included in
Absorption costing (CLOR‐PROELL and Maines, 2014). In simple words regarding their real
use, all manufacturing expenses that may be fixed or flexible expenses are regarded as expenses
under the method of absorption costing. Marginal cost is defined as the extra costs sustained in
the manufacturing process shall be fined against the price units, while the fixed costs accrued
during the corresponding period shall be refunded in full. It is also regarded as an incremental
cost. These methods assist ABC Ltd. manager in determining cost allocation for product and
make sure that cost must be reduced which support to increase the profitability of firm. Under
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this method, the comparison of expenses becomes very important since fixed costs were not
taken forward for consecutive years as a compulsory norm.
M2. Value and importance of a wide range of accounting techniques.
All microeconomic techniques are important to a major within ABC Ltd as it support in
determining the different crucial aspect of business and it includes each and every segment of
these activities. Advantage and disadvantage are discussed below:
Marginal costing:
Advantages
 This valuation technique is really simple for ABC Ltd managers to understand and use as
it removes the component of fixed expenses and their distribution. This costing method is helpful in assessing and appreciating the impact of additional
sales or manufacturers process that support to make decision regarding more production
resulting into more return to company.
Disadvantages
 Developing this technique sometimes becomes irrelevant since fixed costs are the
component of goods and manufacturing anyway, thus their removal does not describe the
degree of variation.
 This method sometime becomes complex in the term of separation of fixed and variable
cost due to which the results are inaccurate. The major drawback of this method is that it results into under valuation of inventories
because of exclusion of fixed cost from the existing value of inventories. In addition the
implementation of marginal costing while calculating net profit is not accepted for tax
intent.
Break even analysis
Advantages It offers a variety of technical variables that have impacted marketing variations that have
worsened earnings and potential alternatives to solve them.
Disadvantages
 It implies that both manufacturing and revenues are constantly equivalent, which is
inefficient and a mistake in an extensive company framework (Cowell, 2018).
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 This analysis mainly includes unrealistic assumptions such as goods are not sold on the
exact price at various production level, thus fixed cost do not change with the alteration
in output level.
 In almost every large companies to get more profit more than one product are sold
therefore it is not easy to calculate break even.
D2. Evaluate the application of different accounting techniques.
Application of accounting practices in ABC Ltd. is really the consequence of huge
accounting and knowledge of leadership methods that have spread systematic order within the
organization. Methods such as Cost analysis, Cost-volume profit analysis and Absorption &
marginal costing internal that have been very important in helping manager of company with
practical business solutions to number of problems they faced within controlling business at
different country. Techniques and variances have assisted business people to predicted, create
plans and strategies and supervise development via ongoing vision, mission and plans evaluation
with the help of above-mentioned accounting techniques. It has been also evaluated that marginal
costing is not beneficial for company in some context, such as it only consist of closing stock
where variable cost is consider and all fixed cost are ignored which result into more twisted
image of total revenue to respective shareholder. Absorption costing have a major disadvantage
as it do not support in management decision making such as choosing of appropriate item
combination, whether to purchase or produce, to choose alternative options, minimum cost to
resolve the phase of depression. While Cost-volume profit analysis has some disadvantage to
ABC Ltd like it is hard to separate complete expenses into their fixed and variable parts by this
analysis and Other aspects such as inflation, effectiveness, ability and technology that may
influence expenses of company. Cost analysis is also not helpful many time such as, it require
more time and cost in order to implement authentic standard costing.
TASK 3
P3. Concept of variance analysis in its importance.
In accounting, the term variance is related with the difference among the real amount and
the budgeted or planned amount. Management always wants to have a proper record of each past
transaction of business so that they can easily analyse the record and make better plan in order to
reduce variance between the actual and estimated or planned amount. It is defined as the
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quantitative investigation which help manager of different department to figure out the difference
among the estimated and actual behaviour in budgeting and management accounting. This
analysis is mainly concerned with the gap in real and scheduled practices as it shows company
performance is affected. In simple words, administrators look at the real cost and sales statistics
after a specific period is over and make comparisons with what has been budgeted for that
period. For instance, in ABC Ltd if manager have a sales budget around $10,000 and actual sales
figures were $8,000 in that period, thus the variance analysis yields a difference of $2,000.
There are two steps relevant to variance analysis these are:
 Calculation and recording of individual variances (Cravens and Piercy, 2016).
 Understanding the reason of to each one variance.
Some of the major reason for arising variance are as follows:
 Shift in market circumstances that have made conventional budgeting methods
unreasonable, e.g. shortage of raw materials leading to higher prices for sellers. Supported budgeting norms could be too idealistic in origin, e.g. machine production may
be wrongly thought.
Importance of variance analysis for controlling budget
It has been observed that Evaluation of variance allows budgeters gain an even more
practical picture to make the budget for all the coming year more reliable. As it supports
effective budgeting because management wants to reduced differences from the scheduled
budgets. to make descriptive and advance looking budgetary decisions. Evaluation of fluctuation
behaves as a method of control. Analysis of big differentiation on important products enables the
business to understand the effects and motivates the management explore possible methods to
avoid such deviation. It aid in managing annual budgets by reviewing the estimated budgets and
comparing the same with real income. For instance, the month-end report of ABC Ltd will only
provide statistical data on income and expenditures or levels of inventory. However, the
assessment of variance will assist to recognize the explanations behind the differences between
scheduled and real revenue that could lead to changes in corporate strategy and end goals.
P4. Actual and standard costs to control and correct variances.
Standard costing seems to be the setting of price norms and their regular evaluation of
operations to ascertain the causes for every variance of company during a specific period. It is
essentially used to evaluate the price of direct material, direct labour and overhead costs that are
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the three product elements (De Baerdemaeker and Bruggeman, 2015). Standard goods and
service costs are calculated in advance and compared to the real cost which help to evaluate the
difference and decide for future business situations. This method is used to control variance as it
uses cost estimates to figure all three production cost component such as direct materials, direct
labour and overhead. This support manager to plan for budgets development, product pricing and
costing and distribution to different places for increasing the overall profitability. Hence, when
the standard product cost is calculated in advance and so the difference is compared to the actual
cost.
It actually refers to the real expense of acquiring assets such as direct material, direct
labour and overhead caused by the company. The difference among real costs and normal costs
is therefore referred to as variance. It simply says the actual quantity paid for the purchase of
specific good and by the respective company. For example:
Product
Standard
Time Per
Unit
Budgeted
Units
Total
Standard Hour
Actual
Production
Units Total Production Hour
A 3 3000 9000 1800 5400
B 4 2000 8000 800 3200
Q 5 500 2500 400 2000
Budgeted Hours
Variable Cost Product A Product B Product Q
Cost Item Per Hour 9,000 8,000 2,500
Direct Labour $2.00 18,000 16,000 5,000
Variable
Overhead $4.00 36,000 32,000 10,000
Total Variable
Costs $6.00 $54,000 $48,000 $15,000
Actual Production Hours
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Variable Cost Product A Product B Product Q
Cost Item Per Hour 5,400 3,200 2,000
Direct Labour $2.00 10,800 6,400 4,000
Variable
Overhead $4.00 21,600 12,800 8,000
Total Variable
Costs $6.00 $32,400 $19,200 $12,000
Actual Production Hours
Variable Cost Product A Product B Product Q
Cost Item Per Hour 5,400 3,200 2,000
Direct Labour $2.17 11,700 6,933 4,333
Variable
Overhead $3.33 18,000 10,667 6,667
Total Variable
Costs $5.50 $29,700 $17,600 $11,000
Variances between price and quantity:
Direct Labour Rate Variance = Actual Hours x Actual Rate - Actual Hours x Standard Rate
Product A = 5400*2.17-5400*2
= 918
Product B = 3200*2.17-3200*2
= 544
Product Q = 2000*2.17-2000*2
= 340
Direct Labour Efficiency Variance = Actual Hours x Standard Rate - Standard Hours x Standard
Rate
Product A = 5400*2.17-9000*2
= -6282
Product B = 3200*2.17-8000*2
= -9056
Product Q = 2000*2.17-2500*2
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= -660
VOH Spending Variance = ( SR × AU ) − Actual Variable Overhead Cost
Product A = 4*5400-40000
= -18400
Product B = 4*3200-40000
= -27200
Product Q = 4*2000-40000
= -32000
M3. Advantages and disadvantages of different types of variances.
There are various kind of variances which help to control cost and reduce cost that
directly support to increase the efficiency of business
(Dwivedi, 2016). These variances are grouped according to basis of cost, controllability, impact
and nature. Some of these with advantage and disadvantage to ABC Ltd are discussed below:
Material Cost Variance
Advantage
 The variance analysis section reveals the prevalent connection between distinct
differences.
Disadvantage
 Sometime this variance is based on historical figures may gives unrealistic or misleading
outcomes which also in long run can affect the productivity of company.
Labour Cost Variance
Advantage
 Effective utilisation of labour resources within business entity.
Disadvantage
 Factual consequences of this analysis many time leads to hurt the sentiment of labour.
TASK 4
P5. External and internal factors changing the business.
In recent time, it has been observed that companies need to make suitable changes or
adopt the surrounding changes in order to get the maximum results and receive competitive
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advantage. There are be different internal and external factor that might impact the business of
ABC Ltd as well as their management accounting process.
External Factors
This factors influences the company and also directly impacts the management
accounting scheme as a consequence. These external variables ascertain a standard organization's
strategies, framework and range for accounting systems. Some of these are discussed below:
Business Environment uncertainties: There are different accounting norms produced
according to the origin of the nation and the conventional accounting viewpoint that are still
changing in different ways. This creates uncertainties for business and have a positive as well as
negative influence on business activities of ABC Ltd. The perception of management accounting
principles is also determined by the economic system, development and manufacturing structure,
social factors, policies of the government, tax structure, financial health, degree of productivity
and manufacturing height also decide the way in which systems are created (Elsner, Heinrich and
Schwardt, 2014). According to the country's policies, management accounting also alters because
the scope and policies to be used are highly determined by the performance of an economy.
Disadvantage of business environment uncertainties:
 Business environment uncertainties is not supportive to predict and eliminate the actual
uncertainties that cane be faced by ABC Ltd due to which the overall performance get
impacted. The environmental uncertainties do not included strategic approach due to which it is not
easy for the management to make proper plans for attainment of predetermined goals.
Market competition: This component is considered as significant to define about the
uncertainty of environment. Different models of competitive identity are calculated by
competition in the market prevailing in such a sector or overall economy. It is noticed that the
higher level of competition in market would be responsible for higher and intense accounting
informations to the manager of company. The risk of replacement and fresh entry in a extremely
high in competitive market, thus it generates difficult circumstances in the current company
policies. This affects ABC Ltd and slows business development productivity in specific time
period. In case if competition is not available than ABC limited will not make any innovation
and improvement within goods and services that effect the performance level and targets are
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never achieved. Market competition also help respective company to use the scarce resources in
most appropriate and efficient way.
Disadvantage of market competition:
 This external factors results in losing of interested parties as new supplier, creditors as
well as customer because they have number of option to get the desirable goods at best
prices and quality.
 Some time it leads to excess payment for ABC Ltd has they have to invest more and
more amount in order to improve the quality of goods and services.
Internal Factors: Internal factors have been strongly linked to the organization and are
usually present within the organization (Variance analysis, 2019). The company's value structure
is also calculated by the management accounting systems. The primary components of inner
variables are inner procedures, individuals, beliefs, composition, business, comparative size of
the company, strategic purpose. Managers and owners can regulate most of the inner variables,
but their knowledge of these variables can adversely affect the efficiency and economic situation
of the organization. These variables are important since they directly affect the policy and
company, thus proper assessment of inner variables helps to increase competitive benefits.
Competition strategy: The market competition of determining market competition as
defines the management accounting rules structure (Hayes, 2018). The contemporary
differentiation among traditional competition concepts of cost leadership, differentiation focus,
price concentrate, difference dominantly determines the growth of management accounting
principles and becomes component of evolving company through application and distinct
strategies in services and products management. The same applies to differentiation where
leadership would concentrate more on the company' subjective elements. Hence, coordination
among policies and manner of accounting describes the range of accounting management.
Business marketing approach defines the range of the company's management accounting and
even if the company's distinction is concentrated on product performance instead of price, while
the company's strategy on price leadership requires more billing to decrease expenses.
Disadvantage of competition strategy
 If manager of ABC Ltd only works on engaging with all the other market participants,
they might be ignoring the production costs or overhead. As a consequence there is a
chance of margin loss.
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 It is a challenge for small businesses like ABC Ltd to create resource like technology,
capital, new employees to retain competitive pricing strategies.
Size & sector: Large company companies have the economic assets to adjust relative to
tiny organizations towards the most advanced management accounting schemes. Small and
medium-sized companies like ABC Ltd depend mostly on straightforward, descriptive and
committed MIS technologies, while big businesses are powered by a solid network of latest and
new technologies (Kaplan and Atkinson, 2015). Company size defines the movement of inner
systems of management accounting. A certain factor refers to the industry where the company
operates. From ABC Ltd. Is a SME, due to various enhanced rivalry, the range of management
accounting rises.
Disadvantage of Size and Sectors
 The major disadvantage for ABC Ltd is related with funding, as they do not have enough
option for raising funds due to which many time they faces the situation of low
productivity.
 ABC Ltd can have significant barriers to gain from the economies of scale, leading to
increased costs in some kinds of businesses and causing difficulties in changing
consumer prices
M4. Impact of different types of change.
Types of changes
Incremental changes: This relates to a slight change or modification to a mentioned
result and affects the development of the company and its current structure. Such as in ABC Ltd,
managers are planning to expand business in different part so they want to bring few incremental
alterations in order to improve quality of product using decorative design and attractive features
and adding more advance comfort level.
Transformational changes: This relates to a rapid change or shift to a referenced
consequence involving strategy, rethinking, revolution and a large change scheme. Such as in
ABC Ltd, have a plan to make business in various part of country so that profitability can be
increased. Thus this change involves a diversification through the use of approach and fresh
technologies in an organization's culture (Kalkhouran and et. al. 2015).
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D3. Critically evaluate the impact of changes.
From the above-mentioned description of external and internal variables, it is assessed
that both these factors have a major and adversely impact on the organization business. These
change would affect both the company and the business culture that affects the performance of
staff. In the respective firm this shift can be positive or negative as it will impact the business
development and framework. Based on these modifications, the company's manager decides on
the advantage of the firm and will focus to improve the organization's profitability and
productivity. It will assist to decrease the price of each unit item to the organization. It is also
critically evaluated business uncertainties have a major impact of management accounting such
as increasing the absorption rate and fluidity could have an impact on more helpful and suitable
feedback method due to greater commitment to distinct measures. Likewise, greater diversity and
complexity of firm's environment influence characteristics of management accounting tasks a
greater range of feedback into the decision-making system guarantees a more insightful and
appropriate feedback method.
CONCLUSION
The report concludes that, with the support of advance principle of management
accounting ABC Ltd is able to improve the functioning and controlling of different function so
that a good advantage can be attained against competitors. Different accounting methods
provided by accounting help the company's management team to take solid company decisions
that provide outstanding assistance for its workings and help advance policies by directing
procedures into a wide decision-making structure. This is because of unfavourable or adverse
cost variances, it is suggested to expand actual manufacturing hours for suitable use of labour
productivity and efficient use of resources and variable overheads.
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