How do step-wise costs and curvilinear costs differ?

Q: What is the variable cost and indirect cost?

A: Variable costs are costs that changes with level of activity. If activity level increases, then…

Q: what is variable cost per unit?

A: Variable Cost = Cost which changes with change in units.   Variable Cost Per unit = It is Variable…

Q: Explain the difference between total variable costs and variable costs per unit.

A: Cost can be categorized as variable and fixed costs.

Q: Which is more consistent with cost-volume-profit analysis, variable costing or absorption costing?…

A: Absorption Costing: "Absorption costing is a method that allocates "direct labor, direct materials,…

Q: How does standard costing differ from actual costing?

A: Actual cost system: An actual cost system uses actual costs for “direct materials, direct labor, and…

Q: What are some factors that affect variable costs?

A: Variable costs: A variable cost is a business expenditure that varies in proportion to manufacturing…

Q: Show income comparison's of absorption and variable costing?

A: Absorption costing method can be defined as the all the costs that is associated with the production…

Q: What is the similarity of fixed costs with variable costs and its differences.

A: similarities and differences of fixed cost and variable cost are discussed in step 2

Q: What is the cost measurement? cost accumulation? what is the difference between the two?

A: Cost is the monetary value of an item or a service. While producing an item, there may be various…

Q: What is a cost driver? Give one example?

A: Cost: Cost refers to expenses incurred by the business to earn revenue from sales, in other words…

Q: Is there a difference between relevant costs and incremental costs? Explain

A: Relevant cost: Relevant cost is the cost which is relevant in decision making of a project, and…

Q: Define variable cost and fixed cost. Give an example of each?

A: Variable Cost: Variable cost refers the cost which varies due to the change in the level of…

Q: Why is it necessary to distinguish between variable and fixed costs when dealing with mixed costs

A: Introduction:- Every Business expenses are classified as either fixed or variable costs. on other…

Q: Types of Fixed and Variable cost with the help of example and graph?

A: Costs are the total spent amount for the expenditures and for producing the goods and services.…

Q: What is a variable cost? Identify two variable costs.

A:

Q: What is a relationship between fixed, variable and semi-variable cost?

A: Cost can be defined as the amount incurred upon the production of goods and services for the final…

Q: Why there is a need to identify the standard co

A: Standard Cost A standard cost is an estimated expense that normally occurs during the production of…

Q: What is a standard cost? Explain? Give an example?

A: Standard Cost: Standard cost is the benchmark amount of per unit product, per unit input or per unit…

Q: What two assumptions are frequently made when estimating a cost function?

A: Cost Function:Cost function represents the basic change that occurs in the total cost due to the…

Q: Explain the difference between a cost standard and an efficiency standard. Give an example of each.

A: Cost standard: This refers to the cost expected to be incurred for a given level of output.…

Q: what is the difference in unit costs?

A: Solution:- Given,  Steel Costing = 8 Ounce Aluminum Costing = 5 Ounce Penalty for each extra pound =…

Q: What does the Unit contribution margin express?

A: Break Even Point:                 Break Even Point is defined as the level where there is no profit…

Q: What is the difference between a structural cost driver and an executional cost driver? Provide…

A: Cost driver: cost driver is a particular unit or specific activity that is responsible for a change…

Q: How is uniform cost search different from plain BFS?

A: UCS : Uniform Cost Search is an uninformed search algorithm. It cannot deal with a heuristic…

Q: Discuss the difference between the revaluation model and cost model in detail.

A: Revaluation model and cost model are two different models of subsequent measurement of invested…

Q: What are the advantages and disadvantages of ABC relative to the step-down method of cost…

A: ABC means Activity Based Costing. Costs will be allocated based on the activities the organization…

Q: How are absorption costing and variable costing the same? How are they different?

A: Absorption Costing: "Absorption costing is a method that allocates "direct labor, direct materials,…

Q: What is the difference between joint costs and common costs?

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: What is the difference between absorption costing and variable costing?

A:

Q: What is recalculated cost?

A: Cost: It implies to the amount that is paid or spent on a specified task or activity. It indicates…

Q: How does GPK compare to ABC costing?

A: GPK is a German costing methodology which was developed to provide an accurate calculation of the…

Q: what consequences can broad averaging have on costs?

A: Broad Averaging: Broad averaging is also known as peanut butter cost is a costing approach of…

Q: Define the following terms: differential cost, sunk cost, and opportunity cost.

A: Differential cost:  Differential cost is the change in total cost due to increase or decrease in…

Q: Explain the difference between target price and target cost.

A:

Q: How is Variable Costing and Absorption Costing differs from each other?

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: Which of the following is the best definition of a variable cost?

A: Types of Costs 1. Variable Cost: The cost which changes with the change in the level of activity is…

Q: What is a target cost per unit?

A: The target cost per unit refers to the cost that is to be estimated that the customers are willing…

Q: What is the variable cost? Give an example.

A: Variable costs tend to vary in direct proportion to the volume of production. If a cost is variable,…

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.