choose a company which produces more than one product. Take at least two of these products and discuss the different costs between these two products which may make one more profitable than the other.

Give three examples of product cost definitions. Why do we need different product cost definitions?

company You are a management accountant of EON and Brothers Ltd., a manufacturing that produces two products simultaneously in one of their production plants. You are asked to produce a management report on costing techniques. This company follows a traditional approach to costing and absorbs production overhead using machine hours. The company's policy is to add a 50% markup on the unit cost to obtain the selling price. The relevant information is given below: EON and Brothers Ltd. produces two similar products called Alfa and Beta. Total Overheads = £155,000 Machine Hours = 58980 hrs Product Alfa Beta Production Units 2,580 5,100 Material Cost per unit £31 £51 Labour Cost per unit £21 £17 Machine Hours per unit 11 16 After discussing with all the important people of the production plant you have allocated the overhead costs as mentioned below: % Overheads Set up Costs 30 Inspections 40 Materials Handling 30 Cost Pools are as mentioned below: Alfa Beta Total Setups 400 65 465…

Define incremental cost, opportunity cost, and sunk cost. How do these costs impact decision-making? “Variable costs and incremental costs are essentially the same in decision-making.” Do you agree or disagree. “All future costs are relevant costs in decision-making.” Do you agree or disagree. From a decision-making point of view, should joint costs be allocated among joint products? Why or why not? Explain how relating product contribution margins to the amount of the constrained resource they consume help a company maximize its profits?

If JIT manufacturing is used and each manufacturing cell produces a single product, which of the following is considered a direct product cost? Inspection costs Materials Setup costs All of these

Which of these costs would be the most difficult to estimate when you know exactly how many units will be produced? Group of answer choices rent insurance utilities materials used in the product

You have been asked by management to classify the costs associated with the start-up of this new product line. Using the cost information provided below, classify each cost under the appropriate heading according to the chart provided below. Note that some costs may be classified under more than one heading. For example, a cost may be a fixed cost and a period cost. Name of cost Variable Cost Fixed Cost Direct Materials Direct Labor Factory Overhead Period Cost Prime Cost Conversion Cost Carlson “New Product” Cost Information Cost Amount Cost Type Depreciation on Building (annual) $ 10,000   Direct Labor Cost (per unit) $ 75   Direct Materials Cost (per unit) $ 60   Factory Utilities (per unit) $ 8   Indirect Materials (per unit) $ 4   Interest on Investments (annual) $3,000   Machinery Rental (monthly) $ 6,000   Marketing (annual) $ 35,000   Rent from Tenant (annual) $40,000…

ABC systems get more accurate as more activities are identified and analyzed. Critique the following statement: “A company should look to break its production process into as many activities as possible in order to determine the most accurate unit costs possible”. Why do you agree or disagree with that statement? Give several reasons.

Decisions where relevant cost analysis might be used effective is Sell or process decisions. Explain IN YOUR OWN WORDS what "sell or process decision" is AND MUST USE EXAMPLES IN YOUR DESCRIPTION.

1. Select two decisions-one common to a manufacturer and the other common to a service organization-and give two examples of irrelevant future costs for each decision. Why are they irrelevant.