Cost Accounting don’t disclosure the information? True Flase

Q: Cost accounting looks at the company as a whole and not at the various units, jobs or processes.…

A: Cost Accounting is used to ascertain the cost of a product or service in detail. The indirect costs…

Q: It is the collection of cost data in some way through an accounting system O A. Cost allocation B.…

A: Cost accumulation includes the usage of a formal cost accounting structure or system to gather and…

Q: Please explain with examples briefly benefits of accounting system for manual cost accounting?

A: Cost accounting: It is a branch of managerial accounting that focuses on calculation of total cost…

Q: Explain the treatment of over and under absorption of overheads in cost accounts?

A: Overheads: These are defined as the expenses incurred in relation to an ongoing business. These are…

Q: TRUE OR FALSE A cost function is useful only in an activity-based costing system.

A: Answer:   A cost function is useful only in an activity-based costing system.     The statement…

Q: True or False Cost and managerial accounting are not the same things

A: Cost accounting is the process of accounting and controlling the cost of a product,operation or…

Q: Cost accounting depends entirely on historical information. Select one: True False

A: Cost accounting is the accounting of the total cost related to production of the product. It…

Q: What does the following statement mean? “Accounting for overhead involves an important costbenefit…

A: Overheads are typically accounted by accumulating costs and dividing the total costs by the total…

Q: The choice of costing method will impact both the balance sheet and the income statement. True or…

A: Different costing methods produces different results. For example, absorption costing produces…

Q: How cost accounting covers the problem of price assessment

A: Cost Accounting Cost accounting is also a form of group action accounting that aims to capture a…

Q: Define and explain the concept of cost accounting.

A: Introduction: An essential fee accounting device operates in real-time by monitoring raw materials…

Q: What is the difference between direct and indirect costs? Explain.

A: Cost is the expense incurred for producing or manufacturing a product. It includes raw material,…

Q: What is Cost account payable

A: All variable costs are reduced from sales revenue to get at a contribution margin, from which all…

Q: Explain whether the cost accounting system primarily supports internal or external reporting.

A: Cost Accounting System: Cost accounting system refers to as a framework designed by the company to…

Q: Cost accounting is an area of accounting concerned with cost determination, cost control and cost…

A: solution : Cost accounting is an area of accounting concerned with cost determination, cost control…

Q: In Cost accounting the main emphasis is on ?

A: Cost accounting is the classification, documentation, and appropriate distribution of expenditure…

Q: What are the differences between cost accounting and cost management?

A: Cost Accounting: Cost accounting refers that branch of accounting, which records and analyzes the…

Q: Which of the following costs would not be inventoriable?  Indirect labor cost Office rent factory…

A: Inventoriable cost means the cost which will be considered while valuing the inventories. Only the…

Q: bject:cost account

A: Cost of Production report states the cost per Equivalent unit produced and transferred and cost of…

Q: Which of the following statements about manufacturing cost flows is false? a. Direct materials,…

A: As per our protocol we provide solution to the one question only but you have asked two multiple…

Q: What type of cost is included in economic costs, but not included in accounting costs?a. Explicit…

A: Economic costs are the costs in which consideration is given to opportunity costs as well.

Q: How you relate the differential cost with management of revenue in management accounting.

A: Management Accounting is a type of accounting which is used within the company for the purpose of…

Q: a) Why are neutral expenes eliminated and imputed cost added to derivee cost from expenses

A: Deriving the cost from expenses is necessary to ascertain the exact cost incurred and to…

Q: Salary paid to administration staff is an example of a direct cost. TRUE or FALSE?

A: Direct cost: Direct cost is the cost which is directly related to production process.  Indirect cost…

Q: What is the definition of cost?

A: In the business, costs are the important measures to determine the value of elements being purchased…

Q: How do accounting books handle overhead overabsorption and underabsorption?

A: Overheads are the basic cost component of any product or service. It basically comprises of the…

Q: objectives of the accumulation and reporting of cost accounting information

A: Cost accounting information is the information regarding costs regarding activities, processes, or…

Q: Explain cost concepts it is relevant for the company to be aware of in decision situations such as.…

A: Here discuss about the details of the various costs which are incurred to the business entity which…

Q: tatement is true or false, and correct the false tatement(s): Manufacturing cost is called period…

A: Manufacturing cost is the cost incurred to manufacture units . It includes direct material , direct…

Q: What do you mean by cost accounting? Write about its types in brief with examples

A: Accounting is a procedure whereby an individual can record financial transactions of the business.…

Q: How is cost accounting information used by management? Why is unit cost information important to…

A: Cost Accounting:-It is a method of calculating and assessing the cost and expenses related to the…

Q: Direct costs are classified by controllability.    True False Can be true, can be false

A: Direct costs are those costs which are directly incurred for purchase or production of goods in the…

Q: why service industry not involved production cost and retail industry involve in production cost?

A: In the method of Job costing a particular service is obtained by allocating costs to a distinct…

Q: Which of the following is the main objectives of cost accounting? a. Maintenance of machinery b.…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

Q: In Classification Of Cost, What Is A Business Situational Example of the ff:

A: Cost refers to the amount spent by the business on the purchase of raw materials, supplies,…

Q: Differentiate between a cost center and a profit center.

A: An activity center, also known as a responsibility center, is a business organization unit that is…

Q: The purpose of costing are as follows EXCEPT:   Price products Make decisions record cost Formulate…

A: The purpose of costing  1. To fix the price of the product 2.  For decision making  3.  For…

Q: The branch of accounting that deals in particular with the different cost concepts in order to…

A: Accounting is a process of identifying, recording, classifying, summarising and analysing business…

Q: Describe accounting concepts useful in classifying costs.

A: Costs of a business can be classified on various basis On the basis of cost behaviour On the basis…

Q: Tracking the cost of product is belong to the cost accounting Select one: O True O False

A: Product cost includes the total cost of goods manufacturing. So it includes direct material, direct…

Q: How do accounting books handle over and under absorption of overheads?

A: Under absorption takes place when the amount is absorbed lower than the actual whereas,…

Q: Which of the following is a correct statement? Check only those that are correct. Choose All That…

A: Cost tracing refers to the process of matching a cost with the product which is being produced.…