costing net operating income

Q: Contribution margin ratio definition and how is useful in planning business operations?

A: Solution:- Contribution margin ratio definition as follows:-

Q: Q.How do managers plan for variable overhead costs?

A: The cost which is dependent upon the level of output and changes if the level of output fluctuates…

Q: Discuss the merits and demerits of the cost volume profit analysis (CVP)

A: Cost volume profit analysis is one of the important concept used in cost accounting. Under this…

Q: How does a service company calculate unit cost per service?

A: Unit service cost refers to the cost that is incurred for providing the service. It is a concept…

Q: On assigning costs to different products. What is the benefit of cost assignment? How does this aid…

A: The cost assignment refers to the process where the costs are allocated to the objects or activities…

Q: How does a product cost differ from a general, selling, and administrative cost? Give examples of…

A: Product Cost: Product costs are the expenses directly associated with making a particular product.…

Q: Relevant examples of direct and indirect costs

A: Relevant examples of direct and indirect costs.

Q: What are the cost associated with production? (COSTING METHOD)

A: The cost associated with production includes costs like direct material costs, direct labor costs,…

Q: A cost allocation rule is the method or process used to assign the costs in the ________ to the…

A: Cost allocation refers to the process of identifying and assigning the overheads to the service…

Q: Marginal Costing

A: Option a is wrong because marginal costing is not a technique of cost reduction. Cost reduction…

Q: in intended application between sales life-cycle analysis and life-cycle costing

A: The strategic pricing depends on the product price which it supported the worth it charges to the…

Q: In activity-based costing, the criteria used in selecting cost drivers which is ideal is a. Benefits…

A: Solution: In activity-based costing, the criteria used in selecting cost drivers which is ideal is…

Q: DAILY REVENUE AND COST

A: The daily revenue is the revenue which has been earned by the company or any business during the day…

Q: Explain the Problems in Cost Accounting Measurements?

A:

Q: Cost behavior Costs Value Chain O Cost drivers

A: Answer: Cost behavior is defined as the changing nature of cost dependent on any units. Costs are of…

Q: What is Re-order quantity? What is Re-order level? What is Maximum stocklevel? With respect to…

A: Inventory management consist of various levels namely re-order level, re-order quantity, maximum and…

Q: 1.An activity that has a direct cause-effect relationship with the resources consumed is a(n) Group…

A: In activity based costing the cost are apportioned based on the respective cost drivers

Q: how Cost Managemnt decision-making plays a role in the decision-making and success of the company?

A: Cost management decision-making is a critical aspect of any business. It involves the process of…

Q: How do managers decide whether a cost is adirect or an indirect cost?

A: Cost refers to the amount of money incurred for acquiring a product or manufacturing a product. Cost…

Q: costs that change proportionately according to the changes in the cost driver.......

A: variable costs are the costs that change according to the changes in the cost drivers or changes…

Q: the examples of

A: Answer

Q: Critically evaluate the concept and application of marginal costing

A: Concept of marginal costing: Marginal cost is the difference between total costs increasing or…

Q: What is the standard cost income statement? Give an example?

A: Meaning of Standard cost income statement:A standard cost is the estimated cost of production based…

Q: Describe management’s use of absorption and variable costing.

A: Absorption costing is also known as Full absorption costing. It is one of the managerial accounting…

Q: real life example of Absorption costing and traditional costing

A: Absorption costing is a managerial accounting method in which we capture all costs that is…

Q: A cost objective is the: O reason for allocating the cost O product, service, or department that is…

A: Cost object is the allocation related to the product, service. It allocate the cost according to the…

Q: In Cost accounting the main emphasis is on ?

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

Q: What is the typical focus of responsibility reports for cost centers, revenue centers, and profit…

A: Responsibility Centre:   A responsibility centre is used to show the financial performance of all…

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: Malmo, Inc. manufactures travel locks. The budgeted selling price is $12 per lock, the variable cost…

A: Flexible budget means expected income and expenditure in future to find out budgeted income.…

Q: Define total productive efficiency

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

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: Define the term total costs.

A: Costs: Costs refer to the expenses incurred by the business in the procurement of the materials,…

Q: Define Cost recovery method

A: Cost recovery is a method in accounting wherein a business only records the revenue it earns from a…

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…