IBe the relevant costs in evaluating whether to accept an order at a special price. Provide an example of this decision. What are th qualitative factors that ma

Q: When reporting information, the most important thing to be considered is that, the cost. a. Should…

A: When reporting information, the most important thing to be considered is that, the cost Should be…

Q: Kaizen costing aims to reduce costs during the A. production B. post-production C. design D. testing…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Is

A:

Q: How important is it to trace costs appropriately?  Explain. As you are beginning to think about the…

A: Solution:- 1)Discussion of How important is it to trace costs appropriately as follows under:-…

Q: Which of the following describe the relevant information for decision making: Select one: O a. Help…

A: SOLUTION- Relevant information includes costs and benefits that differ among the alternatives.…

Q: decision making purposes, relevant costs are: a. variable past costs b. all fixed and variable…

A: Relevant cost is the cost which are relevant in decision making process. Sunk cost are the cost…

Q: “Sunk costs are considered by a manufacturer in decision making”. Do you agree? Explain.

A: "Sunk costs are considered by a manufacturer in decision making”. I do not agree with this…

Q: Marginal Costing

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

Q: What modifications are made to the cost classification of product costs in estimating service costs?

A: Cost classification refers to the separation of various expenses into different categories. It is…

Q: 1.Discuss sunk costs and opportunity cost.

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Q 7: prices What is meant by Transfer price and why transfer are needed?

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What is lower of cost/market, and why is it used? Provide an example.

A: Inventory is a term which depicts the amount of finished goods prevailing in the business. The…

Q: Which method results in a more realistic amount for income because it matches the most current costs…

A: The current costs is based on the purchasing of the latest products which means the having book…

Q: Standard cost is a Select one: O a. Actual cost b. Historical cost c. Predetermined cost O d. direct…

A: Let's start with understanding of meaning of standard cost  Standard cost:- Standard cost is the…

Q: What do you understand by rate of markup on cost and rate of markup on selling price, illustrate…

A: Answer: Mark-up is nothing but the difference between a good or service’s selling price and its…

Q: Which of the following is not a factor to consider when deciding whether to accept a special order?…

A: It is the process of making decisions that involve the management of costs in order to achieve…

Q: What is the economic rationale for the cost approach? Under what conditions would the cost approach…

A: Answer: Economic rationale for cost approach: The cost approach means that the person who is…

Q: Match the type of cost shown in the left column with the corresponding description shown in the…

A: 1. Irrelevant Cost - (B)  A cost that is not pertinent to a particular decision. 2. Future Outlay…

Q: Determining the transfer price as the price at which the product or service transferred could be…

A: Transfer pricing relates to the procedure used to establish the price of products or services traded…

Q: The cost flow method chosen must match the actual physical flow of the goods. True or False True…

A: Cost flow method in accounting refers to how a business allocates costs to the items in its…

Q: n be obtained from this rating?

A: Given: To analyse the cost classification with the benefits as follows,

Q: Research and development costs are classified as: O a. Inventoriable costs. O b. O c. O d. Product…

A: A cost accounting system is a system of accounting that is helpful for the internal management to…

Q: What is the decision rule for selling a product as is or processing it further?

A: Definition:   Differential analysis: Differential analysis refers to the analysis of differential…

Q: When standard costs are used in applying the cost-plus approach to product pricing, the standards…

A: False No, the standards should not be based upon normal levels of performance.

Q: Choose one correct answer by writing down the question number and the letter representing the answer…

A: Costs are classified as direct and indirect costs. Direct costs are a cost which is directly related…

Q: With respect to Pricing decision in Cost Accounting, state any 4 situations where pricing below…

A: Pricing decision plays an important role in an product sales and growth where the price of the…

Q: Identify the importance of marginal and absorption costing on profit determination and inventory…

A: In the costing method known as marginal costing, the fixed cost for the period is entirely written…

Q: n a decision analysis situation, which one of the following costs is generally not relevant to the…

A: Decision making is the process used to choose one of the various available alternatives. Examples of…

Q: Explain briefly how do you understand the concept of Cost of Good Sold. (In your own understanding

A: The cost of Good sold is an important matrix that is used in the accounting in finance in order to…

Q: What is an advantage of using historical costs on a financial statement?   Group of answer choices…

A: In this question, we are required to determine the advantage of using historical costs in a…

Q: The costs most relevant to be used in decision making are: a. sunk costs O b. current costs O c.…

A: Cost: It implies to the expense that is incurred on the manufacturing of a product or rendering…

Q: Write the general formula for cost-plus pricing, and briefly explain its use.

A: Cost-plus pricing: It can be defined as the pricing strategy which includes the determination of the…

Q: Please specify and explain the average cost answers.

A: Average cost method assign the cost to inventory item on based on total cost of inventory dividend…

Q: In Make or buy decision ,irrelevant costs are :  Select one: a. manufacturing costs that will be…

A: Under make or buy decision, decision needs to taken whether we should manufacture the product or…

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 cost accounting covers the problem of Evaluation of alternative while buying

A: Cost accounting system is a framework that guides the firm to calculate their cost and helps in…

Q: em. b. the amount of money paid for an item,

A: Opportunity costs are the potential gains that an individual, investor, or corporation foregoes by…

Q: Which option does NOT form part of measurement bases in terms of IAS1? Select one: O a. Prime cost O…

A: In summary, IAS 1 does not specifically mention "prime cost" as a measurement basis, but it does…