Identify a particular support function of a college (the library, for example). Discuss possible allocation bases that might be used to allocate costs in the function to programs (degrees) or students.

Q: Discuss the difference between revenue and capital expenditures using examples as the concepts might…

A: Revenue Expenditure (RE) is recorded in the income statement to arrive at net income for the period.…

Q: Who of the following is an activity-based pricing limitation? Each important action accumulates…

A: Activity based pricing is method where cost is allocated basis the cost drivers.  ABC systems…

Q: What is conceptually the most defensible method for allocating support-department costs? Why?

A: Cost Allocation Method: The cost allocation method is the method by which the costs to be assigned…

Q: Explain how the activity resource usage model is used in assessing relevancy.

A: Decision making is an important component of every single business. The end results of the…

Q: 7a. How would you use the concept of intenal rate of return to assess the value of an educational…

A: The Internal Rate of return: The discount rate at which the present value of cash outflows is…

Q: Define direct costs and indirect costs and prepare a list of three direct and three indirect costs…

A: Direct costs are the expenses which connect to cost object. These costs include raw materials, labor…

Q: Suggest a reasonable basis for allocating thefollowing indirect expenses to departments: advertising

A: An indirect cost is the cost which is indirectly involved in the process of production.

Q: ates are determined by iding the cost budgeted for each activity pool by t e for that pool iding the…

A: Activity rate is used in activity based costing. Activity rate is then multiplied into usage to…

Q: Concerning computer software to be sold, leased, or otherwise marketed, which of the following costs…

A: Introduction: Costs of product: Amount spent for making the product in to a finished goods from raw…

Q: Describe a cost center, profit center, and investment center that one manufacturing company might…

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: What are support departments, and why are their costs allocated to other departments?  What process…

A: Support departments are those departments which helps or provides support to other operation…

Q: Give an example of an open system in the context of University?

A: Open System: An Open System may be a system that often exchanges feedback with its external…

Q: What are possible allocation bases that might be used to allocate costs in a library function to…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: What are some reasons to maintain actual costs in line with the budgeted amount? Describe the work…

A: The Answer :

Q: Critically evaluate how Standard Costing procedures can be  applied in service companies.

A: Standard Costing             Standard costing is a costing technique similar to the budgeting…

Q: Give an example of a common resource in an organization. List some of the opportunity costs…

A: Opportunity cost: Opportunity cost refers to the forgone revenue that could have been generated…

Q: Give examples of allocation bases used to allocate support-department cost pools to operating…

A:

Q: There are three general strategies identified as the basic co

A: Strategic Cost Management:  Strategic Cost Managemeent is the provision and analysiis of Cost and…

Q: Discuss the disadvantages of Absorption Costing for cost control and performance evaluation.

A: Absorption Costing: Absorption costing is a method for calculating the full cost or total cost of a…

Q: When an organization allocated indirect costs to departments by relative size of the budgets, it is…

A: The question is True or False.

Q: Discuss how the budgeting process in an organisation benefits a functioning standard costing system

A: The process of creating a budget is referred to as budgeting. This process involves budget planning…

Q: A company is planning to purchase various machineries and equipment. Select the one which will…

A: Capital expenditure budget :  A capital expenditure budget is a written plan that specifies the…

Q: In pursuing its goals, an organization does all of the following except: Multiple Choice Engage in…

A: An organization is a group of people united to achieve a common objective of making a profit for the…

Q: Describe at a high level the various cost categories and expenditures.

A: Expenditures refer to money spent on goods, services, or investments. It is the amount of money used…

Q: Product Design essentially involves Value Engineering'. A 'Value Engineering' is performed through…

A: Value engineering in product design: Value engineering is a cost reduction strategy aims to produce…

Q: In the first stage of ABC, a cost driver is selected for each activity cost pool. True or False?

A: ABC i.e. Activity Based Costing is a type of costing method used by companies to assign overhead and…

Q: need distrebution the cost of service centers to the production center.

A: Overhead is the cost that is directly involved in the production process of the company. It is…

Q: Define standard costs and briefly indicate how they may beused by management in planning and…

A: Standard costs: Standard costs are the per-unit cost that is expected to be incurred under normal…

Q: Describe the key steps of resource assignment and cost assembly via eTakoff and Sage Estimating.

A: Sage Estimating is an ERP tool that gives you the flexibility, speed, and accuracy to generate…

Q: Discuss the different ways you might select a discount rate when evaluating different projects for…

A: Different ways to select a discount rate while evaluating a project are: 1. Unit consistency: The…

Q: Cost allocation is a general term that refers to identifying accumulated costs with, or tracing…

A: Answer:- Cost allocation:- Identification, agglomeration, and assignment of costs to cost objects…

Q: Which one of the following is NOT a budgetary benefit? It establishes the organization's goal. It…

A: Budgeting is a written plan covering projected activities of a firm for a defined period of time…

Q: Which of the following is a basic element of effective budgetary control?a. cost behavior patternsb.…

A: Budgeting is a process that involves estimation of total costs and revenues of a firm over a…

Q: Based on the assignment and what you know about management accounting, what do you believe is the…

A: Management accounting :             The branch of accounting which facilitates the information from…

Q: Describe accounting and presentation for research and development and similar costs.

A: Definition:   Research and development cost: These are the cost that is incurred on the research…

Q: plain the financial aspects of planning and costing as embe

A: Budget : It is an expression of an organisation's plan, policies and programmes in the form of…