vironmentally- ke the product:

Q: What are some management techniques in cost management

A: Cost Management refers to the practice of estimating, recording and closely the monitoring the costs…

Q: What are transferred in costs? When do they occur?

A: Transferred in costs: Cost that is assigned to partially completed products that have been finished…

Q: Distinguish between Period cost and Product cost? Give two examples of each cos

A: Classification of costs on the basis of functions:- 1. Product Cost 2. Period Cost

Q: Distinguish between the following set of terms: Direct product costs and indirect product…

A: Product Cost - Product Cost is the cost incurred by the organization for the product of the entity.…

Q: Define initial direct costs.

A: Initial direct cost: A cost that is incurred during the process of initiating the agreement of lease…

Q: Define product cost

A: Direct costs is referred to as the cost which can be traceable to a product directly. Example,…

Q: "Standard costing improves the control function" comment

A: Standard costing is one of the technique of accounting.  Standard costing is the method which…

Q: Understand thedifferences between directand indirect costs

A: Cost:   It refers to the economic value incurred by an organization for manufacturing a product or…

Q: Which of the following is a carefully predetermined cost that is usually expressed on a per unit of…

A: Cost: In accounting, the cost is related to monetary value spend on raw material, services, and…

Q: Explain the difference between direct costs and indirect cost

A: Direct cost is the cost incurred by the organization while performing their center business process…

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: Examples of transaction costs

A: Transaction costs are the costs which occur during buying or selling of services and goods. They are…

Q: Define relevant cost.

A: Relevant cost is a cost which can be changed with change in selection of a alternative decision.…

Q: A direct costs is a cost that is:

A: Solution:- B) Option "B" is the correct answer Reason:- A direct cost is the that is identifiable as…

Q: Summary, identify and relate the concepts of costs variable, step-variable, fixed, step-fixed,…

A: Answer:-  Cost meaning:- Cost is the sum money that a business spends on the development or…

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: Why cant prime cost be added to conversion cost to get total product cost?

A: Product Costs: Product costs are the costs that are incurred to produce a product or providing a…

Q: Explain unit sales.

A: Sales: Sales means the goods and services sold by one company to their customers for a period.

Q: Define total productive efficiency

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

Q: Describe the components of contribution margin.

A: Contribution Margin: Contribution Margin refers to the margin of profit expected by the company. The…

Q: How are joint costs allocated? Explain and analyze using numerical example.

A: Joint Costs In business different costs are incurred in the production process, but in certain…

Q: Which one of the following is another name for product costs? Select one: a. Direct costs b. Period…

A: Product cost means the cost of producing one unit of finished goods.