Which is the best definition of start-up costs? a. All activities associated with organizing a new entity. b. Organization costs. c. One-time activities for opening a new facility, introducing a new product or service, conducting business in a new territory, conducting business with a new class of customer, initiating a new process in an existing facility, or some new operation. d. Activities related to routine ongoing efforts to refine or otherwise improve the qualities of an existing product, service, process or facility.

In detail discuss what are  the advantages and disadvantages of using FIFO for process costing. In periods when costs are increasing how will FIFO affect reported net income? What about in periods of declining costs? Explain.

Which one of the following is not a step in allocating the support department cost to the production department? Select one: a. Trace all the overhead cost b. Divide the departments in to support and producing departments c. Undertake a breakeven analysis d. Divide the company in departments

Checklist of evidence required Finally, you should reflect on the results of your activity-based costing exercise, by: a) explaining how costs are categorised. b) identifying those cost areas that have the greatest impact on the profitability of the product that you have investigated. c) evaluating the reasons for producing an activity-based cost model. d) explain how ABC model used to improve profitability. A research and problem solving project to explore the costs associated with engineering activities and to complete an activity-based cost model for a product.