Which of the following terms is commonly used to describe the departments within a company that provide a necessary service to produce a product but are not directly involved in production? a. expense departments b. support departments c. costing departments d. investment center departments

Q: Which of the following is the best definition of product costs? a. Product costs are those costs…

A: Cost refers to amount or value which has to be incurred in order to purchase or produce a product…

Q: Inventoriable costs:     include administrative and marketing costs     are particularly useful in…

A: Inventoriable costs: These include all the expenses that are directly related to the manufacturing…

Q: Which one of the following costs can be accurately identified as forming part of a cost centre?…

A: A cost center is a department of the company that supervises the costs of the company. Examples -…

Q: Cost Accounting - Process costing The analysis of the activity in a department or cost center for a…

A: Process costing is a costing system wherein a large number of products have been produced and cost…

Q: a manager wants to assess the costs incurred in a department in the production department. then the…

A: all the product costs will be incurred in the production department.  - product costs like  Direct…

Q: provide an example of a function/operation that is a cost for a company

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

Q: Which of the following is the most difficult but most accurate of the commonly used methods for…

A: The cost of support departments is allocated to the production departments. Some a support…

Q: Which of the following best describes the activities of the production function?a. maintenance,…

A:

Q: activities performed by another firm or individual

A: Option "b" is wrong because responsibility centers are units within the firm, not another firm or…

Q: 1. What types of costs are allocated? What is a support department? What is a producing department?…

A: Allocation refers to distribution of total overhead cost to the departments that have actually used…

Q: Which of the following would be the most appropriate cost driver allocating the service department…

A: Cost drivers are direct reason of cost incurred. Allocation of overhead is made on the basis of cost…

Q: is commonly suggested that a management accounting system should be capable of supplying different…

A: Solution-                                                              Costs , their purpose and…

Q: The area of management concerned with designing and overseeing the process of production is which of…

A: Operations management is the management of operational processes inside a company to make the…

Q: Assigning indirect costs to departments is completed by ________.

A: Indirect costs are those costs that are not directly related with the production or selling. These…

Q: Direct cost is the cost incurred by the organization while performing their core business activity…

A: Lets understand the basics. Cost are dividend into two parts which are, (1) Direct cost (2) Indirect…

Q: Which of these statement is TRUE for a standard cost system? A) Standard cost systems help managers…

A: Lets understand the basics. Standard cost is a cost which is decide by management to be incurred…

Q: Which of the following is NOT likely an example of support departments in a manufacturing company? O…

A: Support Department - It provides services or assist other internal departments in the company. It is…

Q: What level of importance do product costs play in the business process? what kind of management…

A: Product cost: Cost incurred to produce a product is called product cost. It includes the cost of…

Q: Which of the following is NOT correct about cost center and cost unit? Select one: a. A cost center…

A: Cost accounting is referred to as a branch of accounting that is related to the calculation of total…

Q: Cost accounting is an area of accounting concerned with cost determination, cost control and cost…

A: solution : Cost accounting is an area of accounting concerned with cost determination, cost control…

Q: What is the most important purpose of the cost of production report

A: Given: The importance and use of cost of production report.

Q: Compare management accounting with financial accounting Understand the important roles and…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: The most sector needs the cost accounting information is Select one: a. Manufacturing sector b. Bank…

A: Cost accounting information includes the information related to: Total Cost of producing the…

Q: For each of the following support departments, identify a cost driver that could be used for…

A: A cost driver seems to be the source of a cost that has an impact on the overall cost. For instance,…

Q: Systems Concepts, Traditional versus Activity-Based Cost Accounting Systems The following items are…

A: Activity-based costing represents the costing method that assigned the cost to each activity based…

Q: Which of the following is referred to as the second stage of cost allocation? O The allocation of…

A: Cost allocation is the assigning and allocating the cost to the specific objects, departments,…

Q: Management accounting is a subset of cost accounting. Cost accounting is a subset of both management…

A: Accounting is the process in which transactions are recorded, summarised, posted and then the result…

Q: Which of the following is not an objective of product costing systems? a. To assist in the…

A: Product costing refers to the total amount of total costs allocated to a specific product on the…

Q: Which of the following is correct? * . O The direct cost of a particular department is always a…

A: Responsibility accounting system means that where one manager is given the whole responsibility of…

Q: Shipping, selling, marketing, sales order processing, return processing, and advertising activities…

A: Shipping, selling, marketing and advertising activities are indirect cost to the product or the…

Q: Which of the following would be a service department for a furniture manufacturer?     A. Assembly…

A: A manufacturing firm may have different segments or departments performing different functions. Some…

Q: Discuss the role of cost accounting in relation to various department in organisation.

A: Introduction: Cost accounting is a form of managerial accounting that aims to capture a company's…

Q: A department is a subdivision of a business that specializes in performing a major function such as…

A: Business can be dividend into three types. Service business Manufacturing business Retail business…

Q: Which of the following is the main objectives of cost accounting? a. Maintenance of machinery b.…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

Q: Which one of the following is not an example of a support department? Select one: a. Human resources…

A: The income statement of the company will be prepared, and maintained by the management which will…

Q: What is the primary goal of the cost-of-production report? What is the purpose of these reports in…

A: Cost-of-production report is a statement which shows all the production related costs within a…

Q: True or False. Assembly department is an example of a production department because it IS in charge…

A: In manufacturing companies, there various types of departments for production of manufacturing units…

Q: Production or operation is the activity of creating products and services. Operational manager is…

A: Production or operation is the activity of creating products and services. An operational manager is…

Q: Help question 6

A: Activities that are performed each time a unit is produced is called Unit level activities. The cost…

Q: The term Supply Chain Management refers to: Designing a product Designing, producing and delivering…

A: Supply chain management refers to the flow of goods right from procuring the raw materials to…

Q: Why is the concept of Equivalent Units central in the measurement of the performance of a divisional…

A: Process costing represents the costing method that represents the different stages of the production…

Q: The entity's management is currently reviewing all costs of production. • If the entity's accounting…

A: Cost of production: It is the cost incurred in producing the goods or providing the services. These…

Q: A responsibility center in which the department manager has responsibility for and authority over…

A: Costs might be traced to manufacturing and to specific locations within a business entity and…