bject:cost account

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: Q1       discuss in detail Cost Accounting, Objectives of Cost Accounting, Essentials of a good…

A: Cost accounting is branch of management accounting in which all costs related with the products like…

Q: Required: a) Compute prime cost, manufacturing cost and cost of goods manufactured. b) Compute cost…

A: Prime costs is the cost of raw materials used and direct labour costs. Manufacturing costs includes…

Q: Give suitable explanation on (i) Cost; (ii) Cost Objects; (iii) Cost Driver Discuss the different…

A: (a) Cost : The amount of expenditure incurred on or attributable to a specified article, product or…

Q: What is the standard cost income statement?

A:

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: Q1 What process is used to assign costs in an ABC system? Provide numerical example. Q2 How is…

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

Q: The term relevant range in cost accounting means the range over which a. Cost may fluctuate. b. Cost…

A: Cost accounting is that branch of accounting in which all costs incurred on manufacturing and…

Q: Give an example of cost which is a part of unavoidable cost.

A: Unavoidable costs are costs which cannot be avoided by discontinuing a product line or which cannot…

Q: Define cost of goods sold.

A: Cost:   It refers to the sum total of economic value to get an asset in place and ready for use.

Q: What is Cost account payable

A: All variable costs are reduced from sales revenue to get at a contribution margin, from which all…

Q: Describe the account analysis method for estimating a cost function.

A: Definition:   Account Analysis Method: The account analysis method of estimating a cost function…

Q: Question 1: Differentiate between standard cost and estimated cost.

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

Q: e the cost of goods manufactured:

A: Direct Material used   $          120 Direct Labour  $          200 Manufacturing…

Q: Discuss relevant cost.

A: Relevant cost term is used in making decision whether to buy or not.Whether to produce a goods or…

Q: What type of cost is included in economic costs, but not included in accounting costs?a. Explicit…

A: Economic costs are the costs in which consideration is given to opportunity costs as well.

Q: How you relate the differential cost with management of revenue in management accounting.

A: Management Accounting is a type of accounting which is used within the company for the purpose of…

Q: a) Why are neutral expenes eliminated and imputed cost added to derivee cost from expenses

A: Deriving the cost from expenses is necessary to ascertain the exact cost incurred and to…

Q: Distinguish between indirect costs and direct costs.

A: Direct Costs and Indirect Costs are two important costs. Direct costs are those costs which are…

Q: The product cost  period cost  opertunity cost

A: Solution:- 1)Calculation of product cost as follows under:- Product cost means costs incurred to…

Q: Describe how changes in the demand, ordering cost,or holding cost affect the EOQ.

A: Conceptual base- Economic Order Quantity (EOQ) is the order quantity that minimizes total inventory…

Q: Briefly define total cost and marginal cost.

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

Q: A transfer of a particular cost from one cost to another

A: Yes, We can transfer of a particular cost from one cost to another.

Q: Can you label revenue, loss, total costs, dollars, variable cost, and fixed cost on the provided…

A: Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining how any type of…

Q: fit - Expenses = aterials Direct Labor = Manufacturing Costs = Cost of Goods Manufactured : WTD

A: As per rule, allowed to answer one question at a time and post the remaining in the next submission.

Q: A direct cost is one that is a. Variable with respect to the cost object. b. Traceable to the cost…

A: Direct cost: A cost indicates the payment of cash or the obligation to pay the cash in the future…

Q: Identify on which financial statement these costs originally appear. ✓ Period Costs ✓ Product Costs…

A:

Q: Explain the term transferred in costs.

A: Concept of transferred in costs are used in process costing system.  Operations of a company…

Q: Required: (a)Compute prime cost, manufacturing cost and cost of goods manufactured. (b)Compute cost…

A: Prime Cost= Direct Material Cost+ Direct labor Cost Manufacturing Cost= Prime Cost +Manufacturing…

Q: Explain the difference between a direct cost and an indirect cost.

A: Direct Cost: A direct cost is a cost that can directly be associated with a particular department or…

Q: It is referred to as anything for which a separate measurement of costs is desired A. Cost object B.…

A: Cost is the amount spent on anything. Costing is estimating or projecting the Total Cost Cost…

Q: COST ACCOUNTING  PLS SHOW SOLUTION

A: Solution:- 7)Calculation of over-allocated or under-allocated conversion costs for the month as…

Q: Describe accounting concepts useful in classifying costs.

A: Costs of a business can be classified on various basis On the basis of cost behaviour On the basis…

Q: What is cost management, and how does it differ from management accounting and cost accounting?

A: Cost accounting and management accounting are two different forms of accounting, that is being…

Q: Compute cost of goods manufactured.

A: Statement of Cost of Goods Manufactured:   Cost of goods manufactured can be defined as the total…

Q: With respect to cost classifications for preparing financial statements:a. What is the total product…

A: a) Total Product cost is the cost which is incurred to manufacture the product that is intended for…

Q: A 'product' cost is a cost that is classified by:    a. behavior       b. function       c.…

A: The cost incurred on production directly or indirectly related to production is said to be product…

Q: Define the terms Cost Costing Cost Accounting

A: The Question has covered the various Concept related to the costing. The Detailed Explanation of…

Q: (i) A cost that can be traced to a cost object is known as A. A fixed cost B. A variable cost C. A…

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

Q: e category you put cost accounting, inventory management and budgeting?

A: Accounting is called the process of compiling and checking all the transactions of a company in…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.