Define the Cost Pool, Cost Object and Cost Driver. Please help me I really need the answer, clear explanation please, thank you!

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: Product Cost from Period Cost. Please help me I really need the answer, clear explanation please,…

A: The cost function is a function that is used to show how production expense will change at different…

Q: What are the different type of costs? Describe each.

A: In cost accounting, The accounting process deals with the total costs incurred in the production…

Q: Define the meaning of cost. Please help me I really need the answer, clear explanation please, thank…

A: Cost: It refers to the monetary expenditure that a firm must incur in order to purchase or hire the…

Q: What is the difference between whole units to be accounted for and whole units to be assigned costs?…

A: Difference between whole units to be accounted for and whole units to be assigned costs The whole…

Q: Give me an example How Efficient are Graphic Techniques - Scatter Charts for Estimating Costs?

A: Meaning of Scatter Graph Method Scatter graph method is a graphical technique of separating fixed…

Q: Standard costing improves the control functions” discuss this statement give some examples.

A: Standard Costing: It is the accounting system in which standard cost is measured with actual cost to…

Q: how can we use step down cost allocation for ? From service center to mission center

A: Answer

Q: In the Interesting box, write down how each costing method would contribute in achieving the main…

A: First-in First-out method (FIFO) method: It is a method of pricing the issues of materials, in the…

Q: 2) Refining a cost system requires: A) classifying as many costs as indirect costs as is feasible B)…

A: Refining a cost system means making some modifications to simple costing system that includes direct…

Q: rovide another example of a cost center and explain why you choose that example.

A: Cost center is a department or function within an organization that does not directly add to profit…

Q: What are the different types of Costs? (all type of Costs please like direct cost, indirect, fixed,…

A: Cost of a product is the amount incurred in the process of bringing the product to its final state.

Q: What are the different types of cost?

A: Costs refer to any expenditure done by a business or a firm in the process of production of a…

Q: ILLUSTRATE THE VARIOUS COST CLASSIFICATIONS. (PLEASE INCLUDE PHOTOS OR TEXT FOR THE EXPLANATION)…

A: Cost refers to an expenditure incurred by an organization in order to manufacture and selling of…

Q: Describe the conference method for estimating a cost function. What are two advantages of this…

A: Conference method:

Q: Write cost pool, cost driver, activity cost, budgeting.   What are the assumption of CVP analysis?…

A: Answer:  Write cost pool, cost driver, activity cost, budgeting.   Cost Pool is the sum total of…

Q: Using the step method to allocate the service center costs, what is the total cost of programming…

A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…

Q: Compute It can use ABC information for what decisions? a. Cost cutting b. Pricing c. Product mix d.…

A:

Q: Differentiate Prime Cost from Conversion Cost. Can you make a table

A: Dedifferentiation between Prime cost and Conversion cost is given below with table,

Q: Differentiate variable cost from fixed cost. Please help me I really need the answer, clear…

A: Cost accounting is the one that is used to calculate the production cost per unit or in total a…

Q: Differentiate variable cost from fixed cost. Hope you

A: The cost function is a function that is used to show how production expense will change at different…

Q: Please explain step by step how to solve the question for cost allocation by using the double…

A: Cost allocation is the as the name suggests the allocation or in other words, the distribution of…

Q: ost, sunk costs or opportunity costs. Keep in mind that one cost can be fall into different…

A: 1) Predicting cost behavior cost classifications Every company incurred the costs in order to…

Q: Activity-based costing does a better job of allocating

A: Activity-Based costing is a method of allocating overheads to products using activity rates…

Q: Differentiate prime cost from conversion cost.

A: Prime cost as the name suggests the main cost without which production can not be done. It is given…

Q: describe the basic objectives in the use of standard costs.

A: Standard costing indicates the process where the management estimates the required cost is advance…

Q: Explain why it's assumed that the cost-time curve is straight. What is the most practical form to…

A: The project cost/project time tradeoff is a significant addition to the fundamental network analysis…

Q: What is cost? Please explain it and with example please

A: What is cost? Please explain it and with example ?

Q: The cost that is used for the benefit of many cost objects and cannot be easily related to any…

A: Answer is as follows

Q: Define Cost Pool, Cost Object and Cost Driver

A: Cost accounting forms a part of managerial accounting method that is used for measurement of total…

Q: Discuss the Top-to-Bottom and Bottom-to-Top approaches in Cost Estimating. Focus your discussion in…

A: Meaning: Top-to-Bottom approach: Top-to-Bottom approach is also called imposed style cost estimation…

Q: difference between absorption costing and variable costing

A: [Note: Since you have posted multiple questions, we will solve the first question for you. For the…

Q: Discuss the history of ABC method (Use references if you use any) Define the following with…

A: Activity-based costing a method of assigning overheads based on usage of a particular activity. It…

Q: ritically discuss the many different purposes of a standard costing system

A: Standard costing Standard costing compares the standard prices and revenues with the actual results…

Q: What is the purpose of cost allocation in terms of economic decisions, motivation and justifying…

A: INTRODUCTION: Cost allocation is the process of identifying, accumulating, and assigning costs to…

Q: Differentiate Prime Cost from Conversion Cost. Please help me I really need the answer, clear…

A: Answer: Prime costs and conversion costs are relied upon heavily in the manufacturing sector as a…

Q: Explain and discuss your understanding about the full cost-pricing with 3 example of its possible…

A: Cost plus pricing model can be defined as a pricing strategy in which the total cost of the product…

Q: t and explain? thank you! Please include the reference if it'

A: INTRODUCTION  :-  Cost denotes the quantity of cash that a corporation spends on the creation or…

Q: Explain one example of the cost driver.

A: Cost drivers are used in Activity Based Costing. Cost drivers are used to allocate overhead costs to…

Q: Define cost pool, cost object and cost driver and explain. Thank you in advance!

A: Cost pool:  Cost pool is simply the group of cost according to a particular criteria for example…

Q: How to do absorption and marginal costing?

A: The income statement can be prepared using Marginal costing and absorption costing.

Q: Explain an example how to calculate total costs.

A: Total c osts represents overall costs incurred to produce or procure a product.