Define the following types of environmental costs: private, social, visible, hidden, monitoring, abatement, and both on-site and off-site remediation.
Q: Explain the Costs of Defending Intangible Rights.
A: Intangible assets are the assets that cannot be seen physically, but its' presence in business have…
Q: the significance of protecting the environment.
A: Introduction: A healthy lifestyle necessitates a clean atmosphere. The more we disregard the…
Q: Define Restoration costs.
A: Restoration means the act of renewing or repairing something.
Q: Identify the various costs included in the initial cost of property, plant, and equipment, natural…
A:
Q: What are the benefits and costs of renovation?
A: Introduction: Renovation is the improvement process in which upgrades and repair of the property are…
Q: Explain the following terms: practical capacity, cost of resources supplied, cost of resources used,…
A: Resource: It refers to a supply that can be used for producing the benefits or by making use of…
Q: Explain the Role of environmental costing in improving organisational performance
A: Environmental Costing is an important tool for understanding the role played by the Natural…
Q: Classify each of the following costs as either a research expense or as an intangible asset.…
A: In the given question we have asked to classify the above cost which are as below.
Q: An explanation of the overall operations of a fulfilment centre?
A: A fulfilment center is a third-party service provider who processes and sends items ordered by your…
Q: What is the process of allocating the cost of natural resources to expense as they are used?
A: Natural resources usually include oil reserves, coal deposits, and mineral deposits. The natural…
Q: Explain what a sunk cost is, what an opportunity cost is, and how each cost should be handled when…
A: The question is based on the concept of cost analysis.
Q: Which of the following would be an acceptable measure of activity for a material handling activity…
A: For a material handling activity cost pool, number of material moves and weight of materials moved…
Q: What is the difference between full environmental costing and full private costing system in…
A: Environmental management accounting is a method for corporate entities to gather information for the…
Q: Which factors contribute to the social and environmental performance ofbuildings?
A: Answer: Social factors contributing performance of buildings: Psychological and physical comfort,…
Q: Given the building layout for St C, and Store D, what portion c security costs should be appor
A: When the a person meant of cost is done then the distribution of cost items in proportion to the…
Q: Which element of the value chain would depreciation on a factory be classified as? Design…
A: Depreciation on factory would be classified as production
Q: Characterize the relative difficulty in valuing a real benefit of a natural resource.
A: Definition : In simple words, Natural resources can be understood as the properties that occur…
Q: Discuss the fundamental risk and control issues associated with fixed assets that are different from…
A: Fixed Asset: The asset used by company for more than one year is known as fixed asset. Fixed asset…
Q: purposes of environmental cost
A: Answer: Environmental cost is the costing system which controls the cost which is related to…
Q: For situations 1 trough 6, provide the following information: a. An estimate of the non-value-added…
A: Since you have posted a question with multiple sub parts, we will solve the first 3 sub parts for…
Q: Explain briefly how with examples
A: Environmental accounting: It is the process of reporting the usage of natural resources available in…
Q: What is important for a MACRS to consider at the time of disposal?
A: MACRS stands for Modified Accelerated Cost Recovery System. These are the regulations of…
Q: Show how the profit motive can encourage resource conservation.
A: Profit Motive means the intention to generate a monetary gain in transactions, material endeavors,…
Q: Identify events that might lead to disposal of a plant asset.
A: An asset is a resource owned by an enterprise and which can generate values in the future. Assets…
Q: Define standard costs and briefly indicate how they may beused by management in planning and…
A: Standard costs: Standard costs are the per-unit cost that is expected to be incurred under normal…
Q: are measures of activities that require the use of resources and thereby cause costs Value Chain…
A: Solution: Cost drivers are measure of activities that requires the use of resources and thereby…
Q: How could a company manager use a process cost summary to determine if a program to reduce water…
A:
Q: Explain the ethical considerations to be taken care of, while maintaining costing records.
A: Cost accountants are responsible for all internal accounting data within a company. These people are…
Q: Discuss the role of Flow Cost Accounting in Environmental Cost Management. Cite examples if…
A: Flow cost accounting: Flow cost accounting is one of the environmental cost management tools that…
Q: assess if task costing or process costing would be a more suitable method of accounting. • *An…
A: solution : concepts involved task costing Task costing is a method of costing where…
Q: Write the definition, recognition, measurement and derecognition of AGRICULTURE.
A: Just like any other business activities, the agriculture business also needs accounting and requires…
Q: Explain the concept of cost allocation as it pertains to property, plant, and equipment and…
A: Property, Plant & Equipment (PPE) includes the following assets namely: Land Plant and Building…
Q: conclusion of environmental cost and benefit
A: Answer: Environment cost is defined as the management of cost related to environment.
Q: Understand property, plant, and equipment and its related costs.
A: Business have several assets such as cash, inventories, accounts receivables, investments, PPEs…
Q: Environmental remediation a
A: in environmental remediation If there's no legal burden or demand in-tuned the remedy prices,…
Q: Identify and discuss the factors that affect the focus and practice of cost management.
A: The practice of managing and organizing the expenses associated with running a firm is known as cost…
Q: Discuss the role of Flow Cost Accounting in Environmental Cost Management. Cite examples if…
A: Material flow cost accounting is a standardized technique used by organizations to boost their…
Q: Describe the Costs of Defending Intangible Rights.
A: Introduction Intangible assets are the assets that cannot be seen physically, but its' presence in…
Q: Prioritize the types offactory building based on the NPV and IRR, in order to make a profitable…
A: Capital budgeting indicates the evaluation of the profitability of possible investments and projects…
Q: Define research and development and what are its representative cost driver?
A: Cost drivers: It refers to the object or things which affect the costs of a business. For example,…
Q: Define cost of natural resources.
A: Timber, Mineral deposits, oil reserves, and other various natural resources are considered assets…
Q: Give example each of the types of costs that will be incurred under the following Equipment and…
A: Equipment refers to the resources that are used in business for production or in providing services…
Q: importance of caring for the environment
A: A clean environment is essential for healthy living.The more we do not care about environment , the…
Q: Explain how environmental costs can be measured and reduced.
A: How to reduce the environmental costs:- 1) Adopt a sustainable business strategy :- Business…
Q: What is GRI Standard used for? Explain how GRI standards help in sustainability reporting
A: The GRI Standards provide a standard vocabulary for businesses of all sizes – public and private –…
Q: Classify the different costs as unit, batch, product, or facility. Answers (unit, batch, product, or…
A: The cost which is incurred whenever a product is produced and service is performed refer to the unit…
Define the following types of environmental costs: private, social, visible, hidden, monitoring, abatement, and both on-site and off-site remediation.
Step by step
Solved in 2 steps
- Environmental costs are those costs incurred because poor environmental quality exists or may exist. As with quality costs, environmental costs can be placed into one of four categories. One of these categories is external failure costs. Which of the following describes one of the two external failure cost categories? a. Costs incurred to detect pollution caused by the firm b. Costs incurred to prevent pollution from contaminating the environment after pollution has been produced c. Pollution costs caused by the firm but paid for by society d. Costs incurred to prevent the production of pollutionThe following items are listed in an environmental financial statement (issued as part of an environmental progress report): Environmental benefits (savings, income, and cost avoidance): Ozone-depleting substances cost reductions Hazardous waste disposal cost reductions Hazardous waste material cost reductions Nonhazardous waste disposal cost reductions Nonhazardous waste material cost reductions Recycling income Energy conservation cost savings Packaging cost reductions Environmental costs: Corporate-level administrative costs Auditor fees Environmental engineering Facility professionals and programs Packaging professionals and programs for packaging reductions Pollution controls: Operations and maintenance Pollution controls: Depreciation Attorney fees for cleanup claims, and notices of violations (NOVs) Settlements of government claims Waste disposal Environmental taxes for packaging Remediation/cleanup: On-site Remediation/cleanup: Off-site Required: 1. Classify each item in the statement as prevention, detection, internal failure, or external failure. In classifying the items listed in the environmental benefits category, first classify the underlying cost item (e.g., the cost of hazardous waste disposal). Next, think of how you would classify the cost of the activities that led to the cost reduction. That is, how would you classify the macro activity: reducing hazardous waste cost disposal? 2. Assuming ecoefficiency, what relationship over time would you expect to observe between the environmental benefits category and the environmental costs category?For the following descriptions state whether the cost is controllable or uncontrollable by responsibility center managers. A. property tax of an existing manufacturing facility B. research and development of a product C. advertising of a product D. insurance cost of the existing manufacturing facility E. design of a product
- The following items are listed in an environmental financial statement (issued as part of an environmental progress report): Environmental benefits (savings, income, and cost avoidance): Ozone-depleting substances cost reductions Hazardous waste disposal cost reductions Hazardous waste material cost reductions Nonhazardous waste disposal cost reductions Nonhazardous waste material cost reductions Recycling income Energy conservation cost savings Packaging cost reductions Environmental costs: Corporate-level administrative costs Auditor fees Environmental engineering Facility professionals and programs Packaging professionals and programs for packaging reductions Pollution controls: Operations and maintenance Pollution controls: Depreciation Attorney fees for cleanup claims, and notices of violations (NOVs) Settlements of government claims Waste disposal Environmental taxes for packaging Remediation/Cleanup: On-site Remediation/Cleanup: Off-site In the environmental benefits section…The following items are listed in an environmental financial statement (issued as part of an environmental progress report): Environmental benefits (savings, income, and cost avoidance): Ozone-depleting substances cost reductions Hazardous waste disposal cost reductions Hazardous waste material cost reductions Nonhazardous waste disposal cost reductions Nonhazardous waste material cost reductions Recycling income Energy conservation cost savings Packaging cost reductions Environmental costs: Corporate-level administrative costs Auditor fees Environmental engineering Facility professionals and programs Packaging professionals and programs for packaging reductions Pollution controls: Operations and maintenance Pollution controls: Depreciation Attorney fees for cleanup claims, and notices of violations (NOVs) Settlements of government claims Waste disposal Environmental taxes for packaging Remediation/Cleanup: On-site Remediation/Cleanup: Off-site 1. Classify each item in the…Which of the following is not a prevention cost? a. testing finished products b. design engineering c. operator training d. preventive maintenance
- Environmental Financial Reporting, Ecoefficiency, Improving Environmental Performance The following items are listed in an environmental financial statement (issued as part of an environmental progress report): Environmental benefits (savings, income, and cost avoidance): Ozone-depleting substances cost reductions Hazardous waste disposal cost reductions Hazardous waste material cost reductions Nonhazardous waste disposal cost reductions Nonhazardous waste material cost reductions Recycling income Energy conservation cost savings Packaging cost reductions Environmental costs: Corporate-level administrative costs Auditor fees Environmental engineering Facility professionals and programs Packaging professionals and programs for packaging reductions Pollution controls: Operations and maintenance Pollution controls: Depreciation Attorney fees for cleanup claims, and notices of violations (NOVs) Settlements of government claims Waste disposal Environmental taxes for packaging…Environmental Financial Reporting, Ecoefficiency, Improving Environmental Performance The following items are listed in an environmental financial statement (issued as part of an environmental progress report): Environmental benefits (savings, income, and cost avoidance): Ozone-depleting substances cost reductions Hazardous waste disposal cost reductions Hazardous waste material cost reductions Nonhazardous waste disposal cost reductions Nonhazardous waste material cost reductions Recycling income Energy conservation cost savings Packaging cost reductions Environmental costs: Corporate-level administrative costs Auditor fees Environmental engineering Facility professionals and programs Packaging professionals and programs for packaging reductions Pollution controls: Operations and maintenance Pollution controls: Depreciation Attorney fees for cleanup claims, and notices of violations (NOVs) Settlements of government claims Waste disposal Environmental taxes for packaging…Environmental Financial Reporting, Ecoefficiency, Improving Environmental Performance The following items are listed in an environmental financial statement (issued as part of an environmental progress report): Environmental benefits (savings, income, and cost avoidance): Ozone-depleting substances cost reductions Hazardous waste disposal cost reductions Hazardous waste material cost reductions Nonhazardous waste disposal cost reductions Nonhazardous waste material cost reductions Recycling income Energy conservation cost savings Packaging cost reductions Environmental costs: Corporate-level administrative costs Auditor fees Environmental engineering Facility professionals and programs Packaging professionals and programs for packaging reductions Pollution controls: Operations and maintenance Pollution controls: Depreciation Attorney fees for cleanup claims, and notices of violations (NOVs) Settlements of government claims Waste disposal Environmental taxes for packaging…
