Determine the reorder point. order point units Determine the economic order quantity.

Q: Prepare a contribution format income statement segmented by product lines.

A: Income statement:-  Income statement is the statement that shows the company a clarity in how much…

Q: Distinguish between Period cost and Product cost? Give two examples of each cos

A: Classification of costs on the basis of functions:- 1. Product Cost 2. Period Cost

Q: It is the collection of cost data in some way through an accounting system O A. Cost allocation B.…

A: Cost accumulation includes the usage of a formal cost accounting structure or system to gather and…

Q: How is the cost of goods sold calculated?

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: Compute(a)the cost of goods purchased and (b) the cost of goods sold

A: Cost of Goods Purchased is the net cost of merchandise acquired. It is that situation when business…

Q: What are the inventory accounts used in JIT costing?

A: JIT (Just-In-Time) inventory system is usually implemented in an organization to reduce the amount…

Q: Explain the term economic order quantity.

A:

Q: hoose the letter of answer  Inventories are usually written down to net realizable value a. Item…

A: Inventory is valued at lower of cost or net realisable value. Net realisable value is computed by…

Q: What is the standard cost income statement?

A:

Q: What are the methods used to determine the cost of goods?

A:

Q: What is Re-order quantity? What is Re-order level? What is Maximum stocklevel? With respect to…

A: Inventory management consist of various levels namely re-order level, re-order quantity, maximum and…

Q: What is the relationship between total carrying cost and totalordering cost at the EOQ?

A: It indicates an inverse relationship between the cost of ordering and the cost of holding at…

Q: How can the amounts shown on the- nancial statements be called historical ?cost amounts

A: Answer A. The correct answer is option (C) When an item was originally obtained whether that…

Q: From the following data find (A) material cost, (B) price cost, (C) direct cost,

A: "Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: inventories at the lower of cost and net realizable value? Added to cost

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

Q: Cost of goods sold is also called cost of sales.

A: Cost of goods sold is the direct cost of producing those goods which are sold by the company during…

Q: Define and explain the concept of cost accounting.

A: Introduction: An essential fee accounting device operates in real-time by monitoring raw materials…

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 the standard cost income statement? Give an example?

A: Meaning of Standard cost income statement:A standard cost is the estimated cost of production based…

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: how to find cost of goods sold

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: What is Cost of Goods Sold (COGS), and where is it reported?

A: Merchandise Business: Merchandise business refers to the business of buying goods from the…

Q: Define the following terms, and explain the relationship between them: (a) cost estimation, (b) cost…

A: Cost:   Cost can be defined as the cash and cash equivalent which is incurred against the products…

Q: Acoording to the information given in the table below, which of the following is Cost of Goods Sold?

A: Cost of goods sold is the production costs incurred on goods sold in a particular accounting period.

Q: che $ cost per unit for the items purchased from THE SUPPLIER is

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

Q: Define basic earning power (BEP) ratio

A: The formula to compute basis earning power ratio as follows:

Q: Explain why the economic order quantity is the intersection of the ordering-cost curve and the…

A:

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: Weighted average method

A: Correct answer :- A :- Weighted average method.

Q: Describe how costs flow from inventory to cost of goods sold for the following methods: (a) FIFO and…

A: a.

Q: In a half page, What are stock out costs and capacity associated costs? What is their relationship…

A: Stockout Costs: A Cost which will arise on shortage of Inventories during the production,  It will…

Q: How do you calculate costs of goods sold?

A:

Q: How to prepare income statement using absorption costing?

A: Absorption costing considers the fixed overhead costs for production as per the units sold and not…

Q: Describe and compare the cost flow assumptions used to account for inventories.

A:

Q: i.) Determine the cost of goods sold using each of the following flow assumptions:

A:

Q: Define “cost” as applied to the valuation of inventories.

A:

Q: The purpose of costing are as follows EXCEPT:   Price products Make decisions record cost Formulate…

A: The purpose of costing  1. To fix the price of the product 2.  For decision making  3.  For…

Q: Define Cost of goods sold at normal and Cost of goods sold at actual.

A: Following is the answer to given question

Q: What is the role of Cost Accounting in Price Determination ?

A: The primary difference between fixed as well as variable costs is made in cost accounting.…

Q: into production, and ed and transferred as inventory on May conversion cost in the CC

A: Equivalent units of products concept came in to existence when some units are not fully completed at…

Q: ases? or only in t

A: The explanation is given below ,

Q: Explain the features of cost accounting.

A: Cost accounting is a branch of accounting in which all the costs involved in manufacturing of a…

Q: Distinguish between product costs and period costs asthey relate to inventory.

A: