'direct costs'
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- 21. The activity method of depreciation A) conceptually associates cost in terms of input measures. B) is a variable charge approach. C) assumes that depreciation is a function of the passage of time. D) all of these answers are correct.18/Which of the following used as a measure of the quantity of resource consumed by an activity? a. Cost driver b. Activity cost driver c. All of these d. Resource cost driverIs Historical Cost measurement concept is still relevant to account for majority of the company assets in this current environment? Support with THREE (3) reasons and illustrate with examples.
- 5. Which of the following costs should be excluded from research and development expense? a. Modification of the design of a product b. Acquisition of R & D equipment for use on a current project only c. Cost of marketing research for a new product d. Engineering activity required to advance the design of a product to the manufacturing stageResearch and development activities may include (a) personnel costs, (b) materials and equipment costs, and (c) indirect costs. What is the recommended accounting treatment for these three types of R&D costs?Question no 3 What is avoidable and unavoidable cost? In terms of decision making how do we treat the following components and why: a.Depreciation of the equipment b.Resale value of the equipment and c.Allocated common fixed cost
- 5. Which of the following is an element of cost? a. Cost of employee benefits not directly associated with the acquisition of PPE b. Initial estimate of the cost of dismantling and removing the item and restoring the site on which it is located, the obligation of which an entity incurs. c. Advertising and promotion d. initial operating losses e. Refundable purchase taxes18. Classifying a cost as either direct or indirect depends upon: whether the cost can be easily identified with the cost object the behavior of the cost in response to volume changes whether the cost is expensed in the period in which it is incurred whether an expenditure is avoidable or not in the futureAssume that the capital expenditures to replace and upgrade the production equipment areas given in the original exercise, but that the production and sales quantity is not known. Forwhat production and sales quantity would SS (i) upgrade the equipment or (ii) replace the equipment?
- Which among the following alternative methods of costing is related to the best use of physical asset at the lowest cost of entity? a. Absorption Costing b. Life Cycle Costing c. Activity Based Costing d. Target Costing The objective function is expressed in terms of: a. Symbols b. Numbers c. Special characters d. Decision variablesFor 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 productMFRS 138: Intangible Assets prescribes that research and development (R&D) costs should comprise all costs that are directly attributable to R&D activities, or that can be allocated on a reasonable basis, to such activities. Explain FOUR (4) costs of R&D activities.
