Discuss the importance of analyzing operating expense categories such as repairs and maintenance, advertising, and research and development.

Q: Discuss the difference between revenue and capital expenditures using examples as the concepts might…

A: Revenue Expenditure (RE) is recorded in the income statement to arrive at net income for the period.…

Q: Explain how the firm repair service effort impact customer satisfaction.

A: A measurement which indicates the level at which customer receives highest utility with the product…

Q: Explain the difference in the accounting treatment of the cost of developed technology and the cost…

A: Developed Technology relates to those projects that have reached technological feasibility.…

Q: Requirements: fill up the question marks and find out the cost of goods manufactured.

A: Cost of goods manufactured can be defined as the total cost being accumulated over the goods beings…

Q: Give detail definition on operational cost and explain in detail how the operational cost is…

A: Introduction:- The following definition of operational cost as follows under:- Operating costs are…

Q: Explain why an organization should buy or lease when purchasing equipment.

A: Leasing involves the two parties, a lessee and lessor ,Whereas purchasing involves a buyer and…

Q: We recognize service revenue either at one point in time or over a period of time. Explain the…

A: Revenue recognition principle: The revenue recognition principle refers to the revenue that should…

Q: define current asset and explain the particularity of an operating cycle

A: Solution:- a)Explanation of current assets as follows:- 1)Definition:- Current assets means assets…

Q: Suggest a reasonable basis for allocating thefollowing indirect expenses to departments: advertising

A: An indirect cost is the cost which is indirectly involved in the process of production.

Q: Explain whether the production manager should be held accountable for each allocated cost as…

A: The performance of a manager should be evaluated using controllable costs only. All the other costs…

Q: Based on the information in the screenshot for CASE I, what value should equipment be recorded at,…

A:

Q: 6. Which of the following is a value-added activity? Group of answer choices Engineering design.…

A: Value-added activities are those activity that helps to enhance the quality of product or services.

Q: Give an example of a common resource in an organization. List some of the opportunity costs…

A: Opportunity cost: Opportunity cost refers to the forgone revenue that could have been generated…

Q: In accordance with IAS 2 Inventories define the terms "inventories" and "net realisable value”.…

A: Inventories as the name states is one the asset to the company or any business which comes under the…

Q: Research and development activities may include (a) personnel costs, (b) materials and equipment…

A: Research and development cost: These are the cost that is incurred on the research for producing the…

Q: How cost accounting is useful for external user as Government ,and customer etc.support your answer…

A: Cost accounting system is a framework that guides the firm to calculate their cost and helps in…

Q: Discuss the characteristics and costs of useful information. What makes information useful and what…

A: Accounting information is broad in nature and should be structured to meet the information needs of…

Q: Distinguish between measuring assets based on current cost and historical cost.

A:

Q: .For external reporting purposes, the amount of inventoriable costs must be: our answer . For…

A: Inventoriable Cost: Inventoriable costs are those costs which are directly associated with the…

Q: Explain term Renovation and Refinancing with example?

A: A renovation loan is a type of loan that includes the amount of mortgage as well as the amount of…

Q: Service costing is a costing method used to compute the costs of services rendered. Provide the most…

A: Foe hotel industry: Service costing is an effective tool in respect of hotel industry which run on…

Q: Explain the purpose and construction of a statement of functional expenses.

A: Financial Statement:   It refers to the financial records of an organization that reports their…

Q: Prepare the statement of the cost of goods manufactured and sold in good form.

A: Work in progress means where the raw material has enter in to phase of production but still finished…

Q: Describe the accounting treatment for costs subsequent to acquisition.

A: Costs subsequent to acquisition: It refers to those additional expenditures which are related to the…

Q: Explain briefly how with examples

A: Environmental accounting: It is the process of reporting the usage of natural resources available in…

Q: Explain the accounting treatment required when a change is made to the estimated service life of…

A: .

Q: describe general principles of expense recognition, specifi c expense recognition applications, and…

A: Expenses mean a decrease in economic benefits. Expenses are nothing but those transactions resulting…

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: Is Historical Cost measurement concept is still relevant to account for majority of the company…

A: Historical Cost Measurement Concept  In this concept valuation of the cost of an assets which are…

Q: Describe accounting and presentation for research and development and similar costs.

A: Definition:   Research and development cost: These are the cost that is incurred on the research…

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: 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: Understand property, plant, and equipment and its related costs.

A: Business have several assets such as cash, inventories, accounts receivables, investments, PPEs…

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

A:

Q: invoice. Using the historical-cost principle, at which amount will Foster report the equipment on…

A: Historical cost principle: The historical cost principle is one of the basic principles of…

Q: How to assess the performance of asset liability management?  Tips: using the simulated data and the…

A: Asset/liability management is a process defined as paying off debts on assets and cash flows, and…

Q: When preparing cost estimates for account analysis purposes, should the costs be extracted from the…

A: Cost estimation is essential for every company to help managers in relevant decision-making. Cost…

Q: Explain the ethical considerations to be taken care of while maintaining cost records.

A: Ethics of professional accountant:   This is a set of principles that an accountant follow 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: Write a note on planning and code of ethics of Cost Auditor.

A: Auditing refers to the art of inspecting and investigating financial accounts of a company. It is…

Q: Describe the following terms:  Bid Security, Performance Security, Debatable Agency, Salvage Value,…

A: Bid security and performance security go hand-in-hand. These terms are usually used in the…

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.