Explain how environmental costs can be measured and reduced.

Q: analysis? What are identified as possible risks associated with cost

A: Definition: A technique for calculating the costs related to a business prospect or proposal, as…

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: Describe two potential problems that should be avoided in relevant-cost analysis.

A: Relevant cost are the cost that are linked to specific business decisions. They are a part of…

Q: the amount of relevant costs that would be saved

A: Relevant costs mean the variable costs that affect the decision making.

Q: Define value engineering. How is it used to control costs?

A: Value engineering also called value analysis refers to the process of increasing quality of the…

Q: Define Cost effectiveness.

A: Cost effectiveness refers to the examination of both cost and health outcomes of different course of…

Q: What is activity base cost management?

A: Activity-based costing commonly referred to as ABC is a part of cost accounting. Cost accounting is…

Q: Discuss the disadvantages of activity-based costing.

A: Activity Based Costing: The approach of activity based costing keeps the record of resources usage…

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: For the reader's advantage, provide a cost-benefit analysis of the project. How can the value of a…

A: An analysis is a systematic procedure used by businesses to determine which decisions to make and…

Q: Describe why base measurement on historical costs?

A: Definition: Historical cost: Historical cost explains that assets and liabilities appear in the…

Q: Discuss the disadvantages of Absorption Costing for cost control and performance evaluation.

A: Absorption Costing: Absorption costing is a method for calculating the full cost or total cost of a…

Q: What are the two approaches that can be used to adjust for flotation costs?

A: The cost which is arises while issue new stock or shares in the market is commonly known as floating…

Q: Define the term avoidable cost.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Define conversion costs?

A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

Q: Why base measurement on historical costs?

A: Historical cost:   Historical cost explains that assets and liabilities appear in the financial…

Q: Define Cost recovery method

A: Cost recovery is a method in accounting wherein a business only records the revenue it earns from a…

Q: purposes of environmental cost

A: Answer: Environmental cost is the costing system which controls the cost which is related to…

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 major reasons for allocating costs.

A: The entity allocates its cost by using a different measure. The cost that is allocated is common and…

Q: How do strategic factors affect the proper use of relevant cost analysis?

A: Relevant cost analysis is the process of identifying the incremental cost and benefits of deciding…

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: Why is it important to establish appropriate cost pools?

A: Activity cost pools are used in activity based costing which attempts to absorb overheads in a more…

Q: Critically evaluate the concept and application of marginal costing

A: Marginal Costing :— Marginal Costing is the Part of Cost management Techniques.  Marginal Costing…

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: What is the future of activity based costing

A: Activity based costing (ABC) is the method of modern costing technique. This is the technique in…

Q: Explain the Role of life cycle costing in improving organisational performance

A: Life cycle costing: It refers to the lifetime costs that is incurred on an item or an asset over its…

Q: Define conversion costs with an example?

A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

Q: conclusion of environmental cost and benefit

A: Answer: Environment cost is defined as the management of cost related to environment.

Q: Explain the difference between resource spending and resource usage.

A: Resources: Resources are the economic elements that enable people to carry out activities. A…

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: 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: Explain an example of value added cost.

A: value-added costs: A value-added costs  add to the desirability of the product or services in the…

Q: what are the advantages and disadvantages of ABC costing

A:

Q: Define cost of natural resources.

A: Timber, Mineral deposits, oil reserves, and other various natural resources are considered assets…

Q: A determination of cost savings is most likely to be an objective of a

A: The answer is as fallows

Q: Explain cost benefit analysis in detail. Describe the evaluation techniques of cost benefits.

A: The company's motive will be to increase the profitability. The profitability of the company can be…

Q: Explain the strategic role of cost estimation.

A: Cost estimation: Cost estimation is a technique that assist the management for taking strategic…

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.