Explain the differences between relevant cost analysis and strategic cost analysis. No less than 250 words. Follow APA format.
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Explain the differences between relevant cost analysis and strategic cost analysis.
No less than 250 words.
Follow APA format.
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- In 100 words or fewer, explain the main differences and similarities between variable costing and absorption costing.E6-2A High-Low Method Apply the high-low method of cost analysis to the three cost data groups in E6-1A. What cost behavior are apparent? Express each as a cost formula. Volume (applicable to each group) Group A Costs Group B Costs Group C Costs 2,000 $2,600 $1,000 $2,400 12,000 12,600 6,000 2,400 16,000 16,600 8,000 2,400 20,000 20,600 10,000 2,400Cicleta Manufacturing has four activities: receiving materials, assembly, expediting products, and storing goods. Receiving and assembly are necessary activities; expediting and storing goods are unnecessary. The following data pertain to the four activities for the year ending 20x1 (actual price per unit of the activity driver is assumed to be equal to the standard price): Required: 1. Prepare a cost report for the year ending 20x1 that shows value-added costs, non-value-added costs, and total costs for each activity. 2. Explain why expediting products and storing goods are non-value-added activities. 3. What if receiving cost is a step-fixed cost with each step being 1,500 orders whereas assembly cost is a variable cost? What is the implication for reducing the cost of waste for each activity?
- What are the optimal costing system considerations of the firm? Answer in 250 words.Given below is a numbered list of cost terms. For the given definition statement. '_____ costs are not repetitive even though the total expenditure may be cumulative over a relatively short period of time', place the number of the cost term in the blank that makes the statement a correct definition. Each cost term is used only once.Complete the table below by classifying each cost as either a product cost or a period cost; for product costs, further classify as a direct cost or an indirect cost. (Select NA if not applicable.) Cost Amount Productor Period Director Indirect Plastic material and springs for clips $329 select a type of cost Correct answer select a classification Correct answer CEO’s salary 119 select a type of cost Correct answer select a classification Correct answer Advertising 34 select a type of cost Correct answer select a classification…
- The MTN Company has assembled the following data pertaining to certain costs which cannot be easily identified as either fixed or variable. MTN has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation. Cost Hours $100,000 3,500 61,000 2,000 85,000 2,600 78,200 2,450 91,000 3,000 110,400 3,900 106,000 3,740 93,000 3,380 a) Calculate the variable cost per hour b) Calculate the total fixed costs c) Write the equation which measures the cost behavior of the costs d) Calculate the operating costs for 3,750 hours.The MTN Company has assembled the following data pertaining to certain costs which cannot be easily identified as either fixed or variable. MTN has heard about a method of measuring cost functions called the high-low method and has decided to use it in this situation Cost Hours $100,000 3,500 61,o00 2,000 85,000 2,600 78,200 2,450 91,000 3,000 110,400 3,900 106,000 3,740 93,000 3,380 Calculate the variable cost per hour Calculate the total fixed costs Write the equation which measures the cost behavior of the costs Calculate the operating costs for 3,750From the choices presented in parentheses, choose the appropriate termfor completing each of the following sentences:a. A product, sales territory, department, or activity to which costsare traced is called a (direct cost, cost object).b. Advertising costs are usually viewed as (period, product) costs.c. Factory overhead costs combined with direct labor costs arecalled (prime, conversion) costs.d. Feedback is often used to improve, direct) operations.e. A sacrifice made to obtain some benefit is a (cost, expense).f. The balance sheet of a manufacturer would include an accountfor (cost of goods sold, work in process inventory).g. The implementation of automatic, robotic factory equipmentnormally increases, decreases the direct labor component ofproduct costs.
- Which three items must ALWAYS be the same number on a production cost report? Group of answer choices Total column of the “Total costs, month of” row; Total column of the “Total Costs” row in the “Costs” section; and Total column of the “Total Costs” row in the “Cost Reconciliation” section. Total units in production, Total units under the “physical units” column, and Total units under the “materials – equivalent units” column. Unit costs for materials, labor, and manufacturing overhead. Ending WIP inventory amounts for materials, conversion costs, and total costs.Given below is a numbered list of cost terms. For the given definition statement. '_____ costs are those which are unaffected by changes in activity level over a feasible range of operations for the capacity available.', place the number of the cost term in the blank that makes the statement a correct definition. Each cost term is used only once.Cost of the three alternative methods are stated below: A-Manual: Total fixed cost PM=3,000Variable cost per unit=48 B-Semi-Automatic:Total fixed cost PM=9,000Variable cost per unit=28 C-Fully automatic:Total fixed cost PM=25,000Variable cost per unit=8 Identify the cost indifference point.