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

Q: Search about how technique is efficient Analysis at the account level to estimate cost.

A: technique is efficient Analysis at the account level to estimate cost.

Q: he management wants to know about the cost behaviour and how to classify the cost according to its…

A: Cost behaviour refers to an aspect which helps in indicating the change incurred in costs when there…

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 the Problems in Cost Accounting Measurements?

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Q: Please explain with examples briefly benefits of accounting system for automated cost accounting?

A: Cost accounting: It is a form of managerial accounting which focuses on calculation of company's…

Q: Cost management information should be timely and accurate. Which of these attributes is…

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Q: Differentiate between Cost audit and Financial audit.

A: An auditing is a process where the auditor examines or inspects various books of accounts, followed…

Q: Describe an important cost-benefit issue involving accuracy versus timeliness in accounting for…

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Q: Distinguish between customer-response time and manufacturing cycle time.

A: Customer response time: Customer response time is the time lag between the receipt of an order and…

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: management consider in determining the amount of onvestment in ma

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Q: Discuss the importance to the cost accounting departmen

A: Cost Accounting System: Cost accounting system can be defined as a framework designed by the…

Q: Identify  the compliance and/or regulatory issues influencing the  the cost of the products made.…

A: Government and regulatory issues can have a variety of effects on the cost of numerous goods and…

Q: Explain whether the cost accounting system primarily supports internal or external reporting.

A: Cost Accounting System: Cost accounting system refers to as a framework designed by the company to…

Q: What is the most important purpose of the cost of production report

A: Given: The importance and use of cost of production report.

Q: Describe the concept of management by exception and explain how standard costs help managers apply…

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Q: Explain the use of costing method in the preparation of production cost report.

A: Cost:   It is an economic value incurred by the business to produce a product or to render a…

Q: Prepare a cost of quality report. Round

A: Quality is not always worth it, especially if it comes at very high cost or with excess buying…

Q: Explain briefly how with examples

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

Q: Think about a service you have been involved with and describe how job-costing might be implemented…

A: Job costing includes tracing direct expenses related to each job and allocating overhead expenses on…

Q: Describe ways the production cost report can be used by management.

A: Production Cost Report: A report which gives information about the total units produced and total…

Q: What is the most significant function of a cost of production report, and why is it important? What…

A: The significance and use of a cost of production report:

Q: Define standard costs and briefly indicate how they may beused by management in planning and…

A: Standard costs: Standard costs are the per-unit cost that is expected to be incurred under normal…

Q: How standard costing control the business activity

A: Standard Costing is the technique of setting up standard costs and applying them to measure the…

Q: What documents are needed for cost accounting clerks to update the work-in-process accounts with…

A: Cost Accounting System:  Cost accounting system can be defined as a framework designed by the…

Q: Under what conditions would it be appropriate to use a process costing system?

A: Process Costing: Process Costing is refer as method of costing in which all the cost which are…

Q: Define standard costs and explain how they assist managers in controlling costs.

A: standard cost: Standard cost is an estimated or predetermined cost based upon existing conditions.…

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: What types of management reports are prepared by the cost accounting system?

A: Definition: Cost accounting systems: It is a system which measures, record, and reports the product…

Q: What are the essential factors for installing a cost accounting system? Explain

A: A cost accounting system is a system of…

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: How are cost of production reports used for controlling and improving operations?

A: Production cost report: A production cost report is a comprehensive report prepared for each…

Q: What is the proper order of tasks in an ABC system?   a.identify the cost pools, identify the cost…

A: Under ABC costing, the overhead is applied to production one the basis of different activities being…

Q: Which of the following is the main objectives of cost accounting? a. Maintenance of machinery b.…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

Q: Distinguish between the qualities and aims of cost accounting, as well as between the nature and…

A: The question deals with the qualities and aims of cost accounting, as well as between the nature and…

Q: "Quality Assurance?" in the Procurement of Items and services Write a short report on

A: Quality assurance is described as a "component of quality control focusing on providing certainty…

Q: Explain techniques for estimating task completion times and costs

A: Two key features of a project are on- time and on- budget delivery.The project manager can only…

Q: Evaluate this using the principles of management and cost accounting.

A: Principles of Management and Cost Accounting The basic principles which are evolved in the…