Joint costs are inseparable after the split-off point. True False

Q: Which of the following is correct? The break-even point occurs when: Select one: a. total variable…

A: Break even point is the point where the production level at which the production costs equal to the…

Q: Controllability has little to do with whether a cost is fixed or variable.  Select one: True False

A: Fixed cost is the cost that is related to the production of a good or services. It is the amount…

Q: In economic analysis we want to minimize the difference: (Benefits - Costs).

A: While conducting an economic analysis (cost-benefit analysis) the benefits must weigh greater than…

Q: On a graph, the Total Variable costs line appears to be horizontal in nature. True False

A: Cost: In accounting, the cost is related to monetary value spend on raw material, services, and…

Q: The advantages of standard costing exceeds its disadvantages. True or false? Explain further

A: Standard Costing The primary purpose of implementing the cost accounting system to any organisation…

Q: If fixed costs must be incurred during a given period, shouldn't they be expense during that period?…

A: INTRODUCTION Fixed costs are the cost which doesn’t change with the changes in level of production.…

Q: In a replacement analysis, why are the previous costs irrelevant?

A: Replacement Analysis is a capital budgeting method that determines whether existing assets need to…

Q: TRUE OR FALSE Activities become the fundamental cost accumulation point.

A: Answer:   Activities become the fundamental cost accumulation point.   The statement is TRUE

Q: The break-even point is where a.Revenues Costs. c.Revenues = Costs. d.Revenues = Fixed Costs.

A: Formula: Break even units = Fixed cost / Unit contribution margin.

Q: Describe a situation in which the sales value at splitoff method cannot be used but the NRV method…

A: Relative Sales Value at Split off Method: Relative sales value at split off method allocates joint…

Q: Please explain the meaning of a differential revenue or a differential cost.

A:

Q: In a special order situation, any fixed cost associated with the order is irrelevant cost. True…

A: This question deals with the concept of relevant costing. In special order situation, generally all…

Q: There can be no differential costs if the expenses are fixed. Is that what you're saying? Explain.

A: Variable and differential costs: What are they used for, and what do they mean: When two options…

Q: Programmed costs are also known as O sunk costs O differential costs O standard costs Omanaged costs

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Fixed, variable, and semi-variable costs all have a distinct relationship.

A: Introduction: To put it simply, a cost is a measure of how much money is spent to produce a product…

Q: Problems with a fixed cost that is incurred only if an activity is undertaken at a positive level…

A: If there is a conduct of any activity at any positive level then it incurs an amount of fixed cost…

Q: Difference between weak and semi strong from efficiency.

A: Efficient Market Hypothesis(EMH) states that the price of the share will reflect the information and…

Q: Indirect material cost is that which cannot be conveniently identified with and allocated to cost…

A: Cost: It can be defined as the total amount that is spent by a business in manufacturing a product.

Q: Describe how total variable costs and unit variable costs behave with changes in the level of…

A: Since you have asked questions with multiple sub-parts, we shall be answering thefirst 3 for you.…

Q: In the cost-volume-profit graph,a. the break-even point is found where the total revenue curve…

A: A graphical representation of the relationship between production costs and total sales is shown by…

Q: Define the following terms: joint production process, joint costs, joint products, split-off point,…

A: Joint production process: A joint production process results in two or more products, called as…

Q: Direct costs minus indirect costs equal total costs Select one: O True False

A: Direct cost  means  Directly  related to production  of output Example  : Direct  material  ,Direct…

Q: Differential Costs are the difference in cost between any two alternative choices True False

A: Differential cost is the cost difference when two alternatives are projected. It also the cost…

Q: A price that can't be quickly or efficiently linked to a cost object is referred to as: Additional…

A: The costs that are easily tracked to the product are known as the traceable costs. Special domestic…

Q: a range in which the relationship between the cost and its driver is still valid is call

A: Solution: A range in which the relationship between the cost and its driver is still valid is called…

Q: Absorption costing is more compatible with cost-volume-profit analysis than is variable costing.…

A: Variable costing simply covers the variable costs actually incurred in production, but not any of…

Q: Opportunity costs are always: Multiple Cholce sunk costs. relevant costs. fixed costs. varlable…

A: Sunk Cost - It is a cost that has already been spend , and cannot be recovered back  .  Relevant…

Q: An indirect cost for one cost object can be a direct cost for a different cost object. True False

A: Direct cost means the cost directly related with cost object and indirect cost means which can not…

Q: Which of the following choices correctly denotes the data needed to allocate joint costs under the…

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: When contribution is positive but equal to fixed cost: a. There is loss less than fixed cost b.…

A: Contribution is the amount received after the variable cost or direct costs are deducted from Sales,…

Q: Which of the following is a correct definition of the margin of safety? The excess of contribution…

A: Margin of safety: Margin of safety is the point at which company makes profit. In other words Margin…

Q: ou agree from the following statements- Explain in details with Variable costs are controllable but…

A: Statement is TRUE but not entirely True. Variable costs are controllable cost while fixed costs are…

Q: The High-Low method is used to separate the variable and fixed elements of mixed costs. Select one:…

A: High low method: Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest…

Q: A cost - based transfer price considers the cost of producing the goods when determining the price.…

A: At the time of determining the prices of the goods, the cost of goods-producing is required to be…

Q: Only variable costs can be differential costs. Do you agree? Explain

A: Answer

Q: “Variable costs and differential costs mean the same thing.” Do you agree? Explain

A: Differential cost:   The difference between the costs of two alternatives is considered as a…

Q: Expenses that are both variable and fixed are referred to as hybrid costs

A: This question explains about the both variable and fixed are referred to as hybrid costs.

Q: Depreciation is an example of a mixed cost. Select one: O a. FALSE O b. TRUE

A: Mixed Cost is a cost that has a certain percentage of fixed as well as variable costs. Basically, a…

Q: Explain how the unit contribution margin can be used todetermine the unit sales required to break…

A: The contribution per unit indicates the value left after deducting the variable cost from the sale…

Q: Which of the following costs increases as the distance of a shipment increases? O a. Fixed O b.…

A: The shipment cost is included in selling expenses.

Q: True or False. Conversion costs are usually incurred evenly throughout a process.

A: Conversion cost includes all type of overhead expenses and direct labour cost because to complete…