List and explain three kinds of fixed costs and three variable cost

Q: With reference to Bryony’s Pasta, distinguishbetween fixed costs and variable costs.

A: The total cost can be divided into two categories. Fixed cost:  cost indicates the fixed and does…

Q: Discuss four frequently encountered problems when collecting cost data on variables included in a…

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: a) Define fixed, variable and semi-variable costs and give an example of each.

A: Since you have posted multiple questions we will do the first one for you. To get the remaining…

Q: Define the following concepts: a)Prime cost    b) Non production cost

A: All costs incurred are categorised into production and non production cost on the basis of the…

Q: Cost estimation is the process of   a. Summarizing pwst costs into fixed variable components.…

A: Solution: Cost estimation is the process of "Estimating the relationship between costs and the costs…

Q: Explain the difference between total variable costs and variable costs per unit.

A: Cost can be categorized as variable and fixed costs.

Q: What is cost-allocation base? Give three examples?

A: Costing: Costing is a technique used in cost accounting to determine the cost of a product. With the…

Q: Discuss four example each of relevant cost and irrelevant cost.

A: Relevant cost are those cost which are pertinent to a decision. It is helpful in decision making.…

Q: Define cost object and give three examples?

A: A cost object can be defined as something to which the management feels the need to seperately…

Q: What are the three ways contribution margin can be expressed?

A: Contribution Margin: The process or theory which is used to judge the benefit given by each unit of…

Q: Explain the distinctions between implicit and explicit costs in four points.

A: The costs in the business are classified as implicit costs and explicit costs.

Q: Describe three alternative cost-plus pricing methods.

A: Target Costing:Target costing refers to the cost that is ascertained as per the needs and wants of…

Q: What can be the Direct-Variable Costs? Explain. What can be the Direct-Fixed Costs? Explain. What…

A: Direct variable cost are those cost incurred in line with production or for a particular product or…

Q: Define variable cost and fixed cost. Give an example of each?

A: Variable Cost: Variable cost refers the cost which varies due to the change in the level of…

Q: Define cost tracing? Give three examples?

A: Cost tracking: Cost tracking means the historical record of all the information of cost as it is…

Q: Distinguish between a traceable fixed cost and a common fixed cost. Give several examples of each.

A: Introduction Fixed cost is the cost which will not change according to the production. Even though…

Q: Distinguish between a traceable cost and a common cost. Give several examples of each.

A: Fixed Expense:   It is the expense incurred by a company not related to the volume of output…

Q: What is a variable cost? Identify two variable costs.

A:

Q: Describe three alternatives of cost-plus pricing methods?

A: Cost-plus pricing is a method in which the selling price is set by evaluating all variable costs a…

Q: Give two examples of a value-added cost and two examples of a non-value-added cost.

A: Examples of value added cost:Direct materials.Direct labor.

Q: 2) List and explain three kinds of fixed costs and three variable cost.

A: One of the important decisions that are taken by the management is to determine the exact cost of…

Q: What is cost allocation? Give three examples?

A: Cost allocation :Cost allocation is the allocation of cost to several cost objects such as…

Q: Explain variable costs, fi:xed costs, average variablecosts, average fixed costs, and average total…

A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…

Q: Distinguish between ( a ) a variable cost, ( b ) a fixed cost, and ( c ) a mixed cost.

A: Variable Cost: The cost which is not fixed is called as variable cost. This cost is directly…

Q: Find the cost formula using the Scattergraph method

A: Scatter plot: It is a type of plot or mathematical diagram using Cartesian coordinates to display…

Q: What are the three primary cost flow assumptions? How does the specific identification method differ…

A: Inventory: Inventory refers to the stock of goods purchased, utilized and maintained by the company…

Q: Describe three alternative linear cost functions.

A: Cost Function: Cost function represents the basic change comes in the total cost due to the change…

Q: Can you label revenue, loss, total costs, dollars, variable cost, and fixed cost on the provided…

A: Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining how any type of…

Q: Identify each of these costs as fixed, variable, or mixed.

A:

Q: The cost that is used for the benefit of many cost objects and cannot be easily related to any…

A: Answer is as follows

Q: Define cost pool with three examples?

A: Cost pool: The cost accountant make individual group of all the indirect cost used in an item. In…

Q: Name three factors that will affect the classication of a cost as direct or indirect.

A: Cost: Cost refers to the expense incurred by the business to earn revenue from sales. In other…

Q: What is a fixed cost? A variable cost? A mixed cost? Give an example of each

A: Costs are the expenses incurred in business. It means costs incurred for the manufacturing of…

Q: Describe three criteria for evaluating cost functions and choosing cost drivers.

A: Cost Function:   Cost function represents the basic change comes in the total cost due to the change…

Q: Give four differences between implicit cost and explicit cost?

A: Explicit cost: Explicit cost refers that, a direct payment made by firm to others in course of…

Q: List four reasons for using standard costs.

A: Standard Cost: Standard cost is the benchmark amount of per unit product, per unit input or per unit…

Q: Name four approaches to estimating a cost function.

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: List the four common cost bases used in cost-plus pricing. How can they all result in the same…

A: The profits can be arrived from the income statement of the company. All the revenues, and expenses…