O e. Incremental cost.
Q: 'direct costs'
A: Direct costs are the costs that incurred directly for converting any raw material into finished…
Q: What is the variable cost and indirect cost?
A: Variable costs are costs that changes with level of activity. If activity level increases, then…
Q: a. what is the amount of prime costs? b. what is the amount of conversion costs?
A: Prime cost is the total direct cost incurred to manufacture a product or render a service typically…
Q: Describe and apply the lower-of-cost-or-net realizable value rule.
A:
Q: Explain Fixed and Variable Costs?
A: Fixed Cost is the cost which remains same irrespective of the capital or strategic decision made by…
Q: Define cost-volume-profit analysis?
A: Cost-Volume-Profit Analysis (CVP Analysis): CVP Analysis is a tool of cost accounting that measures…
Q: t variable cost o Compute the
A: Ans to Obj.3 Working Particulars Amount $…
Q: Understand and apply the lower-of-cost-or-net realizable value rule.
A:
Q: Give an example of cost which is a part of unavoidable cost.
A: Unavoidable costs are costs which cannot be avoided by discontinuing a product line or which cannot…
Q: What are costs that have characteristics of both a variable and fixed cost?
A: A cost that has characteristics of both a variable cost and a fixed cost is called a mixed costs or…
Q: e contribution margin percentage?
A: Contribution Margin % = (( Sales Revenue - Variable cost )/(Sales revenue ) ) * 100
Q: Define the term Current cost.
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: Giving examples, distinguish between Prime costs and Marginal costs
A: Prime costs are the firm total expenses directly related to the materials and labour used in…
Q: Define cost-allocation base?
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: cost equation?
A: Consider the cost equation Y = a + bX, where, Y = Total cost a = Fixed cost. b = Variable cost per…
Q: Giving examples, distinguish between Variable cost and Fixed costs
A: Introduction: Costs: Costs are of two types: 1 ) Fixed costs 2 ) variable costs
Q: What is the difference between prime costs and conversion costs?
A: Prime cost includes direct expenses related to Manufacturing of a goods. Major component of Prime…
Q: Explain a linear cost function.
A: A function where the cost depends linearly upon the number of units produced is called a linear cost…
Q: Which costs make up “prime” costs？
A: Prime cost is that cost, which is directly concerned with the product such as direct material,…
Q: What is a standard cost? Explain? Give an example?
A: Standard Cost: Standard cost is the benchmark amount of per unit product, per unit input or per unit…
Q: What does the Unit contribution margin express?
A: Break Even Point: Break Even Point is defined as the level where there is no profit…
Q: Define prime costs?
A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…
Q: What are the prime costs? Conversion costs?
A: Prime cost: Prime cost includes cost which are related to direcly production of Finished goods. This…
Q: What is the prime cost
A: What is Prime Cost.
Q: Define the following terms: incremental cost, opportunity cost, and sunk cost.
A: Incremental Analysis: Incremental analysis refers to the analysis of differential revenue that could…
Q: What is the prime cost?
A: Prime costs means cost of direct materials used and direct labour costs incurred. Direct material…
Q: What are “initial direct costs” and how are they accountedfor?
A:
Q: What is fixed cost
A: The answer is as fallows
Q: Describe the difference between prime costs and conversion costs?
A: Solution:- Difference between prime costs and conversion costs as follows under:-
Q: The contribution m producing and selli
A: The total cost of producing and selling units include both fixed and variable cost. Contribution…
Q: What is total cost?
A: The answer is explained as follows:
Q: Define sunk cost
A: Companies when making crucial decisions about their operations consider relevant costs i.e. costs…
Q: example of lower of cost or net realizable value and explain
A: The concept of lower of cost or net realizable value says that the amount of inventory should be…
Q: Define Historical cost principle.
A:
Q: What is recalculated cost?
A: Cost: It implies to the amount that is paid or spent on a specified task or activity. It indicates…
Q: Define cost pool?
A: Step 1 The amount of money expended on producing a particular product is referred to as cost. Direct…
Q: What can be the Direct-Variable Costs?
A: Fixed cost means the cost which do not vary with the level of output. Variable cost means the cost…
Q: what is a sunk cost
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: Are variable costs always relevant costs? Explain.
A:
Q: Define separable cost.
A:
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- Ali is currently working as a human resource manager for a company and earns a good salary. He is planning to pursue a Master of Business Administration (MBA) degree. He recently received an offer from University A, which included the cost of tuition fees. If Ali decided to go for the MBA study, his company would stop paying his salary. At the same time, if Ali completed his MBA degree, he would earn a higher salary than his current one. Furthermore, Ali has recently purchased an apartment in the city and moved in. For Ali, when considering whether or not to go for the MBA study, the cost of tuition fees is referred to as: a. None of the given answers. b. Incremental revenue. C. Opportunity cost. d. Incremental cost. e. Sunk cost. Clear my choiceAli is currently working as a human resource manager for a company and earns a good salary. He is planning to pursue a Master of Business Administration (MBA) degree. He recently received an offer from University A, which included the cost of tuition fees. If Ali decided to go for the MBA study, his company would stop paying his salary. At the same time, if Ali completed his MBA degree, he would earn a higher salary than his current one. Furthermore, Ali has recently purchased an apartment in the city and moved in. For Ali, when considering whether or not to go for the MBA study, the cost of tuition fees is referred to as: a. Incremental revenue. b. None of the given answers. O C. Incremental cost. O d. Opportunity cost. e. Sunk cost. NEXT PAGE AGE MacBook Air DII F8 Q F7 80 F6 F5Ali is currently working as a human resource manager for a company and earns a good salary . He is planning to pursue a Master of Business Administration (MBA ) degree . He recently received an offer from University A, which included the cost of tuition fees. If Ali decided to go for the MBA study , his company would stop paying his salary . At the same time, if Ali completed his MBA degree , he would earn a higher salary than his current one . Furthermore , Ali has recently purchased an apartment in the city and moved in. For Ali , when considering whether or not to go for the MBA study, the cost of the apartment is referred to as: a. Incremental revenue . b. Sunk cost c. of the given answers . d. Incremental cost. e. Opportunity cost .
- Ali is currently working as a human resource manager for a company and earns a good salary. He is planning to pursue a Master of Business Administration (MBA) degree. He recently received an offer from University A, which included the cost of tuition fees. If Ali decided to go for the MBA study, his company would stop paying his salary. At the same time, if Ali completed his MBA degree, he would earn a higher salary than his current one. Furthermore, Ali has recently purchased an apartment in the city and moved in. For Ali, when considering whether or not to go for the :MBA study, the cost of tuition fees is referred to as .None of the given answers .a O .Opportunity cost b O Sunk cost .c O Incremental revenue .d O Incremental cost .e O hp 10 ho 6. 7 8 9. %3D { P. Y 9. H. KAli is considering the decision of whether or not to go and study a Master degree. He is currently working as an accountant in XYZ Company. He is thinking of getting a Master Degree. If he decided to study the Master Degree, h would expect to earn higher salary than his current one. On the other hand, the study of the Master Degree would f him to take unpaid leave from his current job. Furthermore, Ali recently purchased a new car. For All, the unpaid sala when Ali goes to study the Master Degree is referred to as: Select one: a. Opportunity Revenue b. Sunk revenue c. Differential revenue d. Differential cost O e. Opportunity cost The management function that focuses on setting out future goals for the organization is referred to as: Select one: a. Counseling Ob. Controlling O. Decision making d. Planning Oe. AdvisingAli is considering the decision of whether or not to go and study a Master degree. He is currently working as an accountant in XYZ Company. He is thinking of getting a Master Degree, If he decided to study the Master Degree, he would expect to earn higher salary than his current one. On the other hand, the study of the Master Degree would force him to take unpaid leave from his current job. Furthermore, Ali recently purchased a new car. For Ali, the cost of the car is referred to as Select one: O a. Opportunity cost O b. Sunk cost O C. Differential revenue O d. Opportunity Revenue O e. Differential cost
- Ali is currently working as a human resource manager for a company and earns a good salary. He is planning to pursue a Master of Business Administration (MBA) degree. He recently received an offer from University Awhich included the cost of tuition fees. If decided to go for the MBA study, his company would stop paying his salaryAt the same time, if Ali completed his MBA degree, he would earn a higher salary than his current one Furthermore, Ali has recently purchased an apartment in the city and moved in For when considering whether or not to go for the MBA studythe extra salary to be received after the MBA study is referred to as: Sunk cost. b. Incremental cost. c. None of the given answers , d Incremental revenue . Opportunity cost.Ben Bates graduated from college six years ago with a finance undergraduate degree. Although he is satisfied with his current job, his goal is to become an investment banker. He feels that an MBA degree would allow him to achieve this goal. After examining schools, he has narrowed his choice to either Wilton University or Mount Perry College. Although internships are encouraged by both schools, to get class credit for the internship, no salary can be paid. Other than internships, neither school will allow its students to work while enrolled in its MBA program. Ben currently works at the money management firm of Dewey and Louis. His annual salary at the firm is $65,000 per year, and his salary is expected to increase at 3 percent per year until retirement. He is currently 28 years old and expects to work for 40 more years. His current job includes a fully paid health insurance plan, and his current average tax rate is 26 percent. Ben has a savings account with enough money to cover the…Ben Bates graduated from college six years ago with a finance undergraduate degree. Although he is satisfied with his current job, his goal is to become an investment banker. He feels that an MBA degree would allow him to achieve this goal. After examining schools, he has narrowed his choice to either Wilton University or Mount Perry College. Although internships are encouraged by both schools, to get class credit for the internship, no salary can be paid. Other than internships, neither school will allow its students to work while enrolled in its MBA program. Ben currently works at the money management firm of Dewey and Louis. His annual salary at the firm is $65,000 per year, and his salary is expected to increase at 3 percent per year until retirement. He is currently 28 years old and expects to work for 40 more years. His current job includes a fully paid health insurance plan, and his current average tax rate is 26 percent. Ben has a savings account with enough money to cover the…
- Michiko and Saul are planning to attend the same university next year. The university estimates tuition, books, fees, and living costs to be 12,000 per year. Michikos father has agreed to give her the 12,000 she needs to attend the university. Saul has obtained a job at the university that will pay him 14,000 per year. After discussing their respective arrangements, Michiko figures that Saul will be better off than she will. What, if anything, is wrong with Michikos thinking?Which of the following scenarios would be considered an EXCEPTION to the rule that people on average make more money as they obtain higher levels of education? a.Julia graduates from a state college with a degree in business and is hired by an insurance company to sell automobile insurance. The company pays Julia an annual salary of $64,000. b. A college dropout starts a new social media technology company and sells the company and its new technology to a venture capital firm for $50 million dollars making him an instant multi-millionaire. c. Dan is a high school graduate and decides he does not want to go to college. He finds a full-time job loading and unloading trucks in a local warehouse that pays him $38,000 per year. d. A chemical engineer with a Ph.D. in biochemistry is paid $200,000 per year to develop new fuels for vehicles that have lower carbon emissions in the atmosphere.Maria Turner just graduated from college with a degree in accounting. She planned to enroll immediately in the master's program at her university but has been offered a lucrative job at a well-known company. The job is exactly what Maria hoped to find after obtaining her graduate degree. In anticipation of master's program classes, Maria already spent $450 to apply for the program. Tuition is $8,000 per year, and the program will take two years to complete. Maria's expected salary after completing the master's program is approximately $60,000. If she pursues the master's degree, Maria would stay in her current home that is near the campus and costs $600 per month in rent. She also would remain at her current job that pays $25,000 per year. Additionally, Maria's immediate family is nearby. She spends considerable time with family and friends, especially during the holidays. This would not be possible if she accepts the job offer because of the distance from her new location. The job…