Reflections on any topics covered in the Acitivity based costing system that interests you the most. Why was it interesting and what did you learn from it?
Q: introduction to cost estimating techniques?
A: Reliable cost estimates are an integral part to conduct any project.
Q: business
A: The terms and conditions of the payments should be made before the transaction of goods and services…
Q: What is the labor cost of quarter 2? OA. $180,000 OB. $120,000 O C. $60,000 O D. $70,000
A: Given info- Hiring cost = $40Firing cost = $80Inventory cost (per unit) = $40Stockout cost for…
Q: As the new materials manager you have been asked to develop a production plan for the next year that…
A: Give the case scenario, we need to make a few assumption as there is no specific information. These…
Q: What is the rationale of using variable costing internally for management planning and control?
A: Variable costing that is also known as direct costing, is a managerial accounting method in which…
Q: Discuss the main components of CVP analysis by providing your own numerical example and constructing…
A: The cost-volume-profit analysis, also normally referred to as break-even analysis, looks to work out…
Q: Jon Snow has invented a new and improved space heater unlike anything in the market. He has a…
A: There is always the scope of uncertainty when one go for new product development and its…
Q: You have performed preliminary analytical procedureson one of your audit engagements and observed…
A: Preliminary analytical procedure: These are used by the auditors in the planning stage. It helps in…
Q: Describe how an incentive payment made in one year will affect base pay in the nest year.
A: Incentive pay, sometimes known as "pay for performance," is usually paid in exchange for particular…
Q: As a conclusion, in relation to Cost Leadership Strategy. We can state that a company that achieves…
A: Cost leadership strategy refers to a business strategy taken by the business organization to gain a…
Q: Schister Systems uses the following data in its Cost-Volume-Profit analyses: Total $ 365,000 219,000…
A: Given Information:
Q: A) What is the CCA (Cost of Customer Acquisition) in 2021 for the above projections? Show your work…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: How many burgers you would need to sell to break even? What should be the selling price per burger…
A: Break-even point is the point where the cost of production and revenue of production are equal to…
Q: Discuss the importance and usage of Cost Estimating. - Where can this be used - When can this be…
A: COST ESTIMATION: Cost estimation can be defined as the process of forecasting the financial and the…
Q: reen manufactures agricultural equipment and is planning to develop and launch a new fuel efficient…
A: Operation management in an organization aims at providing the highest efficiency possible. It…
Q: hired to complete a profitability analysis and you decided to start by completing a cost analysis…
A: Given: Number of attendees 0 50 100 175 200 Variable cost per attendee $135 $135 $135 $135 $135…
Q: What are the typical characteristics of a company that should use a process costing system?
A: A company that produces homogeneous goods in mass quantities is likely to use a process costing…
Q: What ratios would you look for in the books of the firm you want to buy? Of what use are bank…
A: The ratios that i would look for in the books of the firm i want to buy is discussed as follows-
Q: Write a brief introduction to cost estimating techniques?
A: Project cost estimation is the process of predicting the quantity, cost, and price of the resources…
Q: Chapter 15 Explain the four common uses of comparisons that the manager will find helpful. Chapter…
A: Comparison Analysis enables the management to find the importance of a number of options relative to…
Q: In a manufacturing business, you have been assigned the task of installing a costing system. What…
A: Strategy is a long term planning to achieve objectives. It is an art of planning and managing the…
Q: Briefly write about the impact of technology on the cost estimation technique and its types, such as…
A: While there's unquestionably no absence of technology items accessible to help assist the cost…
Q: Cost-Benefit analysis
A: The correct answer is compares the cost, with the benefits, of introducing a computer-based system
Q: Your Boss is looking over a Breakeven Chart which you have prepared to portray the Cost Volume…
A: Break-even analysis is the process that determines the total number of units to be sold in the…
Q: Relationship of Waterfall Methodology to Cost and Profit Estimates
A: The waterfall model is a linear project management strategy in which stakeholders and customer…
Q: Is it possible to keep production prices below those of the competition?Explanation
A: Production is the process in which different inputs are involved to produce products and services…
Q: carrying costs of $20 per unit per month, and zero beginning and ending inventory, evaluate the…
A: Loss of revenue and customers as a result of a stockout include stockout charges. This is especially…
Q: A study makes the following recommendation to a no-frills budget airline: the airline ought to offer…
A: Air travel can be a stressful experience. There is turbulence, baggage restrictions, airport…
Q: or many years it has been said that capital is the bottleneck for a developing industry. I don’t…
A: 1-Mary Parker Follett has rightly defined management as a process of efficiently getting things done…
Q: Can you think of any other revenue streams that can be incorporated into its business model? For…
A: Yes, there can definitely be other revenue streams which can be incorporated by swiggy. Some of…
Q: What will be procurement strategy for a university plans to launch its new campus in the city. You…
A: According to the inquiry, an acquirement system needed to dispatch another grounds alludes to a…
Q: Need answer of each question minimum 100 words to What is the return of the creditors? How can it…
A: Buys return book is an auxiliary book which records products got back to the provider (for example…
Q: Identify and give a brief description of the functions of Management Identify three reasons for the…
A: The term mаnаgement is used tо define аn оrgаnizаtiоn's аdministrаtiоn, irresрeсtive оf…
Q: Many firms rely on the internet extensively. Explain how firms using cost leadership and firms…
A: Information system, Cost Leadership and Differentiation: Information frameworks pick up their…
Q: Discuss this statement and recommend a systematic approach that project teams should take to manage…
A: Minimum cost in the organization is a goal that managers seek to attain. It is important as it helps…
Q: a. Given these numbers, should the firm buy or make this item? b. There is a possibility that volume…
A: Total cost is the cost that includes the fixed as well as the variable cost of the product and…
Q: When there is no production, total cost is equal to total fixed cost. Select one: a. True b. False
A: What sort of firm causes costs however delivers no yield? This can just allude to a firm that has…
Q: 5. What are the characteristics of a company that would be more likely to use process costing than…
A: Process costing denotes an accounting method of assigning a cost to the units by averaging the total…
Q: Keurig in the maker of single-serve coffee machines. The product uses pods and makes a cup of coffee…
A: Value Proposition is model is a tool which helps the organization to analyze and create a best…
1. Reflections on any topics covered in the Acitivity based costing system that interests you the most. Why was it interesting and what did you learn from it?
2. Reflections on what you learned from the individual assignment, including the relevance of Activity based costing system to businesses. What insights did you gain and what had you learnt from it?
3. Reflections on your overall research experience from the individual assignment(e.g. looking for journal articles, reading and reviewing the literature etc.)What was enjoyable, what was difficult, and any challenges you experienced?
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- In a manufacturing business, you have been assigned the task of installing a costing system. What kinds of practical challenges do you anticipate to encounter, and what strategies do you intend to use to overcome them? What are the most important concerns you will keep in mind when you implement the system in light of the obstacles and suggestions for overcoming them?Claudia is getting mad! She has been given an assignment to complete a purchases budget, a sales budget, and a production budget and she is hopelessly stuck. Five minutes ago, she began the assignment. She realized that for the Operating Budgets, the textbook presents the sales budget first. “Well that doesn’t make any sense,” she tells herself “those stupid accountants don’t know what they’re doing! How can we make a sales budget if we don’t know how many goods will be available for sale in the first place? I think I should do a purchases budget first. Then I’ll know how many units I can produce, and then I’ll know how many I can sell!” Claudia has been staring at the assignment for the last five minutes and she keeps going in circles as to where to start. There doesn’t seem to be any good starting point and her anger is boiling under her skin. Her poor duct tape-covered book is about to go flying across the room once again or maybe out the window! (1) Is there a proper order for…Two competitors have the cost structure shown below. Which of the following statements are true Firm A Firm B Product 1 Units 500 200 Total costs (P1) $50,000 $18,000 Product 2 Units 500 1200 Total costs (P2) $100,000 $144,000 Total costs (P1 + P2) $150,000 $162,000 A. Firm A should lower its price on Product 2 B. Firm B is the low-cost producer. C. Firm B should lower its price on Product 1 and Product 2 D. Firm A is the low-cost producer E. Both A and B are true
- Can you please conduct the cost/benefit analysis and inventory analysis. I do not know what calculations to do. Thank youCost-Volume-Profit Analysis (CVP analysis), also commonly referred to as Break-Even Analysis, is a way for companies to determine how changes in costs (both variable and fixed) and sales volume affect a company’s profit.1. Discuss the main components of CVP analysis by providing your own numerical example and constructing a Break-Even Chart.provide the meaning of cost volume profit analysis. Provide numerical data and calculate contribution margin ratio and variable expense ratio, break even in units and in sales, changes in net income, margin of safety and degree of operating leverage. Also, state the assumptions of cost volume profit CVP analysis??Goldratt’s “Theory of Constraints”A 2-3 line answer/explanation is enough for each question.#1. What is the goal? #2. Alex’s thinking seems to be “distorted” by conventional management accounting metrics. What problem or problems does this lead to?#3. What are the three operational measurements? Include a one or two sentence description of each. #4. How is each operational measurement computed? #5. Of the three measures, which measure has the greatest impact on profitability? Briefly, describe why this differential impact might be true.#6. What are the five focusing steps as first described? #7. What are the five focusing steps that are finally settled upon? #8. What are the six “takeaways” on how to drive continuous improvement? #9. How might this approach be useful almost any organization)? #10. Any other comments that you care to make. *** Your general assessment of TOC. *** *** Of special interest is any experience you might have had with using the TOC. Basic situation or…
- What is the rationale of using variable costing internally for management planning and control?13/Which cost compels the managers to examine the long- term financial implications of the strategic decisions they are making in an organization? a. Life cycle cost b. All of these c. Activity based costing d. Targeting costingExplain how Activity-based Costing (ABC) can support strategic planning and the value adding processes. Include examples of the type of information and reports the management accountant can provide
- You are an audit senior of Sam & Partners and are in the process of reviewing the systems testingcompleted on the payroll cycle of Brown Industries Ltd, as well as preparing the audit programmes for the finalaudit.Brown operates several chemical processing factories across the country, it manufactures 24 hours a day, sevendays a week and employees work a standard shift of eight hours and are paid for hours worked at an hourly rate.Factory employees are paid weekly, with approximately 80% being paid by bank transfer and 20% in cash; thedifferent payment methods are due to employee preferences and Brown has no plans to change these methods.The administration and sales teams are paid monthly by bank transfer.Factory staff are each issued a sequentially numbered clock card which details their employee number andname. Employees swipe their cards at the beginning and end of the eight-hour shift and this process is notsupervised. During the shift employees are entitled to a 30-minute paid…Your Boss is looking over a Breakeven Chart which you have prepared to portray the Cost Volume Profit relationship of proposed plan of operations. He comments, “The chart only tells me more we sell more profits we make.” What will be your reply? How will you convince your boss that BEP analysis is important for every organization, it gives a way to design production units and identifying profits and losses?You have recently been appointed as the Production Manager at the Harcourt Ltd. The General manager and the Management team have an archaic view of the concept of ‘contribution’ in themarginal cost statement. In your next Department Heads Meeting, you want to continue your awareness-building efforts. In your presentation, you should: Briefly explain the importance of the concept of contribution.