tandard cost systems provide companies with a number of advantages, argue the statement.

Q: When pricing products and using cost-plus pricing, which type of cost is perceived to be the safest…

A: In absorption costing , fixed manufacturing overhead will be included in stock valuation where as in…

Q: Product Cost from Period Cost. Please help me I really need the answer, clear explanation please,…

A: The cost function is a function that is used to show how production expense will change at different…

Q: The target costing is a cost management technique. Discuss the advantages of using this technique…

A: Definition:   Target costing: A costing system that emphasizes on the minimization of existing and…

Q: a difference in cost-plus pricing and target costing is that target costing starts with the price…

A: Target costing says that first target selling price is calculated, then markup is deducted from…

Q: Cost is being classified  in a varity of ways, what benefits can be acquired out of this…

A: Classification by the management in their decision making is significant to help management in the…

Q: Which of the statement is not a true reflection of Target cost gap ?   The target cost gap =…

A: target costing is the way in which deriving of a target cost is done to set the production manager…

Q: “Activity-based costing is the wave of the present and the future. All companies should adopt it.”…

A:

Q: Three major influences on pricing decisions are​ ________.   A. continuous​ improvement, customer​…

A: Price is the cost of product to the ultimate customers, hence it needs to be decided in such manner…

Q: In determining cost behavior in business, the cost function is often expressed as Y=a+bX. Which one…

A: There are two types of costs in the business, one is fixed costs and other is variable costs. Fixed…

Q: Explain why is important for a business to understand their composite mix of products when…

A: Sales mix is the proportion of sales in quantity with respect to total sales quantity. It is…

Q: Which of the following major activities of a business will result in product costs? Multiple Choice…

A: The costs that can be directly attributable to the produced goods are called product costs.

Q: How would you recommend stabilizing the company's unit product cost?

A: Unit cost of a product is determined by dividing the total cost of the units produced by the total…

Q: Activity-based costing is preferable in a system: Group of answer choices A. when multiple products…

A: ABC (Activity based costing) framework was created to manage the drawbacks of customary costing…

Q: Explain how far you agree that the Activity-Based-Costing system is a superior model compared to the…

A: Cost accounting is considered as a process that is followed by a business to estimate the total cost…

Q: The strategy that the company could take to maintain the competitive advantages are Cost Leadership,…

A: Competitive advantage refers to factors that allow a company to produce goods or services better or…

Q: Cost calculation

A: Cost is the amount incurred in production of product, carrying out a process, conduct of sales or…

Q: Discuss the concept of total cost management (TCM) model and its importance to BPO in identifying…

A: Total cost management (TCM) is a concept which aims at understanding the costs of an organization…

Q: activity-based costing is preferable in a system a) when multiple products have similiar product…

A: To assign overhead costs to products, the methodology which is used is called Activity-Based…

Q: In deciding which product lines to emphasize when a production constraint exists, the company should…

A: Constraint: Constraint is a factor that limits the production of a product or sale of a product.

Q: In making short-term business decisions, what should you do? a. Use a traditional costing approach.…

A: Business decision refers to large part of conducting business is making decisions.

Q: Briefly discuss the different cost classifications which are relevant for a business like Raajje…

A: Different cost classifications are: Fixed cost and variable cost Direct and indirect cost

Q: Based on below, Activity-Based Costing and Analysis Cost Behavior and Cost-Volume-Profit Analysis…

A: Under cost-profit volume analysis, the break-even point is that level of production where the…

Q: 1- What potential problems should be avoided in relevant-cost analysis?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Winters, Inc. is preparing financial statements to be distributed to investors and creditors. The…

A: Definition:   Absorption costing: It refers to the method of product costing in which the price of…

Q: Explain cost concepts it is relevant for the company to be aware of in decision situations such as.…

A: Here discuss about the details of the various costs which are incurred to the business entity which…

Q: Explain a hybrid costing system. Identify a product or service operation that might be suited to a…

A: Hybrid Costing:   Hybrid costing is a method of cost accounting in which the elements of job and…

Q: Evaluate cost factors influencing a company's decision.

A: Cost factor is the factor or an element which is related to unit of product for which some amount of…

Q: "Simplification of all costs into only fixed and variable costs distorts the actual cost behavior…

A: Introduction:- There are four basic cost behavior patterns as follows:- fixed costs variable costs…

Q: 1. What are the three primary reasons of using a standard cost system? In a business that routinely…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Standard cost system provides companies with a number of advantage and argue the statment

A: Standard Cost:   A standard cost accounting refers to a cost accounting method used by a company as…

Q: In Classification Of Cost (Marginal costs) What Is A Business Situational Example of the ff:…

A: Cost is the amount which is spend to sold the goods or to provide the service. It is comprises of…

Q: Explain single product cost-volume-profit (CVP) and break-even analysis. Provide a hypothetical…

A: COST - VOLUME - PROFIT (CVP)  ANALYSIS CVP analysis looks at the effect of sales volume variations…

Q: PLEASE ANSWER ALL   4. A cost management system will provide the means to develop a. The most…

A: Cost management is the system to manage the Cost ( Plan and control )

Q: In making short-term business decisions, what should you do? Use a traditional costing approach.…

A: Business decision refers to large part of conducting business is making decisions.

Q: In Classification Of Cost, What Is A Business Situational Example of the ff:

A: Cost refers to the amount spent by the business on the purchase of raw materials, supplies,…

Q: Companies benefit greatly from the use of a standard cost system, and the statement

A: This question deals with  the use of a standard cost system, and the statemen

Q: Activity Based Costing Give your answers to the following questions;  Why do product costing…

A: 1. Product costing system based on single rate of predetermined overhead  Manufacturing overhead…

Q: Compute It can use ABC information for what decisions? Cost-cutting Pricing Product mix Items a, b,…

A: Activity based costing: Activity based costing is a costing method used by the company to assign the…

Q: Describe the differences in behavior of fixed costs, variable costs, semi-variable costs and step…

A: Fixed costs are fixed in nature, it doesn't vary with the change in units. The total fixed cost will…

Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.