The basic cost flow model is Select one: a. EB - BB = TO - TI b. BB + TO - TI = EB c. BB + TO = TI + EB d. EB = BB + TI - TO

Q: Direct materials would be considered a?   Group of answer choices Step Cost Mixed Cost Fixed Cost…

A: Hi Student Since there are multiple questions,we will answer only first question. If you want…

Q: Fixed cost per unit ______ A

A: Under Marginal costing technique there are two types of costs . That is  a) Fixed costs Fixed cost…

Q: Which of the following best defines the allocation base Select one: O a. It is selected based on the…

A: SOLUTION-  ALLOCATION BASE-  IT IS A BASIS UPON WHICH AN ENTITY ALLOCATES ITS OVERHEAD COSTS. AN…

Q: The left column lists several cost classifications. The right column presents short definitions of…

A: Fixed Cost: Fixed cost refers the cost which remains constant for particular time duration and there…

Q: A) Semi-variable or semi-fixed costs (Mixed costs). These costs include both a direct of indirect…

A: Managerial accounting is the accounting process followed by a business for their better management.…

Q: elevant cost per unit of part A1

A: Correct Answer:-   Relevant cost per unit is B :- 85

Q: On a CVP graph, the intersection of the sales revenue line and the total cost line is known as the:…

A: The Break-even point indicates that total units are to be sold by the business entity to recover its…

Q: In the mixed cost function Y A+ BX, total variable costs is represented by: O a. Y Ob. A BX C. BX O…

A: In accounting, the term mixed costs refers to costs and expenses that consist of two components: A…

Q: Gross margin is to absorption costing as which of the following is too variable costing?   A.…

A: Variable costing uses Contribution Margin Income Statement by showing Sales – VARIABLE expenses =…

Q: Standard cost is a Select one: O a. Actual cost b. Historical cost c. Predetermined cost O d. direct…

A: Let's start with understanding of meaning of standard cost  Standard cost:- Standard cost is the…

Q: For costs that vary with production level in the short term, the cost driver will be: a. Service…

A: Solution- Under Activity Based Costing, the costs are classified as short term variable costs and…

Q: Terms used in manufacturing cost systems are: manufacturing costs prime costs conversion costs both…

A: Manufacturing cost refers to the total cost incurred by the entity to manufacture a product. It…

Q: The “line of best fit” may also be described as: a.the total variable cost line b.the total fixed…

A: Variable cost- A variable cost is a commercial expense that changes in amount to how much a…

Q: Which costs assignment method would you use to assign prime costs to a product: a.direct tracing…

A: Prime cost: prime cost is total of direct cost that is direct material, direct labor and direct…

Q: Which costing method, absorption or variable, would show higher operating income and by what amount?…

A: The difference of net income between absorption and variable costing occurs due to only fixed…

Q: What is target cost per​ unit?       Question content area bottom

A: Target cost is the cost which is sufficient to develop specified functionality and quality of a…

Q: (a) How much is the order quantity based on EOQ model? (b) How much is the total cost using EOQ…

A: EOQ is the acronym of economic order quantity; it is that level of quantity which is ordered by the…

Q: ABC systems Select one a. will limit cost drivers to units of output O b.comply with CAAP c…

A: ABC system is used to control the inventory. Materials are classified as A, B and C according to…

Q: The graph of a variable cost when plotted against its related activity base appears as a a.circle…

A: Variable cost is a cost that increases with the increase in the level of production of a commodity.…

Q: The “fixed cost per unit function” may also be described as: a.an asymptote b.the total cost line…

A: Introduction:- Fixed costs, also known as indirect costs or overhead costs, are corporate expenses…

Q: Assignment Question(s): Marks 10 1.Complete the following table. (2 Marks) Output Total Fixed Cost…

A: Total Cost = Variable Cost + Fixed Cost The total variable cost will vary as per the output where as…

Q: (c) Describe a situation where net profit under variable costing is higher than absorption JIT…

A: Variable costing is a costing method in which overhead is incurred in the period of production of…

Q: When using the visual-fit method to estimate a cost function, we can estimate the fixed cost by O…

A: Visual Fit Method  It is the most common method used by analysts for examining the cost by the way…

Q: ) Classify each cost element as either fixed, variable, or mixed b) Calculate: i) the variable…

A: Solution Answer for part a) and part b) i) and  ii) is given Concept The formula for high low method…

Q: Using ABC, compute the cost of each unit of Product A? The following data are available for X Corp:

A: Unit Cost=Total CostUnits Completed

Q: Which of the following statements related to CVP chart is not true? O a. None of the given answers.…

A: The question is multiple choice question.The question is related to cost volume profit analysis.…

Q: Distinguish the effect of First in first out (FIFO), Last in last out (LIFO) and average cost on…

A: There are three method of Inventory valuation  First in first out ( FIFO ) Last in first out ( LIFO…

Q: (ii) Describe TWO (2) other methods that HHSB can use to set transfer price other than full…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Compute for the cost of WIP, end using Average costing.

A: Average costing: Weighted-average costing used to value the cost of finished goods and ending work…

Q: The "x" in the overhead cost equation, y = $5.50x + $92,000, represents which of the following?…

A: Variable cost per unit = (Highest activity cost - Lowest activity cost) / (Highest activity units -…

Q: Classify each cost item of Pick, AUM branch, as variable, fixed or semi-variable.

A: Types of Cost 1. Variable Cost: The cost which vary with the variation in the volume of output is…

Q: wo types of costs that each combine fixed cost and variable cost behaviors are: 1. capacity and…

A: Fixed cost: Fixed cost is one of the cost elements in the overall cost of the company where the…

Q: Complete the table below. Units Fixed costs ($) Variable costs ($) Total costs ($) Sales revenue ($)…

A: The first question is answered for you. Please resubmit specifying the question number you want…

Q: Distinguish between (a) cost behavior and (b)  a mixed cost, and (c) a step-variable cost. Plot the…

A: The following costs are categorized as per their behavior to the change in the level of output in…

Q: A mixed cost contains a. a variable element and a fixed element. b. both selling and administrative…

A: Mixed costs are that cost which contain a portion of both fixed and variable costs. Common examples…

Q: 6- Absorption costing makes an apportionment of indirect costs so that the products absorb these…

A: There are two types of costing methods that are being used in cost accounting. One is absorption…

Q: В. Explain the following: Product costs and Period costs and one example of each. Distinguish…

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

Q: Fixed overhead costs that will continue regardless of a make-or-buy decision are ________ to the…

A: It is pertinent to note that fixed cost is the cost irrespective of the level of activity.  Example…

Q: b. Prepare a variable costing income statement for the three products. Enter a net loss as a…

A: Variable Costing Income Statement In this statement, contribution margin is computed by deducting…

Q: (c) Explain why relevant costing principles áre used lor one-c (d) Referring to the proposed…

A: Here Flynn Design Limited produced Bespoke Timber furniture for the hospitality industry.  Due to…

Q: Distinguish between ( a ) a variable cost, ( b ) a mixed cost, and ( c ) a step-variable cost. Plot…

A: Total  cost Total cost refers to the cost which allows the business owners to trace the combined…

Q: Instructions a. Define the terms variable costs, fixed costs, and mixed costs. b. Classify each cost…

A: Answer a) VARIABLE COST:- A variable cost is an expense that rises or falls in direct proportion to…

Q: On a graph, if a horizontal axis represents units of production and the vertical axis represents…

A: Solution: Total variable cost is dependent on nos of units produced and same will increase in same…

Q: Which one of the following is correct about variable costing systems? Select one: a. Normally result…

A: Under the variable costing system, the product cost includes direct material, direct labor, direct…

Q: Which of the following is a correct statement? OA the fixed manufacturing cost is based on a per…

A: Fixed manufacturing cost is a fixed overhead cost. Under Variable Costing, fixed overhead cost is…

Q: uantity order to reduce the overall cost is usually stated as EOQ. why it is related to one time…

A: Step 1   Economic order quantity (EOQ) is the ideal order quantity a company should purchase to…

Q: 2- The ABC costing method * a) is based on the Pareto curve b) is absorption costing c) allows…

A: Activity based costing means where the product is valued on the basis of actual direct material ,…

Q: The contribution margin ratio can be calculated in all of the following ways except: a.1 − Variable…

A: Contribution margin ratio is the difference total sales and total variable cost which is calculated…

Q: In representing the total manufacturing costs in the equation Y=a+bX, “a ” in the equation…

A: Answer- 3. Total variable manufacturing costs    Y=a+bX is the equation used to calculate total…