The cost that is used for the benefit of many cost objects and cannot be easily related to any specific cost object: Select one: O a. Fixed cost O b. Indirect cost O c. Direct cost d. Variable cost

Q: ‘Costs maybe classified in a different type of behavioural costs such as variable and fixed costs…

A: solution : concept : variable costs               variable costs are those costs which varies along…

Q: Is

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Q: The reason for some costs to be mixed in nature is? A. Presence of sunk cost in the cost structure.…

A: Fixed costs are those costs which do not change with change in level of activity like Rent Expense…

Q: Cost classifications used for predicting cost behavior include: Multiple Choice Variable cost and…

A: Variable costs are the costs that varies with the change in output but per unit variable cost…

Q: In applying the high-low method of cost estimation to mixed costs, how is the total fixed cost…

A: Mixed cost also called the semi variable cost . Mixed cost contains both fixed and variable cost .…

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: Programmed costs are also known as O sunk costs O differential costs O standard costs Omanaged costs

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Fixed, variable, and semi-variable costs all have a distinct relationship.

A: Introduction: To put it simply, a cost is a measure of how much money is spent to produce a product…

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: Using the high-low method, determine the cost function for each cost?

A: High low method of cost estimation says that costs at highest level and lowest level are to be taken…

Q: Label each of the following statements as either true (“T”) or false (“F”). Relevant costs are also…

A: Relevant costs: These costs can be defined as the costs that can be avoided if we choose over option…

Q: Define prime cost and conversion. Why can't prime cost prime cost be added to conversion cost to get…

A: Classification of costs is important to arrive at per head cost. It helps the management to take…

Q: Why is it necessary to distinguish between variable and fixed costs when dealing with mixed costs

A: Introduction:- Every Business expenses are classified as either fixed or variable costs. on other…

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

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Q: A cost which changes in proportion to changes in volume of activity is called a: *       a. fixed…

A: Costs are the expenses or amounts incurred in the business for manufacturing or selling of products.…

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

A: The term cost refers to the monetary value of expenditure for raw materials, technology, supplies,…

Q: Which of the following costs has no relationship with the level of output? a) Semi-variable costs.…

A: Semi variable and variable costs has a direct relationship with the level of output. Stepped fixed…

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: 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: Marginal Costing refers to product costing methods that exclude ________ from product costs a)…

A: Using marginal costing, only variable costs are included in product cost.

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: Opportunity costs are always: Multiple Cholce sunk costs. relevant costs. fixed costs. varlable…

A: Sunk Cost - It is a cost that has already been spend , and cannot be recovered back  .  Relevant…

Q: An indirect cost for one cost object can be a direct cost for a different cost object. True False

A: Direct cost means the cost directly related with cost object and indirect cost means which can not…

Q: he distinction between indirect and direct costs depends on: Select one: a. whether a cost differs…

A: Direct cost means the cost which can be related with the production of specific goods directly like…

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

A: The manufacturing companies would be under go many costs which will be directly related to…

Q: In CPV analysis/ marginal costing, the term contribution is used. What does Contribution mean to…

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Q: simple cost analysis method to identify fixed costs and variable costs in a linear cost function is…

A: High low method is method which separates the elements of fixed cost and variable cost from the…

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: key different in accounting for costs between absorption and variable costing

A: Absorption costing and variable costing are two methods of costing products.

Q: Do you agree from the following statements- Explain in details with examples 1.Variable costs are…

A: IntroductionProduction cost may be defined as that type of expenses which occurs during the…

Q: What type of cost is expertise? Is it a fixed cost or a variable cost? Defend your answer.

A: SOLUTION- FIXED COST  ARE THOSE COST WHICH DO NOT CHANGE WITH A REASONABLE LEVEL OF CHANGE .…

Q: A cost that has characteristics of both a varlable cost and a fixed cost is called a Oa,…

A: Reason:- Mixed cost refers to the cost which is a combination or mix of both fixed cost and variable…

Q: The following statements are correct excerpt? OA. Only avoidable costs are relevant for decision…

A: Relevant costs are costs which are important for decision making or these costs can effect the…

Q: (i) A cost that can be traced to a cost object is known as A. A fixed cost B. A variable cost C. A…

A: As posted multiple questions we are answering only first question kindly repost the unanswered…

Q: What does it mean that a cost is a direct, product, and variable cost?

A: The cost represents the value incurred by the corporation in making the product ready to sell in the…

Q: What is the term used to describe costs that increase in steps? A. Variable costs B. Fixed costs…

A: Cost is referred as the essential part of the business or a company which looks after the costs such…

Q: what is the definition of fixed, variable, and mixed costs? Are variable costs or fixed costs easier…

A: Introduction: Cost accounting is a type of managerial accounting that capture a firm's production…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.