The costs most relevant to be used in decision making are: a. sunk costs O b. current costs O c. estimated future costs O d. notional and full costs Clear my choice
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- Which type of incurred costs are not relevant in decision-making (i.e., they have no bearing on future events) and should be excluded in decision-making? A. avoidable costs B. unavoidable costs C. sunk costs D. differential costsExplain the components of the total cost equation and describe how each of the components can be used by management for decision-making.In cost analysis, what determines which costs should be included in a study?
- Explain how a contribution margin income statement can be used to determine profitability.A responsibility center structure that considers investments made by the operating segments by using a common cost of capital percentage is called_______. A. return on investment B. residual income C. a profit center D. a discretionary cost centerHow do you calculate Benefit Cost Ratio (BCR). Mention the decision making process of BCR.
- Explain cost concepts it is relevant for the company to be aware of in decision situations such as. offer costs, uninterrupted costs, come-and-go costs, reversible and irreversible costs, etc. How can the company include these in specific decision-making situations?Which of the following costs is relevant in decisionmaking? committed costsaccounting costscash costshistorical costsWhich of the following statement is correct for relevant costs? a.It is avoidable, future and measured by cash b.It is avoidable, future and measured by profit c.It is unavoidable, future and measured by cash d.It is unavoidable, future and measured by profit
- Which of the following best defines the concept of a relevant cost? a. A past cost that is the same among alternatives. b. A past cost that differs among alternatives. c. A future cost that is the same among alternatives. d. A future cost that differs among alternatives. e. A cost that is based on past experience.What is the purpose of cost allocation in terms of economic decisions, motivation and justifying costs? Answer in 250 words.Explain the following basic principles in cost management:a. profitsb. life cycle costsc. tangible cost and benefitsd. intangible costs and benefitse. direct and indirect costsf. reserves
