What are possible allocation bases that might be used to allocate costs in a library function to programs (degrees) or students.

Q: Using the direct method, what amount of Warehouse Department costs will be allocated to Department…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Under activity-based costing, selling and administrative expenses may be allocated using which of…

A: Budgeted activity cost is the budgeted cost prepared by the company that would be incurred on…

Q: What is conceptually the most defensible method for allocating support-department costs? Why?

A: Cost Allocation Method: The cost allocation method is the method by which the costs to be assigned…

Q: There are two types of costs originating from the modern agency problem: direct costs and indirect…

A: Costs The expenditure incurred on that is imputable to ascertain the value of a given item is…

Q: Why does support department cost allocation matter to service businesses (such as colleges and…

A: A support department additionally called a service department, offers the types of assistance that…

Q: Define data processing and what are its representative cost driver?

A: Data processing:Data processing generally converts raw data into a desired and used format that can…

Q: Which methods are for setting standards? Choose as many   a)analysis of historical data b)task…

A: Standard costing involves setting-up predetermined cost or expenses estimates. Such predetermined…

Q: ) Give an example of a department corresponding to an investment center, specifying the practical…

A: Give an examle of a department corresponding to an investment centre.

Q: Cost centres is a. Amounts of expenditure attributable to various activities b. Units of product or…

A: cost centre is a department within a business to which costs can be allocated..... Cost centre is…

Q: In choosing the cost pool, the simplest allocation method is

A: In choosing the cost pool, the simplest allocation method is b. Activity center allocation

Q: Function of human resources management

A: Solution- Human resource management (HRM) is nothing but managing human resources. it's the policies…

Q: What journal entry is required to move materials between departments?

A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…

Q: What are support departments, and why are their costs allocated to other departments?  What process…

A: generally supporting departments are the departments that provide services to main departments. so…

Q: What are some reasons to maintain actual costs in line with the budgeted amount? Describe the work…

A: The Answer :

Q: Define and explain the cost management information system's two major subsystems.

A: Cost management information system refers to the system which is related with the manufacturing the…

Q: Give an example of a common resource in an organization. List some of the opportunity costs…

A: Opportunity cost: Opportunity cost refers to the forgone revenue that could have been generated…

Q: Give examples of allocation bases used to allocate support-department cost pools to operating…

A:

Q: Write cost pool, cost driver, activity cost, budgeting.   What are the assumption of CVP analysis?…

A: Answer:  Write cost pool, cost driver, activity cost, budgeting.   Cost Pool is the sum total of…

Q: Another term used for performance audit is * a. Agency activity audit b. Value for money audit c.…

A: A performance audit s an independent assessment of an entity's operations to determine if specific…

Q: Discuss the characteristics and costs of useful information. What makes information useful and what…

A: Accounting information is broad in nature and should be structured to meet the information needs of…

Q: Explain the relationship between the costs of flexible and committed resources, usage of resources,…

A: Cost accounting system: Cost accounting system of an organization consists of procedures and…

Q: Why does dual cost allocation improve the resulting allocation of service department costs?

A: Dual Cost Allocation segregates total costs into two parts Fixed Costs. Variable Costs. Each…

Q: design cost (school logo)" classifiy as indirect or direct expense

A: Direct expense is used directly to produce the product. Indirect expense just supports production or…

Q: Which type of cost center has a planning focus, and which type has an evaluation focus?

A: Cost Center: It is a department within an organization to which costs can be assigned.

Q: What is one objective of an appraisal program? a. having tho

A: What is the one Objective of an appraisal program ? a. having the employee feel more valued  b.…

Q: Explain the concept of “master budget” and critically discuss its benefits to an organization.

A: A budget is an estimation of expenses as well as revenues which will be earned and incurred during…

Q: Explain how the choice of the type of responsibility center (cost, revenue, profit, or investment)…

A:

Q: Define and give examples of the following terms: cost center, revenue center, profit center, and…

A: Responsibility center: It refers to that unit of the organization for which a separate executive is…

Q: explain the cost management information system's two major subsystems

A: The cost management information system's primary goal is to generate outputs for internal users. To…

Q: Which of the following methods recognizes some (but not all) of the services that occur between…

A: Services- It is an intangible thing which can not be seen by any person but anyone can feel it like…

Q: need distrebution the cost of service centers to the production center.

A: Overhead is the cost that is directly involved in the production process of the company. It is…

Q: Match each of the following type of responsibility centers with what all they are accountable for.…

A: Responsibility Center: A business segment whose managers are responsible or accountable for certain…

Q: Describe accounting and presentation for research and development and similar costs.

A: Definition:   Research and development cost: These are the cost that is incurred on the research…

Q: Use an example to explain how a budget could be used to allocate resources in a university.

A: Budget:   Budget is the process of identifying, collecting, and summarizing the financial…

Q: Explain the difference between resource spending and resource usage.

A: Resources: Resources are the economic elements that enable people to carry out activities. A…

Q: Which of the following best describes the activities of the materials management function?a.…

A:

Q: Explain in details what the textbook means by a “cost hierarchy”

A: Expenditure hierarchy is a classification system that assists in the allocation of costs. It helps…

Q: Explain why support costs are allocated to departments.

A: Support Cost:-These are those costs that are not directly attributable to the manufacturing of the…

Q: How can cost accounting be utilized to support healthcare organizational strategic decisions and…

A: Financial accounting and cost accounting are two difference types of accounting. Financial…

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.