What are the main features of JIT production, and what are its benefits and costs?

Q: Give me a model How Efficient is the Engineering Estimation Technique for Cost Estimation?

A: At whatever point we build up a product project, principle addresses that emerge to us is the amount…

Q: What risks exist in a production conversion cycle?

A: The following are some of the risks that exists in the conversion cycle:   Authorization of…

Q: What is the advantages and disadvantages of turnkey systems?

A: Introduction; A turnkey system is when the company develops, builds, and tests a manufacturing…

Q: What exactly are ESOPs? What are some of its benefits and drawbacks?

A: Introduction: ESOP: Employee stock ownership plan is retirement plans for employees of the company…

Q: What are value drivers?

A: Answer: The basic determinants of the cash flows of a project or primary factors in project…

Q: What is meant by a product’s contribution margin ratio? How is this ratio useful in planningbusiness…

A: Contribution Margin Ratio: The contribution margin ratio shows the amount of difference in the…

Q: What is meant by aggregate productivity, and what are its limitations?

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Q: What are the main costs and limitations of implementing ABC systems?

A: Activity Based Costing: Activity based costing is one of the methods of costing to identify the…

Q: What is a cost driver? Give one example?

A: Cost: Cost refers to expenses incurred by the business to earn revenue from sales, in other words…

Q: Why do engineers need cost data?

A: The question is based on the concept of cost in engineering projects.

Q: What is a component cost?

A: The most granular description of element costs is the cost components.  Types of cost components are…

Q: What is a cost driver?

A: A cost driver is a concept used in management accounting. The cost of specific business operations…

Q: What is the cost principle?

A: Cost Principle:Cost principle requires recording of assets and liabilities on the balance sheet of…

Q: What are the advantages and disadvantages of  LIFO?

A: Last-in-First-Out: In Last-in-First Out method, the costs of last purchased items are considered as…

Q: What is the nature of research and development costs?

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Q: What is this cost allocation?

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: How is life-cycle-cost analysis useful?

A: Life Cycle Costing (LCC) is a process of accounting which is used by the owner or management of an…

Q: What does it mean to externalize costs?

A: Externalizing costs means generating profits by reducing the indirect costs by imposing them on…

Q: What is a standard cost? Explain? Give an example?

A: Standard Cost: Standard cost is the benchmark amount of per unit product, per unit input or per unit…

Q: Describe the potential costs and benefits of LBOs?

A: LBO is the acquisition method where the company used to use the borrowed money in order to acquire…

Q: What are the benefits and drawbacks of turnkey systems?

A: Here is the Answer

Q: How may batch processing be used to improve operational efficiency?

A: Batch Processing: Batch processing refers to as a process involving multiple transactions which are…

Q: What are the two types of cost centers used in GPK? Explain the difference.

A: GPK is a costing method uses marginal costing method for planning and cost control

Q: What are the prime costs? Conversion costs?

A: Prime cost: Prime cost includes cost which are related to direcly production of Finished goods. This…

Q: How do strategic factors affect the proper use of relevant cost analysis?

A: Relevant cost analysis is the process of identifying the incremental cost and benefits of deciding…

Q: are measures of activities that require the use of resources and thereby cause costs Value Chain…

A: Solution: Cost drivers are measure of activities that requires the use of resources and thereby…

Q: What exactly are the advantages and disadvantages of turnkey systems?

A: Here are the advantages and disadvantages of turnkey systems:

Q: What are the three viewpoints of product life cycle? How do they differ?

A: Product life cycle (PLC) is that the cycle through which each product goes through from introduction…

Q: What is product costs? Give an example?

A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

Q: How are cost structures fundamentally different between the traditional and computer-integrated…

A: Sales order starts the manufacturing process under a traditional manufacturing environment. The…

Q: What is an enterprise resource planning (ERP) system? What are the advantages and disadvantages of…

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Q: How can we determine the equivalent benefits as well as the equivalent costs.?

A: The annual cost of an asset maintenance before the replacement cost arises is known as equivalent…

Q: Define research and development and what are its representative cost driver?

A: Cost drivers: It refers to the object or things which affect the costs of a business. For example,…

Q: How does automation help achieve manufacturing flexibility?

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Q: Explain cost constraint and materiality constraint by giving your own examples.

A: Accounting constraints under the accounting field are boundaries or guidelines which are followed…

Q: what are the advantages and disadvantages of ABC costing

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