What kinds of challenges occurs in the Cost Control and Cost Reduction in the Manufacturing conce

Q: Cost accounting looks at the company as a whole and not at the various units, jobs or processes.…

A: Cost Accounting is used to ascertain the cost of a product or service in detail. The indirect costs…

Q: Which of the following is an example of a cost item that should be classified as an internal failure…

A: This question deals with the cost of quality or quality cost. Cost of quality means a cost which is…

Q: Each of the following statements is true EXCEPT: Select one: a. traditional product costing systems…

A: Traditional  costing system  involves  allocation  of overhead and cost. It is a reactive approach.…

Q: Why are support department costs difficult to apply to products?

A: Given: The difficulty in applying the support department costs on products.

Q: What qualities of a product have an effect on logistical costs? Examine the influence that these…

A: Logistics is one of the vital part of the supply chain management that has direct relations with the…

Q: First: Activity-based management seeks to eliminate waste by allocating costs to products that waste…

A: Solution: First statement is false as "Activity-based management does not seeks to eliminate waste…

Q: A downside to absorption casting is: A. not including fixed manufacturing overhead in the cost of…

A: Absorption costing demonstrates that all the expenses related to manufacturing a product are…

Q: Explain the Over head cost control  benefits and drawbacks in manufacturing unit.

A: Cost accounting: A branch of accounting that deals with the calculation of the total cost incurred…

Q: Which of the following is not a feature of a process production system?  Repetitive production…

A: Production process system is that which is used for a large level of production and where continuous…

Q: If the activities causing overhead costs are different across different departments and products,…

A: Answer: True

Q: What is the danger in allocating common fixed costs among products or other segments of an…

A: The costs which are not allocated to any specific segment in the business organization are called…

Q: It is ridiculous to suggest that process costing may also be suited to service firms, as services…

A: Process Costing:   It is a method of cost accounting where manufacturing costs are collected and…

Q: You have been asked to install a costing system in a manufacturing company. What practical…

A: The Answer :

Q: A possible disadvantage of the ABC method is: (a) It does not allocate costs to the way production…

A: Definition:   Activity-based method (ABC): The costing method which allocates overheads to the…

Q: “Abnormal rework costs should be charged to a loss account, not to manufacturing overhead.”Do you…

A: Rework:Rework is that type of product that is not satisfy the ultimate needs of the consumer but by…

Q: Why is manufacturing overhead applied to products when product costs are used in making pricing…

A: Definition: Manufacturing Overheads: The cost which is indirectly related to the production is known…

Q: 1 Why are top management support and cross-functional involvement crucial when attempting to…

A: Activity based costing is a method of costing that identifies all the activities happening and being…

Q: Which of the following is false when using ABC in a service industry? analyze operations accumulated…

A: ABC (activity-based costing) seems to be an approach for allocating overhead expenses more…

Q: Qualitative and quantitative factors. Which of the following is not a qualitative factor that Atlas…

A: A make-or-buy decision is a strategic choice made by the management between producing an item…

Q: d in the cost of the product b) that it is not really useful for managerial decisions c) that it…

A: A cost accounting system is a system of accounting that is helpful for the internal management to…

Q: ?Which one of the following is not correct regarding activity-based costing Activity-based costing…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which among the following is not a relevant cost for decision making? a. Cost of producing…

A: Relevant Cost refers to the incremental and avoidable cost of implementing a business decision.…

Q: Why do departmental overhead rates sometimes result in inaccurate product costs?

A:

Q: Which of the following is a false statement about scrap and by-products? Select one: a. Both scrap…

A: Scrap is the incidental residue from material used in production activities that can be recovered…

Q: What kinds of challenges occurs in the Cost Control and Cost Reduction in the Manufacturing…

A: Cost Control is different from cost reduction Cost Control focuses/emphasises on decreasing the…

Q: Discuss the key segregation of duties that should exist in the traditional manufacturing…

A: Segregation of duties is a fundamental component of the company’s long-term risk management and…

Q: tatement is true or false, and correct the false tatement(s): Manufacturing cost is called period…

A: Manufacturing cost is the cost incurred to manufacture units . It includes direct material , direct…

Q: Discuss how traditional methods of allocating overhead to products may not provide a good measure of…

A: The overhead costs are allocated to production using various methods as traditional costing and…

Q: s it true that the direct method is a method of cost allocation that charges costs of service…

A: Direct Method- Direct method refers to the method under which the cost of the service department is…

Q: 1. What are the three primary reasons of using a standard cost system? In a business that routinely…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: In activity-based costing, some manufacturing costs may be excluded from product costs TRUE FALSE

A: Lets understand the basics. Activity based costing is as the name suggest allocate cost based on the…

Q: Are the concepts underlying a relevant-cost analysis still valid in an advanced manufacturing…

A: Activity-based costing: It is a method that helps in finding the activities performed by a company…

Q: Which of the following is NOT a reason for companies to assign costs to products or services? O to…

A: Generally companies will asign costs to products and services for decision making purpose

Q: why service industry not involved production cost and retail industry involve in production cost?

A: In the method of Job costing a particular service is obtained by allocating costs to a distinct…

Q: What features of the cost accounting system would be expected to prevent the omission ofrecording…

A: Cost accounting is the branch of Accountancy associated with the cost of materials used in the…

Q: ?Which of the following costs is not related to a batch-related activity .Compliance costs .a…

A: A batch-related activity refers to the activity that is carried out in batches of units. There are a…

Q: Explain why service companies use different activity bases than manufacturing companies to classify…

A: Service companies are those companies which provide services to their clients  such as…

Q: Direct materials are considered as product costs. *   True   False   Can be true, can be false   I…

A: The manufacturing cost includes the direct and indirect cost incurred on production.

Q: Which of the following statements regarding activity-based costing (ABC) is false?   A.   ABC is…

A: Overheads are the indirect cost involved in the production process of the company. It is charged to…

Q: What is the danger in allocating common fixed costs among product lines or other segmentsof an…

A: Fixed cost: It can be defined as the cost that does not vary with an increase or decrease in the…

Q: ABC generally causes the least amount of cost distortion among products because indirect costs are…

A: Activity-based costing (ABC): Activity-based costing refers to the method of costing where the…