Which costing techniques are related to a predetermined cost as a performance target, and actual performance is measured against this predetermined cost? a. Uniform Costing b. Standard Costing c. Budgetary Control d. Marginal Costing

Q: Vhich of the following statements Is true with regard to activity-based costing? Multiple Cholce…

A: Activity Cost: It is a cost-effective method that identifies the activities in an organization and…

Q: Standard costs differ from budgeted costs in that standard costs are:   a)always expressed in total…

A: Standard costs  -  Standard costs are predetermined costs for evaluating the actual performance of…

Q: 9) Which of the following statements about normal costing is true?   A) Direct costs and indirect…

A: Introduction:- Under the normal costing :- It assign costs to products based on the materials,…

Q: Requirement 1. What are the benefits of setting cost standards? Standard costing helps managers do…

A: Standard costing is a method of costing where the costs are budgeted to enhance the efficiency of…

Q: Differentiate between the mechanisms of an “actual costing” budgetary system against a “normal…

A: Budgetary system is the system which is applied by the company in order to be on track and within…

Q: a. What problems are associated with using the average cost per unit as a performance measure? b.…

A: Average cost per unit only rewards the manager for removing tasks or materials from the process…

Q: The refers to a measure of acceptable performance established by management a guide in making…

A: The answer is option b standards

Q: The difference between actual Cost and standard cost is known as: Variance Profit Differential Cost

A: Standard Cost is the estimated cost expected to be incurred by the company for a particular period…

Q: Explain what is meant by the term management by exception. What is the relationship between the…

A: Management by exception: Under this style of management, employees are allowed to take decisions…

Q: 1. Match cach of the following terms with the appropriate definition. The difference between actual…

A: Different techniques of cost Analysis Importance of cost analysis in the organisation to determine…

Q: With respect to Pricing decision in Cost Accounting, state any 4 situations where pricing below…

A: Pricing decision plays an important role in an product sales and growth where the price of the…

Q: Which of the following statement is true under the Standared Costing System a. Standard cost is a…

A: Solution: Standard costing system is the system of cost estimation in the manufacturing process. It…

Q: 1) Explain how standard costs are established? How do managers evaluate performance using cost…

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

Q: The performance evaluation of a cost center is typically based on its a. sales volume variance. b.…

A:

Q: Which one of the following describes the total overhead variance a. The difference between what was…

A: In the process of determination and charging of overheads it is to be under that overheads cannot be…

Q: a. What problems are associated with using the average cost per unit as a performance measure? b.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: n responsibility accounting the most relevant classification of costs is   discretionary and…

A: Solution: In responsibility accounting, responsibility are fixed at individual and department level.…

Q: Question 4: Define the following:…

A: Variable cost refers to that cost which variate with the variations in the production or sales…

Q: 28. Which of the following must be known about a production process to institute a variable costing…

A:

Q: 1. Compute for the Actual Non-controllable cost. 2. Assume that the top-level management is…

A: These are costs not under the control of a manager. Such costs are to be ignored while making…

Q: Which of the following statements is true with regard to activity-based costing?   Multiple Choice…

A: The overhead is applied to the production using various methods as traditional costing and activity…

Q: The variance analysis is used   Ratio Analysis Standard costing Budgetary control Marginal costing

A: Variance analysis is used to estimate the difference between the expected value and the actual…

Q: The following items are some of the tools and techniques used in management accounting. - Budgeting…

A: Management accounting is method to calculate and analyze the data in such a way that managers can…

Q: standard cost

A: Standard cost systems are cost accounting systems in which standard is set for each item of cost and…

Q: Which of the following statements is not true regarding the use of variable and absorption costing…

A: Answer:   Option d.

Q: Explain how standard costs are established? How do managers evaluate performance using cost variance…

A: Standard costs are those predetermined costs which the company is expected to incur on goods or…

Q: variance in its report, except

A: A company using direct costing in its performance evaluation would normally include the following…

Q: Which one of the following technique is mostly used for financial analysis and ?interpretation (Lä…

A: The mostly used technique for financial analysis is Ratio Analysis , which means it is method used…

Q: Indicate whether the item below is used as key performance indicators for the areas of (A)…

A: The cost variance is calculated by the difference between the actual cost and the budget cost. Cost…

Q: Costing information can be used for? a. Budget control and evaluation b. Determining standard costs…

A: Costing is process to assign cost to different elements in organisation.

Q: When using a standard cost system what is the report that summarizes actual costs, standard costs,…

A: The correct option with proper explanation are as follows

Q: its own predetermined variable overhead criterion.

A: Please find the answer to the above question below:

Q: To reconcile budgeted profit to actual profit under marginal costing, which variances must be…

A: Marginal Costing is a method of costing, where the marginal cost, the variable cost is charged to…

Q: Réquired: A. Compute the company's total cost variance for variable overhead and fixed overhead if…

A:

Q: 2. Explain the arguments for the use of traditional absorption costing rather   than marginal…

A: 1.  Variance analysis can be summarized as an analysis of the difference between planned and actual…

Q: Which manager would be most responsible for a variance in variable overhead efficiency? a.…

A: Standard cost means the cost which the company is expecting to be incurred on the basis of estimate…

Q: ndicate whether the items below are used as key performance indicators for the areas Quantity…

A: Answer: Balance scorecard is the evaluation of business performance with the help of four different…

Q: Which of the following underlying assumptions form(s) the basis for gross profit variance analysis?…

A: Gross profit is the difference between the sales revenue and cost of goods sold. Gross profit…

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.