Describe two benefits of improving quality.

Q: Explain the difference between observable and hidden quality costs.

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Explain  how absorption costing technique could improve organisational performance

A: In contrast to variable costing, absorption costing considers all of the costs of manufacturing, not…

Q: Describe two potential problems that should be avoided in relevant-cost analysis.

A: Relevant cost are the cost that are linked to specific business decisions. They are a part of…

Q: Explain the meaning of the cost of quality and the classification of the cost of quality

A: Cost accounting system is a framework that guides the firm to calculate their cost and helps in…

Q: Classify the following cost drivers as structural, executional, or operational.

A: Classification of cost derives: Classification 0f the given cost drivers as structural, executional,…

Q: Cost management information should be timely and accurate. Which of these attributes is…

A:

Q: Define Cost effectiveness.

A: Cost effectiveness refers to the examination of both cost and health outcomes of different course of…

Q: What is a system of quality control? Identify the six elements of a system of quality control.

A: System of Quality control in auditing refers that, auditing firm should maintain a system, to ensure…

Q: what is differrance between effectiveness an Efficiency

A:

Q: Give the conclusion in the given cost of quality

A: In the given case the failure costs amount to 56% of total cost of quality ... These costs can be…

Q: Define the two main types of quality expense and how they differ from one another.

A: Quality expense or quality cost do not imply the use of costly or high-quality products in the…

Q: Explain the role of value engineering in target costing.

A: Value engineering’s main motive is to reduce the cost and to provide good quality products that will…

Q: Costs associated with the quality of conformance can be broken down into four broad groups. What are…

A: Quality of conformance refers to the ability of a product or a service to meet its customer…

Q: Discuss the disadvantages of Absorption Costing for cost control and performance evaluation.

A: Absorption Costing: Absorption costing is a method for calculating the full cost or total cost of a…

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: 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 costing system refinement? Describe three guidelines for refinement.

A: Broad averaging is also known as peanut butter cost is a costing approach of distributing the…

Q: Prepare a cost of quality report. Round

A: Quality is not always worth it, especially if it comes at very high cost or with excess buying…

Q: Define the term accelerated cost recovery system (AC RS)?

A: The AC RS is a method of depreciation. It is used for depreciating the property for tax purposes

Q: Explain the difference between a cost standard and an efficiency standard. Give an example of each.

A: Cost standard: This refers to the cost expected to be incurred for a given level of output.…

Q: Identify the output and input variables in both the bottom-up and top-down strategies to cost…

A: Bottom ups of the cost estimate are the most accurate cost estimation process wherein every minute…

Q: Compare and contrast the structured design approach and the object-oriented approach. Which do you…

A: Given question is about the difference between the structured design approach and the object…

Q: Define cost management.

A: Cost management is the process of planning and controlling costs in the right direction so that over…

Q: List as many possible bases of absorption (or 'overhead recovery rates') as you can think of.

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Briefly explain what is meant by the term efficiency continuum.

A: At a given level of the stock market when the stock a company performs extremely well and on the…

Q: A company wants to determine it cost of quality.

A: Answer: Cost of quality is the cost incurred by the company to maintain the quality of the cost of…

Q: Name two items classified as prevention costs.

A:

Q: Define conversion costs with an example?

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

Q: a. Using the data in the table below and calculate the following performance measures

A: Formulas used for M-squared measure, T-squared measure and Appraisal ratio: M-squared measure=Market…

Q: List and describe the four components of the cost of qualityand provide examples of each.

A:

Q: Identify and discuss the four kinds of quality costs.

A: Remediating item gives identified with quality. Quality expenses don't include basically overhauling…

Q: Explain an example of value added cost.

A: value-added costs: A value-added costs  add to the desirability of the product or services in the…

Q: A determination of cost savings is most likely to be an objective of a

A: The answer is as fallows

Q: Describe three guidelines for costing system refinement.?

A: Definition:   Cost system refinement: Cost system refinement associates the overhead cost of…

Q: List and define the four types of quality costs.

A: Definition:   Product costs: Product costs are the costs which are incurred in the production of the…

Q: Define Replacement cost.

A: Replacement cost is defined as the measure of cash required to change the current resource with a…

Q: Explain the strategic role of cost estimation.

A: Cost estimation: Cost estimation is a technique that assist the management for taking strategic…

Q: Explain the benefits of standard costs.

A: Standard costs means budgeted or predetermined cost for a unit of a business. For example, in…

Q: Explain the implementation problems in cost estimation.

A: Cost estimation: It is the development of a defined relationship between cost object and cost…