Q10706771

Estimating costs requires information • analysis, interpretation, decision-making • measurement, creation of data, negotiation • utilization, historical trends, fixed costs • projection, estimation, monitoring Cost structures are used by managers in __________. Group of answer choices planning, control, decision making activity-based costing, relative value unit method, variable cost rating estimating, forecasting, projecting allocating, averaging costs, performance testing Costs that are unique to a particular department, and would disappear if the department was abolished are known as ____. Group of answer choices indirect costs fixed costs direct costs variable As a manager you must consider _______. Group of answer choices benefits vs. costs benefits vs. overhead benefits vs. cost drivers benefits vs. time Even though fixed costs remain the constant, total costs will _______. Group of answer choices vary based on total fixed costs never vary vary based on volume always be more than…

(Management Accounting) When assigning indirect costs to a cost object, an ideal cost-allocation base measures ________. A) the proportion of indirect costs to direct costs B) the extent a particular cost is caused by a cost object C) multiple cost drivers D) the proportion of direct costs to indirect costs

Matching Question: Match the following cost accounting objectives with their corresponding descriptions: A) Cost Control and Reduction B) Budgeting and Planning C) Performance Evaluation 1. Involves comparing actual costs with budgeted costs to assess efficiency. • Answer: 2. Focuses on implementing strategies to manage and minimize costs. • Answer: 3. Provides precise cost estimates for various activities, aiding in effective planning. • Answer: Match each objective with its appropriate description: A)..... B) C)

Cost accounting provides management with a variety of cost classifications that can be used for different decision-making processes. Write your opinion on how management could use each of the following cost classification for decision making: Direct and indirect costs. Fixed, variable, and mixed costs. Period and product costs. Manufacturing and selling costs. Standards and actual costs.

5 Which purpose of cost allocation is used to decide on the selling price for a customized product or service?       Select one: a. to motivate managers and other employees b. to justify costs c. to measure income and assets for reporting to external parties d. to provide information for economic decisions

Q1 What process is used to assign costs in an ABC system? Provide numerical example. Q2 How is relevant quantitative and qualitative information used in special order decisions? Explain and analyze using numerical example.   Cost Accounting

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1. Multiple-Choice Question - FIFO When using FIFO, A) Identical costs go to the balance sheet and the income statement. B) Management uses average costs to assign to the balance sheet and the income statement. C) Older costs go to the income statement; newer costs go to the balance sheet. D) Older costs go to the balance sheet; newer costs go to the income statement. Explain for the answer chosen please.

Question 6.1                                                                                                                    For each item listed, select the appropriate purpose of cost allocation from the list below. A purpose may be used more than once. A - To provide information for economic decisions B - To motivate managers and other employees C - To measure income and assets for reports to external parties D - To justify costs or compute reimbursement amounts

Need help answering question 11 regarding cost allocation

1 To decide on an appropriate selling price for a special-order product” is an example of which cost allocation. Select one: a.To motivate managers and other employees b. To provide information for economic decisions c. To justify costs or compute reimbursement amounts   d. To measure income and assets for reports to external parties