1. Distinguish between variable and fixed costs both on a per unit and total basis (graphs may be used to assist in explanation). 2. Identify any three (3) basic assumptions of CVP Analysis. 3. Briefly explain the term sales mix.

Q: Explain the following as approaches to analysing the costs of the logistics function:  (i)…

A: Following are the analysis of costs of logistic functions: 1. Fixed Costs/Variable cost Fixed cost…

Q: Explain Traffic Acquisition Costs (TAC), Other cost of revenues and R&D expenses. Are they fixed or…

A: Cost of revenue refers to the cost which are incurred in generating revenue of a firm. It may…

Q: Cost estimation is the process of   a. Summarizing pwst costs into fixed variable components.…

A: Solution: Cost estimation is the process of "Estimating the relationship between costs and the costs…

Q: Marginal Costing

A: Option a is wrong because marginal costing is not a technique of cost reduction. Cost reduction…

Q: Cost classifications used for predicting cost behavior include: Multiple Choice Variable cost and…

A: Variable costs are the costs that varies with the change in output but per unit variable cost…

Q: Matching Following are a number of key terms and concepts introduced in thechapter, along with a…

A: Cost Accounting is a form of managerial accounting in which all the costs whether variable or fixed…

Q: Which method results in a more realistic amount for income because it matches the most current costs…

A: The current costs is based on the purchasing of the latest products which means the having book…

Q: List the most important assumptions of cost-volume-profit analysis.

A: Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining that how any…

Q: Cost is being classified  in a varity of ways, what benefits can be acquired out of this…

A: Classification by the management in their decision making is significant to help management in the…

Q: A total cost equation can be used to predict future costs for various activity levels. Write the…

A: Concept The total cost is the sum of variable cost and fixed cost incurred For example if variable…

Q: Explain how a scatter graph is used to identify and measure cost behavior.

A: A Scatter graph is a graphical tool that plots activity level on the x-axis and matches total cost…

Q: Describe the difference between the unit-soid approach to the cvp analysis and to the sales revenue…

A:

Q: In cost accounting, differentiate between allowable, allocable, reasonable, and consistent costs.

A: Allowable: A cost is allowable to a project if it meets the following criterias- The costs are…

Q: Briefly explain the concept of economic, profitmaximizing pricing. It may be helpful to use graphs…

A: Pricing decisions: Pricing decisions is one of the most important and required decision for the…

Q: Q1. List the two types of fixed costs and give example. Q2. Present and explain the equation of the…

A: In accounting, the term "cost" refers to the monetary value or expenditure incurred by a business or…

Q: On a cost-volume-profit graph, when the Total Cost line is higher than the Total Revenue line, the…

A: Solution:- Cost-volume-profit graph is the graph which measures the loss, profit and break-even…

Q: 1. Multiple-Choice Question - FIFO When using FIFO, A) Identical costs go to the balance sheet and…

A: FIFO is one of the inventory valuation method being used in business. FIFO means first in first out.…

Q: iable costs in the context of cost-volume-profit (CPV) analysis?  b. Fixed costs in the context of…

A: Cost volume profit analysis is very important for the companies because it tells them that whether…

Q: Search about how different techniques are efficient to estimate cost. – Engineered estimate of cost…

A: Four regular methodologies are utilized to appraise fixed and variable expenses:   Record…

Q: Describe the account analysis method for estimating a cost function.

A: Definition:   Account Analysis Method: The account analysis method of estimating a cost function…

Q: Summary, identify and relate the concepts of costs variable, step-variable, fixed, step-fixed,…

A: Answer:-  Cost meaning:- Cost is the sum money that a business spends on the development or…

Q: Which of the following are assumptions associated with the cost equation? Check all that apply. The…

A: Cost equation means a line or formula which shows both types of cost like fixed costs and variable…

Q: Choose one correct answer by writing down the question number and the letter representing the answer…

A: Costs are classified as direct and indirect costs. Direct costs are a cost which is directly related…

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: . Provide examples of how cost–volume–profit analysis can be used for decision-making. 2. Explain…

A: CVP stands for Cost volume profit analysis refers to finding out how the changes in the fixed costs…

Q: Define the following terms, and explain the relationship between them: (a) cost estimation, (b) cost…

A: Cost:   Cost can be defined as the cash and cash equivalent which is incurred against the products…

Q: 1) Cost-volume relationship states that maximum profit is reached by maximizing revenue. Select one:

A: the correct option with adequate explanation are as follows

Q: On a CVP graph, the intersection of the sales revenue line and the total cost line is known as the:…

A: CVP stands for Cost-Volume-Profit analysis. It is helpful in determining the change in the total…

Q: In CVP Analysis, total costs are defined as costs derived from product costs and period costs. TRUE…

A: Cost-volume-profit analysis is used to determine how the company's profit has been affected due to…

Q: Write the general formula for cost-plus pricing, and briefly explain its use.

A: Cost-plus pricing: It can be defined as the pricing strategy which includes the determination of the…

Q: hich of the following statements related to CVP chart is not true? To determine the variable cost…

A: This option is not true :- E. The intercept between the total cost line on a graph and the y axis…

Q: Which one of the following is another name for product costs? Select one: a. Direct costs b. Period…

A: Product cost means the cost of producing one unit of finished goods.

Q: Which of the following statements is true? Select one: O a. The most complex of the cost estimation…

A: High-low method: It is the method of estimating the variable cost per unit and the fixed costs by…

Q: 2. Distinguish between direct and indirect costs.

A: Costs or expenditure is the amount which is incurred by the manufacturer entity in the production of…

Q: ost, sunk costs or opportunity costs. Keep in mind that one cost can be fall into different…

A: 1) Predicting cost behavior cost classifications Every company incurred the costs in order to…

Q: Discuss the limitations of cost volume profit analysis for planning and decision making.…

A: The question is related to the Cost Volume Profit Analysis. Cost-Volume-Profit (CVP) Analysis is an…

Q: 2. The following total cost graphs indicate which type of cost behavior? A. VARIABLE COST B. FIXED…

A: Cost behavior refers to how costs change as the level of activity or output changes within a…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.