1. Select two decisions-one common to a manufacturer and the other common to a service organization-and give two examples of irrelevant future costs for each decision. Why are they irrelevant.

Q: How important is it to trace costs appropriately?  Explain. As you are beginning to think about the…

A: Solution:- 1)Discussion of How important is it to trace costs appropriately as follows under:-…

Q: If the organization operates at an activity level outside the relevant range, any cost predictions…

A: Answer:-  Relevant range meaning:- The term "relevant range" describes a particular activity level…

Q: What is a product cost? What is a period cost? What is the difference and why is it important to…

A: Product cost refers to all costs directly pertaining to the production of a product. While, Period…

Q: Which of the following best describes an "opportunity cost"?     Expected future costs that differ…

A: Introduction: Opportunity cost: Cost for the opportunity lost called opportunity cost.

Q: Explain the difference between full absorption costing and direct costing. How does absorption…

A: Full absorption costing and direct costing are two different approaches to calculating the cost of…

Q: Define incremental cost, opportunity cost, and sunk cost. How do these costs impact decision-making?…

A: Incremental Cost: Incremental cost is the additional cost incurred to produce one additional…

Q: What is the difference between a direct cost and an opportunity cost.  Can you show the difference…

A: Direct cost and opportunity cost are two types of costs used in cost accounting.

Q: Which of the following is not a factor to consider when deciding whether to accept a special order?…

A: It is the process of making decisions that involve the management of costs in order to achieve…

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: Which costs assignment method would you use to assign prime costs to a product: a.direct tracing…

A: Prime cost: prime cost is total of direct cost that is direct material, direct labor and direct…

Q: Is there a difference between relevant costs and incremental costs? Explain

A: Relevant cost: Relevant cost is the cost which is relevant in decision making of a project, and…

Q: n a decision analysis situation, which one of the following costs is generally not relevant to the…

A: Decision making is the process used to choose one of the various available alternatives. Examples of…

Q: A cost that has previously been incurred and can not be recovered by choosing one alternative over…

A: Allocated cost: Expenses assigned to a particular department or project.Fixed cost: Expenses that…

Q: Each incorrect answer cancels out each correcr one. Indicate which of the following statements are…

A: 1. Indirect costs are those factors whose increase or decrease is not related to changes in the…

Q: not easily traceable and are allocated to a cost object u not abbreviate or add any extra spacing in…

A: Direct costs refer to those expenses which can be directly related to a product or a service.

Q: Which of the following cost behaviors cannot be accurately represented by a single straight line? A.…

A: Cost behaviours break down into four expense classifications as follows…

Q: Which of the following statements is true of ABC systems? A) ABC systems are time-driven cost…

A: Activity-based costing (ABC) is a method of assigning overhead based on activities, which are…

Q: Identify each of these costs as fixed, variable, or mixed.

A: