BSBA Company produced joint products M. Nand O from same raw materials with total joint costs P35.000. Other data are as follows: Quantity Produced in units (1.500: 2.500; 1.000); Unit Market value at spit-off (P6: P10; P8): Final unit selling price (P10, P12. P15): Additional costs after split off (P3.000: P2.000; P5.000): Quantity Sold (1.200: 2.000: 800). Under which method Product N showed greatest amount of gross profit? Physical output method Market value at split off method Net realizable value method O None of the above BSBA Company produced joint products M, Nand O from same raw materials with total joint costs P35,000. Other data are as follows: Quantity Produced in units (1.500; 2,500; 1.000): Unit Market value at split-off (P6: P10; P8); Final unit selling price (P10, P12, P15): Additional costs after split off (P3,000; P2.000; P5,000): Ouantity Sold (1.200: 2.000: 800). Under which method Product O showed greatest amount of gross profit? O Physical output method O Market value at split off method Net realizable value method None of the above

Q: 6. What the effect of JIT Systems on Product Costing?

A: Just-in-time, or JIT, is a technique of inventory management or control in which labor, materials,…

Q: ost flow methods and assumptions. What

A: The different cost flow methods and assumptions are as follows: FIFO LIFO Weighted average

Q: what is an indirect cost and how is it different than a direct cost?

A: Indirect Cost: Indirect costs are the costs of doing business that are not easily identified with a…

Q: Positivity Enterprises accounted for noncurrent assets using the revaluation model. On September 1,…

A: As per IFRS 5 Non current assets held for sale and discontinued operation The revaluation of asset…

Q: What are some factors that affect variable costs?

A: Variable costs: A variable cost is a business expenditure that varies in proportion to manufacturing…

Q: Explain the difference between direct costs and indirect cost

A: Direct cost is the cost incurred by the organization while performing their center business process…

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: 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: Standard costing improves the control functions” discuss this statement give some examples.

A: Standard Costing: It is the accounting system in which standard cost is measured with actual cost to…

Q: Why is it necessary to distinguish between variable and fixed costs when dealing with mixed costs

A: Introduction:- Every Business expenses are classified as either fixed or variable costs. on other…

Q: What is the difference between a linear and a nonlinear cost function? Give an example of each type…

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: Explain variable overhead costs.

A: Variable Costing: “Variable costing is a method that allocates only variable manufacturing costs to…

Q: relevant and irrelevant cost

A: Relevant and irrelevant costs are categories of costs based on their effect on decision making.

Q: Explain why it is necessary to classify costs by their behaviour.

A: Lets understand the basics. Basically cost by behaviour means classification of total costs in fixed…

Q: How cost accounting is useful where financial accounting could not be answered. Give any exampleto…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Why do cost systems differ in terms of their level of sophistication

A: A cost system is a systematic framework or approach used by organizations to track, assign, and…

Q: What is a standard cost? Explain? Give an example?

A: Standard Cost: Standard cost is the benchmark amount of per unit product, per unit input or per unit…

Q: What two assumptions are frequently made when estimating a cost function?

A: Cost Function:Cost function represents the basic change that occurs in the total cost due to the…

Q: Explain the difference between a controllable and a noncontrollable cost.

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

Q: What is the difference between total costs and marginal costs?

A: Total cost is the total economic cost of production. Variable cost changes according to the quantity…

Q: What circumstances might create distortions where estimated costs are not an accurate representation…

A: The estimated costs are the costs determined through the estimation process on past…

Q: It is important to understand variable and fixed costs, average expenses, and the overall costs.

A: Introduction: We're only responding to the first three subparts, so if you have a question that…

Q: What connection exists between unit profit and labor costs?

A: A cost is the amount of money that was expended during the production or delivery of a good or…

Q: Explain the Cost of Revenue vs. COGS.

A: INTRODUCTION: All costs and expenses directly associated to the manufacture of goods are included in…

Q: Explain how a cost item can be both a direct cost and an indirect cost.

A: Direct Cost:  Direct Cost means Cost which can be directly allocated to Cost centre/Cost unit. It…

Q: What is product costs? Give an example?

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

Q: What are the three key features of cost accounting?

A: Cost accounting: It is a process of recording of all the costs incurred in the business in a way…