C-V-P

Q: Compare variable and fixed expenses.

A: Variable expenses are the expenses which change proportionately with a change in the activity…

Q: Imagine: this is the factory for making bicycles |||| Assume monthly rent is $100,000 How much will…

A: Fixed costs: Fixed costs are those costs which do not change according to the level of activity. It…

Q: My question is asking the amount of the total variable expense. Please help.

A: Variable expenses are those which do not remain constant. These expense keeps on varying with the…

Q: EXPLAIN THE FOLLOWING: 1. Gross profit variation 2. Cost concept

A: The amount of profit earned by the entity after deducting the costs that are related to the…

Q: What is the cost measurement? cost accumulation? what is the difference between the two?

A: Cost is the monetary value of an item or a service. While producing an item, there may be various…

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: COSTING METHOD. 1. What is average cost method? 2. What is FIFO cost method?

A: Solution: 1.   Average cost method: Average cost method is also known as weighted average method.…

Q: Which costs make up “prime” costs？

A: Prime cost is that cost, which is directly concerned with the product such as direct material,…

Q: how much is the prime cost?

A: Prime cost: It can be defined as the total of all the costs incurred on direct labor and direct…

Q: Holiday Company produces dog food. All direct materials are entered at the beginning of process.…

A: Process costing is used where there are many processes in the same line of business for…

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: What are “initial direct costs” and how are they accountedfor?

A:

Q: Money Management Activities and Personal Financial Statement Life Situation Single Age 21 No…

A: The two variations of expenses are the fixed expenses and the variable expenses. Fixed expenses are…

Q: What is meant by incremental revenue or incremental cos

A: Incremental Revenue Incremental Revenue means is an additional revenue earned from selling one…

Q: Clopack Company manufactures one product that goes through one processing department called Mixing.…

A: The equivalent units are calculated on the basis of the percentage of the work completed during the…

Q: 3. What do you mean by fixed cost and variable cost.

A: Costs: Costs are something that is incurred when a unit product is produced or when certain services…

Q: What is recalculated cost?

A: Cost: It implies to the amount that is paid or spent on a specified task or activity. It indicates…

Q: What are direct out-of-pocket costs

A: There are various types of costs, some of which may be reimbursed and others that may not be. Direct…

Q: Are variable costs always relevant costs? Explain.

A:

Q: What does it mean that a cost is a direct, product, and variable cost?

A: The cost represents the value incurred by the corporation in making the product ready to sell in the…