Can you classify the expenses listed as Variable or Fixed Costs

Q: What are transferred in costs? When do they occur?

A: Transferred in costs: Cost that is assigned to partially completed products that have been finished…

Q: Compare variable and fixed expenses.

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

Q: The following information pertains to Vladamir, Inc., for last year: Beginning inventory, units…

A: The question is based on the concept of Cost Accounting.

Q: What is the difference between product costs and period costs?

A: Step 1 Costs incurred for the production of goods is referred to as product cost.  Direct materials,…

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: What modifications are made to the cost classification of product costs in estimating service costs?

A: Cost classification refers to the separation of various expenses into different categories. It is…

Q: Define unavoidable fixed costs.

A: Unavoidable fixed costs are fixed costs which cannot be avoided by discontinuing a product line or…

Q: Label each of the following statements as either true (“T”) or false (“F”). Relevant costs are also…

A: Relevant costs: These costs can be defined as the costs that can be avoided if we choose over option…

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: what are the differences between the FIFO, LIFO, and the average cost?

A: Inventory: It refers to the items held by an organization which were in various forms like raw…

Q: ow do I prepare an income statement based on variable co

A: In managerial accounting, variable costing is a cost concept. During the creation of a product…

Q: For each of the following costs, identify whether it is a Fixed, Variable or Both

A: Introduction to variable cost- Variable cost is one of the costs among fixed cost and semi-variable…

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: How are costs assigned differently using the average cost method?

A: Inventory valuation is the valuation of inventory at the time of its purchase and sale using…

Q: Why is it important to keep track of both direct and indirect costs? How do these costs effect…

A: (a )If we keep a tracking record of direct and indirect costs we can determine the firm's…

Q: Why are the terms direct costs and indirect costs independent of the terms fixed costs and variable…

A: The terms "direct costs" and "indirect costs" are independent of the terms "fixed costs" and…

Q: What type of cost is included in economic costs, but not included in accounting costs?a. Explicit…

A: Economic costs are the costs in which consideration is given to opportunity costs as well.

Q: What is a relationship between fixed, variable and semi-variable cost?

A: Cost can be defined as the amount incurred upon the production of goods and services for the final…

Q: Direct costs can be referred to as fixed costs. True or False?

A: Cost are divided into two parts which are, (1) Direct cost (2) Indirect cost Direct costs are the…

Q: Cost to lease (rent) railroad cars Cost of track and bed (ballast) replacement Diesel fuel costs…

A: Direct cost: A cost implies the payment of cash or the commitment to pay cash in the future for the…

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: In order to analyze the c-v-p relationship , what types of costs should be classified ? Why?

A: C-V-P relationship means the cost volume and profit relationship. This is usually done to recognize…

Q: Sheets & Homes Budget for Costs and Activities For the Year Ended February 28, 2017 Direct materials…

A: Costs are classified into two categories i.e. variable cost and fixed cost. Variable cost has a…

Q: 1 Cost object: Bed 2 Timber acquisition costs 3 board acquisition cost 4 5 6 The cost of acquiring…

A: The question asked to classify the cost items. We need to classify the cost into production, and,…

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: 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: avoidable and unavoidable cost?

A: Costs are the amount incurred for the different purposes of the business. It is defined in monetary…

Q: What is the difference between cost tracing and allocation of costs?

A: 1. COST TRACING : IT IS THE ASSIGNMENT OF DIRECT COSTS TO A PARTICULAR COST OBJECT .    2.…

Q: Explain how the accounting definition of an asset is related to the choice between absorption and…

A: Absorption costing:   Absorption costing is compulsory under Generally Accepted Accounting…

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…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.