Costs maybe classified in a different type of behavioural costs such as variable and fixed costs according to their nature and usage. Variable costs are controllable, on contrary fixed costs are not’. Do you agree with this statement? Why?

Q: Is

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Q: Controllability has little to do with whether a cost is fixed or variable.  Select one: True False

A: Fixed cost is the cost that is related to the production of a good or services. It is the amount…

Q: Is corrective action always necessary when actual costs are higher than standard costs

A: A company which manufactures products and goods keeps a sharp eye on its costs. When the actual cost…

Q: Why do managers consider Direct Coasts to be more accurate than Indirect  Costs?  How do managers…

A: Direct costs are the costs which are directly identifiable in the manufacturing process.  Indirect…

Q: The advantages of standard costing exceeds its disadvantages. True or false? Explain further

A: Standard Costing The primary purpose of implementing the cost accounting system to any organisation…

Q: 1.Discuss sunk costs and opportunity cost.

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Ibra Company is considering the following alternatives: Alternative A Alternative B Revenues OMR…

A: We know that, Incremental profit = incremental sales - incremental total cost Total cost = total…

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: Sunk costs are easy to spot---they're the fixed costs associated with a decision. Do you agree?…

A: Suck Cost: a cost that has already been spent but cannot be recouped; this kind of expense is…

Q: 3. Which of the following is correct regarding a relevant range? a Total variable costs will not…

A: A Relevant Range is the Range of Activity above which the Variable Cost Per Unit and The Total Fixed…

Q: There can be no differential costs if the expenses are fixed. Is that what you're saying? Explain.

A: Variable and differential costs: What are they used for, and what do they mean: When two options…

Q: Explain the difference between fixed cost and variable cost? Support your answer with examples

A: Cost:   It is the economic value of resources incurred by a firm to manufacture a product or render…

Q: How do managers decide whether a cost is avariable or a fixed cost?

A: Cost refers to the amount of money incurred for acquiring a product or manufacturing a product. Cost…

Q: What is the economic rationale for the cost approach? Under what conditions would the cost approach…

A: Answer: Economic rationale for cost approach: The cost approach means that the person who is…

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 relevant range? How does fixed costs and variable costs behave outside the relevant…

A: Relevant range refers to the level of the activity which represents the maximum and minimum limits…

Q: What is meant by an activity base when dealing with variable costs? Give several examples of…

A: Note: Since you have posted multiple questions, we will solve the first question. Please submit a…

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: Cost allocation is arbitrary, so there is nothing gained by it. We should report only the costs that…

A: Cost allocation refers to the process of distributing the single cost among various companies,…

Q: According to our authors, explain the concept of “lower-of-cost-or-market.”

A: When a company prepares its financial statement, it reports certain items in the financial statement…

Q: What is the correlation between fixed, variable, and semi-variable costs??

A: Introduction:- Fixed Costs – Costs are same irrespective of the number of output produced Variable…

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: Why is fixed costs changing?

A: In the given problem some estimates related to selling price and cost to be incurred are given and…

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: In order to have differential costs, only variable costs are allowed. Do you think so? Explain.

A: In case of different alternatives available for production, the difference between two alternatives…

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: One cost that is irrelevant in decision making is a sunk cost Group of answer choices True False

A: Sunk costs are those costs that are already incurred and it is irrelevant for the decision-making as…

Q: Understand thedifferences between variablecosts and fixed costs.

A: Fixed costs are those costs which remain fixed regardless of output but variable costs are those…

Q: In incremental analysis, only relevant costs are considered when making a decision among…

A: These are the cost that are specific, pertinent and relevant to a particular decision making of…

Q: Understand and apply the lower-of-cost-or-market rule.

A: Cost: It is the economic value incurred by an organization to produce a product or render a service.

Q: How is uniform cost search different from plain BFS?

A: UCS : Uniform Cost Search is an uninformed search algorithm. It cannot deal with a heuristic…

Q: be considered

A: The phrase "mixed costs" in accounting refers to costs and expenses that include two components:…