difference between absorption costing and variable costing

Q: What type of cost drivers do modern costing systems use and how does it differ from the cost drivers…

A: Cost Driver Business activities are  influenced by a cost driver . Cost drivers are the factors…

Q: Define opportunity costs and explain why they represent acommon source of error in making cost…

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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: Define and give examples of the following terms: cost pool, cost object, and cost allocation (or…

A: Responsibility accounting: Responsibility refers to the several concepts and tools used by managers…

Q: Cost estimation is the process of   a. Summarizing pwst costs into fixed variable components.…

A: Solution: Cost estimation is the process of "Estimating the relationship between costs and the costs…

Q: Marginal Costing

A: Option a is wrong because marginal costing is not a technique of cost reduction. Cost reduction…

Q: A graph that provides a visual representation of the relationship between total cost and activity…

A: The scattergraph provides a visual depiction of how changes in one variable may be connected to…

Q: Cost classifications used for predicting cost behavior include: Multiple Choice Variable cost and…

A: Variable costs are the costs that varies with the change in output but per unit variable cost…

Q: The intercept (straight line) on a graph of the linear cost function represents ....... cost

A: The cost function depicts the costs that will be incurred at various levels of activity Cost…

Q: The best allocation base for a cost pool would be the one:

A: Cost pools are often formed to simplify the cost allocation process and to guarantee that related…

Q: Explain the difference between the variable and absorption costing methods.

A: Under Variable Costing method, only variable costs are considered which includes only variable cost…

Q: A total cost equation can be used to predict future costs for various activity levels. Write the…

A: Concept The total cost is the sum of variable cost and fixed cost incurred For example if variable…

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: еВook Print Item Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 20Y1…

A: Absorption costing incorporates the entirety of the immediate expenses related with assembling an…

Q: Estimate the cost equation using the high-low method, and draw this line on your graph.

A: Calculate the difference between the highest and lowest observation as follows: The difference in…

Q: Using the high-low method, determine the cost function for each cost?

A: High low method of cost estimation says that costs at highest level and lowest level are to be taken…

Q: Q- 8: opportunity cost, and sunk cost. Define the following terms: differential cost,

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Q: Distinguish betweenproduct costs and periodcosts and give examplesof each.

A: Product cost: The product cost relates to the manufacturing costs such as direct material, direct…

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: task order price system, explain the importance of unit cost

A: Task order price system is a system in which performance of tasks are priced based on the value of…

Q: Summary, identify and relate the concepts of costs variable, step-variable, fixed, step-fixed,…

A: Answer:-  Cost meaning:- Cost is the sum money that a business spends on the development or…

Q: Define the following terms, and explain the relationship between them: (a) cost estimation, (b) cost…

A: Cost:   Cost can be defined as the cash and cash equivalent which is incurred against the products…

Q: Define and discuss the difference between indirect and direct cost. Provide an example of each.

A: Direct costs are expenses for manufacturing and selling products. Direct costs include the cost of…

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: Question Content Area Which of the following graphs in Figure 1 illustrates the behavior of a total…

A: Dear student, below is the answer to your question along with a detailed explanation:Part 1:…

Q: Write the general formula for cost-plus pricing, and briefly explain its use.

A: Cost-plus pricing: It can be defined as the pricing strategy which includes the determination of the…

Q: Please specify and explain the average cost answers.

A: Average cost method assign the cost to inventory item on based on total cost of inventory dividend…

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: Find the cost formula using the Scattergraph method

A: Scatter plot: It is a type of plot or mathematical diagram using Cartesian coordinates to display…

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…