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Q: Explain the term budgeted costs.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: How I can calculate the gross margin?

A: Gross margin formula Sale-Cost of goods sold

Q: compensation in commodatum.

A: Commodatum is nothing but a roman law which states that commodatum is an agreement which is a type…

Q: Define construction in progress.

A:

Q: What Are features and differences between cost accounting and management accounting?

A: Cost accounting: Cost accounting refers to the branch of accounting, that records and analyses the…

Q: What would be the outputs for the given assumptions:   Total revenue: Total costs: Total profit:

A: Break Even Point is that point at which there is no profit & loss would arise. At break even…

Q: What is the standard cost income statement?

A:

Q: Discuss what the contribution margin is and how it is used.

A: Contribution margin is an excess amount of selling price of a product over the variable costs. In…

Q: Describe analyzing of profit using contribution margin.

A: The contribution margin ratio is the percentage of difference in a company's sales and variable…

Q: Define Average collection period.

A: Definition:   Accounts receivable turnover: This is the ratio which analyzes the number of times…

Q: Discuss cost-benefit analysis and financial analysis tools

A: Answer: Cost-benefit analysis: It is nothing but a process of decision making that balances the…

Q: Describe techniques of percentage analysis

A: Percentage analysis: It is a method to denotes raw streams of numbers as a percentage for well…

Q: How cost accounting covers the problem of price assessment

A: Cost Accounting Cost accounting is also a form of group action accounting that aims to capture a…

Q: Why do engineers need cost data?

A: The question is based on the concept of cost in engineering projects.

Q: Discuss theissues involved in managing returns.

A: In business scenario, returns and allowances are frequent and common place events. An entity…

Q: Distinguish between a cost center, a profit center, and an investment center

A: Definition: Responsibility center: A department or unit of a corporation where the management…

Q: What is the meaning of contribution margin ratio? How is this ratio useful in planning…

A:

Q: Define recruiting and what are its representative cost driver?

A: Recruiting:Recruiting is the process of hiring qualified employees to make them work for the…

Q: Explain Pass-Through Rates, Yields, and Servicing Fee?

A: Pass-through rateA rate of interest being paid to the investors on the securitized asset after…

Q: What is the purpose of Classifying Costs for Financial Statement?

A: Cost Classifications helps the management in analysing the overall effect on the assets and…

Q: Define basic earning power (BEP) ratio

A: The formula to compute basis earning power ratio as follows:

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: Draw up a marginal statement that calculates the contribution per uni

A: Marginal costing seems to be a costing method whereby all variable expenses are included in the…