Give an example of a common resource in an organization. List some of the opportunity costs associated with using the resource. Why might allocation of the cost of the common resource to its users be useful?

Q: Explain how the activity resource usage model is used in assessing relevancy.

A: Decision making is an important component of every single business. The end results of the…

Q: Are joint cost allocations useful? If they are, for what purpose?

A: Definition: Joint cost: The total costs incurred prior to the split-off point where the joint…

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: Explain whether the organization would produce the information when the expected costs is higher…

A:

Q: Why is it important to distinguish flexible and committed resources?

A: The economic elements that allow one to perform activities are referred to as the resources.…

Q: How do you calculate enterprise value?

A: Enterprise value is the measure of the total value of the company. It gives aggregate value of the…

Q: Responsibility centers typically involve cost, profit, and investment centers. What is the basic…

A: A responsibility center is a functional entity within a company with its own aims and objectives,…

Q: How cost accounting is useful for external user as Government ,and customer etc.support your answer…

A: Cost accounting system is a framework that guides the firm to calculate their cost and helps in…

Q: What is the primary purpose of a cost center? A) To generate revenue B) To control cost C) To manage…

A: In a centralized environment, control moves from task control to results control. In a task control…

Q: In which of the following centers are managers responsible for controlling costs and generating…

A: The question is asking to identify the type of center in an organization where the managers are…

Q: What is value-based management and how is it used?

A: The company finds the value of the company by discounting the cash flows occurring in the future.…

Q: Discuss the characteristics and costs of useful information. What makes information useful and what…

A: Accounting information is broad in nature and should be structured to meet the information needs of…

Q: What is the meaning behind cost of acquisition? Please explain and provide an example.

A: By tracking the cost of acquisition, businesses can assess the profitability of their marketing…

Q: Why does dual cost allocation improve the resulting allocation of service department costs?

A: Dual Cost Allocation segregates total costs into two parts Fixed Costs. Variable Costs. Each…

Q: A cost objective is the: O reason for allocating the cost O product, service, or department that is…

A: Cost object is the allocation related to the product, service. It allocate the cost according to the…

Q: What is the nature of research and development costs?

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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: What is an opportunity cost and why should it be included when making decisions?

A: Opportunity costs is the costs of next best alternative foregone by accepting current alternative.…

Q: What is the nature of cost management and how beneficial it is for the business?

A: Introduction:   Cost management is the process of planning and controlling a business's running…

Q: How are joint costs allocated? Explain and analyze using numerical example.

A: Joint Costs In business different costs are incurred in the production process, but in certain…

Q: w product cost information is use

A: Product Cost: Product costs are costs that are incurred to make a product that's intended available…

Q: What is Return On Investment? Analyze the use of ROI and the impact that it has within an…

A: Return on investment (ROI) is a metric that evaluates the success of an investment by comparing the…

Q: What is the relationship between contribution margin and responsibility margin? Explain how each of…

A: Contribution Margin: The contribution margin is the excess of selling price over the variable costs…

Q: Why is the contribution margin an important concept forincremental decision making?

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Q: Explain how accountancy is helpful in the efficient allocation of scarce resources in an economy.

A: Accountancy is the practice of recording, measurement and processing of transactions of a business…

Q: How cost accounting is useful for external user as Government ,and customer etc,support your answer…

A: Cost accounting gives complete details of the cost incurred in the manufacturing of the product and…

Q: brenchmarking to improve an organizations performance

A: Benchmarking is the method of fixing standards for evaluating the performance of the business entity…

Q: are measures of activities that require the use of resources and thereby cause costs Value Chain…

A: Solution: Cost drivers are measure of activities that requires the use of resources and thereby…

Q: Describe the earned value management terms.

A: Introduction: The concept of earned value management  is an important tool both for the manager…