How do companies figure out past costs and the learning phenomenon that applies to them or if they will need to up the costs compared to the last product?

Q: w could MIN() and MAX()In excell benefit a small business?  Create an example where knowing such…

A: Min and Max are two excel formulas used to determine the Minimum and maximum value from the lot…

Q: What are the differences between a company using absorption costing and variable costing when they…

A: Absorption Costing : It is one of the methods of calculation of product costs. Under this method,…

Q: he management wants to know about the cost behaviour and how to classify the cost according to its…

A: Cost behaviour refers to an aspect which helps in indicating the change incurred in costs when there…

Q: Why do firms not have sunk costs over time? How should managers approach sunk costs when deciding…

A: Answer:-  Sunk cost meaning:- Money which has been already spent and cannot be recouped is known as…

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: Which of the following best describes an "opportunity cost"?     Expected future costs that differ…

A: Introduction: Opportunity cost: Cost for the opportunity lost called opportunity cost.

Q: The environmental management plan considers the environmental and social impacts and: Group of…

A: The objective of the question is to understand the considerations of an environmental management…

Q: What is opportunity cost and how does it affect the decision-making process for business decisions?

A: Discuss the opportunity cost and the way how it affects the decision making process for business…

Q: Does using cost volume profit sensitivity analysis have any drawbacks or possible negative impacts…

A: Cost volume profit analysis is used to control or monitor a sensitive analysis which depicts changes…

Q: Directions: For each situation, select one option you think will help increase profit. Put the…

A: There are various means to attract the customer. Also the company takes various steps to decrease…

Q: Explain why is important for a business to understand their composite mix of products when…

A: Sales mix is the proportion of sales in quantity with respect to total sales quantity. It is…

Q: Most people view is worth bearing. due to technological change as a necessary cost that Select the…

A: Answer: Correct options are (a) and (c).

Q: For the reader's advantage, provide a cost-benefit analysis of the project. How can the value of a…

A: An analysis is a systematic procedure used by businesses to determine which decisions to make and…

Q: Cost calculation

A: Cost is the amount incurred in production of product, carrying out a process, conduct of sales or…

Q: Why do most companies use normal or standard costing? After all, actual costing gives the actual…

A: The standard costing is a costing system that is used to estimate the expenses of the production…

Q: Explain the three advantages of using marginal costing as the basis of providing managers with…

A: It is a technique of costing. Here we calculate marginal costs. The marginal cost is the cost of…

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 questions should managers answer when considering selling a product as is or processing…

A: Sell or process further decision rule: Sell or process further decision rule states that "if the…

Q: profit margin,

A: In simple words, profit margin refers to the amount of profit that a company makes on its sales. If…

Q: Why is it important to fully understand the cost associated with each item you sell or each service…

A: Cost defines as the total expenditure incurred in the making of any finished product and the total…

Q: lease identify what types of companies would use market-based pricing versus what type of companies…

A: Market-based pricing refers to the pricing strategy that is based on the market environment.…

Q: What is an advantage of using historical costs on a financial statement?   Group of answer choices…

A: In this question, we are required to determine the advantage of using historical costs in a…

Q: In your own words, explain what differential costs mean. How are fixed costs and variable costs…

A: The cost can be classified on the basis of nature variable or fixed. The variable cost are directly…

Q: List the advantages and disadvantages of different types of business. Explain the various costs…

A: Business organization refers to the formation of an entity with an objective to have higher profits…

Q: The concerns that encourage management to look at the life- cycle costing are? 1.Opportunity Costs…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : What…

Q: Does your current/future company price discriminate? Explain how the practice works (direct or…

A: Price discrimination is a market strategy in which the vendor charges varying prices for the same…

Q: Why would staff costs increase with increase in revenue?

A: We have to explain why staff costs would increase with increase in revenue.

Q: Standard cost system provides companies with a number of advantage and argue the statment

A: Standard Cost:   A standard cost accounting refers to a cost accounting method used by a company as…