Questions: a. What is the net income under variable costing method? b. What is the net income under absorption costing method?

Q: RUE OR FALSE Net income under GAAP highlights differences between variable and fixed costs.

A: Answer:   Net income under GAAP highlights differences between variable and fixed costs.   The…

Q: how does the contribution margin pricing method differ from ratio pricing method?

A: The question is based on the concept of pricing policy and methods. The product's price can be…

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: ost flow methods and assumptions. What

A: The different cost flow methods and assumptions are as follows: FIFO LIFO Weighted average

Q: Which method results in a more realistic amount for income because it matches the most current costs…

A: The current costs is based on the purchasing of the latest products which means the having book…

Q: La Lisa uses FIFO for inventory costing: Beginning Inventory 300 units Units Produced 600 Units Sold…

A: The main difference between the absorption costing and variable costing is the treatment of fixed…

Q: List the most important assumptions of cost-volume-profit analysis.

A: Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining that how any…

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: What is the difference between a direct cost and an opportunity cost.  Can you show the difference…

A: Direct cost and opportunity cost are two types of costs used in cost accounting.

Q: discuss the advantages and disadvantages of residual income

A: INTRODUCTION: The excess of net income over the required minimum return is known as residual income.…

Q: What effect do minor deviations from the EOQ have on totalinventory cost?

A: Minor variations from the EOQ will not in general highly affect the total inventory cost except if…

Q: What is the difference between Cost-Volume Profit graph and Profit-Volume graph?

A: Introduction:- Cost-Volume Profit graph displays the relationship between the cost of units…

Q: What is variable costing? How does it differ from absorpotion costing? Which can better be used to…

A: Variable Costing is a costing method where variable expenses change in proportion with production.…

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: Is there a difference between relevant costs and incremental costs? Explain

A: Relevant cost: Relevant cost is the cost which is relevant in decision making of a project, and…

Q: iable costs in the context of cost-volume-profit (CPV) analysis?  b. Fixed costs in the context of…

A: Cost volume profit analysis is very important for the companies because it tells them that whether…

Q: ow do I prepare an income statement based on variable co

A: In managerial accounting, variable costing is a cost concept. During the creation of a product…

Q: Question 1 Peterman Inc. provides an automobile to Ms. Winters for her to use in carrying out her…

A: Common examples of taxable perks include gym memberships, transit passes, boarding, lodging,…

Q: What is the standard cost income statement? Give an example?

A: Meaning of Standard cost income statement:A standard cost is the estimated cost of production based…

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

A:

Q: Describe the account analysis method for estimating a cost function.

A: Definition:   Account Analysis Method: The account analysis method of estimating a cost function…

Q: How are costs assigned differently using the average cost method?

A: Inventory valuation is the valuation of inventory at the time of its purchase and sale using…

Q: Why are the terms direct costs and indirect costs independent of the terms fixed costs and variable…

A: The terms "direct costs" and "indirect costs" are independent of the terms "fixed costs" and…

Q: What is a relationship between fixed, variable and semi-variable cost?

A: Cost can be defined as the amount incurred upon the production of goods and services for the final…

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: What are the three primary cost flow assumptions? How does the specific identification method differ…

A: Inventory: Inventory refers to the stock of goods purchased, utilized and maintained by the company…

Q: 2. The following total cost graphs indicate which type of cost behavior? A. VARIABLE COST B. FIXED…

A: Cost behavior refers to how costs change as the level of activity or output changes within a…

Q: How should mixed costs be classified in cost, volume, and profit analysis?

A: Based on the cost behaviour costs are classified as fixed costs , variable costs and mixed costs.…

Q: be considered

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

Q: Can you label revenue, loss, total costs, dollars, variable cost, and fixed cost on the provided…

A: Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining how any type of…

Q: Identify two ways in which a contribution margin income statement differs in format from a…

A: Contribution margin income statements are those that reflect the contribution amount that remains…

Q: What are “initial direct costs” and how are they accountedfor?

A:

Q: What is the cost-volume-profit analysis and how can it be used for decisin making

A: Cost-volume-profit (CVP) analysis is a financial management tool that helps businesses understand…

Q: Give an evaluation or comment in the direct and indirect cost of the table

A: Direct costs and indirect costs are two types of expenses incurred by businesses or organizations.…

Q: What is the equation to find Contribution Margin?

A: Contribution margin:   Contribution margin refers to the process or theory that is used to judge the…