se explain the answer thoroughly.  Is this statement "if all the allocation base in the predetermined overhead rate does not drive overhead costs, it will nevertheless provide reasonably accurate unit product costs because of the averaging process." same as this "If the allocation base does not drive the cost of overhead, overhead cost averaging will yield reasonably accurate unit product costs."?  If yes, please let me

Q: explain why GAAP requires full absorption costing (instead of variable costing) if absorption…

A: Introduction:- i)Absorption costing:- Under the absorption costing, The following costs included in…

Q: Is corrective action always necessary when actual costs are higher than standard costs

A: A company which manufactures products and goods keeps a sharp eye on its costs. When the actual cost…

Q: If the organization operates at an activity level outside the relevant range, any cost predictions…

A: Answer:-  Relevant range meaning:- The term "relevant range" describes a particular activity level…

Q: The advantages of standard costing exceeds its disadvantages. True or false? Explain further

A: Standard Costing The primary purpose of implementing the cost accounting system to any organisation…

Q: Marginal costing can provide useful information for decision-making. However, there are limitations…

A: There are various limitations of marginal costing few of them are stated below.

Q: Which of the following is false about activity-based costing?   Implementing an activity-based…

A: Activity-Based Costing (ABC): Under activity-based costing the different cost is assigned to a…

Q: What is a good response to this post? Being that the big difference between the two margins is…

A: POST:Being that the big difference between the two margins is mostly in fixed costs, this plays a…

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: he following statements are incorrect, except a. Cost is the same with expense. b. All costs…

A: Cost accounting refer to the outflow of money for the purpose of acquiring assets, producing goods…

Q: Which of the following statements are false regarding Activity-Based Costing? Select one: O A.…

A: Solution:Correct answer : (d) Activity-based Costing follows the same basic calculation methods as…

Q: Problems with a fixed cost that is incurred only if an activity is undertaken at a positive level…

A: If there is a conduct of any activity at any positive level then it incurs an amount of fixed cost…

Q: the allocation base for applying overhead product the allocation base for applying overhead product…

A: The concept of activity-based costing requires identifying the cost pool, cost driver, number of…

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: Which of the following statements about the use of relevant cost analysis in decision making is…

A: The Cost  play an important role in decision making because it is concern with all the decisions…

Q: When compared to the traditional costing system, an advantage of ABC is that it is inexpensive to…

A: A costing system, also known as a cost account system, is a  system or  frame used by associations…

Q: Some costs that possibly could be traced directly to cost objects are nonetheless classified as…

A: Indirect costs are those costs which cannot be traced or is not cost effective to trace the costs…

Q: Cost allocation is arbitrary, so there is nothing gained by it. We should report only the costs that…

A: Cost allocation refers to the process of distributing the single cost among various companies,…

Q: Which TWO of the following statements about activity-based costing (ABC) are true? a. Implementation…

A: Activity-based costing suitable when: A variety of products are created Overhead accounts for a…

Q: Each incorrect answer cancels out each correcr one. Indicate which of the following statements are…

A: 1. Indirect costs are those factors whose increase or decrease is not related to changes in the…

Q: The high-low method used in determining costs can be used to estimate the cost queation using just…

A:

Q: Which of the following statements are true? Multiple select question. Within the relevant range…

A: The objective of the question is to identify the correct statements about fixed costs in the context…

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: not easily traceable and are allocated to a cost object u not abbreviate or add any extra spacing in…

A: Direct costs refer to those expenses which can be directly related to a product or a service.

Q: Which of the following points about the Activity-based costing (ABC) system is NOT a correct…

A: Using activity based costing, the overheads rate is determined for different activities on the basis…

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.