The cost that is used for the benefit of many cost objects and cannot be easily related to any specific cost object: Select one: O a. Fixed cost O b. Indirect cost O c. Direct cost d. Variable cost

Q: What is meant by an activity base when dealing with variable costs? Give several examples of…

A:

Q: what is an indirect cost and how is it different than a direct cost?

A: Indirect Cost: Indirect costs are the costs of doing business that are not easily identified with a…

Q: A cost allocation rule is the method or process used to assign the costs in the ________ to the…

A: Cost allocation refers to the process of identifying and assigning the overheads to the service…

Q: relevant costs are always: a.variable costs b.avoidable costs c.sunk costs d.fixed costs

A: Relevant costs are the cost that describes the avoidable costs that are incurred for making specific…

Q: In applying the high-low method of cost estimation to mixed costs, how is the total fixed cost…

A: Mixed cost also called the semi variable cost . Mixed cost contains both fixed and variable cost .…

Q: The total cost of a cost object can only include the direct costs that are directly traced to that…

A: The total cost of a cost object includes both costs i.e costs that are directly traced and…

Q: What is the cost measurement? cost accumulation? what is the difference between the two?

A: Cost is the monetary value of an item or a service. While producing an item, there may be various…

Q: The marginal cost is: Select one: a. Is the incremental cost of an activity, such as producing a…

A: Marginal cost refers to the additional cost.

Q: What is the difference between a linear and a nonlinear cost function? Give an example of each type…

A: Cost Function:Cost function represents the basic change comes in the total cost due to the change in…

Q: The term "relevant range" means the range over which: a particular cost formula is valid. production…

A: Lets understand the basics.Cost accounting is that branch of accounting in which all costs incurred…

Q: Define and discuss the difference between indirect and direct cost. Provide an example of each.

A: Direct costs are expenses for manufacturing and selling products. Direct costs include the cost of…

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: ariable costing is sometimes called a. differential b. direct

A: Variable costing is a costing system under which those costs of production that vary with output are…

Q: What is a fixed cost? A variable cost? A mixed cost? Give an example of each

A: Costs are the expenses incurred in business. It means costs incurred for the manufacturing of…

Q: Cost allocation bases are ideally based on a cause and effect basis. That is not always easy when…

A: Cost allocation is the process of assigning or distributing a company's indirect costs to various…

Q: Differential costs are synonymous with: Select one: a. variable costs b. relevant costs c.…

A: Answer:- Relevant costs and benefits are those that will differ between alternatives. They are the…

Q: What type of cost is expertise? Is it a fixed cost or a variable cost? Defend your answer.

A: SOLUTION- FIXED COST  ARE THOSE COST WHICH DO NOT CHANGE WITH A REASONABLE LEVEL OF CHANGE .…

Q: A cost that has characteristics of both a varlable cost and a fixed cost is called a Oa,…

A: Reason:- Mixed cost refers to the cost which is a combination or mix of both fixed cost and variable…

Q: Explain one example of the cost driver.

A: Cost drivers are used in Activity Based Costing. Cost drivers are used to allocate overhead costs to…

Q: Consider the following statements concerning costs.        1. A committed cost cannot vary with the…

A: Committed costs are costs that are committed or fixed to be incurred in future period of time.…

Q: what is the definition of fixed, variable, and mixed costs? Are variable costs or fixed costs easier…

A: Introduction: Cost accounting is a type of managerial accounting that capture a firm's production…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.