total cost

Q: How do you calculate contribution margin?

A: The contribution margin can be calculated by deducting the variable cost from the sales revenue.

Q: What are some management techniques in cost management

A: Cost Management refers to the practice of estimating, recording and closely the monitoring the costs…

Q: Explain the following basic principles in cost management: a. profits b. life cycle costs c.…

A: Cost ManagementCost management is the process of organizing and overseeing a company's spending…

Q: Explain unit product cost under variable costing.

A: Variable Costing: “Variable costing is a method that allocates only variable manufacturing costs to…

Q: Q.How do managers plan for variable overhead costs?

A: The cost which is dependent upon the level of output and changes if the level of output fluctuates…

Q: Weighted-average unit cost

A: Weighted average unit cost is the per unit cost which is calculated dividing the total value of…

Q: Define initial direct costs.

A: Initial direct cost: A cost that is incurred during the process of initiating the agreement of lease…

Q: how do I find direct cost per unit

A: Direct Cost A direct cost is a price that is directly associated with the production of particular…

Q: Define product cost

A: Direct costs is referred to as the cost which can be traceable to a product directly. Example,…

Q: ustomizing cost

A: Cost accounting is one of the accounting system that is used by the businesses. The main purpose of…

Q: DAILY REVENUE AND COST

A: The daily revenue is the revenue which has been earned by the company or any business during the day…

Q: explain fixed and variable costs within a relevant range of production

A: The objective of this question is to understand the concepts of fixed and variable costs within a…

Q: Explain the difference between direct costs and indirect cost

A: Direct cost is the cost incurred by the organization while performing their center business process…

Q: What is the relationship between total carrying cost and totalordering cost at the EOQ?

A: It indicates an inverse relationship between the cost of ordering and the cost of holding at…

Q: 1.An activity that has a direct cause-effect relationship with the resources consumed is a(n) Group…

A: In activity based costing the cost are apportioned based on the respective cost drivers

Q: costs that change proportionately according to the changes in the cost driver.......

A: variable costs are the costs that change according to the changes in the cost drivers or changes…

Q: Need help to calculate the production cost per unit

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: Define relevant cost.

A: Relevant cost is a cost which can be changed with change in selection of a alternative decision.…

Q: Change in direct materials cost per equivalent unit

A: The cost per equivalent unit for the material is based on the equivalent units for material and the…

Q: Explain average cost method.

A: Average cost method: Under average cost method inventories are priced at the average of all…

Q: how to compute quantity/efficiency variance

A: Cost accounting is beneficial since it can demonstrate where a corporation spends money, earns…

Q: Explain the following concepts: indirect materials Mixed cost Budgeting Margin of safety

A: The total manufacturing cost of the product is determined by including the direct material, labor,…

Q: Explain variable overhead costs.

A: Variable Costing: “Variable costing is a method that allocates only variable manufacturing costs to…

Q: Identify the costs included under variable costing.

A: The costs can be distinguished as variable and fixed costs.

Q: Within the relevant range of activity, variable cost per unit will:

A: Costs classification means grouping costs according to their common characteristics. On the basis of…

Q: COSTING METHOD. 1. What is average cost method? 2. What is FIFO cost method?

A: Solution: 1.   Average cost method: Average cost method is also known as weighted average method.…

Q: Types of Fixed and Variable cost with the help of example and graph?

A: Costs are the total spent amount for the expenditures and for producing the goods and services.…

Q: Describe planning for variable overhead costs.

A: Variable Cost: The cost which is not fixed is called a variable cost. This cost is directly…

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.