Value chain classifications Match each of the following cost items with the value chain business function where you would expect the cost to be incurred:

Q: Contribution margin ratio definition and how is useful in planning business operations?

A: Solution:- Contribution margin ratio definition as follows:-

Q: Cost accounting provides management with a variety of cost classifications that can be used for…

A: The concept underlying the above question revolves around the importance of cost classifications in…

Q: Discuss the merits and demerits of the cost volume profit analysis (CVP)

A: Cost volume profit analysis is one of the important concept used in cost accounting. Under this…

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: How are joint costs allocated? Explain and analyze using numerical example.

A: Joint Costs In business different costs are incurred in the production process, but in certain…

Q: Define the term classification of costs.

A: Classification of cost is the process of grouping of costs according to same characteristic. So,…