Which of the following summarizes the weighted average cost flow assumption? O Weighted average assumes that costs flow in the reverse order incurred. O Weighted average assumes that cost flow is allocated by the physical weight of items purchased. O Weighted average assumes that costs flow at an average of the costs available. O Weighted average assumes that costs flow in the order incurred.

Q: Which of the following is a carefully predetermined cost that is usually expressed on a per unit of…

A: Cost: In accounting, the cost is related to monetary value spend on raw material, services, and…

Q: In cost accounting, differentiate between allowable, allocable, reasonable, and consistent costs.

A: Allowable: A cost is allowable to a project if it meets the following criterias- The costs are…

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: Why is the constant gross-margin percentage NRV method sometimes called a “joint-cost allocation and…

A: Constant gross-margin percentage NRV method: Constant gross margin percentage NRV method is a method…

Q: What is the purpose for determining the cost per equivalent unit?

A: Equivalent units of production are applied to the work-in process inventory at the end of an…

Q: A cost which changes in proportion to changes in volume of activity is called a: *       a. fixed…

A: Costs are the expenses or amounts incurred in the business for manufacturing or selling of products.…

Q: When using the product cost method of applying the cost-plus approach to product pricing, which of…

A: Product cost is the cost involved in making the product. The mark-up is the margin on the cost to…

Q: The difference between sales and marginal cost is______________ a. Fixed Cost b. Profit c. Sales…

A: Introduction: Sales price: The price for which the goods are sold called as sales price. Total sales…

Q: Explain how a cost item can be both a direct cost and an indirect cost.

A: Direct Cost:  Direct Cost means Cost which can be directly allocated to Cost centre/Cost unit. It…

Q: A factor that causes or leads to a change in a cost or activity is a(n) a. slope. b. intercept. c.…

A: (a) Costs are the expenditures that are incurred in the business for manufacturing or selling of…

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: Please answer the following: 1. What is cost of production report? 2. What is cost per equivalent…

A: Since you have posted a question with multiple subparts, we have solved the first three subparts for…

Q: Which of the following statements correctly complete the sentence: "Gross Margin equals": I.…

A: Profitability of the firm is known by various measures like gross profit margin, net profit margin,…

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.