why it is necessary to monitor cost per product or unit operating cost in order to determine the cost incurred? please answer in detail

Q: Give detail definition on operational cost and explain in detail how the operational cost is…

A: Introduction:- The following definition of operational cost as follows under:- Operating costs are…

Q: What modifications are made to the cost classification of product costs in estimating service costs?

A: Cost classification refers to the separation of various expenses into different categories. It is…

Q: why it is necessary to monitor cost per product or unit operating cost in order to determine the…

A: Cost refers to the value in money to be incurred for running the business or day-to-day activities…

Q: Explain the Problems in Cost Accounting Measurements?

A:

Q: Regent Company manufactures golf bags in two department process. The Finishing Department adds…

A: The equivalent units are calculated on the basis of percentage of work completed during the period.

Q: Explain the measures of cost allocation.

A: The company incurs a different cost to provide goods and services to the customers. The entity…

Q: Why is it important to keep track of both direct and indirect costs? How do these costs effect…

A: (a )If we keep a tracking record of direct and indirect costs we can determine the firm's…

Q: Cost and Costing, as well as the importance of calculating costs in product management, may be…

A: Cost refers to the value of money that has been used to produce or manufacture something. It can…

Q: Which one of the following is another name for product costs? Select one: a. Direct costs b. Period…

A: Product cost means the cost of producing one unit of finished goods.

Q: Explain the features of cost management.

A: Cost management is a process of planning and controlling the costs of a business organisation. This…

Q: What is the difference between a structural cost driver and an executional cost driver? Provide…

A: Cost driver: cost driver is a particular unit or specific activity that is responsible for a change…

Q: actors affecting the classification of a cost as direct or indirect include: OA. cost behaviour…

A: Direct Cost:- Costs that are directly related to the production of goods are called direct costs…

Q: Explain Classifying Costs for Predicting Cost Behavior?

A:

Q: What is cost approach measurement?

A: A process that involves finding out the economic value or the fair value of a business entity refers…

Q: In order to evaluate cost information managers must be able to distinguish between relevant costs…

A: Relevant cost refers to the cost which is usually incurred by lower management in an organization…

Q: Differentiate between operating costs and administrative costs?

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Under operations analysis, how do you describe cost analysis?

A: Operations analysis is the process of examining a business or organisation's internal workings in…

Q: What Is Total Cost Reporting?

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Explain an example how to calculate total costs.

A: Total c osts represents overall costs incurred to produce or procure a product.