Cost center: A cost center is a part of a business that serves itself as a business unit. It has its own expenses. They are not responsible for generating revenue. The idea of identification of a cost centre is to have control and track of the expenses incurred. Cost centers are generally related to decentralization and responsibility accounting. Some of the examples of cost centers are accounting department, human resource department, service department. To Analyze: Whether the cost center's profitability can be evaluated

Question

Want to see the full answer?

Answer 1

Question

Chapter 24, Problem 7DQ

To determine

Introduction:

Cost center: A cost center is a part of a business that serves itself as a business unit. It has its own expenses. They are not responsible for generating revenue. The idea of identification of a cost centre is to have control and track of the expenses incurred. Cost centers are generally related to decentralization and responsibility accounting. Some of the examples of cost centers are accounting department, human resource department, service department.

To Analyze: Whether the cost center's profitability can be evaluated

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

General Accounting question

Ans plz

I want to this question answer general Accounting

Answer 2

Question

Chapter 24, Problem 7DQ

To determine

Introduction:

Cost center: A cost center is a part of a business that serves itself as a business unit. It has its own expenses. They are not responsible for generating revenue. The idea of identification of a cost centre is to have control and track of the expenses incurred. Cost centers are generally related to decentralization and responsibility accounting. Some of the examples of cost centers are accounting department, human resource department, service department.

To Analyze: Whether the cost center's profitability can be evaluated

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 24, Problem 7DQ

To determine

Introduction:

Cost center: A cost center is a part of a business that serves itself as a business unit. It has its own expenses. They are not responsible for generating revenue. The idea of identification of a cost centre is to have control and track of the expenses incurred. Cost centers are generally related to decentralization and responsibility accounting. Some of the examples of cost centers are accounting department, human resource department, service department.

To Analyze: Whether the cost center's profitability can be evaluated

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 24, Problem 7DQ

To determine

Introduction:

Cost center: A cost center is a part of a business that serves itself as a business unit. It has its own expenses. They are not responsible for generating revenue. The idea of identification of a cost centre is to have control and track of the expenses incurred. Cost centers are generally related to decentralization and responsibility accounting. Some of the examples of cost centers are accounting department, human resource department, service department.

To Analyze: Whether the cost center's profitability can be evaluated

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 24, Problem 7DQ

To determine

Introduction:

Cost center: A cost center is a part of a business that serves itself as a business unit. It has its own expenses. They are not responsible for generating revenue. The idea of identification of a cost centre is to have control and track of the expenses incurred. Cost centers are generally related to decentralization and responsibility accounting. Some of the examples of cost centers are accounting department, human resource department, service department.

To Analyze: Whether the cost center's profitability can be evaluated

Answer 6

Chapter 24, Problem 7DQ

To determine

Introduction:

Cost center: A cost center is a part of a business that serves itself as a business unit. It has its own expenses. They are not responsible for generating revenue. The idea of identification of a cost centre is to have control and track of the expenses incurred. Cost centers are generally related to decentralization and responsibility accounting. Some of the examples of cost centers are accounting department, human resource department, service department.

To Analyze: Whether the cost center's profitability can be evaluated

Answer 7

Chapter 24, Problem 7DQ

To determine

Introduction:

Cost center: A cost center is a part of a business that serves itself as a business unit. It has its own expenses. They are not responsible for generating revenue. The idea of identification of a cost centre is to have control and track of the expenses incurred. Cost centers are generally related to decentralization and responsibility accounting. Some of the examples of cost centers are accounting department, human resource department, service department.

To Analyze: Whether the cost center's profitability can be evaluated

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 24 - Prob. 1QS Ch. 24 - QS 24-2 Basis for cost allocation C1 In each...Ch. 24 - QS 244 Responsibility accounting report...Ch. 24 - QS 24-5 Allocating costs to departments...Ch. 24 - QS 24-6 Allocating costs to departments P2...Ch. 24 - QS 24-7 Allocating costs to departments P2...Ch. 24 - Prob. 7QS Ch. 24 - QS 24-9 Departmental contribution to overhead...Ch. 24 - QS 24-10 Computing return on investment A1...Ch. 24 - QS 24-11 Computing residual income A1 Refer to...

Videos

Want to see the full answer?

Chapter 24 Solutions