Question

1.what is the difference between a period and a product cost? 2.What is the difference between...

1.what is the difference between a period and a product cost?

2.What is the difference between a fixed cost and a variable cost?

3.What is the definition of the relevant range?

4.What are the 3 costs that are considered to be product costs?

5.How do fixed and variable costs behave within the relevant range?

6.How do we calculate the pre-determined over head rate?

7.What is the pre-determined rate used for ?

8.What is the difference between over and under applied?

9.What are the 3 allocation bases that we can use to calculate the pre-determined rate?

10.Total manufacturing costs consists of what three cost categories?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

As per our guidelines if more than 1 questions are asked we have to answer minimum 4 and due to time binding of submitting answers i tried my level best to answer many questions hope you will understand

Please please upvote and rate it at the end thank you so much

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What is the difference between period and product costs ?
What is the difference between period and product costs ?
What is the difference between a fixed cost and a variable cost and why are both...
What is the difference between a fixed cost and a variable cost and why are both of these costs important to the accounting process?
What is the difference between a fixed cost and a variable cost and why are both...
What is the difference between a fixed cost and a variable cost and why are both of these costs important to the accounting process?
A step cost function with very wide steps may often behave as what type of cost...
A step cost function with very wide steps may often behave as what type of cost within the relevant range? Fixed. Variable. Mixed. Sunk.
Questions: 1. What do we mean by cost behavior? 2. When activity increases, does the unit...
Questions: 1. What do we mean by cost behavior? 2. When activity increases, does the unit variable cost increase, decrease or remain the same? 3. When activity decreases, does the unit fixed cost increase, decrease or remain the same? 4. When activity decreases, does total variable cost increase, decrease or remain the same? 5. When activity increases, does total fixed cost increase, decrease or remain the same? 6. Define the following: a. Gross margin b. Contribution margin 7. What are...
1 A company makes two products: tables and chairs. While performing a multi-product Cost-Volume-Profit Analysis for...
1 A company makes two products: tables and chairs. While performing a multi-product Cost-Volume-Profit Analysis for this company, you noticed that break-even sales INCREASED due to A a decrease in the total fixed cost. B a decrease in the variable cost per unit for tables. C a decrease in the selling price per unit for tables. D an increase in the selling price per unit for chairs. 2 A company makes two products: tables and chairs. While performing a multi-product...
Chapter 5 Cost-Volume-Profit Relationships What is the Contribution income statement? __________________________ __________________________ __________________________ __________________________ __________________________ What...
Chapter 5 Cost-Volume-Profit Relationships What is the Contribution income statement? __________________________ __________________________ __________________________ __________________________ __________________________ What is the gross profit ratio?_____________________________________________ What is the contribution margin ratio?______________________________________ What is the break-even point?_____________________________________________ Give 3 ways of stating breakeven: (relating items from the contribution income statement) _____________________________ _____________________________ _____________________________ What is the formula to find the breakeven number of units?____________________________ How can you determine the number of units necessary to attain a certain level of profit? _____________________________________________________________________________ How can you determine...
Cost allocation Product A Product B Total sales volume (units) 360 200 560 Revenue $4,000 $24,000...
Cost allocation Product A Product B Total sales volume (units) 360 200 560 Revenue $4,000 $24,000 $28,000 Variable costs:   direct materials $800 $1,600 $2,400   direct labor $1,600 $4,000 $5,600 Contribution margin $1,600 $18,400 $20,000   Fixed costs $16,800 Profit $3,200 a) Allocate the fixed costs between products A and B. Use direct labor dollars as the cost driver. allocation rate=$  per ___________ DL$ allocated costs for A=$ __________ allocated costs for B=$ ___________ b) Compute the profit margins for products A and...
2. This question deals with the costs a hospital faces. a. What is the difference between...
2. This question deals with the costs a hospital faces. a. What is the difference between short run costs and long run costs? b. Give an example of a cost that is fixed in the short run and one that is variable in the short run for a hospital.
2. What is sunk cost? What is the difference between the fixed cost and a sunk...
2. What is sunk cost? What is the difference between the fixed cost and a sunk cost?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT