Absorption and Variable costing. a) Explain the key difference between these two costing methods: b) Explain how these methods can affect management decisions Inventory valuation methods determine the cost of goods sold and the inventory balance. Explain how the Average Cost method is...
a. Prepare a cost of goods manufactured schedule for the quarter.(10 marks) b. Prepare the income statement for the quarter.(6 marks) c. Explain the difference between fixed cost and variable cost, and give one example of fixed cost and one example of variable cost from the above table....
Explain the difference between cost of goods manufactured and cost of goods sold. a. How is the predetermined overhead rate determined when standard costs are used? b. How is it applied to the cost of products? How is job-order costing different from process costing?
Briefly explain the three ways that a linear cost function may behave? Answer: The two usual assumptions behind a simple linear cost function are:1) Variations in the level of a single activity (the cost driver) explain the variations in the related total costs; 31、and2) Cost behavior ...
(ii) Explain briefly the accounts receivable systems. (0) (iii) Briefly discuss the concept of seed capital assistance. (0) (iv) Enumerate the various forms of bank credit in financing working capital of a business organization. (0) (v) Ascertain the c...
aIf the price of output is $7, how many units of output will this firm produce? What is total revenue? What is total cost? Will the firm operate or shut down in the short run? How about in the long run? Briefly explain. 如果产品的价格是$7,这家企业将导致产品多少个单位? 什么是总...
(i)Explain briefly the limitations of Financial ratios.(0) (ii)What do you understand by Business Risk and Financial Risk?(0) (iii)Differentiate between Factoring and Bills discounting.(0) (iv)Differentiate between Financial Management and Financial Accounting.(0) ...
(b) Calculate the expected value of profit for each of the two price options and recommend, on this basis, which option Gam Co would choose. (3 marks) (c) Briefly explain the maximin decision rule and identify which price should be chosen by management if they use this rule to decide ...
Business analysts frequently have to choose which goods or projects to prioritize. There is a trade-off between projects, particularly about which project one should concentrate on first to start the project. The Cost of Delay Calculator is a really useful tool to use when making decisions of th...
Answer TRUE or FALSE for the following questions, briefly explain why any answers are false. 1) The conversion costs of manufacturing are direct materials and overhead. 2) A company can produce only True or False: Direct materials become ...