What is unique about the flow of costs in a job order cost system? How is job-order costing different from process costing? What are the advantages and disadvantages of job order costing, process costing, and activity based costing systems?
Explain how activity-based costing can improve organizations' costing systems. Select a macroeconomic event and explain why you believe that this event does influence management decisions and why it cannot be controlled by management. Explain how you would use the decision rule to ...
Briefly discuss the meaning and significance of each of the following terms: a) Benchmarking b) Activity-based costing What is the role of a discount rate in decision-making? Provide two different models used to price call options. Detail each model in a Word document and foc...
1) Identify and discuss the advantages and disadvantages of activity-based costing. 2) Does a company's costing method have any effect on its pricing decisions? Explain. What are the advantages of establishing pay ranges, rather than specific pay levels, for each job? What are the...
How do you briefly explain each of the three costing systems in accounting? After learning about the accounting information system, how would you explain to a client how this system of recording financial transactions based on the impact of the accounting equation will help them in their business...
Explain the seven steps for calculation cost according to activity based costing system (ABC): 1. Explain the concept of ABC 2. Explain the seven steps by details 3. Give a numeric example about ABC Explain what is meant by the total cost...
What are the differences between activity-based costing and process costing? Would you expect the amount of overhead applied for a period to equal the actual overhead costs of the period? Why or why not? a. Describe the two variances between the actual costs an...
Give two examples of when an explicit cost is different from an implicit cost? Define the term opportunity cost. How may this cost be relevant in a make-or-buy decision? Describe Activity-Based Costing in brief. Briefly explain what happens to total variable cost when a product line is ...
How do companies synthesize data to explain the concept of ROI and describe how the use of an activity-based costing system can improve the company's ROI and the potential impact on free cash flow? Explain a real-life example of how managerial accounting helps managers ...
In 75 words or fewer, explain the difference between allocating manufacturing overhead using traditional cost allocation and activity-based costing allocations. Explain the term "cost unit" and give some examples. Which one of the following is not an advantage ...