11. A total variance is best defined as the difference between total a. actual cost and total cost applied for the standard output of the period. b. standard cost and total cost applied to production. c. actual cost and total standard cost of the actual input of the period. d. actual cost and total cost applied for the actual output of the period. 12. The term “standard hours allowed” measures a. budgeted output at actual hours. b. budgeted output at standard hours. c. actual output
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Marginal Costs and Benefits Marginal analysis is a technique used in microeconomics by which very small changes in specific variables are studied in terms of the effect on related variables and the system as a whole. Marginal costs and benefits are a vital part of economics because they help to provide the relevant measurement of costs and benefits at a specific level of production and consumption (McCain‚ 2008). This is the reason why I’ve chosen this topic for my paper. We use economics
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Chapter 2 – The Cost Function * A cost object is a thing or activity for which we measure costs. Cost objects include such things as individual products‚ product lines‚ projects‚ customers‚ departments‚ and even the entire company. * Direct cost: a cost that can be directly traced to a cost object and is incurred for the benefit of a particular cost object * Indirect cost: a cost that is incurred for the benefit of more than one cost object and therefore cannot be easily and economically
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Telus: The Cost of Capital Telus needs to calculate the cost of capital from the variety of data given. The cost of capital is determined mostly by how the funds are used rather than where they were obtained from. It relies on the risk of investments Telus involves in‚ therefore‚ depending on cost of both equity of debt as described below. Also note that‚ even though the preferred shares are not attractive to issuers and may not get issued again‚ it is still on the company’s balance sheet and affect
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each section are provided in the Course Description. Part A – Microeconomics – Worth 10% of total assessment: Answer any five (5) of the following questions. Each question is worth 10 marks; Question 1: (a) Explain the impact of external costs and external benefits on resource allocation; (2.5 marks) Ans : Resources are over - allocated when negative externalities exist because the equilibrium price is too low. Resources are under - allocated when positive externalities exist because the
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Identify two cost oriented approach and provide hypothetical examples for each? Cost oriented approach is when a company sets a price of a product that covers marketing and production cost. An example would be an apples iphone. It cost about $200 to make and they sell a brand new one without an contract for $800. So I am guessing the rest of the money is used to cover production‚ marketing and make a profit. Also Dr. Dre beats are made in china and are priced at $300 but cost $80 to make. So same
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Assignment 2: Cost Behaviors and Allocation Prof. Gilton Grange HSA 525 Analyze the complexity of cost behaviors in health care organizations and describe how costs are classified according to their relationship with volume. Health services managers are vitally interested in how costs are affected by changes in volume. Before costs can be managed‚ one must have an understanding of how and why costs are being incurred. For‚ example medications dispensed from the pharmacy are variable costs items
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3346A COST ACCOUNTING Solution Fall 2010 Midterm Examination STUDENT NAME: _________________________________________________ STUDENT NUMBER: ________________________________________________ 90 minutes INSTRUCTIONS 1. 2. 3. 4. Books and notes are not permitted‚ except language dictionaries. Non programmable calculators are permitted. Put all answers in the question booklet Questions concerning possible errors in the exam only will be answered. Questions Max Points Question
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indirect cost Direct cost- We can easy compare direct to fixed cost. They are very similar. Direct cost we can name this cost which are directly attributable to the sale of a product. Direct costs can be identified specifically with a particular sponsored project‚ or that can be directly assigned to such activity relatively easily with a high degree of accuracy.It is necessarily to good understand that cost shared expenditures are considered to be direct costs. We have 3 types of direct cost: • direct
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Jenine Teixeira ACFI 406 9/24/12 Assignment chapter 19 Q: 1‚ 2‚ 11‚ 15 1. Dickison orders one thousand widgets at $5 per widget from International Widget to be delivered within sixty days. After the contract is consummated and signed‚ Dickison orally requests that International deliver the widgets within thirty days rather than sixty days. International agrees. Is the contractual modification binding? A- Both parties are merchants‚ the change of delivery date would affect the
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