Q: Is depreciation expense or depreciation cost is fixed cost or variable cost in nature? Fixed costs: Fixed costs are such costs that do not change with the change in activity level within the relevant range. Where relevant range can be defined in terms of time or activity level. Variable costs: Variable costs are such costs that change with the change in activity level . Coming to the question‚ depreciation expense or depreciation cost can either be fixed or variable and this depends on the
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Generally‚ the term cost of production refers to the ‘money expenses’ incurred in the production of a commodity. But money expenses are not the only expenses incurred on the production of a commodity. There are number of services and inputs such as entrepreneurship‚ land‚ capital etc.‚ which are offered by an entrepreneur without changing any price or receiving any payment for them. While computing the total cost of production‚ allowance should be made for such expenses. It is therefore essential
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Chapter 6--Process Costing Student: ___________________________________________________________________________ 1. A process is a series of activities or operations‚ which are linked to perform a specific objective. True False 2. The cost flows for a process-costing system are totally different from those of a job order costing system. True False 3. Process systems are characterized by a larger number of homogeneous products passing through a series of processes. True False
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using first law of thermodynamics‚ energy cannot be created or destroyed. It can only transfer by continuous flow. Total continuity equation (TCE)‚ component continuity equation(CCE) and energy equation(EE) is applied to do mathematical model. Total continuity equation is the principle of the conservation of mass when applied to a dynamic system. The unit of this equation is mass per time. In overall balance‚ only one TCE can be written. CCE is based on component balance. Unlike mass‚ chemical components
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Chapter 2—Cost Terminology and Cost Behaviors MULTIPLE CHOICE 1. The term "relevant range" as used in cost accounting means the range over which a. | costs may fluctuate. | b. | cost relationships are valid. | c. | production may vary. | d. | relevant costs are incurred. | ANS: B PTS: 1 DIF: Easy OBJ: 2-2 NAT: AACSB: Reflective Thinking LOC: AICPA Functional Competencies: Measurement‚ Reporting 2. Which of the following defines variable cost behavior
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breaking – covertly‚ openly‚ and constantly. Depew (New York) School Board‚ the school boards of Knox and Sumner Counties in Tennessee and some conservative organizations banned‚ challenged and/or advocated against John Green’s 2005 novel‚ Looking for Alaska being taught in high school English classes‚ and even being available in school libraries. Of course‚ they were – and are – completely wrong and incredibly shortsighted in attempting to do so. All they had to do to allay their fears of leading
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Cost reduction Generally defined as the act of cutting costs to improve profitability. Cost reduction‚ should therefore‚ not be confused with cost saving and cost control. Cost saving could be a temporary affair and may be at the cost of quality. Cost reduction implies the retention of essential characteristics and quality of the product and thus it must be confined to permanent and genuine savings in the costs of manufacture‚ administration‚ distribution and selling‚ brought about by elimination
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Destination America’s new show‚ Alaska Monsters‚ will cover the Otterman. If nothing else‚ these shows bring to light creatures I never heard of before and I am delighted to investigate! So here’s my take on the Otterman. In the folklore of the Tlingit and Tsimshian Indian tribes‚ Kushtaka (Kooshdakhaa) translates to “land otter man.” These creatures were said to shape-shift into human form or that of an otter. Interestingly‚ the Dan’aina tribe of South Central Alaska and
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TOTAL QUALITY MANAGEMENT | CONTINUOUS PROCESS IMPROVEMENT | | Process‚ The Juran Trilogy‚ Improvement Strategies The PDSA (Plan-Do-Study-Act)‚ Problem solving method‚ Kaizen and Six-Sigma | | JOHN KIRUGUMI :B211/003/0003/2012 | 3/1/2013 | | INTRODUCTION Processes: Quality is a never ending quest and Continuous Process Improvement (CPI) is a never ending effort to discover and eliminate the main causes of problems. It accomplishes this by using small-steps improvements
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Structure Setting and Adjustment | Definition | A pay structure is a collection of pay rates or pay ranges.Structure setting and adjustment is the process of developing‚ adjusting‚ and maintaining a pay structure. | Purpose | Pay structures are used to help organizations: * maintain pay levels that are competitive with the external labor market‚ * maintain internal pay relationships among jobs‚ * recognize and reward differences in level of responsibility‚ skill‚ and performance‚ and
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