Prime Cost YES.....Conversion Cost NO. Prime Cost YES.....Conversion Cost YES. Prime Cost NO....Conversion Cost NO. Prime Cost NO.....Conversion Cost YES. | 2. (TCO A) The costs of staffing and operating the accounting department at Central Hospital would be considered by the Department of Surgery to be (Points : 6) | direct costs. sunk costs. incremental costs. None of the above | 3. (TCO A) The cost of lubricants
Premium Costs Cost Variable cost
SOAL LATIHAN CHAPTER 18 ASISTENSI COST ACCOUNTING UNIVERSITAS BAKRIE 1. 18-16 The following data‚ in physical units‚ describe a grinding process for January : WIP‚ beginning 19‚000 Started during current period 150‚000 To account for 169‚000 Spoiled units 12‚000 Good units completed and transferred out 132‚000 WIP‚ending 25‚000 Accounted for 169‚000 Inspection occurs at the 100% completion stage. Normal spoilage is 5 % of the good units passing inspection
Premium Costs Units of measurement Cost accounting
COSTING 4-1 Cost pool––a grouping of individual indirect cost items. Cost tracing––the assigning of direct costs to the chosen cost object. Cost allocation––the assigning of indirect costs to the chosen cost object. Cost-allocation base––a factor that links in a systematic way an indirect cost or group of indirect costs to cost objects. 4-2 In a job-costing system‚ costs are assigned to a distinct unit‚ batch‚ or lot of a product or service. In a process-costing system‚ the cost of a product
Premium Costs Variable cost Cost accounting
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
Premium Cost accounting Inventory Costs
ADM 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
Premium Costs Management accounting Variable cost
additional costs incurred. Actual variable costs increased from $218 to $247.50‚ causing an unfavourable flexible-budget variable cost variance of $59 457. The next section‚ 3.2 Variable and Fixed Variance Analysis‚ will look into the specific causes of this increased in cost and resources consumed. Understanding the reasons why actual results differ from budgeted amounts can help Barnes better manage its costs and pricing decisions in the future. If Barnes have not been able to pass these costs on to
Premium Variable cost Costs Cost
Conceptual Framework Cost Accounting Cost accounting‚ as a tool of management‚ provides management with detailed records of the costs relating to products‚ operations or functions. Cost accounting refers to the process of determining and accumulating the cost of some particular product or activity. It also covers classification‚ analysis and interpretation of costs. The cost so determined and accumulated may be the estimated future costs for planning purposes‚ or actual (historical) costs for evaluating
Premium Cost accounting Costs Management accounting
INTRODUCTION Realised-profit‚ matching-based‚ historical cost accruals accounting (HCA) has for over fifty years been repeatedly challenged as being an inadequate basis for the measurement of "income" which reports increments in the value of businesses. Such challenges continue unabated and are made by both accounting standards regulators and by academic commentators. Despite its obvious deficiencies for measuring valuation based income‚ and subject to concept of prudence‚ internationally HCA remains
Premium Balance sheet Generally Accepted Accounting Principles Costs
range of accounting application is expanding rapidly‚ along with the increasing demand of economic market. As is well known‚ accounting is a key aspect of business. And in the accounting profession‚ there has been already existed interpenetration and overlapping among the different kinds of accounting. Cost accounting and financial accounting are two main components of accountancy. The former one is a part of accounting. In cost accounting‚ it dramatically researches the variable cost‚ fixed cost‚ overheads
Premium Income statement Balance sheet Management accounting
Cost Accounting - Chapter 1 1. Flexibility is said to be the hallmark of modern management accounting‚ whereas standardization and consistency describe financial accounting. Explain why the focus of those two accounting systems differs. Financial accounting is more about the bigger picture—it evaluates the finances of the organization as a whole‚ using historical‚ quantitative‚ monetary‚ and factual data. It is more formal and requires the use of GAAP. The information financial accounting
Premium Cost accounting Management Management accounting