--%>
Assignment Help - homework help

Explain Cost Assignment

Cost Assignment: A procedure which identifies costs with activities, outputs, or another cost objects. In a wide sense, costs can be assigned to activities, processes, products, organizational divisions, and services. There are three techniques of cost assignment:

(i) Directly tracing the costs wherever economically feasible,

(ii) Cause-and-effect, and

(iii) Assigning costs on a reasonable and reliable basis.

   Related Questions in Managerial Accounting

  • Q : Features of partnership Write some main

    Write some main features of partnership? Answer: Essential elements or major features of Partnership are as follows: A) Two or m

    		•
  • Q : Adjunct account An account in financial

      An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred

    		•
  • Q : Main users of the accounting information

    Briefly list out the main users of the accounting information which are related to the business?

    		•
  • Q : Define Activity Activity : The real

    Activity: The real work task or step executed in generating and delivering products and services. The aggregation of actions executed within an organization which is helpful for the purpose of activity-based costing.

    		•
  • Q : Define Variance Variance : The rate,

    Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.

    		•
  • Q : Define Partnership deed Partnership

    Partnership deed: Partnership deed is a written agreement including the terms and conditions agreed by all the Partners.

    		•
  • Q : Relationship between risk and return

    Write a short note on the relationship between risk and return?

    		•
  • Q : Explain Dissolution 1) Dissolution ENDS

    1) Dissolution ENDS the partnership. a) Action of the parties: • By the expiration of a fixed term;• If entered

    		•
  • Q : When does a partnership exist A) A

    A) A partnership may be formed either expressly or impliedly, and in each case all the circumstances should be examined in order to ascertain: The intention of the parties; Whether there has been a

    		•
  • Q : What is Direct Cost Direct Cost : The

    Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o

    		•