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Why is the identification of favorable and unfavorable variances so important to a company? How can identification of variances help management control costs?
Describe a decision a company has made when facing uncertainty. Compute the expected costs and benefits of the decision. Offer advice on how to proceed.
Give a numerical example for the four departments, given the table below, (the numerical information should be appropriate as per table given as a reference.
What is Activity Based Costing and how does it work? What does it do for firm employing such a system? How do you go about developing such a system in a firm?
The considerations that should be evaluated before selecting an appropriate costing system. What systems work better for different types of companies?
List the pros and cons for the selling division as well as the purchasing division for each scenario presented.
Later in your conversation this same manager opens a folder and produces a document he just received. What would be your reply to this manager?
He also wants you to provide examples of these cost behavior patterns for him by using real-world examples.
Calculate the predetermined rate for the plant using FBC based on machine hours for each job. Calculate total product cost using FBC based on Machine hours.
How is the internal rate of return calculated? Explain how it supports a capital business decision versus the NPV model.
Reflect on your experience in job costing. Describe how you allocated activities to the cost of a job. Did you find any areas the business could improve upon?
What process is used to assign costs in an ABC system? Provide numerical example.
Reflect on a time where you, or someone you know, experienced sunk costs. How did sunk costs affect the decisions made, from your experience?
Explain why you believe all costs are relevant and why allocation of costs is necessary for accurate financial reporting.
Determine the difference between a cost object and a cost driver by giving an example of each within the context of a manufacturing plant of your own choosing.
Some include, predetermined costs, estimated future costs, expected costs, and even the should be cost! Can you include more details about this statement?
Explain the benefits of using a standard cost system at a well-known company. Do not post on a company that one of your classmates has already discussed.
Describe the differences between direct labor, direct material, manufacturing overhead, and nonmanufacturing costs, and list an example of each.
What is the definition of each costing method? Discuss how, when, and if the costing method could be used by EEC.
Students are required to criticize both traditional methods and explain how is ABC being applied to a manufacturing company?
Explain the relationship of the costs to the concept of contribution margin. Discuss any limitations of the data, including what may be missing.
It is important to note that standard costs actually go by many different names! Some include. Can you include more details about this statement?
Describe standard costs. Explain the benefits of using a standard cost system at a well-known company.
Discuss how static budget failed to analyze cost and revenues variances and how flexible budget has overcome static budgets' deficiencies.