Cost And Management Accountıng

Yanıt Açıklaması: Cost allocation is the process of assigning costs in a cost pool to the appropriate cost objects with the help of representatives. Contrast with cost tracing, cost allocations involve the use of a representative rather than direct measures.

Yanıt Açıklaması: Below the elements of labor cost are listed; • Basic Pay • Week and Holiday Pays • Overtime Payment/Premium • Night/Shift Payment/Premium • Production and Efficiency Premium • Holiday Pay • Allowances (ie. traveling allowance) • Education and Training Payments • Social Welfare Contributions • Health Payments • Severance Payments • Social Security Premiums • Unemployment Insurance Premiums

Yanıt Açıklaması: Vested wage refers to payments made to employees for regular work plus other payments such as premiums, allowances, social welfare payments and etc.

Yanıt Açıklaması: The correct answer is question E. Variable costs represent cost behavior that is directly related to changes in the volume of operations and increases when the volume of activity increases and is zero. Fixed costs are defined as costs that are not affected by changes in operating volume at least in the short run.

Yanıt Açıklaması: Variable costs represent cost behavior that is directly related to changes in the volume of operations and increases when the volume of activity increases and is zero.

Yanıt Açıklaması: Under the piece-based system, the output is considered. This system focuses on the units that employees produce and ignores the time spent.

Yanıt Açıklaması: It should be indirect cost

Yanıt Açıklaması: In this method, the cost of service departments will be allocated to other service and operating departments depending on whether they provide services or not. In the method, first of all, the support departments should be ranked in the order that the step-down allocation will continue.

Yanıt Açıklaması: This method is also known as algebraic method.

Yanıt Açıklaması: According to FIFO cost of the used material is: (25 x 15 TL) + (15 x 15 TL) + (40 x 15 TL) + (5 x 20 TL) = 1.300 TL

Yanıt Açıklaması: The second stage allocates support department costs to the production departments. This is the most complex of the allocation stages because services can flow back and forth between the support departments. These are often called reciprocal flows.

Yanıt Açıklaması: Salaries are fixed payments to employees for their performance and productivity working on a monthly basis.

Yanıt Açıklaması: Basic pay, overtime pay and production and efficiency payment are directly related to the actual work of the employee.

Yanıt Açıklaması: There is a basic wage paid to employees because of their normal work and some other additional payments such as overtime payment and premium payment for production and efficiency. They are all related to the actual work of labor.

Yanıt Açıklaması: Determination of labor is not one of them

Yanıt Açıklaması: It should Just in time(JIT) System

Yanıt Açıklaması: Financial accounting produces useful financial information to external users. Whereas, cost accounting and management accounting provide information to internal users.

Yanıt Açıklaması: The expense is defined as a noun, a decrease in owners’ equity attendant the decrease in net assets caused by selling goods or provide services.

Yanıt Açıklaması: Manufacturing-sector organizations typically have one or more of the following three types of inventory: Direct materials inventory, work-inprocess inventory, finished goods inventory.

Yanıt Açıklaması: The correct answer is D. Unit cost information is also helpful in making important marketing decisions such as: Determining the selling price of a product Meeting competition Biddingoncontracts Analyzing profitability.