Cost And Management Accountıng

Yanıt Açıklaması: Contribution (Margin) is the difference between the unit sales price and the unit variable cost.

Yanıt Açıklaması: Activity can be defined as any event or task that is carried out in order to meet a specific goal, such as designing, assembling, testing, etc.

Yanıt Açıklaması: Inventoriable costs are transferred to the related asset account on the balance sheet when the product is completed.

Yanıt Açıklaması: Size of the company is not among the factors that taken into consideration while making pricing decisions by businesses.

Yanıt Açıklaması: Direct labor price variance = (Actual rate - Budgeted rate) x Actual labor hours worked Direct labor price variance = (15 - 13) x 43,200 = 86,400TL (U)

Yanıt Açıklaması: E is not one of them.

Yanıt Açıklaması: Peanut butter costing is the name given to a costing system that broadly averages or spreads the cost of resources uniformly to cost objects. Producing higher variety of products causes companies to incur a higher variety of costs, as different products need different resources. In other words, every product does not use the same resources. This means that the cost of each unit should include only the cost of resources used in it’s production. Therefore, averaging the total cost to each unit (with the name given to it “peanut butter costing”) does not result in accurate cost calculation anymore.

Yanıt Açıklaması: The second component of direct materials flexible-budget variance is the direct materials efficiency variance, which reflects the company’s efficiency in using the materials. Efficiency variance is the difference between the actual quantity of materials used and the standard quantity that should have been used for producing the actual output, multiplied by the standard price per unit of direct material.

Yanıt Açıklaması: Activity-based costing (ABC) is a refined version of simple costing system, with increased number of cost pools and allocation bases.

Yanıt Açıklaması: Cost assignment is a general term that includes both tracing accumulated costs that have a direct relationship to a cost object and allocating accumulated costs that have an indirect relationship to a cost object.

Yanıt Açıklaması: ıt should be marginal cost

Yanıt Açıklaması: Costs that are traceable to a specific cost object are referred to as direct costs; costs that are not traceable to a specific cost object are referred to as indirect costs.

Yanıt Açıklaması: Total Revenue (TR) – Total Cost (TC) = Profit (P) (SP x X) – (V x X) - TFC = P (2,200 x X) – (1,700 x X) – 1,800,000 = 300,000 500X – 1,800,000 = 300,000 500X = 2.100,000 X = 4.200 units of products

Yanıt Açıklaması: Planning is the process of establishing objectives or goals for the business and calculating the means by which they will be met.

Yanıt Açıklaması: All of them are among the important marketing decisions in which unit cost information is helpful.

Yanıt Açıklaması: It should be Actual Costing Method

Yanıt Açıklaması: A refined costing system provides a more detailed analysis of cost assignment (rather than broad averaging), especially in terms of indirect costs’ allocation. In order to succeed in this, there are some key points, such as increasing the share of direct costs in total, increasing the number of indirect cost pools, and using more allocation bases for more diversified activities, etc

Yanıt Açıklaması: Benefits of budgeting can be explained as follows: Efficient Resource Allocation, Communication, Coordination, Performance Evaluation, Time Management, Motivation

Yanıt Açıklaması: Use of standard costing makes it easier to compare the actual results with budgeted results, by providing the opportunity to determine a new target that is adjusted for the actual output level, instead of a fixed level of production. Next to planning, correction, and performance evaluation benefits, using the standard costs instead of the actual costs helps management with pricing decisions, too. Additionally, standard costing is better than the actual costing in terms of timeliness of cost data to use in pricing decisions.

Yanıt Açıklaması: The direct labor budget represents the number of hours and corresponding costs of direct labor needed for making the budgeted production. Similar to direct materials, the usage of direct labor hours per unit is determined with the help of technological relationships (such as time-motion analyses of engineers) between the number of labor hours and corresponding output units.