Explain the differences between relevant cost analysis and strategic cost analysis. No less than 250 words. Follow APA format.
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Explain the differences between relevant cost analysis and strategic cost analysis.
No less than 250 words.
Follow APA format.
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- In a homogeneous cost pool, all costs have a similar cause-and-effect relationship with the cost- allocation base. Select one: O True O False Previous page Next page cam Jump to... Return to: General 23°C aioMatching Following are a number of key terms and concepts introduced in thechapter, along with a list of corresponding definitions. Match the appropriate letter for the key term or concept to each definition provided (items 1–12). Note thatnot all key terms and concepts will be used. Answers are provided at the end of thischapter.a. Cost–volume–profit analysisb. Cost formulac. Contribution margind. Contribution margin formatincome statemente. Linearity assumptionf. Contribution margin ratiog. Operating leverageh. Sales mixi. Break-even pointj. High–low techniquek. Managerial accountingl. Management processm. Variable costn. Fixed costo. Relevant rangep. Mixed (semivariable) costq. Cost behavior pattern____ 1. The proportion of total sales represented by various products or categoriesof products.____ 2. The difference between revenues and variable costs.____ 3. The concept that operating income changes proportionately more than revenues for any given change in revenues.____ 4. The…ABC systems Select one a. will limit cost drivers to units of output O b.comply with CAAP c highlight the different levels of activities O d will allocate costs based on volume
- Given below is a numbered list of cost terms. For the given definition statement. '_____ costs are those which are unaffected by changes in activity level over a feasible range of operations for the capacity available.', place the number of the cost term in the blank that makes the statement a correct definition. Each cost term is used only once.Compare and contrast the Absorption Costing method and the Activity Based Costing (ABC) method. 1500 wordsMatch the type of cost shown in the left column with the corresponding description shown in the right column, choosing the appropriate letter in the drop-down list. Question content area bottom Part 1 1. Irrelevant cost A. A cost that has not yet been incurred but which must, under some contract or obligation, be incurred. 2. Future outlay cost B. A cost that is not pertinent to a particular decision. 3. Opportunity cost C. A cost that involves the spending of money or some other transfer of assets. 4. Sunk cost D. A cost which has been incurred in the past. 5. Committed cost E. The cost incurred when one course of action prevents some benefit occurring from another course of action.
- a) Explain the purpose of a cost quality report (b) Drury-Management & Cost Accounting- outlines four categories of cost that might be included in a cost quality report. Required: List and discuss the four categories of cost.Examine the graphs in Exercise 3-40. Required: As explained in the chapter, cost behavior patterns can be described as fixed, variable, semi-variable, mixed, or step function (i.e., semi-fixed) in nature. Explain the exact type of cost behavior pattern represented by each of the cost curves shown in graphs A through L. Note that some of the graphs might represent a combination of multiple cost behavior patterns.Write a Paragraph of 100 – 150 words for the following: i. Scope of Cost Accounting ii. Component of Cost Accounting iii. Classifications of Costs
- Which of the following statements is true? Select one: O a. The most complex of the cost estimation methods is the high-low method. O b. Engineering approach approximates cost function by classifying each account as either variable or fixed based on the analyst's knowledge of how the account behaves. C The high-low method of deriving an estimated cost line uses all the data points available. O d. In approximating the cost function, the account analysis classifies costs based upon an industrial engineer's evaluation of production methods, and material, labor, and overhead requirements. O e. The high-low method is used to derive an estimated line of cost behavior by graphically connecting the two cost amounts identified with the highest and lowest volume levels.Determine the portion of this cost to be classi ed in each of the following categories.Estimate the values of X1, X2, X3, X4 and X5.What is the purpose of cost allocation in terms of economic decisions, motivation and justifying costs? Answer in 250 words.
