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The term relevant range as used in cost accounting means the range over which?
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∙ 13y ago
Tut Tut Peter Clarke wudnt be happy??
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∙ 13y ago
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The following type of information is LEAST useful for evaluating the range of products that may meet your requirement?
Cost driving factors
How much did a mitutoyo 227-111 micrometer cost?
The cost of a Mitutoyo Micrometer in the 227-111 series varies, but is in the hundreds of dollars range. You can find this item used, however, for as little as $100.
What part of the expression is the price of the item?
It means what is the total of the cost.
How are transportation costs are calculated for a specific item in an order including other items?
In general accounting practice, transportation (shipping) costs are allocated to specific items in a multi-item order by the relative cost of each item. Example: A 2-item order totals $100 (say, $60 for one item and $40 for the other), and the shipping cost is $10. The shipping cost for the $60 item is $60/$100*$10 = $6, and the shipping cost for the $40 item is $4.
What is another word for the price of something?
The word "cost" usually means the price of acquiring a thing or service.
What is relevant rang?
Relevant range is an accounting term that pertains to the minimum and maximum value. It sets the cost boundary in a certain activity level.
In management accounting what are relevant costs?
Relevant cost is that cost which will be affected due to the decision company going to make.
Is depreciation a relevant cost?
Relevant to what? Depreciation is an accounting contrivance to diminish taxable income.
Define relevant range in accounting?
an increase or decrease on a company's fixed costs is however not only dependent on the relevant period but also on the relevant production range. The total fixed costs will remain constant if the relevant production range can be handled by the same number of production units, producing fewer steps. If a certain step ( certain cost level) encompasses the entire relevant range of activity, the costs are entirely fixed.
Why relevant range important?
outside the relevant range, variable cost and fixed cost behaviors patterns may change
Is the cost accountant under the general accountant?
Cost accountant is part of Management Accounting. General Accountants are are mostly relevant to Financial Accounting
What is relevant cost range?
The price range that an asset or commodity will fluctuate within. The relevant cost range for a barrel of oil has been increasing dramatically thanks to the US Biden administrations policies and the Ukraine - Russia war, for instance.
Describe the components and interrelationships of different categories of accounting?
The main categories of accounting include financial accounting, management accounting, and cost accounting. Financial accounting focuses on recording and reporting financial information for external users. Management accounting provides financial information to internal decision-makers and helps in budgeting, planning, and decision-making processes. Cost accounting analyzes the cost of manufacturing a product or providing a service. These categories are interrelated as the information produced in financial accounting is used by management accounting for decision-making, and cost accounting employs the techniques and information provided by both financial and management accounting.
What happens as the level of activity decrease within the relevant range?
Although fixed cost per unit decreases with increases in activity levels, total fixed cost is not affected by changes in the activity level within the relevant range.
Does a course for basic accounting training cost much?
Well that depends on who is offering the accounting training cost and it also depends on what you consider to be much. It is a subjective question and from my perspective, I would say that general, they do not cost much but I am a multi-millionaire so it is all relevant.
Which cost will change with a decrease in activity within relevant range?
unit fixed costs and total variable cost
What is Similarties between management and cost accounting?
HELLO DIFFERENCE BETWEEN MANAGEMENT AND COST ACCOUNTING IS AS FOLLOWS:- COST MANAGEMENT MEANS-: cost management and cost analysis, and organizations, including materials, labor, effort and time for each activity in the manufacture and supply of goods and services. This information can be used to improve the efficiency and overall cost. COST ACCOUNTING MEANS :-Uses accounting entry finance, operations, suppliers, customers and competitors to conduct internal decision and planning.
