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The best way to figure cost, and driver cost is to install a vehicle tracking system. This will give you very accurate reporting on employee use and time. In addition, you can track your vehicles and be notified if they leave a route have been stolen and much more. I recommend the Millennium Plus, it is the latest technology and is very good value offering many useful features.
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How do you use the high-low method in estimating cost function with machine hours as the cost driver you have data machine hours kilowatt hours and total overhead costs for january-june.?
you have to subtract the cost at the lowest activity from the cost the the highest activity then subtract the lowest activity from the highest activity and divide both answers you got. in that way you find the variable cost.
Do Asian carp destroy property or cost?
Asian carp could seriously damage commercial fishing by crowding out other species in the U.S., costing fishermen and companies money.
Purchased 20 kg apples at 15 per kg and another 10 kg apples at rs 20 per kg what is average cost per kg?
20 kg @ Rs15 per kg cost Rs300 10 kg @ Rs20 per kg cost Rs200 Total: 30kg costing Rs500 So average cost per kg = Rs500/30kg = Rs16.67
How much does it cost to run electric 185 watts per hour?
185 watts will use up 185 watt-hours every hour. That is 0.185 kilowatt-hours each hour, costing about £0.03
How do you prepare any pharma product raw material costing?
I understand the question is for API (Active Pharma Ingredients) costing. Ensure correct Bill of Materials with quantities & rates (For Excise Free Zone - add ED / CST + Freight etc./ For Excise Paid Zone - Arrive Net of Mod-vat rate + CST). Multiple the quantities with rates arrive RM Cost & PM Cost. Get the actual yield quantity of batch. Divide the RM & Value by yield quantity. You will get the cost per Kg / Gram. Add conversion & packing charges as actual or as per Drug Price Control Order (DPCO). Add your margin and arrive at the selling price. You may deduct cost of some recyclable excipients.
What are the two stages of allocation in activity-based costing?
Identifying the activities and identification of cost drivers
What are the two stages of allocation in activity based costing?
Identifying the activities and identification of cost drivers
Activity-based costing is a means of more accurately accounting for direct labor cost?
False. Activity-based costing is used to allocate indirect cost into direct costs.Regardng direct cost, traditional costing is as appropriate as activity-based costing.
Cost allocation bases in activity-based costing should be a. cost drivers b. value-added activities c. activity centers d. processes?
C
How would you describe activity based costing?
Activity-based costing is a form of cost refinement, designed to obtain greater accuracy than traditional allocations in cost assignments for product costing and decision-making purposes.
What are the tools and techniques of cost management?
Activity based Costing, Target costing, Just in Time,Total Quality Management,
What are the differences between activity-based absorption costing system and traditional absorption costing system?
An activity-based absorption costing system defines the cost by how many activities a product unit uses. A traditional absorption costing system defines the cost by how much money went into making the product unit.
How is activity based costing better than traditional cost assignment systems?
Activity-based costing tries to take the nonuniformity of resource consumption across products into account in the assignment of costs.
How do activity-based costing and the traditional cost system treat idle capacity costs differently?
Traditional costing system allocates the idle capacity cost to completed units while activity based costing only allocates the cost of capacity which is utilized while remaining capacity is expensed to income statement as period cost.
Why activity based costing?
Activity based costing allocate the overhead expenses based on activities performed and that's why it is an accurate way to allocate overhead expenses while in absorption costing, overheads are allocated based on some ratios or predetermined rate which is not accurate method of allocation of cost.
What is the first step in activity-based costing?
Costs are assigned to activities from resource cost pools.
What is the first step in activity based costing?
Costs are assigned to activities from resource cost pools.
