0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
A difficult problem in calculating the total costs and expenses of a department is?
Assigning indirect expenses to the department
What is the classifying process in accounting?
Classification in terms of accounting is when the company accounts are determined for the chart of accounts. This classification helps the accounting department to allocate costs, expenses, and revenue to the correct accounts within the accounting system to appropriately track them.
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.
Why do companies allocate cost?
Companies allocate costs so that all elements that are part of that cost share the incurred costs. It is like spreading the costs amongst those that use it. Companies allocate costs merely to assign responsibility of those costs to either several departments within that company or to just one department. For example, think of a multi-divisional business that has to provide a security service to protect its building, all divisions in that business will share the costs of the security service.
What are expenses that are not easily associated with a specific department and which are incurred for the benefit of more than one department?
G
What are the three basic methods to allocate service department costs to production departments or programs in a not-for-profit organization?
There are three basic methods to allocate service department costs to production departments or programs in a not-for-profit: (1) the direct method; (2) the step method; and (3) the reciprocal method.
A difficult problem in calculating the total costs and expenses of a department is?
Assigning indirect expenses to the department
What is the classifying process in accounting?
Classification in terms of accounting is when the company accounts are determined for the chart of accounts. This classification helps the accounting department to allocate costs, expenses, and revenue to the correct accounts within the accounting system to appropriately track them.
What is cost categories in tally9.0 software?
cost categories are used to allocate the expenses, sales and purchases etc in various departments of a comapany. let us understand it with an example: suppose the predicted tarvelling expenses of company is 50000 rupees per month. now we can allocate it in various departments like sales, accopunts, hr etc. with help of cost catagerois and also pre define the expenses. cost categories are used to allocate the expenses, sales and purchases etc in various departments of a comapany. let us understand it with an example: suppose the predicted tarvelling expenses of company is 50000 rupees per month. now we can allocate it in various departments like sales, accopunts, hr etc. with help of cost catagerois and also pre define the expenses.
What is meant by cost unit?
Cost unit is that department in company which causes the cost to allocate the product like manufacturing department, administration department etc.
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.
Why do companies allocate cost?
Companies allocate costs so that all elements that are part of that cost share the incurred costs. It is like spreading the costs amongst those that use it. Companies allocate costs merely to assign responsibility of those costs to either several departments within that company or to just one department. For example, think of a multi-divisional business that has to provide a security service to protect its building, all divisions in that business will share the costs of the security service.
What is service department in an automobile industry?
it department that service your car
What department manages the National Parks Service?
The National Park Service is under the U.S. Department of the Interior
What are expenses that are not easily associated with a specific department and which are incurred for the benefit of more than one department?
G
What department is the food and nutrition service a part of?
The Food and Nutrition Service is an agency of the US Department of Agriculture.
Is stationery expenses are included in administrative expenses?
Yes it is part of administrative expneses because most of stationary is utilized in administration department.
