Under JOB COSTING all costs relevant to specific jobs are maintained separately to find out the total cost and revenue. Under BATCH COSTING all costs are allocated to production process in batch and there is no separate record for how much any type of material or labor allocated to which units of products normally in mass productions units.
Luddites resisted the labor-saving machines that were costing them their jobs
Absorption costing is a methodology that seeks to account for all relevant costs into a finished good or product. This would include overheads as well as direct material or labor costs. This is usually not a accounting method used for sales or marketing but rather to gauge the actual costs of production and the cost of idling plant and machinery.
Relevant costing is important to good business decision making because it allows a company to price their goods and services for maximum sales. Without the ability to make sales, no business will survive.
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.
someone told me the name of an employer. How can i find out if they actually work there?
Depreciation is a sunk cost, so you should ignore it in relevatnt costing. you shoud be asking yourself the following question: can I avoid depreciations once I have bought the asset? You should always ignore deprecition when answering a relevant costing questions. You have already incurred the cost of the asset and as a result you can not avoid deprecition, that is why it is a sunk cost. Peace Tshepo
Direct labor
False
Under absorption costing overheads are allocated to production based on predetermined overhead rates like machine hours, or direct labor hours etc while in direct costing overheads are allocated based on activity performed and relationship with production units.
Full costing information is perceived by some critics as not very useful, because it can be backward-looking: example- it includes information irrelevant to decision making, but excludes some relevant information.
If direct labor cost creates impact or influences the decision then it is relevant cost but if direct labor is not creating influence or changing in decision then it is irrelevant cost for example direct labor cost remain same irrespective of whatever the decision then direct labor cost is also irrelevant.