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The sum of the explicit and implicit costs incurred in the production process is called?
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∙ 11y ago
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∙ 11y ago
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What is the difference between general and administrative expense and overhead expense?
General and administration expenses are those expenses incurred to run day to day business activities. Overhead expenses are factory expenses incurred to run the day to day activities of running production process.
What do you mean by process costing?
The production is continuous. The product is homogeneous. The process is standardized. The output of one process becomes the raw material of another process. The output of the last process is transferred to finished stock.
Is fixed cost the same as sunk cost?
Sunk cost is that cost which is incurred in past so in decision making process any cost which is incurred in past has no effect on future events and due to which all fixed cost which are also incurred in past has no effect in future that's why it is not relevent for decision making process, so for decsion making point of view yes fixed cost is sunk cost.
What is the Summary of lean production in managerial accounting?
lean production is a business process to reduce the cost only. lean production is a business process to reduce the cost only.
Why is Equivalent units of production used in Process Costing?
To ascertain the cost of production
What parts of the brain process explicit and implicit memory?
I think its the bit on the bit on the bit on the bit on
Describe the three different process addressing mechanisms?
1.Explicit Addressing 2.Implicit Addressing 3.Link Based Addressing
What does implicit process mean in person centred therapy?
In person-centred therapy, implicit processes refer to the underlying thoughts, feelings, and experiences that may not be consciously acknowledged by the individual but still influence their behavior and interactions. The therapist seeks to help clients explore these unconscious aspects to gain insight and self-awareness. This can lead to a deeper understanding of oneself and facilitate personal growth and healing.
What does 'implicit process' mean in counseling?
Probably best is to define the opposites; Explicit means to define directly, i.e. "We will build a bridge using the following steps, etc., etc., etc."" Implicit means defining but not describing; "We'll be working together to help you"
Is Standard Cost same as actual cost?
Standard cost is that cost which is budgeted at start of production while actual cost is that cost which actually incurred by business both of them can be same if actual cost incurred is same as allocated or determined in budgeting process using standard cost otherwise there will be difference.
What does 'process' mean in counseling?
Probably best is to define the opposites; Explicit means to define directly, i.e. "We will build a bridge using the following steps, etc., etc., etc."" Implicit means defining but not describing; "We'll be working together to help you"
What is the difference between general and administrative expense and overhead expense?
General and administration expenses are those expenses incurred to run day to day business activities. Overhead expenses are factory expenses incurred to run the day to day activities of running production process.
What is equivalent units of production?
The Finishing Department of Edwards Company has the following production and cost data for July: transferred out 4,000 units started 2,000 units that are 40% completed at July 31 Materials addes $30,000; conversion costs incurred $19,200 Materiales are entered at the beginning of the process. Conversion costs are incurred uniformly during the process. Compute the equivalent units of production for materials and conversion costs for the month of July. Compute unit costs and prepare a cost reconciliation schedule.
Which stage of the listening process may be influenced by stereotyping and implicit personality theory?
The stage of interpretation in the listening process may be influenced by stereotyping and implicit personality theory. This is when individuals assign meaning to the information they have received, and biases based on stereotypes or preconceived notions about someone's personality can impact this interpretation.
What does production process?
production process means the art because it is in dt
What is imputed cost in sap?
Sometimes it is found that in the production process the entreprenure e factors of production which are owned by him. now for these factors of production he is not paying anything, but actually he is loosing the earning he can earn by hiring them. This loss is considered as the cost of production and is referred as Imputed cost or Implicit Cost. As for example a farmer is cultivating in his own land, so, he need bot to pay the rent, but money which he can earn as rent is the Imputed Cost here.
What is intermittent production?
A intermittent production process a production process in which the production run is short and machines are changed frequently to make different products.
