Considering that it costs about that much now, and there's no sign of prices going down, I'd say the chances of law school costing less than $100,000 in 2015 are somewhere in the area of ZERO.
Over costing means charging more costs to items than it's actual cost while under costing means charging less cost then actual costs.
Over costing and under costing occurs because overhead cost is applied first using some ratio to find out the cost of product before the process of production done and actual cost found.
VARIABLE COSTING VERSUS ABSORPTION COSTINGAbsorption costing applies all manufacturing overhead to production costs while they flow through Work-in-Process Inventory, Finished-Goods Inventory and expenses on the income statement while Variable Costing only applies variable manufacturing overhead.Fixed manufacturing overhead is expensed immediately as it is incurred under variable costing while it is inventoried until the accounting period during which the manufactured goods are sold under absorption costing.
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.
that is so easy
The majority.
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.
the Utah Jazz can sodomize itself
Only in your dreams.
One can use FIFO, LIFO, or Average Costing as acceptable methods for accounting. Standard costing would be an unacceptable answer.
An air burst occurs under 100000 feet but the fireball doesn't contact the earth's surface.
Absorption costing does not understand the importance of fixed costs. In absortption costing, fixed costs are absorbed to unit, therefore it is hard to distinguish between variable and fixed costs. And also, the variability of profit will cause confusion, the reason is that the net profit varies with both sales and stock changed under absorption costing. Absorption costing does not understand the importance of fixed costs. In absortption costing, fixed costs are absorbed to unit, therefore it is hard to distinguish between variable and fixed costs. And also, the variability of profit will cause confusion, the reason is that the net profit varies with both sales and stock changed under absorption costing.