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What is purpose of factory overhead applied and how this information can use by the cost accountant in minimum the cost of the product?
Factory overhead is what it costs to run the factory. The cost accountant can look at the cost of overhead to find ways to minimize it, resulting in the cost of the product being lower.
If the fixed cost of producing seven video games is 14 and the variable cost of producing seven video games is 12 how much is the total cost of producing seven video games?
$26
What is price costing?
price is the final and cost is went you work from the bining
Is depreciation on a machine a period cost or product cost?
product cost
Cost of a delivery truck is a period cost or product cost?
Should typically be a product cost.
How is a comparative advantage obtained?
by producing a product with a lower opportunity cost
How do cost and production interrelate?
Each product produced is a "unit of production". Each unit has some cost to produce. Therefore, the higher the number of units are produced, the higher the total cost of production.Marginal unit costs are a different issue. As production volumes increase, the marginal cost of producing one more unit may be either higher or lower than the cost of producing the one last made.
When does Country A have a comparative advantage over Country B in the production of televisions?
Country A has a lower opportunity cost for producing televisions.
Argument of the lower of cost?
The argument of lower cost is beneficial to go over information about a product price point. The goal is to make sure you get the best possible deal you can on the cost of the product or service that is being provided.
Differences between absulate advantage and comparetive advantage?
According to the definition I found, comparative advantage means being able to produce a product at a lower cost than others and absolute advantage means being the best at something or producing the best product.
At zero production what are variable costs?
At zero production variable cost will be zero because variable cost is the cost occured for producing a product but their will be some fixed cost.
During the 1920s Americans were producing and selling products at lower costs than their foreign competitors.?
trueYes, during the 1920's Americans were producing and selling products at a lower cost than their foreign competitors.
What is a positive return on capital?
A positive return on capital is a profit. When the sales of a product are greater than the cost of producing the product, the company will make a profit.
What is the meaning of frozen cost?
A frozen cost is normally a cost that is a fixed price. Frozen costs usually represent the cost of producing a base product before added revenue boosters.
How can a product achieve product differentiation?
products have both higher quality and lower cost than those of the competition.
Which of these would not be an example of misuse of resources?
using a coupon to lower the cost of a product
Advantage of factories?
The two largest advantages are lower cost and uniform product.
