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What is the purpose of applying overhead costs to work in process?
To accurately apply costs to WIP so that the cost of the finished product reflects all the costs incurred to produce it
Is depreciation on a machine a period cost or product cost?
product cost
What role of cost accounting in manufacturing organization?
cost accounting plays very important role in manufacturing organisation.unless cost accounting system one can't get the cost of the product appropriately.Many organisations fix their selling price based on the cost information.Not only in ascertaining cost of the product it can be used as measurement for their performance
Cost of a delivery truck is a period cost or product cost?
Should typically be a product cost.
Why is cost accounting essential for management?
Cost accounting is used to calculate the per unit cost of product so if the management does not know the per unit product price they will not able to set the selling price of product and determine the profit per unit which they can earn and so many other important decision like these are dependent on cost accounting.
What are the factor of rising cost of product?
Supply and demand are the most important factors in the rising cost of a product.
What is the definition of a niche product?
A Niche Product is the product that is accurately fashioned to foregather the requirements of that primary segment.
What is the purpose of applying overhead costs to work in process?
To accurately apply costs to WIP so that the cost of the finished product reflects all the costs incurred to produce it
Speacking accurately or listening actively is important?
I would think to both speak and listen accurately would both be important.
Is depreciation on a machine a period cost or product cost?
product cost
Is factory supplies a product cost or period cost?
Product cost
Role of cost accountant in manufacturing organization?
cost accounting plays very important role in manufacturing organisation.unless cost accounting system one can't get the cost of the product appropriately.Many organisations fix their selling price based on the cost information.Not only in ascertaining cost of the product it can be used as measurement for their performance
What role of cost accounting in manufacturing organization?
cost accounting plays very important role in manufacturing organisation.unless cost accounting system one can't get the cost of the product appropriately.Many organisations fix their selling price based on the cost information.Not only in ascertaining cost of the product it can be used as measurement for their performance
Why is cost accounting essential for management?
Cost accounting is used to calculate the per unit cost of product so if the management does not know the per unit product price they will not able to set the selling price of product and determine the profit per unit which they can earn and so many other important decision like these are dependent on cost accounting.
Cost of a delivery truck is a period cost or product cost?
Should typically be a product cost.
Is fixed cost relevant in determining price of a product?
The fixed cost is relevant in determining price of a product. This is a cost that is associated with the product and will contribute to the total production cost of a product.
What are the necessities of cost accounting?
Basically, cost accounting is an area of accounting that measures, records & reports the product cost. It is important or necessary generally for 2 purposes. 1. determine cost. 2. control cost.
