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A shared cost is an expense that is incurred by multiple functions or products within an organization, often contributing to overall operations. These costs cannot be directly attributed to a single product or function and are typically allocated among various departments or product lines based on specific criteria, such as usage or revenue generation. Examples include facility maintenance, utilities, and administrative salaries. Proper allocation of shared costs is essential for accurate financial reporting and performance evaluation.
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What are the main functions of cost department of manufacturing company?
calculation price for products: materials, labor, overhead, packing, tax
Functions of cost department?
The functions of the cost department are quite diverse. The main functions include budgeting, bookkeeping, reconciliation of accounts, cost reviews and so much more.
What is cost apportionment?
assignment ke liye chahiya..........haha... Cost accounting is the sharing of a total cost that was incurred by different cost centers. The total cost is apportioned (shared) among the different areas based on the most suitable condition for sharing the cost. For example the expense of rent is best shared on the basis of floor area and the expense of supervision is best shared on the basis of number of employees.
What is a method of approximating cost functions?
Transaction analysis
What is high volume products and low volume products in activity based cost?
Some products are high volume and low cost if they can be produced by machines cheaply and easily from heap products and sold at a large profit margin. The opposite would be low volume high cost items.
What is the difference between block-funding and a shared cost program?
Block funding is money provided by a national government to a regional government without a specific indication of how and where that money must be spent. Shared cost programs are expenses that can be allocated to two or more departments or products on the basis of shared benefits.
How much does a typical shared Linux rack mount server cost?
A typical shared Linux rack has a variety of prices. The price depends on the qualitlily of the one you get, which brand you get, sometimes you pay for the brand. Price also depends on how many functions it has but a typical one cost 395 dollars.
What are the main functions of cost department of manufacturing company?
calculation price for products: materials, labor, overhead, packing, tax
What are the dimensions of quality for manufactured products and rendered services?
There are several dimensions of quality for manufactured products and rendered services. These include the cost and longevity of the product or service.
Importance of cost allocation?
Cost allocation allows a company to determine the amount each item produced will cost. An effective cost allocation will be able to track down the shared costs of production not only to the divisions but also to the products and customers that use those costs.
Functions of cost department?
The functions of the cost department are quite diverse. The main functions include budgeting, bookkeeping, reconciliation of accounts, cost reviews and so much more.
How much is a Crosscut Shredder?
The cost of a cross-cut shredder varies greatly depending on functions, quality, and brand. The price range is large. One can be found for under $50. Others can cost several thousand dollars.
What is cost apportionment?
assignment ke liye chahiya..........haha... Cost accounting is the sharing of a total cost that was incurred by different cost centers. The total cost is apportioned (shared) among the different areas based on the most suitable condition for sharing the cost. For example the expense of rent is best shared on the basis of floor area and the expense of supervision is best shared on the basis of number of employees.
What is the cost of a pound of lamb?
That varies based on where you want to buy it. Different states and countries will price products differently depending on several factors, such as taxes, cost of living and how much it cost them to acquire the pork in the first place.
What cost system first traces cost to activities and then to products?
Job cost
Is common cost traceable cost or untraceable cost?
Common costs are shared between the units ie departments or products. Traceable costs are specific to the unit. While I've never heard common costs being called untraceable they are cannot be traceable to the specific units while they are common to all units. They are either traceable or common.
How are cost pools and cost drivers related?
Cost pools are assigned to products using cost drivers. The cost drivers measure the number of individual activities undertaken or performed to produce products or provide services.
