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What is a predetermined cost?
It is the type of thing that means you think over again... you know you are determined but before you are you makes ure you are.
Why traditional cost systems distort product cost?
In traditional cost system overheads are allocated to products based on predetermined rate and that’s why some of that cost which is not related to that product charged to it and due to which actual cost of product cannot be determined.
Difference between Cost Allocation and cost apportionment?
Apportion means to assign cost based on a predetermined formula. For example, we would apportion a cost pool if the assignment of the cost was based on fixed amounts (e.g.,10 percent to cost objective one and ninety percent to cost objective two) or a three factor formula (e.g., a weighted average of sales, payroll, and asset value). In both cases the assignment of the cost is based on some predetermined method. Allocation means to assign cost on a rate or factor bases that attempts to assign cost using an allocation base that best measures a causal or beneficial relationship between the cost pool and the final cost objective.(e.g., direct labor hours, machine hours, etc.),
What is the role of a cost accountant in the business organization?
Cost accountants are responsible for establishing budgets for the organization. They also assign predetermined overhead rates for product, so that the business doesn't take a loss when they sell the product.
A is dormant code added to software and triggered at a predetermined time or by a predetermined event?
logic bomb
How do you compute predetermined overhead rate as a percentage of direct labor costs and direct labor hours?
Predetermined overhead rate based on direct labor cost = Budgeted overhead cost / direct labor cost / 100 Predetermined overhead rate based on direct labor cost = budgeted overhead cost / direct labor hours.
Definition of a predetermined overhead rate?
Predetermined overhead rate is that overhead rate calculated before start of production to allocate overhead costs to units of products by using some ratio in relation to some other cost like material cost or labor cost or labor hours etc.
What is a predetermined cost?
It is the type of thing that means you think over again... you know you are determined but before you are you makes ure you are.
What is the prefix for predetermined?
The prefix for "predetermined" is "pre-."
Why traditional cost systems distort product cost?
In traditional cost system overheads are allocated to products based on predetermined rate and that’s why some of that cost which is not related to that product charged to it and due to which actual cost of product cannot be determined.
Can high sea sale be a predetermined sale?
yes it can be predetermined
Why you charge production at pre determined factory overhead rate?
The predetermined factory overhead rate is the cost associated with all products produced by the company. This helps the company easily assign cost.
Is there any pro wrestling that isn't predetermined?
It is all predetermined about 3 days before,the only wrestling that is not predetermined is amateur wrestling.
What is a predetermined fee charged to members of an insurance plan?
predetermined fee
Difference between Cost Allocation and cost apportionment?
Apportion means to assign cost based on a predetermined formula. For example, we would apportion a cost pool if the assignment of the cost was based on fixed amounts (e.g.,10 percent to cost objective one and ninety percent to cost objective two) or a three factor formula (e.g., a weighted average of sales, payroll, and asset value). In both cases the assignment of the cost is based on some predetermined method. Allocation means to assign cost on a rate or factor bases that attempts to assign cost using an allocation base that best measures a causal or beneficial relationship between the cost pool and the final cost objective.(e.g., direct labor hours, machine hours, etc.),
What is the role of a cost accountant in the business organization?
Cost accountants are responsible for establishing budgets for the organization. They also assign predetermined overhead rates for product, so that the business doesn't take a loss when they sell the product.
How do I compute predetermined overhead rate as a percentage of direct labor costs?
Predetermined overhead rate = Est. total Manuf. Overhead Cost / Est. total amt of allocation base In this case, allocation base would be direct labor (as opposed to machine labor). Hope this helps
