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How do traditional cost assignment systems assign direct costs?
Traditional cost assignment systems typically would assign directly to the cost objects the costs of those resource consumptions that can be economically traced directly to units of output requiring the resources.
What are the criticisms of traditional management accounting?
Only direct costs can be directly attributed to the funding agencies and their causes. The management accounting as a tool of the accountancy donå«t form the companyå«s production process in terms of value
The costs of a firm that are paid directly in money are called?
Explicit costs!
What is cost for IKEA franchise?
I dont think anything has to be paid to IKEA Systems directly. But they do require 3% of your yearly sales and you are responsible for building your own store and all the costs.
What is overhead in accounting?
Overheads costs are indirect manufacturing costs which are not directly allocatable to units of products.
What things do variable costs include?
Variable costs vary depending on a company's production. Production, or output, and costs are included in variable costs. Production and costs are directly related.
Describe the differences between implicit costs and explicit costs?
Explicit costs are those that are a result of a product. Implicit costs are costs that are associated with a product, but they can't be directly linked to the product.
What are the hidden costs on fossil fuel systems?
The cost of the carbon pollution on the environment.The maintenance costs of equipment.
Where can one find the costs of flights to Dalaman?
One can find the costs of flights to Dalaman on a majority of websites. These costs vary depending on carrier, class, and other factors that normally determine flight costs.
What costs other than direct materials costs and direct labor costs incurred in the manufacturing process are classified as?
Indirect costs(salaries, materials not directly involved in manufacturing), period costs(selling and admin costs)
Are all costs variable?
Direct Cost are those costs that can be directly assigned to a production process. Indirect cost were those costs that cannot be directly assigned to production process but have to allocate to production. Variable costs are those costs that vary directly with the production level. Only Direct cost could be variable . But not all direct cost are variable. Thus direct cost contains both Variable and Fixed elements while indirect costs contains only fixed element.
Are all direct costs variable?
Direct Cost are those costs that can be directly assigned to a production process. Indirect cost were those costs that cannot be directly assigned to production process but have to allocate to production. Variable costs are those costs that vary directly with the production level. Only Direct cost could be variable . But not all direct cost are variable. Thus direct cost contains both Variable and Fixed elements while indirect costs contains only fixed element.
