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True or false direct labor-hours or direct labor cost should not be used as a measure of activity in an activity-based costing system?
False
What is containerisation?
Containerization is a type of system that is used with freight transportation. It is an intermodal type of transportation where the items are in containers.
The cost method that can be used most easily with the break-even analysis and other cost volume-profit techniques is?
process costing
What are the Problems of installing costing system in a business?
Main ConsiderationsIn view of the above difficulties and suggestions, following should be the main considerations while introducing a costing system in a manufacturing organization:1. ProductThe nature of a product determines to a great extent the type of costing system to be adopted. A product requiring high value of material content requires an elaborate systemof materials control. Similarly, a product requiring high value of labor content requires an efficient time keeping and wage systems. The same is true in case of overheads.2. OrganizationThe existing organization structure should be distributed as little as possible. It becomes, therefore, necessary to ascertain the size and type of organization before introducing the costing system. The scope of authority of each executive, the sources from which a cost accountant has to derive information and reports to be submitted at various managerial levels should be carefully gone through.3. ObjectiveThe objectives and information which management wants to achieve and acquire should also be taken care of. For example, if a concern wants to expand its operations, the system of costing should be designed in a way so as to give maximum attention to production aspect. On the other hand, if a concern were not in a position to sell its products, the selling aspect would require greater attention.4. Technical DetailsThe system should be introduced after a detailed study of the technical aspects of the business. Efforts should be made to secure the sympathetic assistance and support of the principal members of the supervisory staff and workmen.5. Informative and SimpleThe system should be informative and simple. In this connection, the following points may be noted:(i) It should be capable of furnishing the fullest information required regularly and systematically, so that continuous study or check-up of the progress of business is possible.(ii) Standard printed forms can be used so as to make the information detailed, clear and intelligible. Over-elaboration which will only complicate matte$ should be avoided.(iii) Full information about departmental outputs, processes and operations should be clearly presented and every item of expenditure should be properly classified.(iv) Data, complete and reliable in all respects should be provided in a lucid form so that the measurement of the variations between actual and standard costs is possible.6. Method of Maintenance of Cost RecordsA choice has to be made between integral and non-integral accounting systems. In case of integral accounting system, no separate sets of books are maintained for costing transactions but they are interlocked with financial transactions into one set of books.In case of non-integral system, separate books are maintained for cost and financial transactions. At the end of the accounting period, the results shown by two sets of books are reconciled. In case of a big business, it will be appropriate to maintain a separate set of books for cost transactions.7. ElasticityThe costing system should be elastic and capable of adapting to the changing requirements of a business.It may, therefore, be concluded from the above discussion that costing system introduced in any business will not be a success in case of the following circumstances:1. If it is unduly complicated and expensive2. If a cost accountant does not get the cooperation of his/her staff3. If cost statements cannot be reconciled with financial statements4. If the results actually achieved are not compared with the expected ones
What is the Strategic role of information system in business?
The strategic role of information in business has always been primarily to drive sales. It is dependent on the business model being used and the type of business practiced.
Would a process costing system be used to account for the cost of manufacturing an oil tanker?
true
Which method of costing is used in printing press?
process costing
Which costing method is used for external reporting purpose?
absorption costing
What countries is nestle in?
the is a nestle on mars did u no that I presume you mean 'Nestle' the sweet manufacturer. It would help if you used capital letters to start names, since in this case 'nestle' is a verb. Nestle the company started in Switzerland and has branches in many countries throughout the world.
What are the four different types of cost?
Job costing, batch costing and process costing job costing is used in a business where the production is made up of individual large jobs , each of which is different and has different inputs of materials and labour. batch costing is suitable for a business that produces batches of identical units, but each batch is for different units. process costing is the costing method applicable where goods or services result from a sequence of continuous or repetitive operations or processes.
What is the control method used by Nestle?
joint venture
What dictates product costing system in the company?
The accounting system the business uses determines how a business handles the cost of their products. The accounting system is used because it will help keep everything consistent in the organization.
What type of socket used to install system memory?
What type of socket is used to install system memory
What type of transmission line used in television system?
IR transmission type of transmission is used in television system .
What is the difference between process costing and operation costing?
Process costing and operational costing systems are used in accounting, usually in relation to the manufacturing sector. Both refer to the costs of production, but they differ in terms of methodology and application. Process costing is used in industries where the products are all basically the same, such as bricks or cement. Operational costing, on the other hand, is used in industries where the products are similar but may have some variation in terms parts or the quality of materials.
True or false direct labor-hours or direct labor cost should not be used as a measure of activity in an activity-based costing system?
False
What type of microprocessor is used in server based system?
which type of microprocessors are used in servers
