What is the difference between full environmental costing and full private costing system in environmental management accounting

Q: After understanding and studying Standard Costing: 1. Which of the following management function is…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: How does standard costing improves the control function? Comment with examples.

A: A standard costing framework is an accounting instrument utilized for assessing required creation…

Q: Explain the Role of environmental costing in improving organisational performance

A: Environmental Costing is an important tool for understanding the role played by the Natural…

Q: Which of the following would NOT be considered an activity for the purposes of an activity-based…

A: Introduction: Activity based costing: Its also called As ABC method. According to the Actual…

Q: Which of the following is the proper sequence of events in an activity-based costing system? A.…

A: Activity-Based Costing or ABC is a managerial accounting method that assigns certain indirect…

Q: how useful is the activity based costing information isto the internal users in the organisation?…

A: Activity based costing is an approach to the costing and monitoring of activities and costing final…

Q: Why are top management support and cross-functional involvement crucial when attempting to implement…

A: Activity based costing system is a form of costing system in which cost is analysed by dividing the…

Q: Explain whether the production manager should be held accountable for each allocated cost as…

A: The performance of a manager should be evaluated using controllable costs only. All the other costs…

Q: Why is the form of activity-based costing unacceptable for external financial reports?

A:

Q: ers choose  between applying predetermined overhead rates or actual overhead rates.

A: Predetermined overhead rates refer to the rate which is used to apply  manufacturing overhead to…

Q: How has been the implementation of activity based costing in the service sector

A: Activity based costing: It is the method of allocating the cost of overheads by assigning these…

Q: When evaluating the performance of a manager, why shouldfixed costs be divided into the categories…

A: Controllable expenditure: Controllable expenditure is an expenditure that is directly controllable…

Q: You have been asked to install a costing system in a manufacturing company. What practical…

A: The Answer :

Q: Which of these statement is TRUE for a standard cost system? A) Standard cost systems help managers…

A: Lets understand the basics. Standard cost is a cost which is decide by management to be incurred…

Q: Are activity-based costing systems appropriate for the service industry? Explain.

A:

Q: Cost accounting is an area of accounting concerned with cost determination, cost control and cost…

A: solution : Cost accounting is an area of accounting concerned with cost determination, cost control…

Q: What is the most important purpose of the cost of production report

A: Given: The importance and use of cost of production report.

Q: Describe the concept of management by exception and explain how standard costs help managers apply…

A:

Q: Why is the first stage of the allocation process in activity-based costing often based on…

A: Activity-based costing: Activity based costing is allocating the expenses as per the activities and…

Q: Discuss standard costs and indicate how they can be used by management in planning and control.

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Using a CPA firm to represent the service industry, discuss how activity-based costing could be used…

A:

Q: What variables should be considered while selecting between a task order and a process cost system…

A: Process costing: process costing is a costing method used by companies that produce homogeneous…

Q: Describe the difference between direct and step-down methods to allocate service department costs to…

A: Service departments are those department which provides services to other departments like other…

Q: Is Standard costing still a useful tool for the Management accountant? How could it be adapted to…

A: Costing Accounting- A cost accounting system is a type of perpetual inventory accounting system that…

Q: Question 2: Discuss what may be the issues in using process costing to estimate the cost of the…

A: Process costing is a significantly costing system to measure, monitor and control under different…

Q: What is meant by Activity Based Costing? How does it differ from Absorption costing? Is it suitable…

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: Shipping, selling, marketing, sales order processing, return processing, and advertising activities…

A: Shipping, selling, marketing and advertising activities are indirect cost to the product or the…

Q: Which of the following characteristics would be an indicator that a company would benefit from…

A: Activity-based costing: Activity-based costing is the method of costing is used by the company in…

Q: Define standard costs and explain how they assist managers in controlling costs.

A: standard cost: Standard cost is an estimated or predetermined cost based upon existing conditions.…

Q: What are the essential factors for installing a cost accounting system? Explain

A: A cost accounting system is a system of…

Q: Discuss the role of Flow Cost Accounting in Environmental Cost Management. Cite examples if…

A: Flow cost accounting: Flow cost accounting is one of the environmental cost management tools that…

Q: Why would a corporation choose process costing over task order costing? How are the two systems…

A: Here is the Answer

Q: How are cost of production reports used for controlling and improving operations?

A: Production cost report: A production cost report is a comprehensive report prepared for each…

Q: assess if task costing or process costing would be a more suitable method of accounting. • *An…

A: solution : concepts involved task costing               Task costing is a method of costing where…

Q: What are the cost estimation methods? What is their importance and can you provide an example of how…

A: Cost Estimation: The process of predicting the financial and other resources required to finish a…

Q: Are the concepts underlying a relevant-cost analysis still valid in an advanced manufacturing…

A: Activity-based costing: It is a method that helps in finding the activities performed by a company…

Q: Which of the following is a benefit of activity-based cost management system? a.It makes it easy to…

A: Activity based costing is a method of allocating indirect costs to the products or services based on…

Q: Identify and discuss the factors that affect the focus and practice of cost management.

A: The practice of managing and organizing the expenses associated with running a firm is known as cost…

Q: Discuss the role of Flow Cost Accounting in Environmental Cost Management. Cite examples if…

A: Material flow cost accounting is a standardized technique used by organizations to boost their…

Q: “To ensure unbiased cost allocations, fixed costs should be allocated on the basis of estimated…

A: Cost:   It is the monetary value incurred by a company to produce a product or a service.

Q: 2 Which of the following is least likely to be classified as a facility level activity in an…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…