What is meant by classifying costs (a) functionally and (b) behaviorally? Why would a company be concerned
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 58% (12 reviews)
Functionally classifying a cost refers to classification based on the reason the co...View the full answer
Answered By
Susan Juma
I'm available and reachable 24/7. I have high experience in helping students with their assignments, proposals, and dissertations. Most importantly, I'm a professional accountant and I can handle all kinds of accounting and finance problems.
4.40+
15+ Reviews
45+ Question Solved
Related Book For
Cost Accounting Foundations and Evolutions
ISBN: 978-1111626822
8th Edition
Authors: Michael R. Kinney, Cecily A. Raiborn
Question Posted:
Students also viewed these Cost Accounting questions
-
What is meant by behavioral red flags?
-
What is meant by functional obsolescence? Could a new building suffer from functional obsolescence?
-
What is meant by the term opportunity costs when evaluating from different projects? For example, the opportunity cost of going to college is that you might not be able to pursue a 2nd job to earn...
-
A triangular truss structure is shown below. If all truss members are 2.0 m long (a, b, & c in the sketch) and forces L and Rare both 8.0 kN, then what is the force in truss member a? Assume that the...
-
Net sales, net income, and total assets for Urbana Shipping, Inc., for a five-year period follow: 1. Compute trend percentages for each item for 2013 through 2016. Use 2012 as the base year and round...
-
An air conditioning unit in a car is being controlled by a microprocessor and a number of sensors. a) Describe the main differences between control and monitoring of a process. b) Describe how the...
-
List specific bylaws clauses that are bound to change as the organization evolves. How might these issues be handled in a start - up board and then in a more mature board?
-
As an auditor for the CPA firm of Valente and Ardvino, you encounter the following situations in auditing different clients. 1. PM Corporation is a closely held corporation whose stock is not...
-
How many days of work-in-process (WIP) do you have if you operate five days a week, there are 8,260 units dwelling in a buffer, and you ship on average 27,500 units per month? I need typed answer
-
The following table shows data for a simple production function. a. From the information in the table, calculate total and average products. b. Graph the three functions (put total product on one...
-
How does absorption costing differ from variable costing in cost accumulation and income statement presentation?
-
Is variable or absorption costing generally required for external reporting? Why is this method preferred to the alternative?
-
The following account balances are provided for Rustic Company at December 31, 2004. Revenues and expense accounts cover the fiscal year ending on that date. All numbers are dollars except shares...
-
The T-accounts for Equipment and the related Accumulated Depreciation-Equipment for Blue Spruce Company at the end of 2022 are shown here. Beg. bal. Equipment 81,500 Disposals 23,800 Acquisitions...
-
Consider a fishing community with a large number of individually-operated fishing boats. All of the boats are the same and catch the same type and quality of fish. The boats are simple and are not...
-
1 . The history of the convergence between US GAAP and IFRS, including when and how it formally began. 2 . The current status of the convergence and the apparent policy reason ( s ) for this status....
-
Question 7: A rod of mass 9m and length is pivoted at point P as shown in the figure. A bullet of mass in hits and sticks to the end of the rod. Find the speed of the bullet (vo) for the rod-hullet...
-
A company has the following assets in a CGU: Land: $650,000 Building: $1,118,000 Equipment: $832,000 Assume that due to a change in the competitive environment, the fair value less costs of disposal...
-
Philip D. Lamprecht was one of the founding members of an accounting firm called Jordan & Company. He and the other members of the firm formed an LLC in 1998 for the purpose of acquiring an office...
-
The electric field due to a line charge is given by where l is a constant. Show that E is solenoidal. Show that it is also conservative. E =
-
Consider the heat conduction in a thin insulated bar of length \(3 \mathrm{~m}\) where the initial temperature at \(t=0\) is \(f(x)=15-10 x^{\circ} \mathrm{C}\) and the ends of the bar are kept at...
-
Refer to Apple Inc.'s financial statements in Appendix A and online in the filings section of www.sec.gov. Assume that Apple completed the following selected transactions during 2014: a. Made company...
-
Refer to Under Armour, Inc.'s, financial statements in Appendix B and online in the filings section of www.sec.gov. Suppose you are an investor considering buying Under Armour, Inc.'s, common stock....
-
Carter Corporation made sales of $900 million during 2016. Of this amount, Carter collected cash for $871 million. The company's cost of goods sold was $280 million, and all other expenses for the...
-
Suppose your parents are getting ready to retire and decide to convert some of their retirement portfolio, which is invested in the stock market, into an annuity that guarantees them a fixed annual...
-
Margaret analyzes segment-related information of a multinational company. She is trying to evaluate each segment's effective utilization of its assets. Margot should conduct a
-
Financial managers evaluating a six year investment project with initial cash flow near zero being negative and all other future free cash flows being positive if the manager finds of the NPV of this...
Study smarter with the SolutionInn App