1. How are value added activities are defined from a customer viewpoint? 2. Additionally, provide one example of a value added activity and one example of a non-value added activity.

Q: he management wants to know about the cost behaviour and how to classify the cost according to its…

A: Cost behaviour refers to an aspect which helps in indicating the change incurred in costs when there…

Q: provide an example of a function/operation that is a cost for a company

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: 1.Discuss sunk costs and opportunity cost.

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

Q: Explain whether the organization would produce the information when the expected costs is higher…

A:

Q: Question 2 Direct costs: are incurred to benefit a particular accounting period. are incurred due to…

A: Direct cost are those cost which can be directly link to the manufacturing of goods or rendering of…

Q: b. Classification of costs may be based on the information needs of management and their nature.…

A: Cost- Cost states all types of cost related to manufacturing of goods, operations of business, etc.…

Q: From the choices presented in parentheses, choose the appropriate term for completing each of the…

A: Period Cost: These are the costs other than the product costs. These costs are not incurred in…

Q: An important feature of a cost center is that a. It uses only monetary information b. It must be an…

A: Solution: The important function of a cost center is to track costs. The manager of a cost center is…

Q: What is the value of customer relations and customer service?

A: Customer relations is the relationship with customer and the focus of which is to build customer…

Q: Give an example of a common resource in an organization. List some of the opportunity costs…

A: Opportunity cost: Opportunity cost refers to the forgone revenue that could have been generated…

Q: Responsibility centers typically involve cost, profit, and investment centers. What is the basic…

A: A responsibility center is a functional entity within a company with its own aims and objectives,…

Q: nitng information fulfills the following purposes. Give an example of situation of profit…

A: Management accounting is also known as management-oriented accounting. Essentially, it is the study…

Q: What level of importance do product costs play in the business process? what kind of management…

A: Product cost: Cost incurred to produce a product is called product cost. It includes the cost of…

Q: Discuss the characteristics and costs of useful information. What makes information useful and what…

A: Accounting information is broad in nature and should be structured to meet the information needs of…

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

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Q: Compute It can use ABC information for what decisions? a. Cost cutting b. Pricing c. Product mix d.…

A:

Q: TRUE OR FALSE ABC's objective is to trace costs to products or services as directly as possible.

A: Activity-based costing. This is an overhead allocation method in which overhead and Indirect costs…

Q: 7. Responsibility Accounting: a. What is a cost center? Give an example of a cost center b. What is…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…

Q: What term describes all business processes associated with providing a product or service? O The…

A: A product is a tangible item that can be sold to the customers.  Service is an intangible item which…

Q: Explain how the choice of the type of responsibility center (cost, revenue, profit, or investment)…

A:

Q: Identify a value adding activity from twitch value chain and explain why you believe it's adding…

A: A VALUE -ADDED activity is any action taken that increases the benefit of a good or Service's to a…

Q: 1. Planning is a function that involves ? 2. Product costs are costs that are a neccessary and…

A: Hi! There are two questions given, but we are entitled to solve only one question at a time so I…

Q: pic is about Cost Accounting. Please check the picture for the problem. Requirement: Determine the…

A: =  Sales - purchases of raw materials- opening inventories + closing inventories - direct labor -…

Q: Why should each of the following be familiar with compounding and present value concepts? A…

A: Present Value states that an amount of money today is worth more than same amount tomorrow.…

Q: Name a firm or organization you know of that you are reasonably sure uses cost management andexplain…

A: Cost Management: Cost management involves the development and use of cost management information…

Q: In the value chain, primary activities are: a. Directly involved in the production, marketing and…

A: Answer: The correct option is Option (a).

Q: In the value chain concept, upgrading E-Commerce is considered. What kind of activity?

A: The value chain concept was first introduced and popularized by Michael porter and since then has…

Q: Cite a specific example of non-value added activity that can be eliminated in a particular industry.…

A: NVA activities are tasks that do not add to the shape or function of the market. Filing, copying,…

Q: Explain cost concepts it is relevant for the company to be aware of in decision situations such as.…

A: Here discuss about the details of the various costs which are incurred to the business entity which…

Q: How cost accounting is useful for external user as Government ,and customer etc,support your answer…

A: Cost accounting gives complete details of the cost incurred in the manufacturing of the product and…

Q: Describe the earned value management terms.

A: Introduction: The concept of earned value management  is an important tool both for the manager…

Q: Which of the following is not among the main uses of Activity-Based-Management ABM Select one: O a.…

A: Activity Based Management is a method or procedure of analysing profitability of the company by…

Q: Choose the most appropriate answer(s): Calculation of product cost, gathering information for…

A: SOLUTION-   EXPLANATION- COST ACCOUNTING IS AN ACCOUNTING METHOD THAT AIMS TO CAPTURE A COMPANY'S…

Q: Responsibility Centers include the following except: A) Profit B) Revenue C) Process D) Cost

A: These are the type of responsibility center i.e. expense center, profit center, investment and…

Q: What is meant by customer-profitability analysis? Give an example of an activity that might be…

A: Customer Profitability Analysis:  It is the process of ascertaining the amount of revenue earned…

Q: How are the value chain and management accounting related?

A: Because you asked many questions, we will resolve the first one for you. Please mention the question…

Q: Classify the following activities as per value chain analysis: 1.Communication, pricing and channel…

A: Value chain analysis are classified in two types of activities namely primary and secondary…

Q: is the delivery of products or services to customers. O a. Distribution O b. Customer service O c.…

A: Lets understand all the terms mention in the question to determine right answer. There are various…

Q: t and explain? thank you! Please include the reference if it'

A: INTRODUCTION  :-  Cost denotes the quantity of cash that a corporation spends on the creation or…

Q: Explain the concept of a product family and its relationship to value stream accounting.

A: Product family is the grouping of same kind of product and services which go through the same…

Q: The flow of goods and services to consumers is illustrated by

A: Relationship of Goods and Service price with Consumer  Supply Chain of goods and Service from…