Standard cost systems facilitate the management practice known as  A) management development. B) management by exception. C) just-in-time management. D) managing by the numbers.

Q: In the field of cost accounting, one of the most critical decisions made by a manager is the type of…

A: Choosing the type of technology that the organisation will use to produce its products or deliver…

Q: Using ABC to allocate manufacturing overhead can helpmanagers to:a. Identify what activities drive…

A:

Q: A very key concept in managerial accounting is how costs "behave", either fixed or variable. Once we…

A: Fixed Cost: These are costs that will remain the same irrespective of production or number of units…

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: a. Business decisions rely on certain characteristics which are based on intelligent and…

A: Hi student, you have asked multiple non-related questions in one go which is not appropriate. So,…

Q: When allocating support department costs, managers must identify cost pools.  The choice of cost…

A: Cost pools represents the various cost incurred in the production process of the company that have…

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: When it comes to cost behavior,

A: Cost Behavior is that the amendment within the behavior of a price (or costs) thanks to a amendment…

Q: identify managerial accounting techniques that have been developed to meet positioning…

A: SOLUTION- Managerial accounting refers to the analysis and presentation of financial data for the…

Q: A manager's needs regarding cost management and accuracy in product costing, and the underlying…

A: Definition: Product Cost: Product cost is the total quantitative value of all the efforts and…

Q: Write an executive summary on the following with illustrative examples and applications. A.…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: is commonly suggested that a management accounting system should be capable of supplying different…

A: Solution-                                                              Costs , their purpose and…

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: The area of management concerned with designing and overseeing the process of production is which of…

A: Operations management is the management of operational processes inside a company to make the…

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: The internal cost analysis process involves the following in what order? (A) Identify the links…

A: Internal cost analysis used for analysing value creating process and opportunity to reduce its cost…

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: Management accounting is a structure for: a. Costing b. Accounting c. Decision making d. Management

A: Management accounting helps in preparation of reports and helps in decision making process for the…

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

A:

Q: 1 Why are top management support and cross-functional involvement crucial when attempting to…

A: Activity based costing is a method of costing that identifies all the activities happening and being…

Q: explain and describe the various costing method in management accounting.outline their advantagesand…

A: A cost is assigned to a product made using product costing methodologies. Each of these strategies…

Q: Title: How Activity Based Costing system helps the industry to improve performance Note:

A: A costing approach known as activity-based costing (ABC) assigns overhead and indirect costs to…

Q: Describe how life-cycle costing facilitates strategic management.

A: Life cycle costing:   Life cycle costing is an economic analysis used by the selection of…

Q: how does standard costing system helps managers to make decisions

A: Standard costing is said to be a practice where expenses for production process are estimated in…

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: The calculation of unit cost information via the use of task order costing is critical in the…

A: This question explains about task order costing is crucial in the management process for the…

Q: indirect material, mixed cost , budgeting, margin of safet

A: The below mentioned are the definitions of indirect material Mixed cost Budgeting Margin of safety

Q: Describe ways the production cost report can be used by management.

A: Production Cost Report: A report which gives information about the total units produced and total…

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: 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: How is cost accounting information used by management? Why is unit cost information important to…

A: Cost Accounting:-It is a method of calculating and assessing the cost and expenses related to the…

Q: Based on the assignment and what you know about management accounting, what do you believe is the…

A: Management accounting :             The branch of accounting which facilitates the information from…

Q: What types of management reports are prepared by the cost accounting system?

A: Definition: Cost accounting systems: It is a system which measures, record, and reports the product…

Q: Discuss The impact of applying an Activity-Based Costing System on the businesses' financial and…

A: What is Activity-Based Costing? Activity-based costing ABC is a method for assigning costs to…

Q: Explain and describe the various costing methods used in management accounting

A: Various costing approaches are used in management accounting to help a company become more organized…

Q: 2. For purposes of making decisi

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

Q: the course tittle of this assignment from is:- Advanced cost and Management Control System 1.…

A: SOLUTION 2-                                                 OVERHEAD ALLOCATION Overhead allocation…

Q: Evaluate this using the principles of management and cost accounting.

A: Principles of Management and Cost Accounting The basic principles which are evolved in the…

Q: Describe the role of management accounting in providing information to managers for decision making,…

A: Management accounting is the accounting done for the managers and helps the management to perform…