What are the benefits enjoyed by tourism firm by adopting cost accounting?

Q: Companies with labor incentive manufacturing processes are most likely to benefit from sending…

A: Relevant costs: These are the costs that are required to be considered at the time of decision…

Q: How cost accounting helps tourism firm in determining the price?

A: Cost accounting makes the basic distinction between fixed and variable costs. This is then used by…

Q: Required: a) Use activity-based costing to estimate the cost of preparing: A wage and salary tax…

A: To calculate the cost of preparing a wage and salary tax return and a business tax return using ABC:…

Q: Which of the following is NOT one of the definitions of "Cost" concept? Select one: a. Cost means…

A: Cost is very broad term used in accounting. It denotes amount and level of expenses that can be…

Q: Service industry costing benefits. Select a service industry company of your choice that use costing…

A: A service company is a type of company that renders service to their customers which are intangible.…

Q: entive manufacturing processes are most likely to benefit from sending manufacturing operations…

A: Labour intensive refers to a production process where labour costs are the largest components. It…

Q: a) Use activity-based costing to estimate the cost of preparing: i A wage and salary tax return. ii…

A: Activity-based costing (ABC):   Activity based costing (ABC) framework was created to manage the…

Q: Select a manufacturing organization for justifying “Companies with labor incentive manufacturing…

A: While numerous partners accept laborer compensation in worldwide stock chains be possible to raise…

Q: Explain why is important for a business to understand their composite mix of products when…

A: Sales mix is the proportion of sales in quantity with respect to total sales quantity. It is…

Q: How would you recommend stabilizing the company's unit product cost?

A: Unit cost of a product is determined by dividing the total cost of the units produced by the total…

Q: Consider some of the consumer behavior topics for business-to-consumer (B2C) marketing. How might…

A: Business to customer [B2C] is a model in which the retailers (businesses) sell goods and services to…

Q: Required: a) Use activity-based costing to estimate the cost of preparing: A wage and salary tax…

A:

Q: Which one of this technique of coating c used in tourism firm and why that techn can be used?…

A: A tour operator incurs various costs such as transport, accommodation, meals, sight-seeing etc.…

Q: Being the accounting specialization student, explain the costing method followed by the ABC Company…

A: The answer for the question on the costing method followed by ABC Company to get required profit is…

Q: Explain the concept of a contribution margin and describe how it differs from gross margin. Also,…

A: Contribution Margin represents the incremental money generated for each product/unit sold after…

Q: The difference between informal and formal business selling

A: Informal and Formal Business : Formal business is a business that is well formalised and its goals…

Q: is this still applicable if the company uses cost model?

A: Under cost model, the property is recorded at cost less accumulated depreciation and impairment…

Q: What is the difference between the selling price,cost of sales and labour costs of an informal and…

A: The abbreviations CP and SP stand for Cost Price and Selling Price, respectively. The cost price of…

Q: Select a manufacturing organization for justifying the following quote “Companies with labor…

A: Labor costing is important when it comes to incremental and avoidable labor costs that are installed…

Q: Required: a) Use activity-based costing to estimate the cost of preparing: i A wage and salary tax…

A: ABC (Activity based costing) framework was created to manage the drawbacks of customary costing…

Q: How cost accounting helps tourism firm in determining the price? b. Which kind of decision can be…

A: The system of cost accounting is the process of ascertainment of costs by application of costing…

Q: Which of the following is not a reason for banks to use activity-based costing? a.to determine…

A: Activity based costing (ABC): Under activity based costing method, the activities responsible for…

Q: chicken. What is the impact on the cost? Briefly explain your steps to solve this business problem.

A: Government and industry regulations can affect the sales price of many products and services in many…

Q: How cost accounting covers the problem of Evaluation of alternative while buying

A: Cost accounting system is a framework that guides the firm to calculate their cost and helps in…

Q: Explain what cost behavious is and why it is important for business?

A: Cost Behavior is the change in the behavior of a cost (or costs) due to a change in business…

Q: List the advantages and disadvantages of different types of business. Explain the various costs…

A: Business organization refers to the formation of an entity with an objective to have higher profits…

Q: If you were a small business owner would you implement an activity based costing system? What…

A: Activity Based Costing- It is costing in which cost of overhead is assigned firstly to those…

Q: Cost of conducting business in a new location or with a new class of customer, including cost of…

A: PPE means property plant and equipment that is used by the business for a longer period of time.…

Q: ?Which of the following is part of the first big economic questions ?What goods and services are…

A: Each and every economy face the following three central Problems - 1. What to produce 2. How to…

Q: “A customer-profitability profile highlights those customers a company should drop to improve…

A: Customer profitability analysis: Customer profitability analysis is a management accounting tool…

Q: What is cost of goods sold, how to calculate cost of goods sold for manufacturing, merchandising and…

A: 1.Cost of goods sold : it the the cost incurred or value of  goods which are sold.   2 Calculation…

Q: Required: Describe what this information indicates about the differences in approach between the two…

A: Personal services mean to focuses on the benefits of the company. These services include a higher…

Q: 1.  why companies need to transfer price and advantages? 2. explain the transfer pricing method…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: 1.  why companies need to transfer price and advantages?

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

Q: What concept relates to the proportionate savings in costs gained when levels of production are…

A: Lets understand the meaning of all the terms given in the question. Accounting profit is a terms…

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: In making short-term business decisions, what should you do? Use a traditional costing approach.…

A: Business decision refers to large part of conducting business is making decisions.

Q: Companies benefit greatly from the use of a standard cost system, and the statement

A: This question deals with  the use of a standard cost system, and the statemen

Q: Differentiate between selling price,cost of sales and labour costs in informal and formal business.

A: Registered (or unregistered), organized (or unorganized), and supervised (or unregulated) companies…

Q: Do starting entrepreneurs need to have basic knowledge about cost volume profit analysis?

A: Cost volume profit analysis is also known as "Break-Even" analysis. This is an important aspect of…

Q: Which kind of decision can be taken by tourism firm using cost accounting methods?

A: Cost accounting (CA) is the branch of accounting which deals with the cost and data of the…

Q: Which of the following entities can use cost-volume-profit (CVP) analysis?   Multiple Choice…

A: CVP analysis is considered as a decision-making tool that helps management to make strategies and…