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Flashcards Becker U2 P1
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U2 D.1. Measurement Concepts: Part 1, and D.3. Overhead Costs: Part 1 Question Define relevant range. Answer The relevant range is the range of volume for which the assumptions of the cost driver (i. e., linear relationship with the costs incurred) are valid and in which the actual value of the cost driver exists. U2 D.1. Measurement Concepts: Part 1, and D.3. Overhead Costs: Part 1 Question Explain the difference between the contribution approach and the absorption approach. Answer The difference is the treatment of fixed overhead. Under the absorption approach, fixed overhead is a product cost. Under the contribution approach, fixed overhead is a period cost.
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- Uploaded on
- December 12, 2023
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- 18
- Written in
- 2023/2024
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define relevant range
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what is the formula for cost of goods manufactured
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with joint products what is the treatment of cost
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