Overheads Study guides, Study notes & Summaries

The sum of the practices and processes that an enterprise uses to manage the total life cycle cost investment in its portfolio of strategic assets is called _________ - Answer- Total Cost Management ______ is the application of scientific principles and techniques to problems of : - estimation - cost control - business planning & management science - profitability analysis - project management - planning & scheduling - Answer- Cost Engineering _______ Is the value of an activit...

Question 1 Not yet answered Marked out of 1.00 Flag question Question text Dividing the current liabilities of the company by the current assets gives current ratio. True False Question 2 Not yet answered Marked out of 1.00 Flag question Question text When direct materials are issued to the production process, the cost of the materials flows from the materials inventory control account to the production overheads clearance account. True False Question 3 Not yet answered Marked out of...

The sum of the practices and processes that an enterprise uses to manage the total life cycle cost investment in its portfolio of strategic assets is called _________ correct answers Total Cost Management ______ is the application of scientific principles and techniques to problems of : - estimation - cost control - business planning & management science - profitability analysis - project management - planning & scheduling correct answers Cost Engineering _______ Is the value o...

aqa A-level ACCOUNTING Paper 2 - Accounting for analysis and decision-making (7127/2) June 2023 Question Paper. 1. Which is the source document for a payment by direct debit?. 2. Which is the formula for markup?. 3. Which is a benefit of marginal costing? 4. A business has the following budgeted information: Direct labour 2 240 hours £15 680 Product M uses direct material at a cost of £11.72 per unit and 30 minutes of labour. Overheads are absorbed on a direct labour hours basis at a cost of ...

Define Absorption Costing correct answer: Fixed production overheads included OAR calculation correct answer: Estimated overheads divided by estimated activity level Absorption Costing two advantages correct answer: Selling price made to cover all costs. Complies with IAS 2 Absorption costing two disadvantages correct answer: Profits manipulated by changing production levels. Assumes overheads are volume related. Contribution Calculation correct answer: Fixed costs plus profit...

Right to Work Principle: correct answers affirms the right of every american to work for a living without being compelled to belong to a union Planning correct answers Process of organizing the activities that must take place to get a project from start to finish. Scheduling correct answers Introduces real time into the plan. Why is scheduling important? correct answers The faster you finish a construction project, the more you save on fixed costs and variable costs, and the more money ...

CIPS L4M2 Defining Business Need questions correctly answered 2024 Fixed Cost (FC) - correct answer Costs that remain the same irrespective of business activity or volume Variable Cost (VC) - correct answer Costs that vary with the level of output Market Factors - correct answer Objectives Drivers Governance Ownership Commodity or Non-Commodity Break-Even Point (BEP) - correct answer When total costs are equivalent to sales revenue (after this, it is profit) Solving a Proble...

MHA 706 Final Exam Questions And Answers Direct Costs - ANS Costs unique and exclusive to a department. GENERATE REVENUE Ex- costs associated with providing the clinical testing such as staff and supplies. Indirect costs (overheads) - ANS Costs associated with shared resources used by the entire organization Ex-costs associated with central services such as human resources and finance Cost Allocation - ANS Assign all overhead costs to the departments that create the need fo...

CIPS L4M8 LO1 Name all stages of the Procurement Cycle? - correct answer 1) understand need and develop a high-level specification 2) market/commodity options including make vs buy assessment 3) develop strategy/plan 4) pre-procurement market tests and market engagement 5) development of required documentation, e.g request for quotation (RFQ) 6) supplier selection to participate in an invitation to tender (ITT) exercise 7) issue ITT/RFQ 8) bid/tender/quotation evaluation and validation ...

CIPS L4M2 Defining Business NeedFixed Cost (FC) - correct answer Costs that remain the same irrespective of business activity or volume Variable Cost (VC) - correct answer Costs that vary with the level of output Market Factors - correct answer Objectives Drivers Governance Ownership Commodity or Non-Commodity Break-Even Point (BEP) - correct answer When total costs are equivalent to sales revenue (after this, it is profit) Solving a Problem - correct answer SCAMPER Subs...