Avoidable cost Study guides, Class notes & Summaries

INTRODUCTORY MEDICAL SURGICAL NURSING 12TH EDITION TIMBY SMITH TEST BANK [Author name] [COMPANY NAME] [Company address] INTRODUCTORY MEDICAL SURGICAL NURSING 12TH EDITION TIMBY SMITH TEST BANK 1. CHAPTER 1 Managed care organizations are insurers that carefully plan and closely supervise the distribution of healthcare services. What is one of the goals of managed care? A) Preventing illness through screening and promotion of health activities B) Improving training of healthcare professionals C) E...

INTRODUCTORY MEDICAL SURGICAL NURSING 12TH EDITION TIMBY SMITH TEST BANK [Author name] [COMPANY NAME] [Company address] INTRODUCTORY MEDICAL SURGICAL NURSING 12TH EDITION TIMBY SMITH TEST BANK 1. CHAPTER 1 Managed care organizations are insurers that carefully plan and closely supervise the distribution of healthcare services. What is one of the goals of managed care? A) Preventing illness through screening and promotion of health activities B) Improving training of healthcare professionals C) E...

16. Costs which can be eliminated in whole or in part if a particular business segment is discontinued are called: A) sunk costs. B) opportunity costs. C) avoidable costs. D) irrelevant costs. 17. Consider the following statements: I. Assemble all costs associated with each alternative being considered. II. Eliminate those costs that are sunk. III. Eliminate those costs that differ between alternatives. Which of the above statements does not represent a step in identifying the relevant...

What are the 3+1 stages of absorption costing? 1. Allocation 2. Apportionment 3. Absorption = Production Cost 4. Under/over = Non prod OH Why would you use Absorption Costing? Valuing Inventory Pricing Decisions Establishing profitability What are pros and cons of absorption and marginal costing? Absorption -Avoids varying profits if sales are seasonal -Consistent with accounting standards -Recognises Long Run variable costs -Implies OH related to production = Manipulate profit ...

BUSI 323 - Week 8: Exam 4. Questions and Answers. Liberty University. Question 1 3 out of 3 points Successful use of which of the following requires a sound system of standard setting, or budgeting, and a related system of cost accounting? Selected Answer: B. Cost variance analysis Response Feedback: A-head: Real-World Scenario Complexity: Moderate Subject: Chapter 17  Question 2 3 out of 3 points SKF Primary Care Clinic is deciding whether to purchase MRI equipment that would e...

These characteristics: They are acquired for use in operations and not for resale. They are long-term in nature and usually depreciated They possess physical substance. Describe what? - ANSWER-property, plant, and equipment Only asset that is NOT depreciated - ANSWER-land PP&E - ANSWER-property, plant, and equipment historical cost - ANSWER-the cash or cash equivalent price of obtaining the asset and bringing it to the location and condition necessary for its intended use compani...

Stipulated Sum correct answers The General contract of the A101 requires that the sum of the project be submitted as a whole dollar amount in the contract. "Lump sum" - same meaning Substantial Performance correct answers The owner "in essence" got what they bargained for owner is able to occupy the building for its intended use Strict Compliance correct answers Literal compliance with the contract language means, methods, and requirements specified in the contract agreement...

Cost relevant to a make versus buy decision include variable manufacturing costs as well as - Avoidable fixed costs employee morale and social responsibility represent two examples of - qualitative decision factors Determination of the optimum short-term product mix needs to include an analysis of: - production constraints In deciding whether to drop or keep a product line, all of the following are relevant to the decision EXCEPT - The level of unavoidable fixed costs Lyman Company has th...

Focuses on the effect of alternative courses of action on the relevant revenues and costs Correct Answer Incremental Analysis Amount of increase or decrease in revenue expected from a course of action as compared with an alternative Correct Answer Relevant Revenue Amount of increase or decrease in cost that is expected from a course of action as compared with an alternative Correct Answer Relevant Cost Cost that have been incurred in the past and are not relevant to a decision Correct A...

WGU C253 Managerial Accounting, Exam Review Questions. Latest update, VERIFIED. Pre-determined overhead rate formula - -projected overhead costs / expected activity base applied overhead formula - -pre-determined overhead rate x actual units of allocation based (such as direct labor hours) Under/over applied overhead rate = - -actual MOH - applied MOH Job cost = - -Direct materials + direct labor + applied MOH + (beg wip - ending wip) Cost of good sold = - -cost of goods manufactured ...