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Cost Classifications and Estimation
Cost classification may be defined like 'the arrangement of cost items in a logical sequence having concern to their nature and reason to be fulfilled'. The term cost should be qualified while in use in order to its precise meaning is established in a particular condition; conversely, cost refers to the amount of resources such have been diverted from other sacrificed or uses so like to achieve the needed objective. Although the term is utilized to refer to various aspects of cost, depending upon the base of argument such one is approaching the matter from. Various bases are utilized in classifying costs, hence giving us several types of costs.
1. Wrangle Corporation stock sells at a price of $80 a share and the riskless rate is 7%. Calculate the price of a 9-month call option on Wrangle stock with an exercise price of $7
Methods of Allocating Service Costs Direct Method The service costs are merely allocated to the production department according to the usage of the services given. St
Q. A firm uses capital and labor to produce a single output good. The production function is given by F(K, L) = K 2 L where K is the amount of capital and L is the amount of labo
Cowboy Constructions employs a full-time driver and incurs costs for a vehicle to deliver paperwork between each of their building sites. Select Couriers has offered to carry out t
1. A country has the per-worker production function y t = 6 k t 0.5 where y t is output per worker and k t is the capital-labor ratio. The depreciation rate is 0.1 and t
explain the various classes of costs
Reasons for Cost Allocation 1. To provide comparison along with externally provided services: It helps in assessing where to continue the contact or service outsiders. 2.
This is defined as an actual amount paid or incurred, as opposed to estimated cost or standard cost. In contracting, actual costs amount includes direct labor, direct material, and
Fosson Furniture uses a process cost system to account for its chair factory. Beginning inventory consisted of 5,000 units (100% complete as to material, 55% complete as to labor)
Andrew Industries is contemplating issuing a 30-year bond with a coupon rate of 7% (annual coupon payments) and a face value of $1000. Andrew believes it can get a rating of A from
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