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Explain the terms - Cost object and Activities
Cost object: it is an item for which cost measurement is required for example a product or a customer.
Activities: these consist of the aggregate of different tasks and are concerned with function associated with cost objects.
There are two type of activities
Support activities
Production process activities
State Direct material cost standard The determination of direct material cost standard would involve: a) Determination of quantity standards and b) Determination of pric
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Explain Support activitiesand production process activity Support activities are for example schedule production set up machine purchase materials inspect item customer orde
Scenario - Ahi Corporation is one of your clients in Hawaii. The company had a good year last year and owes the IRS $100,000,000, due on March 15. There are no penalties or interes
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