If you were running a marathon which type of muscle fibers.

cost accounting systems are used to: a. accumulate production and period costs and assign them to products or services. b. accum

harina [27]

Cost accounting systems are used to Accumulate period cost and assign them to products or services.

Cost accounting systems are useful in both manufacturing and service industries. This system is used to determine product costs, or the total cost of a product, which includes overhead, materials, and labour. According to a number of variables, including worker hours, machine hours, and other considerations, period costs are given to items.

Cost accounting, according to the Terminology of Cost Accounting, is the process of accounting for costs from the point at which expenditure is spent or committed through the development of its final relationship with cost centres and cost units (England).

<u>The purpose and role of cost accounting</u>

These are the primary goals or duties of cost accounting:

Determination of costs

Estimated costs

A breakdown of costs

Cost reduction and cost control

Decision-making, control, and preparation

Pricing fixation for sales

Calculating the projected profit or loss for each activity.

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5 0

1 year ago

At the end of January of the current year, the records of NewRidge Company showed the following for a particular item that sold

const2013 [10]

FIFO will result in higher pretax income and EPS.

FIFO ("first in, first out") is based on these production costs, assuming that the oldest products in a company's inventory are sold first. The LIFO (last in, first out) method assumes that the newest product in the company's inventory was sold first, and uses that cost instead.

FIFO (First In, First Out) Inventory Management evaluates inventory to reduce the likelihood of business losses when products are phased out or discontinued. LIFO (last in, first out) inventory management is suitable for non-perishable goods and uses the current price to calculate the cost of goods sold.

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5 0

1 year ago

An increasingly important advantage of the limited liability company is that its members?

victus00 [196]

An increasingly important advantage of the limited liability company is that its members are "able to deduct its operating losses against the member's regular revenue to the extent permitted by law".

<h3>What do you mean by limited liability company?</h3>

A Limited Liability Company (LLC) is refers to as a type of organization in which the members of that company is not liable for the losses occur in the business. The duties and responsibilities regarding losses are restricted here.

Adding to it, that means if the company fails to pay off its losses or debts to creditors, the personal assets of the members will not be added while paying the debt.

It is an enterprise structure that is the combination of the pass-thru taxation that is related to a partnership or sole proprietorship along with the rules of the company.

The main advantage of this type of company is that the members of that LLC can reduce their all operating losses like travelling, insurance, office supplies, payroll etc.

Moreover, the other benefits of Limited liability company include that this is more flexible than the other corporations and it provides different rights, classes and preferences to their members or managers.

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8 0

1 year ago

The Short-Line Railroad is considering a $100,000 investment in either of two companies. The cash flows are as follows: Year Ele

Alex Ar [27]

Answer:

a. 3 years and 3 years

b. either company can be selected

Explanation:

a. In the payback, we analyze how many years the invested amount is recovered. The computation is shown below:

= Initial investment ÷ Net cash flow

For Electric Co.

In year 0 = $100,000

In year 1 = $70,000

In year 2 = $15,000

In year 3 = $15,000

In year 4 to 10 = $10,000

If we sum the first 3 year cash inflows than it would be $100,000 which is equal to the initial investment

So, the payback period equal to

= $100,000 ÷ $100,000 = 3 years

In 3 years, the invested amount is recovered.

For Water Works

In year 0 = $100,000

In year 1 = $15,000

In year 2 = $15,000

In year 3 = $70,000

In year 4 to 10 = $10,000

If we sum the first 3 year cash inflows than it would be $100,000 which is equal to the initial investment

So, the payback period equal to

= $100,000 ÷ $100,000 = 3 years

In 3 years, the invested amount is recovered.

b. Since both the companies has same payback period so either company can be selected

8 0

3 years ago

The fixed cost of a production system is $20,000, and the variable cost per unit product is $17. The product has a revenue of $2

dimaraw [331]

Answer:

Results are below.

Explanation:

Giving the following information:

Fixed costs= $20,000

Unitary variable cost= $17

Selling price= $28 per unit.

<u>To calculate the break-even point in units, we need to use the following formula:</u>

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 20,000 / (28 - 17)

Break-even point in units= 1,818 units

<u>Now, the profit for 1,500 units:</u>

Loss= 1,500*11 - 20,000= -$3,500

8 0

3 years ago