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jenyasd209 [6]
2 years ago
7

Why are incidental costs sometimes ignored in inventory costing? Under what accounting constraint is this permitted?

Business
1 answer:
defon2 years ago
4 0

Incidental costs sometimes are ignored in inventory costing because  Incidental expenses are minor, non-budgeted expenses that are not directly related to primary service and do not arise during the normal course.  Incidental cost which include  the costs of transportation, meals, and lodging are common when an employee travels for business Inventory costs.

By calculating the most economic order quantity the firm attempts to determine the order size that will minimize the total inventory. Such practice of ignoring the incidental cost is permitted by materiality constraint because such cost will not affect the decisions of the business entity costs.

Materiality constraint means that transactions of little importance should not be recorded. A transaction may be recorded, but its importance and significance should be kept in mind. For example, a newly purchased pencil is an asset of the business. Whenever the pencil is used, a part of the asset is consumed.

TO learn more about  Incidental costs and Materiality constraint here

brainly.com/question/28178996

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Laura, a sales manager at Dexter Inc., claims that labor and management are rivals for most organizations. Brooke, the HR manage
Afina-wow [57]

Answer:

Dexter Inc.

The statement that best supports Brooke's perspective is:

Examples of cooperation between labor and management include employee involvement in decision making and self-managing teams.

Explanation:

When labor and management act as rivals or adversaries, it does not benefit their organizations.  They should find common grounds for cooperation.  Organizations should involve their employees in more decision-making.  Despite their incongruent goals, unions and management should find win-win solutions.  Paying employees a living wage does not impoverish the organization.  On the contrary, everybody is greatly enriched.

3 0
3 years ago
process to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reas
VashaNatasha [74]

The process to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives is called risk assessment.

An entity refers to someone or enterprise owning separate and wonderful prison rights, inclusive of an individual, partnership, or organization. An entity can, amongst different things, personal assets, engage in enterprise, enter into contracts, pay taxes, sue, and be sued.

The entity name is the call used by an enterprise to enter into contracts and make other criminal or administrative commitments. alternatively, the business name is the name your commercial enterprise operates under and shares with its clients, customers, and employees.

That which has a wonderful life as an individual unit. often used for businesses that have no physical shape. An existent something that has the houses of being actual, and having an actual lifestyle.

Learn more about entity here brainly.com/question/17290596

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7 0
1 year ago
Identify and describe the three steps that the team should follow in order to define project scope and create a project scope st
Fittoniya [83]

Answer:

3 steps are:

Planning

Controlling

Closing

Explanation:

Project scope is the term which is defined as the work that require to be achieved in order to deliver the product, result or service with the particular or specified functions as well as features.

The 3 steps which a team need to follow in defining the project scope and creating a statement of project scope is as:

1. Planning - It is that procedure where an effort is made in order to capture or apprehend and define the work which needs or required to be perform or done.

2. Controlling - The processes of monitoring and controlling focus on the scope creep, approving or disapproving the project changes, tracking and documenting tracking.

3. Closing -It is the final procedure of the project scope, it involves the audit of the assessment and the deliverables of the project against the original plan.

8 0
3 years ago
Longobardi Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginnin
Veronika [31]

Answer:

Overhead rate= 34.24

Explanation:

Giving the following information:

Labor-hours for the upcoming year at 38,600.

The estimated variable manufacturing overhead was $5.90.

The estimated total fixed manufacturing overhead was $1,093,924.

Overhead rate= Estimated indirect cost/allocation measure

Overhead rate=[(38600*5.90+1093924)]/38600= 34.24

8 0
3 years ago
Approximately 80% of the population on madagascar consists of subsistence farmers who use a slash and burn technique called ____
crimeas [40]

Approximately 80% of the population on Madagascar consists of subsistence farmers who use a slash and burn technique called Tavy to clear forests. This traditional Malagasy farming method Taly is used to clear forest for farming land. The method involves setting vegetation alight after being cut down, creating potential land for rice cultivations.

8 0
3 years ago
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