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2 years ago

To determine a product selling price based on the total cost method, management should include?

1 answer:

8 0

If one wants to determine the selling price of a product using the total cost method, the management should use Total product costs plus a markup.

<h3>What is the total cost method?</h3>

The actual cost of performance is generally subtracted from the bid price before profit is added to the resultant sum in the total cost approach.

A production income statement is what the total cost method is. In other words, the units of measurement generated are utilized to accrue income and expenses. The units of measure produced during the reviewed period are used to calculate income and expenses.

When employing the whole cost method, the business accounts for all expenses associated with manufacturing the questioned well. The price of the entire product is included.

The final step is to add a markup to the overall cost in order to determine a selling price that will allow for the anticipated level of profit.

To learn more about the total cost method refer to:

brainly.com/question/6480601.

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In the ________ component of SCM, supply chain managers must create a responsive and flexible network to support customers who h

Anastaziya [24]

Answer:

Return

Explanation:

Supply chain management (SCM) is the management of interconnected activities involved in movement and storage of raw material, work in progress and finished goods. The process is used to check if supply chain activites are working smoothly or not, also, is it cost effective or not?. SCM follow basic five component:

Plan
Develop
make
Deliver
Return.

Return is a stage where supply chain managers must create a responsive and flexible network to support customers who have problems with delivered products.

8 0

3 years ago

Which of the following statements is true?-direct costs can easily be traced to a cost object; indirect costs cannot be-both dir

Andru [333]

Answer: Statement A

Explanation: Direct cost are those costs which are variable in nature and can be allocated to the total units of output produced, these are easily traceable. Examples - direct material, direct labor and piece rate wages etc.

Indirect costs are those cost which cannot be allocated to the number of units produced on individual basis unlike direct cost these costs can be either fixed or variable in nature. Examples - rent expenses, administrative expenses.

From the above explanation we can conclude that statement A is correct.

5 0

3 years ago

Bank A quotes a bid rate of $.300 and an ask rate of $.305 for the Malaysian ringgit (MYR). Bank B quotes a bid rate of $.306 an

Elenna [48]

Answer:

The profit for an investor who has $500,000 available to conduct locational arbitrage is $1,639.

Explanation:

Bank A has a ask rate of $0.305, so the investor can exchange his $500,000 at Bank A and get = $500,000/$.305 = MYR = 1,639,344

Bank B has a bid rate of $0.306, he can invest 1,639,344= 1,639,344 × $.306 = $501,639.

501,639 - $500,000 = $1,639.

Thus, the profit is $1,639.

3 0

3 years ago

At the beginning of Year 1, Trey Inc., purchased a machine with a total acquisition cost of $33,000. The machine has an estimate

soldier1979 [14.2K]

Answer:

$8,000

Explanation:

Data provided in the question:

cost of machine = $33,000

Estimated residual value = $3,000

Estimated useful life = 3 years

Estimated useful life in terms of production = 60,000 units

Total units produced in year 1 = 16,000

Now,

Rate of annual depreciation with respect to units produced

= [ Cost - Salvage value ] ÷ Estimated useful life in terms of production

= [ $33,000 - $3,000 ] ÷ 60,000

= $0.5 per unit

Therefore,

Depreciation expense for the year 1

= Rate of annual depreciation × Total units produced in year 1

= $0.5 per unit × 16,000 units.

= $8,000

7 0

3 years ago

The type of research method used depends on the nature of the study in question.

Kaylis [27]

TRUE. The type of research method used depends on the nature of the study in question.

5 0

3 years ago