<u>Activities</u>
- Pay Vendors
- Evaluate Vendors
- Inspect raw materials
- Plan for purchases of raw materials
<u>Cost Drivers:</u>
a) Number of different kinds of raw materials
b) Number of classes offered
c) Number of tables
d) Number of employees
What is Cost Drivers ?
A cost driver causes a change in an activity's cost. The idea is most frequently applied to allocate overhead expenses to the quantity of produced units. In order to reduce the cost of overhead, it can also be utilized in activity-based costing analysis to identify the causes of overhead. An activity-based costing system may employ a variety of cost drivers. Just one cost driver should be employed if a company just cares about adhering to the minimum accounting standards to allocate overhead to produced items. Cost drivers include things like the amount of customer interactions, engineering change orders, machine hours consumed, and product returns, as well as the number of direct labor hours performed.
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The important areas that appear on a CVP graph includes break-even point, loss area, and profit area
<h3>What is
CVP graph?</h3>
A Cost volume profit (CVP) graph is a graph that shows the relationship between the cost of production and the overall sales.
In conclusion, the important areas that appear on a cvp graph includes break-even point, loss area and profit area.
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Answer:
$64,000 and $358,000
Explanation:
The computation is shown below:
For land:
= Purchase price of land + Legal fees for contracts to purchase land + Demolition of old building on site - Sale of scrap from old building
= $60,000 + $2,000 + $5,000 - $3,000
= $64,000
For building:
= Construction cost of new building (fully completed) + Architects’ fees
= $350,000 + $8,000
=$358,000
The maximum commonplace supply of adjustments to a venture primarily based on the natural tendency of the client and assignment crew members to improve the mission’s output is called Scope creep.
The definition of a purchaser method is a client or someone who makes use of services. An example of a purchaser is a pupil being tutored at a university writing middle. (Ancient) someone depending on every other, for protection or patronage. A terminal or non-public laptop that is connected to a server.
A purchaser is someone who buys services or products from a corporation, even as a client refers to a sure type of client who purchases professional services from an enterprise. typically speak me, customers purchase products at the same time as customers purchase recommendations and solutions.
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Answer:
$1,700,000
Explanation:
The computation of the NET accounts receivable (the cash realizable value) at December 31, 2019 is shown below:
= Account receivable - allowance for doubtful debts
= $2,000,000 - $300,000
= $1,700,000
By deducting the allowance for doubtful debts from the account receivable we can get the net account receivable or the cash realizable value
Therefore we ignored the bad debt expense
