When using process costing, labor and overhead can be added in any department. Any system for allocating costs to a component of a firm is referred to as costing.
Costing is often used to establish expenses for customers, distribution channels, personnel, geographical regions, product lines, processes, subsidiaries, and entire businesses. As defined by cost accounting, "a structured approach to recording and reporting measurements of the costing associated with providing services and producing things, both overall and in detail. It includes techniques for identifying, categorizing, allotting, aggregating, and reporting such costs as well as contrasting them with average costs."
One of the executive divisions of the federal government of the United States is the Department of Labor. Labor is in charge of enforcing federal laws that deal with things like wage and hour requirements, unemployment compensation, services, and even economic statistics.
learn more about Labor here
brainly.com/question/14348614
#SPJ4
The answer would be True.
Answer:
Both supply and demand are elastic.
Explanation:
Demand or supply elasticity is defined as elasticity or responsiveness with more than one numerical value, which indicates their high response to the change in price.
Elastic demand: It is the percentage change in quantity demanded due to the change in price in absolute value of the product.
The elasticity of supply: It is defined as the response of the quantity of a good supplied to a change in the price of the good. Likely to be positive in output.
FORMULA; Elasticity of supply= 
Due to the decrease in the supply of goods in the market, it leads to the scarcity of goods, therefore there is an increase in the price of goods.
Effect of Contribution Margin on the other costs is given below
Explanation:
1.Contribution margin per unit is the net amount that each additional unit sold contributes towards a company's fixed costs and profit. It equals the difference between the product's sales price and variable cost per unit.It represents the incremental money generated for each product/unit sold after deducting the variable portion of the firm's costs.Also known as dollar contribution per unit, the measure indicates how a particular product contributes to the overall profit of the company. It provides one way to show the profit potential of a particular product offered by a company and shows the portion of sales that helps to cover the company's fixed costs. Any remaining revenue left after covering fixed costs is the profit generated.
2.The Formula for Contribution Margin Is
The contribution margin is computed as the difference between the sale price of a product and the variable costs associated with its production and sales process.
Contribution Margin=Sales Revenue - Variable Costs
3.The contribution margin is the foundation for break-even analysis used in the overall cost and sales price planning for products. The contribution margin helps to separate out the fixed cost and profit components coming from product sales and can be used to determine the selling price range of a product, the profit levels that can be expected from the sales, and structure sales commissions paid to sales team members, distributors or commission agents.
4,The contribution margin represents the portion of a product's sales revenue that isn't used up by variable costs, and so contributes to covering the company's fixed costs.
The concept of contribution margin is one of the fundamental keys in break-even analysis.
Low contribution margins are present in labor-intensive companies with few fixed expenses, while capital-intensive, industrial companies have higher fixed costs and thus, higher contribution margins
Answer:
lower
Explanation:
As people would make a smaller profit but more if it accumulating it to get bigger than expensive with less sales.
