Activity based costing have four steps, the steps are as follows:
1. Identification and classification of all the activities in the value chain in relation to the production of the product.
2. Estimation of total cost for each of the activities identified.
3. Computation of a cost driver rate for each activity based on a cost allocation base which has a causal link to the cost of the activity.
4. Application of the activity cost to product using the appropriate cost driver rate.
Answer: D) scatter diagram.
Explanation:
Scatter diagram is a graph with two variables values plotted along two axis in which the pattern reveals if there is any correlation through the resulting points/ dots. It is used to determine the relationship between two variables in which both are along the same curve.
Scatter diagram is used when:
• Numerical data are in pairs.
•To determine relationship between two variables.
•To determine the effect and cause of two variables when they appear similar.
•To determine the root cause of a potential problem.
Yes, stores should be forced to obey minimum prices for a good or a company that is selling a service should as well. They should have to obey by this so that price competition isn't ongoing in the market. Larger producers can often charge a smaller amount for a product because they are producing them in high qualities. By charging less it gives them a competitive advantage over their competition in means of price. Unless the item is on clearance because a company is discontinuing stock of that item, they should have a set minimum as they do a set maximum they are allowed to charge for that item.
Answer:
Provide protective mechanisms.
Explanation:
The five principles used to create a more ethical culture at work are:
- Be a role model and be visible.
- Communicate ethical expectations.
- Offer ethics training.
- Visibly reward ethical acts and punish unethical ones.
- Provide protective mechanisms: he company needs to provide some type of formal protective mechanism for employees who want to report unethical behavior and may fear getting in trouble for doing so. This way the employee can remain anonymous and will feel conformable with disclosing the information.
In phrases of cost and responsibility, the very best incoterm for the exporter that is, in turn, the maximum tough for the importer is Ex-works (EXW).
The definition of cost is the amount paid for something or the rate of doing something. An instance of a value is $three for a half gallon of milk.
Price is the cost of money that a business enterprise needed to spend to produce its items or services. it is calculated as the quantity that an employer spends with the intention to produce a sure unit of a product. In simple words – it is the cash that a business enterprise spends on matters including hard work, offerings, raw materials, and more. the fee is the expenditure required to create and sell products and services, or to gather belongings. whilst offered or eaten up, a price is charged to price.
Costing is critical to make sure that all charges are blanketed and the institution fixes a price that ensures a profit. the first and maximum important step is to perceive all the prices of a enterprise: manufacturing, income, administrative, overheads, and so forth.
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