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m_a_m_a [10]
3 years ago
5

Write a memo to management detailing the various classification of costs and provide two reasons for which it is important to cl

assify cost.
Business
1 answer:
katrin2010 [14]3 years ago
7 0

Answer: Direct or indirect cost, Fixed or variable cost, classification by nature, classification by function, it is important for the development of cost data which can help the management in the cost planning and control objectives of the organization. It is important for ascertaining the purpose for which the cost being classified is to fulfilled in the organization.

Explanation:

Cost classification can be said to be a process of grouping costs according to the characteristics which can be attributable to the cost in the organization and which determined their uses in the organization. Classification of cost can be divided into four namely.

Direct Cost or indirect cost : The direct cost is the cost which can be directly identified with a process, production, job or other business activities. In direct cost there is nothing like sharing or apportioning cost between the products. Examples are Direct materials, Direct Labour, Direct Expenses. While indirect cost are the cost which cannot be directly traced to the items being costed by the organization. It is a cost which can be incurred jointly by two or more products. Examples are indirect materials, indirect labour, and indirect expenses.

Fixed or variable cost : Fixed cost is said to be a cost which tend not to change with the level of activities such as output or turnover. Examples are rent, rates, insurance, executives salaries. While variable cost are the cost which vary with changes in the level of output or sales. It is a cost which increase or decrease in proportion to the changes in the level of activity such as Labour and materials

Classification by nature : This relates to the nature of the cost such as the materials, labour and expenses. The materials can be broken down into raw materials, while labour can be broken down into supervision, cleaning, clerical or office work. While expenses can be broken down into rent, power, depreciation and so on.

Classification by function : This is the classification of cost according to the functions to which the cost relates. Examples are production cost, selling cost,distribution cost,and so on. However, these cost classification are important for the following two reasons

(i) It is important for the development of cost data which can help the management in the cost planning and control objectives of the organization.

(ii) It is important for the ascertaining the purpose for which the cost being classified is to fulfilled in the organization

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valentina_108 [34]

Answer:

The answer is: the real gain in real GDP between 2010 and 2000 is 18.34%

Explanation:

First we have to determine the real GDP using the GDP deflator.

GDP deflator = (nominal GDP / real GDP) x 100

For year 2000:

24 = ($672 billion / real GDP ) x 100

2,400 = $672 billion / real GDP

real GDP = $0.28 billion

For year 2010:

51 = ($1,690 billion / real GDP ) x 100

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real GDP = $0.331 billion

To calculate the real gain between real GDP from year 2000 to year 2010, we divide real GDP 2010 over real GDP 2000 and subtract 1:

($0.331 billion / $0.28 billion) -1 = 0.1834 x 100% = 18.34%

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3 years ago
Marketing is a subset of advertising.<br><br> True<br> False
andreev551 [17]

Answer:

False

Explanation:

Marketing is not a subset of advertising. In fact it is the opposite, advertising is the subset of marketing.

Advertising is mostly focused on acquiring customers and promoting sales. Generally, advertising is based on formulating campaigns to promote the products and increasing sales. These promotions are carefully planned out and well designed so they reach a target audience with the help of media such as radio, newspaper, television and magazines etc.

4 0
3 years ago
Question 5 of 10
worty [1.4K]
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You just hung up the phone after a 3-hour conference call with your colleagues in India. After the call, one of your co-workers
Llana [10]

Answer: Examine your expectations for conducting the meeting and determine how they might be different than your Indian colleagues.

Explanation:

Cross-cultural communication looks at how people from different cultural backgrounds communicate among themselves. The aim of cross-cultural communication is to bring together people with cultural differencces in such a way that the cultural differences shouldn't be a barrier.

Cross-cultural communication is understanding ways by which culturally distinct individuals relate and communicate with each other.

Regarding the question, the best way to improve one's cross cultural communication will be to examine the expectations one has for conducting the meeting and then determine how the expectations might be different from my Indian colleagues.

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The concept of creating safer and more efficient equipment is called __________.
kvasek [131]

Answer:

The correct answer is Ergonomics.

Explanation:

When a company talks about providing efficient and safe equipment for its employees, they refer to the discipline of ergonomics.

Ergonomics is the one in charge of investigating and collecting data and with the knowledge of different related subjects such as psychology or physiology to find the right designs for people so that they are safe and comfortable, which allows them a better development in the Work and allow them to be efficient.

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<em>I hope this information can help you.</em>

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