Answer:
Classifications :
- Direct Costs
- Indirect Costs
- Product Costs
- Period Costs
- Variable Costs
- Fixed Costs
Reasons for classifying costs :
- Inventory valuation
- Profit Measurement
Explanation:
The first step in Cost Classification if to Identify the Cost object.The Cost object is the unit or entity for which determination of cost is required.
By observing the cost accumulating on the cost object we would identify two types of costs :
- Direct Cost - Costs that can be traced on the cost object
- Indirect Cost - Costs that can not be directly traced on the cost object
Another category used to classify costs is whether or not they will be included in product valuation.
- Product Cost - Attached to Product and included in valuation
- Period Cost - Not attached to product and thus not included in product valuation
Lastly the Costs Behaviors bring about different classifications as follows :
- Variable Costs
- Fixed Costs
- Semi-fixed Costs
- Semi - Variable Costs
A) Accepted everywhere
Explanation
A is the correct answer because paper money and change being accepted everywhere makes it a lot easier to use than other forms of payment which may not be accepted.
B cannot be the answer because a paper trail not being automatically created is not a good thing. If someone wished to track their purchases, it would be much harder to do so.
C cannot be the answer because it is very inconvenient to use physical money for large purchases because it often requires some sort of container for transportation and can be easily stolen or taken if the amount of money is revealed.
D cannot be the answer because an item being easy to lose cannot be a good thing unless one wishes to lose that item. Typically, one does not wish to lose money, so this answer would not work.
Answer:
20%
Explanation:
300÷360×100 =20%. hence 300×100=30000÷100=20%
A security suite for the software program
To solve:
Direct marterial cost = $12,000
Direct labor cost = $11,000
Manufacturing overhead = 85% of direct labor cost = $9,350
Add up all of the costs for the total cost of Job No. 110.
$12,000 + $11,000 + $9,350 = $32,350.
