Below are listed various costs that may be found in a variety of organizations. 1. Small glass
Question:
Below are listed various costs that may be found in a variety of organizations.
1. Small glass plates used for lab tests in a hospital.
2. Straight-line depreciation of a building.
3. Senior management salaries.
4. Advertising of products and services.
5. Electrical costs of operating production equipment.
6. Batteries used in motorcycle manufacturing.
7. Commissions paid to sales staff.
8. Liability insurance paid by a dentist.
9. Subscription fee paid for use of cloud-based analytics software.
Cost Item Cost Behaviour Variable Fixed
Step by Step Answer:
Cost Item Small glass plates used for lab tests in a hospital 2 Straightline depreciation o...View the full answer
Managerial Accounting
ISBN: 9781260193275
12th Canadian Edition
Authors: Ray H. Garrison, Alan Webb, Theresa Libby
Related Video
In accounting terms, depreciation is defined as the reduction of the recorded cost of a fixed asset in a systematic manner until the value of the asset becomes zero or negligible. An example of fixed assets are buildings, furniture, office equipment, machinery, etc. The land is the only exception that cannot be depreciated as the value of land appreciates with time. Depreciation allows a portion of the cost of a fixed asset to be the revenue generated by the fixed asset. This is mandatory under the matching principle as revenues are recorded with their associated expenses in the accounting period when the asset is in use. This helps in getting a complete picture of the revenue
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