FREE Trial

What is the meaning of the term incremental cost? Does incremental cost mean the same thing as variable cost?

Question:

What is the meaning of the term incremental cost? Does incremental cost mean the same thing as variable cost?

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 100% (1 review)

Incremental Cost Incremental cost also known as differential cost refers to the change in total cost that occurs as a result of producing one addition…View the full answer


answer-question
Answered By
tutor-profile-image
Krishnavendra Y
I am a self motivated financial professional knowledgeable in; preparation of financial reports, reconciling and managing accounts, maintaining cash flows, budgets, among other financial reports. I possess strong analytical skills with high attention to detail and accuracy. I am able to act quickly and effectively when dealing with challenging situations. I have the ability to form positive relationships with colleagues and I believe that team work is great key to performance. I always deliver quality, detailed, original (0% plagiarism), well-researched and critically analyzed papers.
5.00+ 4+ Reviews 10+ Question Solved
Related Book For  answer-question
Cost Accounting

Cost Accounting

ISBN: 9780070221628

4th Edition

Authors: Jawahar Lal, Seema Srivastava

See More Books
Question Details
Chapter # 2- COST CONCEPTS AND CLASSIFICATIONS
Section: Theory Questions
Problem: 3
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: August 30, 2023 14:06:46
See More Questions

Students also viewed these Business questions

Q:
What is the meaning of the term rights? Does it make sense to apply this term to animals? Why or why not?
A:
Rights are usually thought of as legitimate claims......
Q:
The earth's climate is getting warmer. The most common theory attributes the increase to an increase in atmospheric levels of carbon dioxide (CO2), a greenhouse gas. Here is a scatterplot showing the...
A:
a The correlation between CO 2 level and mean temperature is r R 2 0 736 0 858 b 85 8 of the variabi......
Q:
What is the meaning of the term available as used in governmental fund revenue recognition?
A:
The term available means the revenue item is both 1......
Q:
Describe three ways in which a gradual increase in an extracellular signal can be sharpened by the target cell to produce an abrupt or nearly all-or none response.
A:
If more than one effector molecule is required to activate a given target molecule At low concentrat......
Q:
Provide an example of an executional cost driver.
A:
Executional or operational cost drivers are those determinants of a firm s cost position that hinge......
Q:
A pendulum clock has a period of 0.650 s on Earth. It is taken to another planet and found to have a period of 0.862 s. The change in the pendulum's length is negligible. (a) Is the gravitational...
A:
a Since the period of a pendulum is inversely proportional to gravitat......
Q:
The airlines change prices from day to day. For example, the fare on one Delta flight from New York to Los Angeles jumped from $755 to $1,143 from a Friday to Saturday in April, then fell to $718 on...
A:
Being equally happy to travel on any of the three days means that Jodis marginal bene......
Q:
Discuss what types of HR changes could have affected reductions in workers compensation expenses, employee turnover, and increases in customer satisfaction.
A:
The types of HR changes that could have affected reductio......
Q:
Look at the profit values for the two companies you are familiar with. Does it make sense to compare these values? If not, why, and what alternative could you pursue instead?
A:
Comparing profit values between two companies may make sense if they operate in the same industry have similar business models and are of comparable s......
Q:
From the following particulars, prepare a cost sheet for the year ended 31.12.2002 Stock of finished goods (1.1.2002) Stock of raw materials (1.1.2002) Work-in-progress (1.1.2002) Purchase of raw...
A:
Category Amount Rs Direct Materials Opening Stock of Raw Materials 1 1 2002 40 000 Purchas......
Q:
The following data have been extracted from the books of M/s Moonshine Industries for the calendar year 2002. The Managing Directors remuneration is to be allocated as Rs. 40,00,000 to the factory,...
A:
a Prime Cost Prime Cost Opening stock of raw materials Purchase of raw materials Carriage inward Dir......
Q:
Jillian Michaels and Dee Childress worked for several years as sales representatives for Xerox Corporation. During this time, they became close friends as they acquired expertise with the companys...
A:
Loan Request To Synergy Bank From Jillian Michaels and Dee Childress We are requesting a loan of 130......
Q:
Determine a three-phase 480V/208Y120V transformer kilovolt-ampere rating if the daily variations in the secondary load current are 150 A for 5 h, 170 A for 1 h, and 130 A for 18 h, taking into...
A:
To determine the appropriate kilovolt ampere kVA rating for the three phase 480V 208Y120V transforme......
Q:
A 1-kV, 750-kcmil copper cable in a metallic tray has dc resistance of 0.016 per 1000 ft. at 25C. Using the tables provided in this chapter, determine its 60-Hz resistance at operating temperature...
A:
1 Determine the DC resistance at operating temperature Rdc T The DC resistance of a conductor increa......
Q:
The three-phase transformer costs less than three single-phase transformers in a three-phase system. Even then, three single-phase transformers are used in connected to form the three-phase bank in...
A:
Using three single phase transformers in a delta delta connection to form a three phase bank despite......
Q:
A 125-hp, three-phase, 60-Hz, 460-V, four-pole, 1720-rpm, letter code M, squirrel cage induction motor with a -connected stator has efficiency 92% and power factor 0.90 lagging when operating at...
A:
To determine the input kilowatt kW kilovolt ampere kVA and line current during normal operation we c......
Q:
A student says that the easiest way to convert a neutral sodium atom to a Na + cation is to add a proton to its nucleus. She reasons that this is so because protons have a 1+ charge. What is wrong...
A:
The student s argument is wrong because adding a proton to the nucleus of a sodium atom would not ch......
Q:
Assume that on July 1, 2010, Big Corp. loaned Little Corp. $12,000 for a period of one year at 6 percent interest. What amount of interest revenue will Big report for 2010? What amount of cash will...
A:
Big Corp would report interest revenue of......
Q:
Pearson Education, a publisher of college textbooks, would like to know if students prefer traditional textbooks or digital textbooks. A random sample of students was asked their preference and the...
A:
Set p equal to the proportion in the population who prefer traditional textb......
Q:
I am going to focus on the customers of my business and leave cost-allocation issues to my accountant. Do you agree with this comment by a division president? Why?
A:
Disagree Cost accounting data plays a key role in many management planning......
Q:
I am going to focus on the customers of my business and leave cost-allocation issues to my accountant. Do you agree with this comment by a division president? Why?
A:
Disagree Cost accounting data plays a key role in many management planning......
Q:
I am going to focus on the customers of my business and leave cost-allocation issues to my accountant. Do you agree with this comment by a division president? Why?
A:
Disagree Cost accounting data plays a key role in many management planning......
The Singapore Economy An Econometric Perspective 1st Edition - ISBN: 0415480310 - Free Book