Question: why is it necessary to specify a cost object before being able to distinguish between a direct cost and an indirect cost

why is it necessary to specify a cost object before being able to distinguish between a direct cost and an indirect cost

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Why is it necessary to specify a cost object before being able to distinguish between a direct cost and an indirect cost?

Q:

2 Kahn & Associates is a low firm sp i n d l ated work employs 25 professionals partners and 18 associates) who work direct with clients Them e budete total compensation per professional or 2017 is...

Q:

1 Texas Memorial Hospital is a world renowed hospital for geriatric care services, covering over 20 speciales and employing over 1000 physicians and 5,000 staff, Required: For each of the following...

Q:

Which of the following statements are true? A factory supervisor's salary would be classified as an indirect cost with respect to a unit of product. A direct cost is a cost that can be easily traced...

Q:

1 Which of the following statements are true? A factory supervisor's salary would be classified as an indirect cost with respect to a unit of product. A direct cost is a cost that can be easily...

Q:

Which of the following statements are true? A direct cost is a cost that can be easily traced to the particular cost object under combleration. 3 . A cost can be direct or indirect. The...

Q:

Hungryman Ltd. (HGL) is a manufacturer that has three frozen product lines; quiches, pies and sausage rolls sold to supermarkets, cafes, and online customers. The production manager oversees all...

Q:

summarize and raise outstanding issues about managerial accounting in the article Accounting Information for Product Costing - Case Study Suzana Keglevi Kozjak, Tanja estanj-Peri Faculty of...

Q:

Need help with some accounting, document attached. 1. Activity-based costing requires four steps. Requirement R1. Rank the following steps in the order in which they would be completed. Number the...

Q:

Need help with some accounting, document attached. 1. Activity-based costing requires four steps. Requirement R1. Rank the following steps in the order in which they would be completed. Number the...

Q:

you believe that the cashier of your restaurant has stolen 10 000$ over the past year. The witness is a waitress who has a criminal record for soft drug possession. The police are not collecting...

Q:

Dita Company uses a process costing system. The following information relates to one month's activity in the company's Curing Department: Beginning work in process inventory Units started Units...

Q:

6. LO.3 Albro, a C corporation, makes profitable sales in about a dozen U.S. states. It owns a headquarters building in one of those states and a fulfillment center in a different state. How does...

Q:

A hula hoop and solid disc of equal radii are rolled, from rest and without slipping, down an incline plane. Which one will reach the bottom of the inclined plane first? Explain.

Q:

The specification for the length of a shaft is 12 inches ; .001 inch. If the process standard deviation is .00033, approximately what percentage of the shafts will be within tolerance? LO.1

Q:

In problem 16.1, if the tolerance changes to .0007 inch, approximately what percentage of the shafts will be within tolerance? LO.1

Q:

The specification for the thickness of a piece of steel is .5 inch ; .05. The standard deviation of the band saw is .015. Using Cp, calculate whether the process is capable or not. LO.1