Question: Question 4 A. Based on your accounting knowledge, differentiate the term cost accounting from financial accounting. (3 Marks) B. Distinguish between, and provide an

Question 4 A. Based on your accounting knowledge, differentiate the term cost

Question 4 A. Based on your accounting knowledge, differentiate the term cost accounting from financial accounting. (3 Marks) B. Distinguish between, and provide an illustration of: i. Job costing and process costing. ii. Avoidable and unavoidable costs iii. Cost Centre and unit cost iv. Production cost Centre and service cost Centre (4 marks each) (16 marks) C. Describe the three purposes for which cost information is required (6 marks) (Total 25 Marks)

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!

Thembi is a trader. She maintains a full set of accounting records and posts the totals of the sales, purchases and returns journals to the ledger each month. On 1 March 201 the balances in her...

17. At year-end 20X8, Ancho Canned Chile has 8,000 units on hand at a weighted- average cost of $13 per item. Sales for the year were at $16 per item. Resellers cost Ancho an average $4 per unit. a....

Been studying some finance questions and not sure how to work on this one in particular. You are considering opening a new plant. The plant will cost $104.9 million upfront and will take one year to...

please answer all the questions,.,.,.within 30 minutes. make sure the explanation and reasons are explained in very detailed manner , Attempt the answer only if your are 100% sure that its correct....

QUESTION 2 (30 MARKS: 72 MINUTES) Elvis Dresley is the owner of Eldress Boutique that specializes in producing batik shirts, blouses, and other batik theme garments as requested by the customers. The...

Answer the questions that follow Additional information: 1. 2. 3. Inventory on 31 December, 2017 Shs 35.670,000. Loan interest was paid for the first six months. The remainder is outstanding....

Where to get answers: Question 1 Net product sales reported on Amazon's income statement includes both cash sales and credit sales a. True b. False Question 2 At the most recent balance sheet date,...

Company description CK investments (Pty) is a local hand sanitizing production company. The company was incorporated in 2010. The company was started by Charles Mujende who is the 100% shareholder....

QUESTION 4 14(20 Marke 4. There are two distinct types of cost accounting systems. job order conting system and process conting system. How does management decide whether to use a job order costing...

Please answer PART C FINAL AUDIT - Question 6 Audit Report, thanks. Bb Sheet2 X + X C...

Consider the role of culture when motivating employees. Describe some differences that can gain employee trust in at least three countries. Each country should be located on a different continent.

Sonya works as a sales representative for a computer manufacturer. Using the information below as a guide, prepare a spreadsheet calculating the amount she must report as income, her deduction for...

Question 2 7 2 pts Which method of financial analysis does not take into account the effect of time on money? Development of a relative value unit Calculation of intermal rate ed restion Calculation...

1. Evaluate the following limits tan x sin x sin(x 2) () lim x+0 x(-1+ cos3 2x) (b) lim X-2 Vx +3 - V2x +1

The Director of Bounce Fitness has recently updated their business plan to include Sustainability. You are the Manager at the Bounce Fitness Melbourne Centre and have been assigned the task by head...

Convert the following design from sequence diagram to class diagram. interaction Book Movie Ticket Select.M.Th.D-T Booking Login Select.Seats Payment Ticket.Ret Clerk.Kiosk user 1: browse movies 2:...

The beams AB and BC are supported by the cable that has a parabolic shape. Determine the tension in the cable at points D, F, and E, and the maximum load w kN, if the allowable force in each of the...

Determine the absolute maximum shear and bending moment developed in the beam AB due to the loading shown. Determine the deflection at the mid-point of the beam due to the loading that causes the...

Tori and some other childeen experimented with balls to see which ones rolled. First using a piece of cardboard to use as a ramp, they angled it on a block to the floor to test the balls. Then Tori...

Explain why communication is important in organizations, and discuss four influences on effective communication encoding and decoding. AppendixLO1

More than 3 million dogs enter animal shelters each year in the United States, and almost one-third of these have been surrendered by their owners. Until recently, animal shelter employees assumed...

Compare and contrast the advantages and disadvantages of digital written communication channels, other verbal communication channels, and nonverbal communication. AppendixLO1