Explain equivalent units of production and its computation

Reference no: EM133465775

Problem: Managerial

I. Assume yourself to be a cost manager of ARAMCO and you are in the task of Cost Classifications. Explain how the following costs would help you as cost manager to make decision.

i. Product Vs Period Cost
ii. Prime Vs Conversion Cost
iii. Committed Vs Discretionary Cost

II. A fresh graduate employed as an accountant of a manufacturing company and is working on over applied and under applied overheads.
Explain how you would assist him/her in computing over applied and under applied overheads. Give numerical examples

III. Explain Equivalent Units of Production and its computation using weighted average method and FIFO method.

IV. ‘Cost Structure and Profit Stability' is one of the most import strategy of a corporations. Explain how managers, maintain cost structure for stability in profit during both good and bad years.

Reference no: EM133465775

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