What is the relevance of properly classifying costs

Assignment Help Other Subject
Reference no: EM132819377

Question: Bella, an accounting student, started her first day of apprenticeship. Bella will be working in the general accounting section but has been curious about management accounting so she asked Marcus, one of the cost accountant she met while in the lunch room, where in the organization are managerial accountants located. Marcus replied, "we are partner with all of the other functions in the business here." Bella was confused about Marcus' reply so she is asking you to explain to her what Marcus meant by it? Let Bella know what is the implication of that response?

What is the relevance of properly classifying costs, and how does the misclassification of raw materials, direct labor, and factory overhead affect responsibility accounting? Provide an example to support your answer.

Reference no: EM132819377

Questions Cloud

Prepare the raw material usage and purchase budget : Raising Star Berhad manufactures a single product. Prepare the raw material usage and purchase budget of Raising Star Berhad for each quarter of the year 20
What are risks that companies face : What are risks that companies face because of their information systems? What are the implication of the risks to a company's operations?
What is allowed to be itemized or deducted from scenario : A house hunting trip cost me $450. What is allowed to be itemized or deducted from this scenario. Filing for 2020 tax return
The process of creating strategy map : Discuss whether you found the process of creating a strategy map helpful. Why or why not? Is this something you will use in your role in health care?
What is the relevance of properly classifying costs : What is the relevance of properly classifying costs, and how does the misclassification of raw materials, direct labor, and factory overhead affect.
Determine the reliability of the manufacturing process : Suppose the reliability of the manufacturing process is unknown. The manufacturer wants to determine the reliability of the manufacturing process.
Descriptive and predictive categories of data mining : What are FOUR differences between descriptive and Predictive categories of Data Mining.
Discuss about the federal rules of civil procedure : At the end of 2006, a new edition of the Federal Rules of Civil Procedure (FRCP) went into effect. Using a Web search tool, learn more about the FRCP.
Which bank would prefer to deposit money for one year : Based on EFFECTIVE interest rates, in which bank would you prefer to deposit your money for one year? Why? SHOW CALCULATIONS.

Reviews

Write a Review

Other Subject Questions & Answers

  Cross-cultural opportunities and conflicts in canada

Short Paper on Cross-cultural Opportunities and Conflicts in Canada.

  Sociology theory questions

Sociology are very fundamental in nature. Role strain and role constraint speak about the duties and responsibilities of the roles of people in society or in a group. A short theory about Darwin and Moths is also answered.

  A book review on unfaithful angels

This review will help the reader understand the social work profession through different concepts giving the glimpse of why the social work profession might have drifted away from its original purpose of serving the poor.

  Disorder paper: schizophrenia

Schizophrenia does not really have just one single cause. It is a possibility that this disorder could be inherited but not all doctors are sure.

  Individual assignment: two models handout and rubric

Individual Assignment : Two Models Handout and Rubric,    This paper will allow you to understand and evaluate two vastly different organizational models and to effectively communicate their differences.

  Developing strategic intent for toyota

The following report includes the description about the organization, its strategies, industry analysis in which it operates and its position in the industry.

  Gasoline powered passenger vehicles

In this study, we examine how gasoline price volatility and income of the consumers impacts consumer's demand for gasoline.

  An aspect of poverty in canada

Economics thesis undergrad 4th year paper to write. it should be about 22 pages in length, literature review, economic analysis and then data or cost benefit analysis.

  Ngn customer satisfaction qos indicator for 3g services

The paper aims to highlight the global trends in countries and regions where 3G has already been introduced and propose an implementation plan to the telecom operators of developing countries.

  Prepare a power point presentation

Prepare the power point presentation for the case: Santa Fe Independent School District

  Information literacy is important in this environment

Information literacy is critically important in this contemporary environment

  Associative property of multiplication

Write a definition for associative property of multiplication.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd