Skip to main content

Cost Analysis – Accounting Homework Help

By Anonymous
Cost analysis can be illustrated as a method of evaluating the different elements of costs that make part of a product or service to determine if they are directly or indirectly related to the product or service and reasonable. The several elements of costs involve the cost of raw materials, labor, supplies, direct overheads, and an allocation or apportionment of indirect costs to the product or service on a consistent and scientific way. The reasonableness of the costs can be ascertained by analyzing if the costs are allowable to the product or service. 

The meaning of Cost Analysis it is analyzing that the costs are logically needed or related to the manufacturing of the product or rendering of the service. Reasonableness as well means applying the test to ascertain if costs incurred are like a prudent business would pay in a competitive marketplace.
It basically includes three steps that are as follow:

1. Verifying the accuracy of cost information
2. Determining the requirement of the costs incurred
3. Application of scientific and standard overhead rates for allocation of indirect costs

Since with any analysis, reporting the findings and taking suitable corrective actions, where essential, is the final outcome of the cost analysis process.

There are several websites available that provide online Accounting Homework Help. These Accounting Homework Help providers are supported by experts who offer help for assignments of college, university assignment help, help for School Students. 

Comments

Post a Comment

Popular posts from this blog

Defining stock and debtors system

By Expertsbuzz.com
Under Stock and Debtors System, the head office does not open a Branch Account in its books. It maintains a few control accounts for recording the various branch transactions. These accounts usually are: (i) Branch Stock Account, (ii) Branch Debtors Account, (iii) Branch Expenses Account, (iv) Branch Cash Account (v) Goods sent to Branch Account, and (vi) Branch Fixed Assets Account. At the end of the accounting year, it prepares the Branch Adjustment Account and the Branch Profit & toss Account. This system is used only when goods are invoiced at , selling price which the branch is not allowed to vary. Let us now study the working of each account opened by the head office when such a system is followed. Branch Stock Account: This is the most important account which helps the head office in controlling the branch stock. It shows all branch transactions relating to goods. The goods sent to branches and the sales returns are shown on its debit side, and the sales (both cash and c...
Post a Comment
Read more

Reckless acts of violence

By
In 1990, a guy by the name of David Koresh formed a group of followers who believed in the book of revelation as an apocalyptic in the New Testament of the bible who called themselves Branch Davidians.  Koresh was a high school drop out that possessed a young charismatic religious belief.  Koresh's followers called him, "The Lamb of God."  The group formed outside Waco, Texas in a well-built compound built to survive judgment day. A mailman, in 1992, noticed a partially opened package that contained grenades.  The mailman reported this to the Alcohol, Tobacco and Firearms (ATF).  An investigation was opened on the group and Koresh.  As a result, a search warrant was granted to search the compound of weapons and explosives. tactical team formed outside the compound for a raid, which was met with force.  Four agents, and six of Koresh's followers were killed.  This incident lasted for 5 days.  The Federal Bureau of Investigations (FBI) assume...
Post a Comment
Read more

Synthesis And Behaviour Advances of Inorganic Chemistry

By
In the year 1869, Russian Chemist Dmitry Mendeleyev forms the periodic table of the element. Since Newlands did before him in the year 1863, Mendeleyev categorizes the elements, according to their atomic weights and observes that they show recurring patterns or periods of properties. Inorganic chemistry is the study of the behavior and synthesis of inorganic and organometallic compounds. Such field covers all chemical compounds apart from the myriad organic compounds (i.e., carbon based compounds, generally having C-H bonds), that are the subjects of organic chemistry. The distinction among the two disciplines is far from absolute, and there is too overlap, most significantly in the sub-discipline of organometallic chemistry. It has applications in all aspect of the chemical industry–comprising catalysis, materials science, fuel, surfactants, pigments, coatings, medicine, and agriculture.   Inorganic chemistry is concerned with the reactivity and properties of all ...
Post a Comment
Read more