In addition to the above (sunk costs, opportunity costs, incremental costs) many times there are qualitative...
In addition to the above (sunk costs, opportunity costs, incremental costs) many times there are qualitative factors that come into the decision making process. What nonquantitative aspects may also be relevant to the decision?
Homework Answers
The non-quantitative factors that may also be relevant for decision making in cost accounting is as follows-
(i) Employee morale- The most important and sensitive resource of an organisation is the human resource. The employees contribution to an organisation is the pillar for its success. So, if they are not positively motivated, it might result in lay off or under performance. Hence, it becomes relevant for decision making.
(ii) Cheap product pricing- Sometimes, the cheap product prices may create an impression in the minds of customer with regard to poor quality. Hence, the product pricing shall maintain the market level prices and also be competitive in order to retain customers.
(iii) Customer support- The customer may always be willing for after sales services, so as to be more confident with regard to the products that he has purchased So, proper customer services are relevant for decision making.
Add Answer to:
In addition to the above (sunk costs, opportunity costs,
incremental costs) many times there are qualitative...
Describe controllable, differential, relevant, sunk, opportunity, average, incremental, and standard costs. Describe controllable： Differential： Relevant： Sunk：...
Describe controllable, differential, relevant, sunk, opportunity, average, incremental, and standard costs. Describe controllable： Differential： Relevant： Sunk： Opportunity： Average： Incremental： Standard costs： At lease 300 words
Costs incurred before the split-off point are a. incremental costs. b. relevant costs. c. opportunity costs....
Costs incurred before the split-off point are a. incremental costs. b. relevant costs. c. opportunity costs. d. sunk costs.
1) When making Managerial decisions, explain what financial and non-financial information is involved in the decision...
1) When making Managerial decisions, explain what financial and non-financial information is involved in the decision making process? 2) Explain the following concepts utilized in Incremental Analysis--Relevant Costs, Opportunity Costs and Sunk Costs? 3) What is the purpose of incremental analysis used by a company? 4) Why do we only look at relevant costs in accepting or rejecting a special order at a set price? What assumptions are made in this decision-making process? 5) What factors do we look at...
Kindly provide an explanation as to what are the main concepts pertaining to arriving at relevant...
Kindly provide an explanation as to what are the main concepts pertaining to arriving at relevant costing and discuss how these principles might apply to a manufacturing company. Answer: A relevant cost is a current or future cost that will differ among alternatives. For example, relevant cost of material is the raw material cost that needs to be considered while taking a managerial decision. Relevant cost of material may be in the form of incremental cash flows or opportunity cost....
U opportunity COSES. O sunk costs. O relevant costs. O variable costs. 0 product costs. QUESTION...
U opportunity COSES. O sunk costs. O relevant costs. O variable costs. 0 product costs. QUESTION 9 Limited resources and limited demand for a product are generally referred to as O resources. O problems. O constraints. O optima. O contribution factors. QUESTION 10 The operations of Knickers Corporation are divided into the Pacers Division and the Bu
As a student what are the quantitative and qualitative costs associated with your obtaining an MBA,...
As a student what are the quantitative and qualitative costs associated with your obtaining an MBA, referencing costs from (Opportunity Cost, Relevant Cost, Irrelevant Cost, and Sunk Cost). Do the benefits outweigh the costs?
How would you respond to this post? Sunk costs are costs that have been incurred previously...
How would you respond to this post? Sunk costs are costs that have been incurred previously and cannot be retrieved; therefore, they are irrelevant, meaning that the costs will be incurred regardless of the decision to be made (Douglas, 2012). Most fixed costs are sunk costs unless the asset can be sold to someone else; however, most times, the item is sold at a lower price than the purchase price or historical cost, which is known as the salvage value....
Sunk costs and opportunity costs Masters Golf Products, Inc., spent 4 years and $1,020,000 to develop...
Sunk costs and opportunity costs Masters Golf Products, Inc., spent 4 years and $1,020,000 to develop its new line of club heads to replace a line that is becoming obsolete. To begin manufacturing them, the company will have to invest $1,770,000 in new equipment. The new clubs are expected to generate an increase in operating cash inflows of $746,000 per year for the next 12 years. The company has determined that the existing line could be sold to a competitor...
choose either a personal decision or business decision and explain both the quantitative and qualitative factors...
choose either a personal decision or business decision and explain both the quantitative and qualitative factors involved. Do not give actual dollar amounts—just relate in general terms. Explain the process by which you made the decision. Did it mirror the decision-making process from your textbook? If not, what was different? What was the opportunity cost of the decision? Did qualitative factors outweigh quantitative ones? Which factors, if they had changed, would have resulted in a different decision?
Sunk costs and opportunity costs Masters Golf Products, Inc., spent 2 years and $1,160,000 to develop...
Sunk costs and opportunity costs Masters Golf Products, Inc., spent 2 years and $1,160,000 to develop its new line of club heads to replace a line that is becoming obsolete. To begin manufacturing them, the company will have to invest $1,850,000 in new equipment. The new clubs are expected to generate an increase in operating cash inflows of $752,000 per year for the next 14 years. The company has determined that the existing line could be sold to a competitor...
U opportunity COSES. O sunk costs. O relevant costs. O variable costs. 0 product costs. QUESTION 9 Limited resources and limited demand for a product are generally referred to as O resources. O problems. O constraints. O optima. O contribution factors. QUESTION 10 The operations of Knickers Corporation are divided into the Pacers Division and the Bu
Sunk costs and opportunity costs Masters Golf Products, Inc., spent 4 years and $1,020,000 to develop its new line of club heads to replace a line that is becoming obsolete. To begin manufacturing them, the company will have to invest $1,770,000 in new equipment. The new clubs are expected to generate an increase in operating cash inflows of $746,000 per year for the next 12 years. The company has determined that the existing line could be sold to a competitor...
Sunk costs and opportunity costs Masters Golf Products, Inc., spent 2 years and $1,160,000 to develop its new line of club heads to replace a line that is becoming obsolete. To begin manufacturing them, the company will have to invest $1,850,000 in new equipment. The new clubs are expected to generate an increase in operating cash inflows of $752,000 per year for the next 14 years. The company has determined that the existing line could be sold to a competitor...
Most questions answered within 3 hours.
-
please don't use the p value method instead use the "5 steps of
hypothesis testing." Or...
asked 16 minutes ago -
It is said that Galileo discovered a basic principle of the
pendulum—that the period is independent...
asked 21 minutes ago -
The Cost of Equity and
Flotation Costs
Messman Manufacturing
will issue common stock to the public...
asked 28 minutes ago -
a) summarize the challenges facing New Britain today
b) identify some of its strengths
c) suggest...
asked 30 minutes ago -
**86 at 40 not 88. please show how got Tr in calculations thank
you
2) The...
asked 31 minutes ago -
McGlaun Company pays its employees every two weeks. The firm
last paid its employees on September...
asked 44 minutes ago -
You have been gifted a Mogwai as a pet and decide to do a little
online...
asked 49 minutes ago -
given the standard of 200 mg/dl and the absorbance of that
standard is 0.640. What is...
asked 52 minutes ago -
Exercise 8-51 Algo
An accounting professor is notorious for being stingy in giving
out good letter...
asked 1 hour ago -
month
total distribution cost
level of activity (unit produced)
july
230.000
3500
august
250.000
3750
september...
asked 1 hour ago -
A smoke detector system uses two devices, A and B. If smoke is
present, the probability...
asked 1 hour ago -
Your division head has assigned another important project to you
and your team. This project is...
asked 1 hour ago