Explain the term economic order quantity.
Q: What Is Quantity Discount Analysis Illustrated?
A: Cost: It is the economic value of resources incurred by a firm to manufacture a product or render…
Q: Explain what is Flow Cost Accounting, its nature.
A: Material flow cost accounting or flow cost accounting can be defined as a method used by firms and…
Q: are the major assumptions made by economic order quantity (EOQ) model?
A: Step 1 Economic order quantity (EOQ) is the ideal order quantity a company should purchase to…
Q: Define the term price-takers.
A: Price takers is the term used for individual or a company which cannot influence the price of a…
Q: Define cost-volume-profit analysis?
A: Cost-Volume-Profit Analysis (CVP Analysis): CVP Analysis is a tool of cost accounting that measures…
Q: Define the term s price-earnings ratio?
A: Financial Ratios: Financial ratio analysis expresses the relationships between different items…
Q: Explain the Problems in Cost Accounting Measurements?
A:
Q: What is Re-order quantity? What is Re-order level? What is Maximum stocklevel? With respect to…
A: Inventory management consist of various levels namely re-order level, re-order quantity, maximum and…
Q: What is the Economic Ordering Quantity?
A: Economic ordering quantity (EOQ): Economic ordering quantity (EOQ) is the perfect order quantity a…
Q: How cost accounting covers the problem of price assessment
A: Cost Accounting Cost accounting is also a form of group action accounting that aims to capture a…
Q: Define and explain the concept of cost accounting.
A: Introduction: An essential fee accounting device operates in real-time by monitoring raw materials…
Q: What is Cost account payable
A: All variable costs are reduced from sales revenue to get at a contribution margin, from which all…
Q: Describe the account analysis method for estimating a cost function.
A: Definition: Account Analysis Method: The account analysis method of estimating a cost function…
Q: How realistic are the assumptions of the economic order quantity model? Discuss each assumption…
A: Economic Order Quantity (EOQ): Economic order quantity is the quantity of order that is purchased…
Q: Define the term Current cost.
A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…
Q: In Cost accounting the main emphasis is on ?
A: Cost accounting is the classification, documentation, and appropriate distribution of expenditure…
Q: cost equation?
A: Consider the cost equation Y = a + bX, where, Y = Total cost a = Fixed cost. b = Variable cost per…
Q: Define the term Raw-materials- inventory?
A: Inventory is the materials such as raw materials, finished products, in-process goods that are…
Q: Define the term traditional cost accounting.
A: Traditional costing is described as all of the overhead prices are assembled collectively and then…
Q: Explain why the economic order quantity is the intersection of the ordering-cost curve and the…
A:
Q: cost
A: A standard fee accounting gadget works with the aid of using monitoring uncooked substances as they…
Q: Describe how changes in the demand, ordering cost,or holding cost affect the EOQ.
A: Conceptual base- Economic Order Quantity (EOQ) is the order quantity that minimizes total inventory…
Q: Determine the reorder point. order point units Determine the economic order quantity.
A: We know that, Reorder point = average daily usage*lead time + safety stock So here, reorder point is…
Q: Explain Historical Cost Principle in detail with example.
A: In bookkeeping, we may utilize four adequate estimation bases. These are the historical expense or…
Q: Define the term Income Smoothing.
A: Income Smoothing: It is an accounting technique which is used to move revenues and expenses of one…
Q: Define “Market Value Added (MVA)” and “Economic Value Added(EVA).”
A: Introduction: Economic value added (EVA) and Market value added (MVA) are computations utilized to…
Q: The chemical's economic order quantity is
A: Economic order quantity is the quantity level which a company orders on a single order. The reason…
Q: What do you mean by cost accounting? Write about its types in brief with examples
A: Accounting is a procedure whereby an individual can record financial transactions of the business.…
Q: What is a quantity standard? What is a price standard?
A: Quantity Standard : A quantity standard is the amount of an input, such as labor time or raw…
Q: What is the quantity decision? The pricing decision?
A:
Q: Define the term product pricing.
A: Managerial accounting: Managerial accounting is more focused towards analyzing information and…
Q: Define Historical cost principle.
A:
Q: Define the terms market value added (MVA) and economic value added (EVA).
A: The concept of economic value added was developed by Stern Stewart & co & is also known as…
Q: Explain price/EBITDA ratio
A: The EV/EBITDA ratio compares a company's enterprise value to its earnings before interest, taxes,…
Q: Define the term price-setters.
A: When a company cannot dictate prices then it is known as price taker. On the contrary, when a…
Q: Describe consumption and production externalities.
A: An externality is a benefit or cost imposed on third party who had not agree to incur the monetary…
Q: Explain the features of cost accounting.
A: Cost accounting is a branch of accounting in which all the costs involved in manufacturing of a…
Explain the term economic order quantity.
Step by step
Solved in 2 steps with 3 images