ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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As an indicator of debt
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As a store of value
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As a unit of accounting
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As a medium of exchange
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Detailed explanation-1: -Normal loss is anticipated and in a process it is inevitable. It is included in total cost of the product due to which cost per unit is increases.
Detailed explanation-2: -A unit cost is a total expenditure incurred by a company to produce, store, and sell one unit of a particular product or service. Unit costs are synonymous with cost of goods sold (COGS). This accounting measure includes all of the fixed and variable costs associated with the production of a good or service.
Detailed explanation-3: -Types of cost accounting include standard costing, activity-based costing, lean accounting, and marginal costing.
Detailed explanation-4: -The formula for accounting cost can be stated as: (Manufacturing costs) + (labor, salaries and taxes) + (facility costs) + (any additional expenses) = Accounting cost.