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Allocation of costs to various cost objects: Question 1 options:1)may affect managers\' performance evaluation.2)may affect the overall profitability of a company.3)may affect the apparent profitability of the various products a company makes.4)Both may affect managers\' performance evaluation and may affect the apparent profitability of the various products a company makes are correct. Solution Allocation of costs to various cost objects affetcts both performance evaluation of Managers and the apparent profitability of various products a company makes. The total costs are allocated to different products or cost centre or activity types. The overall profitability of the company remain same as the total costs do not change, but based on the allocation rules , different amonuts are allocated to cost objects. Managers are responsible for the departmental budget and depending on the method of allocation of costs to the cost centres under the department , the budget may be adhered to or exceeded. Similarly product profitability depends on the cost allocation made to it or the cost allocation made to the resources or activities consumed by the product. the method of cost allocation affects product profitability in this way. So the statement 4. is the correct one..

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Chapter 10 Cost Estimation and Cost- Volume-Profit Relationships Learning Objectives • Understand the significance of cost behavior to decision making and control. • Identify the interacting elements of cost-volume-profit analysis. • Explain the break-even formula and its underlying assumptions. • Calculate the effect on profits of changes in selling prices, variable costs, or fixed costs. • Calculate operating leverage, determine its effects on changes in profit, and understand how margin of safety relates to operating leverage. • Find break-even points and volumes that attain desired profit levels when multiple products are sold in combination. • Obtain cost functions by account analysis and the high-low method. James Forte/National Geographic/Getty Images eps81189_10_c10.indd 207 12/20/13 9:45 AM CHAPTER 10Introduction Chapter Outline Introduction 10.1 Significance of Cost Behavior to Decision Making and Control Decision Making Planning and Control Trends in Fixed Costs 10.2 Cost-Volume-Profit (CVP) Analysis Basics of CVP Analysis A Desired Pretax Profit A Desired Aftertax Profit 10.3 Graphical Analysis The Break-Even Chart Curvature of Revenue and Cost Lines The Profit-Volume Graph 10.4 Analysis of Changes in CVP Variables Sales Volume Variable Costs Price Policy Fixed Costs Ethical Considerations When Changing CVP Variables 10.5 Measures of Relationship Between Operating Levels and Break-Even Points Operating Leverage Margin of Safety 10.6 The Sales Mix 10.7 Cost Estimation Account Analysis High-Low Method Ethical Considerations in Estimating Costs Other Issues for Cost Estimation Introduction Managers need to understand cost behavior and cost estimation to be in a better posi-tion to plan, make decisions, and control costs. As we discussed in Chapter 9, cost behavior describes the relationship between costs and an activity as the level of activity increases or decreases. Determining cost behavior is important to management’s eps81189_10_c10.indd 208 12/20/13 9:45 AM CHAPTER 10Section 10.1 Significance of Cost Behavior to Decision Making and Control understanding of overhead costs, marketing costs, and general and administrative expenses, as well as for proper implementation of budgets and budgetary controls. With knowledge of cost behavior, managers can also estimate how costs are affected as future activity levels change, which can lead to better decisions. In addition, knowledge of cost behavior can assist managers in analyzing the interactions among revenues, costs, and volume for profit-planning purposes. These interactions are covered later in this chapter. 10.1 Significance of Cost Behavior to Decision Making and Control To understand more fully the significance of a manager’s analysis of cost behavior, we look at three areas: decision making, planning and control, and trends in fixed costs. Decision Making Cost behav ...

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BBA 2301, Principles of Accounting II 1 Course Learning Outcomes for Unit VIII Upon completion of this unit, students should be able to: 7. Explain how financial information influences both short-term and long-term management decisions. 7.1 Describe the use of standard cost manufacturers and service businesses. 8. Discuss operational and capital budgets. 8.1 Describe capital budgeting methods. 8.2 Identify the use of intangible benefits in capital budgeting. Course/Unit Learning Outcomes Learning Activity 7.1 Unit Lesson Chapter 26, pp. 26-1 to 26-24 Webpage: Balanced Scorecard Basics Video: What is a balanced scorecard: A simple explanation for anyone Unit VIII Case Study 8.1 Unit Lesson Chapter 27, pp. 27-1 to 27-19 Unit VIII Case Study 8.2 Unit Lesson Chapter 27, pp. 27-1 to 27-19 Unit VIII Case Study Required Unit Resources Chapter 26: Standard Costs and Balanced Scorecard, pp. 26-1 to 26-24 Chapter 27: Planning for Capital Investments, pp. 27-1 to 27-19 In order to access the following resources, click the links below. Balanced Scorecard Institute. (n.d.). Balanced scorecard basics. https://balancedscorecard.org/bsc-basics- overview/ For the video resource below, a transcript and closed captioning are available upon accessing the video. Marr, B. (2019, June 24). What is a balanced scorecard: A simple explanation for anyone [Video]. Cielo24. https://c24.page/2s4pmxpj2kpwnprckg6p8tcjtu Unit Lesson Introduction This final unit will conclude the study of managerial accounting. This lesson will share important content for managers in manufacturing, merchandising, and service companies. Content includes estimating future costs, implementing financial and non-financial performance measures, and incorporating capital budgeting. Costing requires you to make estimates. As noted in a previous unit, many people are uncomfortable with this task, as they are used to having objective numbers given to them. However, as much as the future is UNIT VIII STUDY GUIDE Management: Costs and Capital Investing https://balancedscorecard.org/bsc-basics-overview/ https://c24.page/2s4pmxpj2kpwnprckg6p8tcjtu BBA 2301, Principles of Accounting II 2 UNIT x STUDY GUIDE Title unpredictable, we are still required to use our experience and judgment to chart a path forward. In this unit, you will learn about standard costs. Partially based on prior period actual costs, they provide the basis for budgeting and subsequent evaluation. Management accountants, no matter the title, are integral to the development of standard costs, implementation of the balanced scorecard, and the capital budgeting process. Pay attention as you read, review, and evaluate this unit as it is almost wholly transferable to any company. Consider the following questions and how you would respond to each as you move through this unit.  As the chief accounting officer (CAO) or chief ...

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