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Author Question: What are the factors that are causing many companies to refine their costing systems to obtain more ... (Read 78 times)

dmcintosh

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on: Jul 5, 2018
What are the factors that are causing many companies to refine their costing systems to obtain more accurate measures of the costs of their products?
 
  What will be an ideal response?

Question 2

A collection of related characters that comprise an attribute such as a customer number or name is known as a
 a. Character
  b. Field
  c. Record
  d. Table


kishoreddi

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Reply #1 on: Jul 5, 2018
Answer to Question 1

Answer: The first cause is increasing product diversity. Companies are producing many more products than they used to, placing strains on more simple, older cost systems. A second cause is the overall increased in indirect costs and the relative decline of direct costs. The indirect nature of these costs requires allocation, and any inaccuracies in allocation of these costs become magnified as these indirect costs increase. A third cause would be advances in information technology that makes complex allocation of indirect costs less burdensome. Finally, increased competition from both national and international competitors has resulted in more pressure to reduce costs, as well as increasing the need for and value of information to support responses to these new threats.

Answer to Question 2

B


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