IDENTIFICATION -Carlos Salinas De Gortari

question 34

Short Answer

IDENTIFICATION
-Carlos Salinas de Gortari

Determine cost drivers and their impact on product or service costing.

Calculate customer and product margins using activity-based costing data.

Understand capacity analysis and its implications for business cost management.

Apply ABC data to make informed decisions about pricing, overhead, and resource allocation.

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Definitions:

FIFO Method

The First-In, First-Out method is an inventory valuation technique where the costs of the earliest goods purchased are the first to be recognized in cost of goods sold.

Earliest Units

The first units produced or acquired in a period, which are often accounted for differently in inventory costing methods.

Cost Of Goods Sold

The total cost directly associated with producing goods sold by a business, including materials and labor.

Perpetual Inventory System

An inventory system under which the company keeps detailed records of the cost of each inventory purchase and sale, and the records continuously show the inventory that should be on hand.