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$57 billion

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Q: How much did it cost to build Wonderpark Mall Gauteng?
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Continue Learning about Accounting

What is a job order cost system?

You have two basic types of manufacturing processes- continuous and discrete or job shop. A job order cost is based upon the direct materials/components and direct labor associated with making this specific final product. You would tyoically add manufacturing overhead and profit to this cost (a build up) to get to fully loaded costing and pricing. A job order cost system can be standard cost based or an actual cost build-up (time and materials) if you are making custom units.


Why knowledge of cost behavior is useful information for a manager to have?

With more information about cost behavior managers can determine what products can be produced to maximize profits. This knowledge will help the organization build value for shareholders.


What is the difference between cost accounting and cost management?

For retail companies, computing cost of goods sold is a fairly straight forward process. Beginning inventory + purchases - ending inventory = COGS. For manufacturing firms, however, that simple formula won't work. They have to compute how much something cost to build, which can be extremely complicated. Hence, cost accounting evolved for manufacturing companies.


What is expensing a cost?

"Expensing a cost" is the act of declaring a business cost part of the current accounting period's cost of doing business. You're saying that the cost was required for you to do business. You're also saying that the expense didn't leave any benefit behind once it was spent. A good example is a utility bill. There are other expenses that build factories, increase inventories, or otherwise benefit you long term. Those typically aren't "expensed". They're added into an asset account and the tax deduction is taken over the useful life of the item improved.


What is the average amount that a business can expect to pay for commercial rent?

There are too many possible variables to answer this question. Among other factors, it will depend on ... * How much space do you need? * Is this retail space or office space? * What part of the US or world are you located in? Try asking a new question with more details, such as "How much does 2000 square feet of retail space cost in the average American mall?" or "How much does high-end office space cost in downtown Manhattan?"