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Average Cost Flow Assumption. A calculation used by companies to monitor inventory goods. The average cost flow assumption is one of a variety of cost flow assumption methods used to determine the cost of goods sold (COGS) and ending inventory. Companies use one or more methods to make certain assumptions regarding which goods have been sold and which remain in inventory.
The basic cost flow model. Price: $4.99. 1. Costs incurred in the past that cannot be changed by a present or future decision are termed: opportunity costs. sunk costs. differential costs. avoidable costs. 2. We use cost estimation to determine: the cost formula. total costs. the fixed and variable components of the total cost. engineering estimates. 3. The basic cost flow model is: a. BB + TO - TI = EB. b. BB + EB - TO = TI. c. BB - TI - TO = EB. d. BB + TI - TO = EB. 4. In a labor intensive company in which more overhead is used by the more highly skilled and paid employees, which activity base would be most appropriate for applying overhead to production? a. Direct labor cost b. Direct material cost c. Direct labor hours d. Machine hours 5. What is the beginning balance for Case A? Case A Beginning balance ???? Ending balance $67,000 Transferred in 149,600 Transferred out 164,600 (Points : 3) a. $52,000 b. $82,000 c. $67,000 d. $97,600 6. For which of the following businesses would the job order cost system be appropriate? a. Law office b.