Chapter 1 Cost Accounting: Information for Decision Making Solutions to Review Questions 1-1. Financial accounting is designed to provide information about the firm to external users. External users include investors‚ creditors‚ government authorities‚ regulators‚ customers‚ competitors‚ suppliers‚ labor unions‚ and so on. Cost accounting systems are designed to provide information to internal users (managers). This difference is important‚ because it affects the design of the systems. Financial
Premium Costs Cost accounting Variable cost
ensuring to make the dgigtal life better for its customers. Eco- Friendly “Life’s Good- When It’s Green”- this is a program of LG Electronics which includes two parts of procedures: pre- production and post-production. In thir vision‚ it is estimated that 15‚ 000 tons of pre-production and 30‚ 000‚000 tons of post-production stages of green gases should be reduced as their target in the near future. LG’s 47LW5500-ZE and 47LW550 TZCIN Ema 3D TVs have been announced the first Tvs in Europe which have the
Premium South Korea Innovation Company
CHAPTER 10 QUIZ 1. A mixed cost function has a constant component of $20‚000. If the total cost is $60‚000 and the independent variable has the value 200‚ what is the value of the slope coefficient? a. $200 b. $400 c. $600 d. $40‚000 2. [CMA Adapted] Of the following methods‚ the one that would not be appropriate for analyzing how a specific cost behaves is a. the scattergraph method. b. the industrial engineering approach. c. linear programming. d. statistical regression analysis.
Premium Costs Cost Economics
137 was started and completed during the year. What price would have been charged to the customer if the job required $3‚200 in materials and $4‚200 in direct labor cost‚ and the company priced its jobs at 40% above the job’s cost according to the accounting system? 5. Direct labor made up $8‚000 of the $40‚000 ending Work in Process inventory balance. Supply the information missing below: Direct materials . . . . . . . . . . . . . . . $ ? Direct labor . .
Premium Manufacturing Supply chain management terms Inventory
5-5 Production Report‚ No Beginning Inventory Wantler Company Mixing Department ------------------------------------------------- Production Report for 2001 Unit Information Units to account for: Units in beginning WIP 0 Units started 75‚000 Units to account for 75‚000 Units accounted for: Equivalent Units Physical Direct Conversion Flow Materials Costs Units completed 75‚000 75‚000 75‚000 Units in ending WIP 12‚000
Premium Costs Total cost Units of measurement
E -11 DM 5 DL 4 VMO 3 FMO = 180‚000/50‚000 = 3.6 Total = 15.6 15.6 * 5‚000 (50‚000-45000) = 78‚000 E-12 DM 5 DL 4 VMO 3 Cost per unit = 12 $ EIV = 12 * 5000 = 60‚000 E-13 Difference 3.6 * 5000 = 18‚000 And 78‚000 – 60‚000 = 18‚000 E-14 CGS sold = 45000(sold) * 15.60 = 702‚000 E15 12 * 45000 = 540‚000 E16 Sales = 30 * 45‚000 = 1‚350‚000 CGS 702‚000 CM 648‚000 Less S & admin. 160‚000 Net income 488‚000 E17 Sales =
Premium Costs Variable cost Cost
MANAGERIAL AND COST ACCOUNTING LARRY M. WALTHER & CHRISTOPHER J. SKOUSEN DOWNLOAD FREE TEXT BOOKS AT BOOKBOON.COM Managerial and Cost Accounting © 2009 Larry M. Walther‚ under nonexclusive license to Christopher J. Skousen & Ventus Publishing ApS. All material in this publication is copyrighted‚ and the exclusive property of Larry M. Walther or his licensors (all rights reserved). ISBN 978-87-7681-491-5 Download free books at BookBooN.com 2 Managerial and Cost Accounting
Premium Management accounting
Chapter 1 Managerial Accounting: Tools for Decision Making Discussion QUESTIONS Q1-1. Financial accounting is oriented toward external users and is concerned with general-purpose financial statements. These financial accounting statements are highly aggregated‚ report on relatively long time periods‚ are oriented toward the past‚ and must conform to external standards. These standards emphasize the use of objective data. Management accounting is oriented toward internal users and is
Premium Management accounting Costs Cost
Exercise 2-2 | | |Product |Period Cost | | | |(Inventoriable) Cost | | |1. |Depreciation on salespersons’ cars | |X | |2.
Premium USB flash drive Flash memory Inventory
Services‚ 14e‚ Global Edition (Arens) Chapter 15 Audit Sampling for Tests of Controls and Substantive Tests of Transactions Learning Objective 15-1 1) A sample in which the characteristics of the sample are the same as those of the population is a(n): A) variables sample. B) representative sample. C) attributes sample. D) random sample. Answer: B Terms: Sample in which characteristics of sample are same as population Diff: Easy Objective: LO 15-1 AACSB: Reflective thinking skills
Free Sampling Sample size