Chapter 1 Lecture Notes Chapter theme: This chapter explains why managerial accounting is important to the future careers of all business students. It answers three questions: (1) What is managerial accounting? (2) Why does managerial accounting matter to your career? and (3) What skills do managers need to succeed? It also discusses the importance of ethics in business and corporate social responsibility. I. What is managerial accounting? A. Examine the difference
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University of Washington – ACCT 225 – Intro Managerial Accounting Midterm 2 Study Guide Below is a list of some of the things you should definitely be familiar with for Midterm 2. It is not intended to be a complete list. Rather‚ this should be used a supplement to the studying you were otherwise doing. Chapter 7 Under variable costing‚ only those manufacturing costs that vary with production quantity (output) are included as product costs. This would typically include direct materials‚ direct
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Fin 4910/6990 Further Questions Problem 7.19 (a) Company A has been offered the rates shown in Table 7.3. It can borrow for three years at 6.45%. What floating rate can it swap this fixed rate into? (b) Company B has been offered the rates shown in Table 7.3. It can borrow for 5 years at LIBOR plus 75 basis points. What fixed rate can it swap this floating rate into? (a) Company A can pay LIBOR and receive 6.21% for three years. It can therefore exchange a loan at 6.45% into a loan at LIBOR plus
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Faculty of Business Administration Department of Accounting BBA Program COURSE OUTLINE Term: Summer 2012 – 2013 I. Course Code and Title : BBA – 2210: Managerial Accounting II. Credit : 3 credit hours III. Course Description: This course introduces management accounting as an interactive discipline among the young learners and covers a wide range of issues leading to managerial decision making such as: Definition and features of managerial accounting; cost terms‚ concepts‚ and classifications; cost
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PROBLEM 1. The Huyden Company builds equipment to customer’s specifications. On March 1‚ two jobs were in process with the following costs and information: | Job 43 | Job 44 | Direct materials | $10‚200 | $34‚400 | Direct labor | 21‚000 | 10‚400 | Applied overhead* | 4‚950 | 7‚370 | Total cost | $36‚150 | $52‚170 | | | | Machine hours | 45 | 67 | *Applied on the basis of machine hours During March‚ Job 45 was started and Job 44 was completed and delivered to
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Assignment 4-2: Week 4 Analysis Write-Up Kylie Keener ACCT715-Q1WW Financial Accounting Theory Michael Miller 13 June 2012 1. Chapter 4: Problem 8 (GM) The article “GM to Take Charge of $20.8-Billion” here reproduced from The Globe and Mail (February 2‚ 1993) describes the potential impact of SFAS 106‚ “Accounting for Postretirement Benefits Other Than Pensions‚” on General Motors and Ford. For example‚ it appears that General Motors will be required to record a liability of $20.8 billion
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(MCE) is: 3. If the MCE is 35%‚ then 35% of throughput time was spent in value-added activities‚ the other 65% was spent in non-value-added activities. 4. Delivery cycle time = Wait time + Throughput time = 16.0 days + 8.0 days = 24.0 days 5. If all queue time is eliminated‚ then the throughput time drops to only 4 days (0.5 + 2.8 + 0.7). The MCE becomes: Thus‚ the MCE increases to 70%. This exercise shows quite dramatically how lean production approach can improve
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Salem State University ACC202 – Managerial Accounting – Practice Test Chapters 14‚ 1‚ 2 Professor Paul F McGee‚ CPA Name___________________________________________ Please indicate the best/correct answer by circling the appropriate letter. 1. Managerial accounting helps managers perform three vital activities. These activities include all of the following except: a. Planning b. Controlling c. Decision making d. Hiring Controllers 2. The act that was intended to protect the interests
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Managerial Accounting Study Guide Chapter 2 Differences between financial and managerial accounting Managerial accounting provides information to managers‚ the people inside the organization who direct and control its operations. Financial accounting provides information to stockholders‚ creditors‚ and others who are outside the organization. Managerial accounting = inside the organization Financial accounting = outside the organization Exhibit 2-2 Comparison of Financial and Managerial Accounting
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Micro Chapter 25 Practice Questions Key 1. Derived demand is the demand: A) that arises because of monopoly control of resources in a market. B) for a product based on the tastes and preferences of consumers. C) derived from consumer satisfaction with a product. D) for a resource to produce a product. Answer: D 2. Marginal revenue product is the increase in: A) total revenue from a decrease in the price of the product. B) marginal revenue from a decrease in the price of the product
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