the donating public. LO 1. | | 2 INCORRECT | | Which of the following statements is true? | | | A) | Managerial Accountants are "number crunchers" who provide critical information to decision makers but do not themselves contribute to the decision making process. | | | B) | The role of the managerial accountant has not changed in the last twenty years. | | | C) | Managerial accountants play an integral leadership role on an organization’s management team. | | | D) | The activities
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1-1 Chapter 1 An Introduction to Managerial Accounting and Cost Concepts Introduction to Managerial Accounting MSc. Mohammad Hicham Khalil Objectives 1. Comparison of Financial and Managerial 2. 3. 4. 5. 6. 7. 8. Accounting. General Cost Classifications. Product Cost versus Period Cost. Cost Classifications on Financial Statements. Cost Classifications for Predicting Cost Behavior. Cost Classification for Assigning Costs to Cost Objectives. Cost Classification for Decision Making
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Managerial Accounting Analysis of Concepts and Techniques Managerial Accounting BUS 630 Managerial Accounting Analysis of Concepts and Techniques Introduction/Thesis Statement Managerial accounting is a concept used in businesses to manage internal systems. Understanding the importance of effective decision making‚ planning and control creates a foundation for value within the company on a more in depth level. Planning and controlling is measured by performance based on budgeting accounts
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Chapter 2 Cost Terms‚ Concepts‚ and Classifications Solutions to Questions 2-15 Direct labour cost (46 hours $18 per hour) $828 Manufacturing overhead cost (6 hours $9 per hour) 54 Total wages earned $882 2-16 Direct labour cost (35 hours $26 per hour) $910 Manufacturing overhead cost (5 hours $26 per hour) 130 Total wages earned $1‚040 Problem 2-15 (30 minutes) Name of the Cost Variable Cost Fixed Cost Product Cost Period (Selling
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CHAPTER 3 PROBLEM 3-43 (35 MINUTES) 1. Predetermined overhead rate = budgeted overhead ÷ budgeted direct-labor cost = $2‚730‚000 ÷ $2‚100‚000 = 130% of direct labor cost 2. Additions (debits) total $7‚802‚500 [$2‚800‚000 + $2‚175‚000 + ($2‚175‚000 x 130%)]. 3. The finished-goods inventory consisted of job no. 3154‚ which cost $175‚750 [$78‚000 + $42‚500 + ($42‚500 x 130%)]. 4. Since there is no work in process at year-end‚ all amounts in the Work-in-Process account must
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Practice Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) If the marginal benefit of pizza exceeds the marginal cost of pizza‚ then compared to the allocatively efficient quantity‚ we are producing too ________ pizza and too ________ of other goods. A) little; much B) little; little C) much; little 1) D) much; much Answer: A 2) ________ is the difference between the value
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These are the automatically computed results of your exam. Grades for essay questions‚ and comments from your instructor‚ are in the "Details" section below. | Date Taken: | 8/3/2013 | Time Spent: | 24 min ‚ 43 secs | Points Received: | 90 / 100 (90%) | | Question Type: | # Of Questions: | # Correct: | Multiple Choice | 10 | 9 | | | Grade Details - All Questions | 1. | Question : | (TCO A) Which of the following statements is CORRECT? | | | Student Answer: | |
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Page: | 1 2 | 1. | Question : | (TCO F) Assume there is no beginning work in process inventory and the ending work in process inventory is 100% complete with respect to materials costs. The number of equivalent units with respect to materials costs under the weighted-average method is: | | | Student Answer: | | the same as the number of units put into production. | | | | less than the number of units put into production. | | | | the same as the number of units completed
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The Board of Aldermen of the Hayville approved the Appropriations budget for its General Fund for the year ending December 31 as shown below. |General Government |$ 500‚000 | |Public Safety |2‚800‚000 | |Public Works |1‚200‚000 | |Health and Welfare
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(FALSE) 8.) Managerial accounting places less emphasis on non monetary data than financial accounting? (FALSE) 9.) Direct material cost combines with manufacturing overhead cost is known as conversion cost? (FALSE) direct labor 10.) The cost of shipping parts from a supplier is not considered a product cost? (FALSE) it is a product cost 11.) The fixed cost per unit is constant and does not depend on how many units are produced? (FALSE) it does depend (it is not constant) 12.) Managerial accounting is primarily
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