Chapter 01 The Information Age in Which You Live: Changing Multiple Choice Questions 1. What does it mean to live in the "digital age"? A. Payment for goods is made with hard cash B. Living‚ working‚ learning‚ and playing in a digital world C. Accessing information over the Internet D. Being born after 1990 AACSB: Use of Information Technology Difficulty: Easy Learning Objective: 1 Taxonomy: Knowledge and Understanding 2. Why do we consider technology invasive
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References: Needles‚ B. E. (2010). Managerial Accounting. Florida: Cengage Learning. Warren‚ C. S. (2013). Managerial Accounting. Chicago: Cengage Learning.
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The following costs were incurred in September: Direct materials $42‚700 Direct labor $29‚400 Manufacturing overhead $27‚300 Selling expenses $23‚600 Administrative expenses $33‚700 Conversion costs during the month totaled: → $56‚700 $70‚000 $72‚100 $156‚700 Conversion cost = Direct labor + Manufacturing overhead = $29‚400 + $27‚300 In September direct labor was 25% of conversion cost. If the manufacturing overhead for the month was $108‚750 and the direct materials cost was $25
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CHAPTER 9 INVENTORY COSTING AND CAPACITY ANALYSIS 9-1 No. Differences in operating income between variable costing and absorption costing are due to accounting for fixed manufacturing costs. Under variable costing only variable manufacturing costs are included as inventoriable costs. Under absorption costing both variable and fixed manufacturing costs are included as inventoriable costs. Fixed marketing and distribution costs are not accounted for differently under variable costing and absorption
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Birzeit University MBA Program Managerial Accounting BUSA 631 Spring 2013 Case 3 The Rohr Company’s old equipment for making subassemblies is worn out. The company is considering two courses of action: (a) Completely replacing the old equipment with new equipment or (b) Buying subassemblies from a reliable outside supplier‚ who has quoted a unit price of $1 on a 7-year contract for a minimum of 50‚000 units per year. Production was 60‚000 units in each of the past 2 years. Future
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Textbook case: Managerial Accounting for Managers‚ 2nd edition Noreen‚ Brewer and Garrison (McGraw-Hill/Irwin‚ 2008). Case 4-33 Cost Structure; Target profit and Break-Even Analysis Contribution Income Statement for all three scenarios: 15% commission 20% commission Own sales force Sales $16‚000‚000 $16‚000‚000 $16‚000‚000 Variable manuf. cost $7‚200‚000 $7‚200‚000 $7‚200‚000 Commissions $2‚400‚000 $3‚200‚000 $1‚200‚000 -Tot. variable cost ($9‚600‚000)
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References: Managerial Accounting [VitalSouce bookshelf version]. Retrieved from http://digitalbookshelf.argosy.edu/books/0077588002/id/ch02ufn2
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The Chinese University of Hong Kong CUHK Business School FINA3020 International Finance Assignment 1 Question 1 Hang Seng Bank quotes bid-ask rates of USD/EUR 1.3005 – 1.3007 and JPY/USD 104.30 – 104.40. What would be Hang Seng Bank’s direct asking price of JPY/EUR? The cross-rate of JPY/EUR can be achieved by: JPY JPY USD EUR USD EUR The synthetic ask is the highest product: / EUR /USD / EUR Synthetic StJPY StJPY StUSD ‚ ask ‚ ask ‚ ask 104.40 1.3007 135.7931 Question 2 A bank
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Chapter 1 Introduction to Cost Management I. FINANCIAL ACCOUNTING VERSUS COST MANAGEMENT: A SYSTEMS FRAMEWORK A system is a set of interrelated parts that performs one or more processes to accomplish specific objectives. An accounting information system consists of: objectives‚ interrelated parts‚ processes‚ and outputs. Inputs are generally economic events and the operational model of an accounting system is critically involved with the user of information. There are two basic accounting
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SOLUTIONS FOR MULTIPLE‑CHOICE QUESTIONS 6.24 a. Correct Risk is high when the company always estimates the inventory but never takes a complete physical count. b. Incorrect Risk is low when the petty cash box is always locked in the desk of the custodian. c. Incorrect Risk is low when management has published a company code of ethics and sends frequent communication newsletters about it. d. Incorrect Risk is low when the board of directors reviews and approves all investment transactions. 6.25
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