Chapter 2 1. Which of the following would be considered a product cost for external financial reporting purposes? a. Cost of a warehouse used to store finished goods. b. Cost of guided public tours through the company’s facilities. c. Cost of travel necessary to sell the manufactured product. d. Cost of sand spread on the factory floor to absorb oil from manufacturing machines. 1. Which of the following would be considered a product cost for external financial reporting purposes
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overwrite the current Managers ACL. The new commands are added to the end of the current Managers ACL. ***** The new commands are added to the beginning of the current Managers ACL. An error appears stating that the ACL already exists. 3 Why are inbound ACLs more ef ficient for the router than outbound ACLs? Inbound ACLs deny packets before routing lookups are required. ***** Inbound ACL operation requires less network bandwidth than outbound. Inbound ACLs permit or deny
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Answer Key for Test Your Skills 1. Tutti’s Sandwich Shop has the following information regarding costs at various levels of monthly sales. Help Tutti separate her costs into fixed costs and variable costs so that she can predict and evaluate costs at varying levels of guests served. January February March Monthly Sales in Guests Served 10‚000 16‚000 20‚000 Cost of Sales (Food Cost ) 10‚500 16‚800 21‚000 Salaries‚ Wages‚ and Benefits 15‚000 15‚600 16‚000 Telephone 12‚750 16‚350 18‚750 Rent on
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iv. Analyzing Company Accounts v. Ratio Analysis II. MANAGEMENT ACCOUNTING 3 i. The Objectives of Management Accounting: ii. Scope of Management Accounting: iii. Functions of Management Accounting: iv. Advantages of Management Accounting: v. Limitations of Management Accounting: vi. Tools and Techniques: III. INTRODUCTION TO FINANCIAL RATIOS 8 i. Financial Ratio Analysis: ii. Users of Accounting Information: IV. DESCRIPTION AND DETAIL OF THE COMPANY – SRI LANKA
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Chapter 3 RESEARCH METHODOLOGY Introduction In this chapter the research methodology used in the study is described. The geographical area where the study was conducted the study design and the population and sample are described. The instrument used to collect the data‚ including methods implemented to maintain validity and reliability of the instrument‚ are described. Research Approach and Design Denzin and Lincoln (2000) suggest a different‚ more complex definition. Their definition‚ which
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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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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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Business Ethics in Managerial Accounting When companies don’t see the importance of business ethics in managerial accounting they usually end up down the same road as Enron: bankrupt. And while that isn’t always true‚ the importance of business ethics in managerial accounting cannot be understated if you want your company to be a success. Why Ethics Is Important in Managerial Accounting The Enron scandal is probably the most well-known example of improper accounting ethics on the part
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CHAPTER 3 Research methodology 3.1 INTRODUCTION This chapter deals with the research methodology of the study‚ including the research design‚ setting‚ population‚ sample and data-collection instrument. 3.2 RESEARCH DESIGN Polit and Hungler (1999:155) describe the research design as a blueprint‚ or outline‚ for conducting the study in such a way that maximum control will be exercised over factors that could interfere with the validity of the research results. The research design
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company. Managerial accounting is primarily used by individuals within a company or organization. The main purpose of financial accounting is to prepare financial reports that provide information about an organization’s performance to external parties like creditors‚ investors and tax authorities (Hilton‚ 2006). There are several key differences between both managerial and financial accounting. The first key difference is in the purpose of each method. For example‚ managerial accountings’ purpose
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