CHAPTER 1 Managerial Accounting ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives *1. Explain the distinguishing features of managerial accounting. Identify the three broad functions of management. Define the three classes of manufacturing costs. Distinguish between product and period costs. Explain the difference between a merchandising and a manufacturing income statement. Indicate how cost of goods manufactured is determined. Explain the difference
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sports. Have you ever thought of the long term affects when becoming a sports fan. People watch sports to get away from the world for 2 hours‚ bond with friends‚ and even getting away from annoying significant others. Sports today has changed my life significantly because of how passionate and dedicated I am to all sports fans. Also‚ when being a sports fan you can meet amazing people with the same interest as you in a random sports bar. When watching sports it tends to be enjoyable no matter the outcome
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Unit 7 week 7 Homework NT1110 How has CMOS memory changed over the years? CMOS really hasn’t changed very much from what I could find on the internet… Mainly the speeds have increased and the noise has been reduced it also went from analog to digital. Originally‚ the IBM PC only used of a small portion of CMOS memory and the balance of the 64 bytes were left undefined. Once other manufacturers cloned the AT form factor it wasn’t long that other areas of the CMOS was used by various BIOS manufacturers
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Benedictine University MBA 601 Managerial Accounting Final Project (paper) Outsourcing In today’s business environment‚ outsourcing becomes more and more popular and important for all kind of companies because more and more companies realized the benefits of outsourcing. Outsourcing is the process by which the company contracts to another one to supply some goods and services. Outsourcing is not only used in the domestic business‚ but also used in the international business that is the offshoring
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Managerial Accounting Reality Check Summaries Professor Shin Hee-Lim Shin 1001006 Reality Check – What’s your blog’s ROI? Summary ROI has been always one of the important factors to determine how profitable the business is doing. However‚ for until last few decades‚ ROI was only implementing to evaluate the hard assets like buildings and equipment. But in nowadays‚ many companies are using ROI to evaluate the investment in technology‚ such as blog. As a following example‚ it shows that
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The role of the Navy has changed over time because of technology but several aspects of sea power remain relevant today. Historical naval forces roles included protecting commerce and defeating enemy navies. Now naval forces roles focus on power projection‚ supporting ground and air forces‚ and defeating enemy naval forces. The changes in roles and technology have affected how naval forces are configured‚ available firepower and where they can deploy but with minimal changes of how they are deployed
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the many years of war there has always been a need to create new technological advancements in order to have better and more efficient ways to take on offensive and defensive approaches. During the first wars‚ making guns more effective was the main objective‚ but as wars started becoming larger scale total wars‚ the need for bigger equipment was crucial. One of the most significant advancements that completely changed warfare was the creation of airplanes. Man has always had the dream to fly and
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1. Basic Concepts Product cost = Direct Labor (DL) + Direct Materials (DM) + Manufacturing Overhead (MOH) Financial accounting Managerial Accounting + Sales + Sales - COGS - Variable Costs = Gross Profit = Contribution Margin - SG&A - Fixed Costs = Net Profit = Net Profit COGS (Cost of Goods Sold) is an “inventoriable cost” ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold SG&A (Selling‚ General & Administrative) are
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Importance of 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
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Chapter 1 1. Waverly Company paid $5‚000 cash for wages of production workers. This business event would: a. increase total assets and total equity. b. increase one asset account and decrease another asset account. c. decrease total assets and total equity. d. decrease one asset account and increase an equity account. 2. Warren Company makes candy. During the most recent accounting period‚ Warren paid $3‚000 for raw materials‚ $4‚000 for labor‚ and $2‚000 for overhead
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