Preview

Managerial Accounting In The Military

Satisfactory Essays
Open Document
Open Document
171 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Managerial Accounting In The Military
Thanks for the great post this week. Being in the military as well, I understand where you are coming from related to financial management, accounting, and budgeting. Although the military has its own unique way of budgeting and expending funds, the tenets of this course will serve us both well in our military careers. I especially agree with you that the principles of managerial accounting will serve us well as much of what we do regarding budgets is analyzing information, and making financial decisions for the future.

Regarding your comments on ethics, I totally agree that being a leader and setting a proper ethical example is paramount. We have all seen many examples over the years of senior military and civilian

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Managerial Accounting

    • 628 Words
    • 3 Pages

    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 costs that were incurred to make candy. Warren started and completed 10,000 units of candy, of which 7,000 were sold. Based on this information, Warren would recognize which of the following amounts of expense on the income statement?…

    • 628 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Managerial Accounting

    • 779 Words
    • 3 Pages

    Activity-based costing involves two allocation stages and includes a multitude of cost drivers. The first stage known as ABC assigns costs to pools; which signify the activities of the costs to be incurred. During the second stage the cost pools are allocated to products or cost objects by utilizing cost drivers that measure the object’s use of that activity.…

    • 779 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    References: Barnes, C. M., & Doty, J. (2010).What does contemporary science say about ethical leadership? Military Review, 90-93.…

    • 3042 Words
    • 13 Pages
    Powerful Essays
  • Satisfactory Essays

    Managerial Accounting

    • 448 Words
    • 2 Pages

    Chapter 3 Solutions, 3rd day Exercise 3-13 (15 minutes) 1. | Actual manufacturing overhead costs | | $ 48,000 | | Manufacturing overhead applied: 10,000 MH × $5 per MH | | 50,000 | | Overapplied overhead cost | | $ 2,000 | | | | | 2. | Direct materials: | | | | Raw materials inventory, beginning | $ 8,000 | | | Add: Purchases of raw materials | 32,000 | | | Raw materials available for use | 40,000 | | | Deduct: Raw materials inventory, ending | 7,000 | | | Raw materials used in production | | $ 33,000 | | Direct labor | | 40,000 | | Manufacturing overhead cost applied to work in process | | 50,000 | | Total manufacturing cost | | 123,000 | | Add: Work in process, beginning | | 6,000 | | | | 129,000 | | Deduct: Work in process, ending | | 7,500 | | Cost of goods manufactured | | $121,500 | | | | | Problem 3-24 (60 minutes) 1. a. b. | Actual manufacturing overhead costs: | | | Insurance, factory | $ 7,000 | | Depreciation of equipment | 18,000 | |…

    • 448 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Reducing the number of December advertising spots and increasing the number to be run in January.…

    • 1612 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Managerial Accounting

    • 808 Words
    • 4 Pages

    1. The overhead allocation rate used in the 1987 model year strategy study at the Automotive Component & Fabrication Plant (ACF) was 435% of direct labor dollar cost. Calculated the overhead allocation rate using the 1987 model year budget. Calculate the overhead allocation rate for each of the model years 1988 through 1990. Are the changes since 1987 in overhead allocation rates significant? Why have these changes occurred?…

    • 808 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Management Accounting

    • 660 Words
    • 3 Pages

    Marston Corporation manufactures disposable thermometers that are sold to hospitals through a network of independent sales agents located in the United States and Canada. The sales agents sell a variety of products to hospitals in addition to Marston’s disposable thermometer. The sales agents are currently paid an 18% commission on sales, and this commission rate was used when Marston’s management prepared the following budgeted income statement for the upcoming year. Marston Corporation Budgeted Income Statement Sales Cost of goods sold: Variable Fixed Gross margin Selling and administrative expenses: Commissions Fixed advertising expenses Fixed administrative expenses Net operating income $30,000,000 $17,400,000 2,800,000…

    • 660 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Implementation Plan Paper

    • 611 Words
    • 3 Pages

    The questions posed by the authors were for those that consider themselves ethical leaders what aspects did the value, how does one experiences determine how ethical a leader they are/…

    • 611 Words
    • 3 Pages
    Good Essays
  • Best Essays

    Patterson, J. G. (1995). In Keppler K. (Ed.), Benchmarking basics: Looking for a better way.…

    • 1330 Words
    • 6 Pages
    Best Essays
  • Satisfactory Essays

    Managerial Accounting

    • 380 Words
    • 2 Pages

    The reduction in downtime would have to have a present value of at least $11,816 in order for the project to be acceptable.…

    • 380 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Managerial Accounting

    • 2425 Words
    • 10 Pages

    The comparison of a company's financial condition and performance across time is known as: Horizontal Analysis…

    • 2425 Words
    • 10 Pages
    Powerful Essays
  • Powerful Essays

    Managerial Accounting

    • 2814 Words
    • 12 Pages

    COGS (Cost of Goods Sold) is an “inventoriable cost” ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold…

    • 2814 Words
    • 12 Pages
    Powerful Essays
  • Satisfactory Essays

    Managerial Accounting

    • 331 Words
    • 2 Pages

    b) If the logs were transferring to Sawing division at $61.50 per unit, the company as a whole would still be making profits. In the meantime, the Harvesting division manager might become less inclined to perform at maximum ability while each unit could have been sold externally for $75 per unit. The Sawing division manager would not be affected since the transfer costs from Harvesting division stays the same.…

    • 331 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    managerial accounting

    • 328 Words
    • 2 Pages

    Case 8-29 1. a. Sales budget: April May June Quarter Budgeted sales in units 35,000 45,000 60,000 140,000 Selling price per unit × $8 × $8 × $8 × $8 Total sales $280,000 $360,000 $480,000 $1,120,000 b. Schedule of expected cash collections: February sales $ 48,000 $ 48,000 March sales 112,000 $ 56,000 168,000 April sales 70,000 140,000 $ 70,000 280,000 May sales 90,000 180,000 270,000 June sales 120,000 120,000 Total cash collections $230,000 $286,000 $370,000 $ 886,000 c.…

    • 328 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Managerial Accounting

    • 366 Words
    • 2 Pages

    When I first began this course, I didn’t really understand what Managerial accounting for Business Professionals were. I was very confused and also a bit intimidated with what is expected and how is the professor going to be. In my previous classes I have had some professors who seem to not care about us students. I have felt often that since it’s an online environment they could answer whichever way they want because there isn’t anyone to meet face to face to speak. Professor, you have been a wonderful teacher and mentor for us. I couldn’t have asked for anyone better. Even though some of the weeks were challenging I was able to overcome them. What I enjoyed the most was the budgeting planning in Unit 6.I am always looking to grow within my job and department, so learning some other things and being able to speak with my peers about what I have learned enables me to show that I am eager to move up the ladder of success and get promoted. I think that the Wiley assignments were very educational and with the 5 chances that we were given to do the work, this really helped me analyze and truly learn how to solve a problem.…

    • 366 Words
    • 2 Pages
    Satisfactory Essays