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
Premium Time Corporation Economics
is: Analysis Period amount/Base Period Amount x100 9. One of several ratios that reflects solvency includes the: Debt-to-equity ratio 10. Current assets divided by current liabilities is the: Current Ration 11. Ch.18 Managerial accounting is different from financial accounting in that: (users and decision makers‚ purpose of info‚ flexibility of practice‚ timeliness of information‚ time decision‚ focus of information‚ nature of information) 12. Which of the following items are management concepts
Premium Variable cost Costs Fixed cost
CHAPTER 4 PROBLEMS Q(4-1): Explain the primary difference between job-order and process costing ? Job-order costing * Costs accumulated by the job. * Work in process has a job-cost sheet for each job. * Many unique‚ high cost jobs. * Jobs built to customer order. Process costing * Costs accumulated by department or process. * Work in process has a production report for each batch of products. * A few identical‚ low cost products. *
Premium Costs Cost Cost accounting
job’s cost according to the accounting system? 5. Direct labor made up $8‚000 of the $40‚000 ending Work in Process inventory balance. Supply the information missing below: Direct materials . . . . . . . . . . . . . . . $ ? Direct labor . . . . . . . . . . . . . . . . . . . 8‚000 Manufacturing overhead . . . . . . . . . ? Work in process inventory . . . . . . . $40‚000 SOLUTION: 1. a. [pic]
Premium Manufacturing Supply chain management terms Inventory
Chapter 10 Study Notes Standard: a benchmark or ‘norm’ for measuring performance (what we expect to happen).Using these standards we have Quantity and Price Standards. Quantity Standards: how much of an input should be used in manufacturing a unit of product or in providing a unit of service (similar to a cook recipe: list of items and how much to use) Cost (Price) Standards: the cost (purchase price) of the units should be (how much we expect to pay for a particular item) Management
Premium Variable cost Costs Fixed cost
Student Answer: Choice A. Choice B. Choice C. Choice D. Instructor Explanation: Chapter 3 Points Received: 0 of 5 Comments: Question 2. Question : (TCO F) Process costing would be appropriate for each of the following except: Student Answer: custom furniture manufacturing. oil refining. grain milling. newsprint production. Instructor Explanation: Chapter 4 Points Received: 5 of 5 Comments: Question 3. Question : (TCO F) Unizat Corporation uses the
Premium Inventory Supply chain management terms Costs
“Lecture Preparation Instructions” tab in Vista prior to each class for detailed instructions and reading assignments. Each lecture will require preparation. Identify Issues Analyze Data Build Model Run Model Make Decision Management Accounting: Decision-making The Corporate Environment: Corporations are a conglomeration of people with a common purpose. The individuals seek to attain goals for the corporation‚ with the ultimate goal being profitability. In order to achieve this
Premium Costs Fixed cost Variable cost
TEST BANK CHAPTER 1 Intercorporate Investments: An Overview MULTIPLE CHOICE Use the following information on a company’s investments in equity securities to answer questions 1- 4 below. The company’s accounting year ends December 31. | |Date of acquisition|Cost |Fair value |Date sold |Selling price | |Investment | | |12/31/10 | |
Premium Balance sheet Generally Accepted Accounting Principles Asset
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? Solution: Based on the given info we calculate Overhead Allocation Rate =Overhead for PeriodAllocation Base for Period for each allocation bases vis. Sales‚ Direct Material and Direct Labor Year | 1987 | 1988 | 1989 | 1990 | Sales | $330‚154 | $351
Premium Marketing
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
Premium Manufacturing Supply chain management terms Inventory