Homework Answers
Matching the terms with corresponding description.
- A systematic examination of the differences in planned and actual operating results
D. Contribution marginal analysis
- The budgeting concept that requires managers to formulate budget data as if there had been no previous activity
L. Zero-based Budgeting
- The Effect of difference in unit sales price or unit cost on the number of units sold
A. Price Factor
- The budget summarizing future plans for acquisition of fixed assets
M. Capital expenditures budget
- Excess resources set within a budget to provide for uncertain events for improve the appearance of operations
G. Budgetary slack
- A portion of business that can be analyzed to determine the profitability
J. Market segment
- The effect of the difference in the number of units sold, assuming no change in unit sales price or unit cost
A. Quantity Factor
- An accounting device used to plan and control resources
B. Budget
- The reporting system that considers the costs of the products manufactured to be composed only of those manufacturing costs that increase or decrease with production volume
E. Absorption costing
- A condition that occurs when individual objectives vary from organisational objectives
F. Goal conflict
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QUESTION 14 Match the terms with the corresponding description of the term A systematic examination of...
Managerial Accounting - Chapters 8, 9, & 10 Review Sheet Know definitions of terms. 1. What...
Managerial Accounting - Chapters 8, 9, & 10 Review Sheet Know definitions of terms. 1. What is the first step in budget preparation? 2. What are the benefits of budgeting? What is the format for determining budgeted production needs? What is the format for determining the budget raw materials that should be purchased? 4. If total costs of an account billing activity center is $250,000. Cost behavior analysis indicates that fixed costs are $50,000. Activity analysis indicates that the cost...
Breve than ot try to KEY TERMS TED on into food and are compon planned and...
Breve than ot try to KEY TERMS TED on into food and are compon planned and actual expenditures Test your recall of the assistance. If you need 1. Ain) BUDEL 2. Ain) convenis provides mor e 3. The usually involving at least five years. need as farms as follows. Try to recall as many key terms as possible without assistance, refer to the list of the terms at the end of this section is a plan of action expressed in...
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Namen Morgen MATCHING Match the letter of each term or concept that corresponds with the explanations that follow Main product A Activity based costing system Activity driver H on value added activities By product Production budget cash budget Sales budget Joint cost K Split off point oint product C D E F 1 Budget that describes expected sales in units and dollars for the coming periods 2 Two or more products, each having relatively substantial value, that are produced simultaneously...
Need help answering e, f, and g . FLEXIBLE BUDGETING AND COST OF GOODS SOLD SCHEDULES....
Need help answering e, f, and g
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7. Despite Break-even analysis is a useful tool to find out the break-even point, it has...
7. Despite Break-even analysis is a useful tool to find out the break-even point, it has a number of assumptions. Which of the following is incorrect? Course teacher: Steve Lam Course Assessment 3 A Total costs and total revenues do not have linear functions of output B Assuming costs can be classified into either fixed or variable elements C The analysis only considers the decision at the relevant range D Volume is the only factor affecting costs, and all other...
Pleae answer with proper calculation and table line tqvm Gates Technologies LTD. Makes and sells one...
Pleae answer with proper calculation and table line
tqvm
Gates Technologies LTD. Makes and sells one product, which has the following standard variables production costs per unit Direct Material cost (2KG at $10 per kg) Direct Labour cost (4 hours at $ 15 per hour) Variables production overhead cost ($3 per labour hour) 20 60 12 The budgeted selling price per unit is $150, and the production and sales budget for the coming this year are as follows: Production in...
plz solve step by step Question #9 Flexible budget for a product as prepare by Anchor...
plz solve step by step
Question #9 Flexible budget for a product as prepare by Anchor Ltd, is given below: 15,000 Rs. 1.200,000 20,000 Rs. 1,600,000 Sales - unit 10,000 Rs. Sales 800,000 Manufacturing cost: Variable 300,000 Fixed 200,000 Total manufacturing cost 500,000 Marketing and other expenses Variable 200,000 Fixed 160,000 Total Marketing and other expense 360,000 Operating income / (loss) (60,000) 450,000 200,000 650,000 600,000 200,000 800,000 300,000 160,000 460,000 90,000 400,000 160,000 560,000 240,000 Additional information: • The...
Question 2 (CVP Analysis) (14 marks) ohan Company's typical yearly production and sale data are as...
Question 2 (CVP Analysis) (14 marks) ohan Company's typical yearly production and sale data are as given: The following date is based on the production and sale of 6,000 units of their main product. $120.00 per unit Selling price per unit Cost of goods sold: $10.00 per unit $20.00 per unit $10.00 per unit $15.00 per unit Variable Manufacturing Overhead.... $55,00 per unit _ ..65.00 per unit ..._. Gross Profit Margin Operating Costs $12.00 per unit $15.00 per unit $18.00...
BUS313 CH 8, 10, 11 30. A significant difference between the direct material purchases budget and...
BUS313 CH 8, 10, 11 30. A significant difference between the direct material purchases budget and the direct labor budget is that the direct material purchases budget A) considers beginning and ending inventory amounts, which are not part of the direct labor budget. B) is constructed for each quarter, while the direct labor budget is constructed for each pay period. C) is based on units sold, while the direct labor budget is based on units produced. D) is constructed from...
12. Key motivational factors in budgeting do not include a. Training in the budget process b....
12. Key motivational factors in budgeting do not include a. Training in the budget process b. Correct identification of the blame for below budget performancse C The setting of fair, achievable standards The feedback of information 13. What is a flexible budget? a. A budget that does not change through the budget period b. A budget that shows a detailed of expected sales A budget that does not change as volume changers d.) A budget that adjusts for changes in...
Managerial Accounting - Chapters 8, 9, & 10 Review Sheet Know definitions of terms. 1. What is the first step in budget preparation? 2. What are the benefits of budgeting? What is the format for determining budgeted production needs? What is the format for determining the budget raw materials that should be purchased? 4. If total costs of an account billing activity center is $250,000. Cost behavior analysis indicates that fixed costs are $50,000. Activity analysis indicates that the cost...
Breve than ot try to KEY TERMS TED on into food and are compon planned and actual expenditures Test your recall of the assistance. If you need 1. Ain) BUDEL 2. Ain) convenis provides mor e 3. The usually involving at least five years. need as farms as follows. Try to recall as many key terms as possible without assistance, refer to the list of the terms at the end of this section is a plan of action expressed in...
Namen Morgen MATCHING Match the letter of each term or concept that corresponds with the explanations that follow Main product A Activity based costing system Activity driver H on value added activities By product Production budget cash budget Sales budget Joint cost K Split off point oint product C D E F 1 Budget that describes expected sales in units and dollars for the coming periods 2 Two or more products, each having relatively substantial value, that are produced simultaneously...
Need help answering e, f, and g
. FLEXIBLE BUDGETING AND COST OF GOODS SOLD SCHEDULES. Damp Less makes room dehumidifiers. It buys the electronic parts to make the dehumidifiers in kits, so it only purchases metal for the casings and the electronic kitted parts. Assembly is done in its one plant located in the Midwest. The company wants to put together a cost of goods sold set of budget schedules so it can plan its labor and materials purchases...
7. Despite Break-even analysis is a useful tool to find out the break-even point, it has a number of assumptions. Which of the following is incorrect? Course teacher: Steve Lam Course Assessment 3 A Total costs and total revenues do not have linear functions of output B Assuming costs can be classified into either fixed or variable elements C The analysis only considers the decision at the relevant range D Volume is the only factor affecting costs, and all other...
Pleae answer with proper calculation and table line
tqvm
Gates Technologies LTD. Makes and sells one product, which has the following standard variables production costs per unit Direct Material cost (2KG at $10 per kg) Direct Labour cost (4 hours at $ 15 per hour) Variables production overhead cost ($3 per labour hour) 20 60 12 The budgeted selling price per unit is $150, and the production and sales budget for the coming this year are as follows: Production in...
plz solve step by step
Question #9 Flexible budget for a product as prepare by Anchor Ltd, is given below: 15,000 Rs. 1.200,000 20,000 Rs. 1,600,000 Sales - unit 10,000 Rs. Sales 800,000 Manufacturing cost: Variable 300,000 Fixed 200,000 Total manufacturing cost 500,000 Marketing and other expenses Variable 200,000 Fixed 160,000 Total Marketing and other expense 360,000 Operating income / (loss) (60,000) 450,000 200,000 650,000 600,000 200,000 800,000 300,000 160,000 460,000 90,000 400,000 160,000 560,000 240,000 Additional information: • The...
Question 2 (CVP Analysis) (14 marks) ohan Company's typical yearly production and sale data are as given: The following date is based on the production and sale of 6,000 units of their main product. $120.00 per unit Selling price per unit Cost of goods sold: $10.00 per unit $20.00 per unit $10.00 per unit $15.00 per unit Variable Manufacturing Overhead.... $55,00 per unit _ ..65.00 per unit ..._. Gross Profit Margin Operating Costs $12.00 per unit $15.00 per unit $18.00...
BUS313 CH 8, 10, 11 30. A significant difference between the direct material purchases budget and the direct labor budget is that the direct material purchases budget A) considers beginning and ending inventory amounts, which are not part of the direct labor budget. B) is constructed for each quarter, while the direct labor budget is constructed for each pay period. C) is based on units sold, while the direct labor budget is based on units produced. D) is constructed from...
12. Key motivational factors in budgeting do not include a. Training in the budget process b. Correct identification of the blame for below budget performancse C The setting of fair, achievable standards The feedback of information 13. What is a flexible budget? a. A budget that does not change through the budget period b. A budget that shows a detailed of expected sales A budget that does not change as volume changers d.) A budget that adjusts for changes in...
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