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Decision Making Extra Credit 1. Another name for relevant cost is avoidable cost a. True b....
Answer these following questions: 1. Only variable costs can be relevant or differential cost A. True...
Answer these following questions: 1. Only variable costs can be relevant or differential cost A. True B. False 2. Fixed Costs which change with a decisions are relevant A. True B. False 3. Sunk costs are always relevant to decisions A. True B. False 4. In incremental analysis, total fixed costs will always remain constant A. True B. False 5. A special order should not be accepted if the sales price is less than the unit variable cost. A. B....
3 Multiple choice questions, Thank you! (20-23) Interest is the borrower's payment to the owner of...
3
Multiple choice questions, Thank you! (20-23)
Interest is the borrower's payment to the owner of an asset, for its use. True or False True False Employee morale, timeliness of delivery, and the reactions of customers are examples of nonfinancial factors that should be considered when making a managerial decision True or False True False A company needs to have $100,000 in 5 years, and will create a fund to insure that the $100.000 will be available. If it can...
14. A company is within plant capacity. It is contemplating whether a special order should be...
14. A company is within plant capacity. It is contemplating whether a special order should be accepted. The order will not impact regular sales. If the company accepts the special order, what will occur? A) Incremental costs will not be affected. B) Net Income will increase if the special sales price per unit exceeds the unit variable costs. C) There are no incremental revenues. D) Both fixed and variable costs will increase. 15. A major accounting contribution to the managerial...
A. Management's Decision-Making Process. 1. The steps are: a. b. c. d. 2. Accounting's contribution to...
A. Management's Decision-Making Process. 1. The steps are: a. b. c. d. 2. Accounting's contribution to the decision-making process occurs primarily in what steps? B. Incremental Analysis. 1. 2. 3. Incremental analysis sometimes involves changes that might seem contrary to your intuition. For example, sometimes: a. b. Accept an order at a special price. 4. a. b. c. a. 5. Make or buy. In a make or buy decision, the relevant costs are: (1) (2) (3) 6. Sell or process...
Kindly provide an explanation as to what are the main concepts pertaining to arriving at relevant...
Kindly provide an explanation as to what are the main concepts pertaining to arriving at relevant costing and discuss how these principles might apply to a manufacturing company. Answer: A relevant cost is a current or future cost that will differ among alternatives. For example, relevant cost of material is the raw material cost that needs to be considered while taking a managerial decision. Relevant cost of material may be in the form of incremental cash flows or opportunity cost....
Instructions: Choose the best answer (True or False) for record a "T" for True or a...
Instructions: Choose the best answer (True or False) for record a "T" for True or a "F" for False corresponding letters on the line to the lef "A" for True or a "B" for False on the SCANTRON sheet for rows 16 thru 50 21. In incremental analysis, total variable costs will always change under alternative courses of action, and total fixed costs will always remain constant. Decision-making involves choosing among altemative courses of action. 22. 23. A special one-time...
Name Adrian Perez Test 2 Accounting 202 Chapters 19,20,21,22 True / False 1 point 1. An...
Name Adrian Perez Test 2 Accounting 202 Chapters 19,20,21,22 True / False 1 point 1. An activity index identifies the activity that has a causal relationship with a particular cost. 2. 3. 4. A variable cost remains constant per unit at various levels of activity. A fixed cost remains constant in total and on a per unit basis at various levels of activity I volume increases, all costs will increase. 5. 6. If the activity index decreases, total variable costs...
Question C.1 (12 Marks) Define relevant costs. Why are historical costs irrelevant? a. b. Distinguish between quantitative and qualitative factors in decision making. Why are qualitative factors...
Question C.1 (12 Marks) Define relevant costs. Why are historical costs irrelevant? a. b. Distinguish between quantitative and qualitative factors in decision making. Why are qualitative factors important in decision making? Sunny Inc. produces 40 000 MP3 Players each month. The market price per MP3 Player is $40. The following data is relevant to MP3 Players' production and sales in November 2018 c. Direct material costs S389 870 Direct labor costs S265 900 Variable manufacturing overhead costs S224 230 Variable...
please fill out bottom 3 pictures UR KNOWLEDGE 1. Business Decision Case The following total cost...
please fill out bottom 3 pictures
UR KNOWLEDGE 1. Business Decision Case The following total cost data are for Ralston Manufacturing Company, which has a normal capacity per period of 400,000 units of product that sell for $18 each. For the foreseeable future, regular sales volume should continue at normal capacity of production. 4:43 PN 9/13/20 Direct materials. Direct labor. Variable overhead Fixed overhead (Note 1). Selling expense (Note 2) Administrative expense (fixed) $1,720,000 1,120,000 560,000 880,000 720,000 200,000 $5,200,000...
1. The plans of management are expressed formally in: A. the annual report to shareholders. B....
1. The plans of management are expressed formally in: A. the annual report to shareholders. B. Form 10-Q submitted to the Securities and Exchange Commission. C. performance reports. D. budgets. 2. Which of the following statements is correct? A. Managerial accounting is focused on precision. B. Managerial accounting is concerned with companywide reports. C. Managerial accounting conforms to GAAP D. Managerial accounting is not mandatory 3. Managerial accounting is concerned with: A. reporting financial information to stockholders. B. reporting financial...
Answer these following questions: 1. Only variable costs can be relevant or differential cost A. True B. False 2. Fixed Costs which change with a decisions are relevant A. True B. False 3. Sunk costs are always relevant to decisions A. True B. False 4. In incremental analysis, total fixed costs will always remain constant A. True B. False 5. A special order should not be accepted if the sales price is less than the unit variable cost. A. B....
3
Multiple choice questions, Thank you! (20-23)
Interest is the borrower's payment to the owner of an asset, for its use. True or False True False Employee morale, timeliness of delivery, and the reactions of customers are examples of nonfinancial factors that should be considered when making a managerial decision True or False True False A company needs to have $100,000 in 5 years, and will create a fund to insure that the $100.000 will be available. If it can...
14. A company is within plant capacity. It is contemplating whether a special order should be accepted. The order will not impact regular sales. If the company accepts the special order, what will occur? A) Incremental costs will not be affected. B) Net Income will increase if the special sales price per unit exceeds the unit variable costs. C) There are no incremental revenues. D) Both fixed and variable costs will increase. 15. A major accounting contribution to the managerial...
A. Management's Decision-Making Process. 1. The steps are: a. b. c. d. 2. Accounting's contribution to the decision-making process occurs primarily in what steps? B. Incremental Analysis. 1. 2. 3. Incremental analysis sometimes involves changes that might seem contrary to your intuition. For example, sometimes: a. b. Accept an order at a special price. 4. a. b. c. a. 5. Make or buy. In a make or buy decision, the relevant costs are: (1) (2) (3) 6. Sell or process...
Instructions: Choose the best answer (True or False) for record a "T" for True or a "F" for False corresponding letters on the line to the lef "A" for True or a "B" for False on the SCANTRON sheet for rows 16 thru 50 21. In incremental analysis, total variable costs will always change under alternative courses of action, and total fixed costs will always remain constant. Decision-making involves choosing among altemative courses of action. 22. 23. A special one-time...
Name Adrian Perez Test 2 Accounting 202 Chapters 19,20,21,22 True / False 1 point 1. An activity index identifies the activity that has a causal relationship with a particular cost. 2. 3. 4. A variable cost remains constant per unit at various levels of activity. A fixed cost remains constant in total and on a per unit basis at various levels of activity I volume increases, all costs will increase. 5. 6. If the activity index decreases, total variable costs...
Question C.1 (12 Marks) Define relevant costs. Why are historical costs irrelevant? a. b. Distinguish between quantitative and qualitative factors in decision making. Why are qualitative factors important in decision making? Sunny Inc. produces 40 000 MP3 Players each month. The market price per MP3 Player is $40. The following data is relevant to MP3 Players' production and sales in November 2018 c. Direct material costs S389 870 Direct labor costs S265 900 Variable manufacturing overhead costs S224 230 Variable...
please fill out bottom 3 pictures
UR KNOWLEDGE 1. Business Decision Case The following total cost data are for Ralston Manufacturing Company, which has a normal capacity per period of 400,000 units of product that sell for $18 each. For the foreseeable future, regular sales volume should continue at normal capacity of production. 4:43 PN 9/13/20 Direct materials. Direct labor. Variable overhead Fixed overhead (Note 1). Selling expense (Note 2) Administrative expense (fixed) $1,720,000 1,120,000 560,000 880,000 720,000 200,000 $5,200,000...
1. The plans of management are expressed formally in: A. the annual report to shareholders. B. Form 10-Q submitted to the Securities and Exchange Commission. C. performance reports. D. budgets. 2. Which of the following statements is correct? A. Managerial accounting is focused on precision. B. Managerial accounting is concerned with companywide reports. C. Managerial accounting conforms to GAAP D. Managerial accounting is not mandatory 3. Managerial accounting is concerned with: A. reporting financial information to stockholders. B. reporting financial...
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