Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“If you were considering giving[…]
Read moreCategory: Accounting
Identify the following characteristics as primarily related to financial accounting (FA) or managerial accounting (MA):1. Helps Creditors make lending decisions2. Helps in planning and controlling operations3. Is not required to follow GAAP4. Has a focus on the future5. Summary reports prepared quarterly or annually
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Identify the following characteristics as[…]
Read more“DEF Manufacturing Company has the following data for 2017 (amounts in millions):Raw Materials Inventory, January 1: $10Raw Materials Inventory, December 31: $12Work-in-Process Inventory, January 1: $16Work-in-Process Inventory, December 31: $20Finished Goods Inventory, January 1: $14Finished Goods Inventory, December 31: $16Raw Materials Purchased, including Freight In: $34Direct Labor: $45Manufacturing Overhead: $23Prepare the schedule of cost of goods manufactured and the cost of goods sold section of the income statement for the year ended December 31, 2017.”
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“DEF Manufacturing Company has the[…]
Read moreInitially recorded as an inventory asset if the product has not yet been sold. It is changed to COGS as soon as the product is sold and is an expense on the income statement.
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Initially recorded as an inventory[…]
Read moreWhich is not a characteristic of management accounting information?A) Focuses on the futureB) Emphasizes relevanceC) Provides detailed information about individual parts of the companyD) Emphasizes the external financial statements
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Which is not a characteristic[…]
Read moreNow prepare the schedule of cost of goods sold.(for question above)
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Now prepare the schedule of[…]
Read moreCosts that are taken directly to the income statement as expenses in the period in which they are incurred or acrrued
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Costs that are taken directly[…]
Read more“World-class businesses use which of these systems to integrate all of a company’s worldwide functions, departments, and data into a single system?A. Just-in-time managementB. Cost standardsC. Enterprise resource planning D. Items a, b, and c are correct.”
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“World-class businesses use which of[…]
Read more“Which of the following characteristics are primarily related to managerial accounting? (check all that apply)A. A main concern is providing adequate disclosures to external usersB. The primary users of accounting information are investors, creditors, and government authoritiesC. Detailed accounting reports on parts of the company prepared on a daily or weekly basisYour answer is correct.D. The focus is on planning and controlling operations”
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Which of the following characteristics[…]
Read more“Common examples include: direct materials, direct labor, variable elements of selling/administrative expenses”
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Common examples include: direct materials,[…]
Read more