Acct 23 Study guides, Class notes & Summaries

ACCT 2311 FINAL CH 1-11 TEST BANK ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ACCT 2311 FINAL CH 1-11 TEST BANK ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS

Ch 23: Relevant Costing for Managerial Decisions Homework 1 1. Gilberto Company currently manufactures 68,000 units per year of one of its crucial parts. Variable costs are $2.10 per unit, fixed costs related to making this part are $78,000 per year, and allocated fixed costs are $65,000 per year. Allocated fixed costs are unavoidable whether the company makes or buys the part. Gilberto is considering buying the part from a supplier for a quoted price of $3.35 per unit guaranteed for a thr...

Ch 23: Relevant Costing for Managerial Decisions Homework 1 1. Gilberto Company currently manufactures 68,000 units per year of one of its crucial parts. Variable costs are $2.10 per unit, fixed costs related to making this part are $78,000 per year, and allocated fixed costs are $65,000 per year. Allocated fixed costs are unavoidable whether the company makes or buys the part. Gilberto is considering buying the part from a supplier for a quoted price of $3.35 per unit guaranteed for a thr...

1. Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2019–2013 ($ thousands) Sales $2,839 $2,487 $2,263 $2,074 $1,935 $1,800 $1,475 Cost of goods sold 2,042 1,661 1,429 1,251 1,162 1,087 866 Gross profit 713 609 Operating expenses 275 229 Net income $ 189 $ 350 $ 398 $ 501 $ 494 $ 438 $ 380 HAROUN COMPANY Comparative Balance Sheets December 31, 2019–2013 ($ thousands) Assets Cash ...

1. Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2019–2013 ($ thousands) Sales $2,839 $2,487 $2,263 $2,074 $1,935 $1,800 $1,475 Cost of goods sold 2,042 1,661 1,429 1,251 1,162 1,087 866 Gross profit 713 609 Operating expenses 275 229 Net income $ 189 $ 350 $ 398 $ 501 $ 494 $ 438 $ 380 HAROUN COMPANY Comparative Balance Sheets December 31, 2019–2013 ($ thousands) Assets Cash ...

1. Selected comparative financial statements of Haroun Company follow. HAROUN COMPANY Comparative Income Statements For Years Ended December 31, 2019–2013 ($ thousands) Sales $2,839 $2,487 $2,263 $2,074 $1,935 $1,800 $1,475 Cost of goods sold 2,042 1,661 1,429 1,251 1,162 1,087 866 Gross profit 713 609 Operating expenses 275 229 Net income $ 189 $ 350 $ 398 $ 501 $ 494 $ 438 $ 380 HAROUN COMPANY Comparative Balance Sheets December 31, 2019–2013 ($ thousands) Assets Cash ...

ACCT 2301 EXAM 2 TEST BANK

Ch 14 Managerial Accounting Concepts and Principles Homework 1 1. Listed here are product costs for the production of soccer balls. Identify each cost (a) as either fixed or variable and (b) as either direct or indirect by selecting the appropriate dropdowns. 2. Listed below are costs of providing an airline service. Classify each cost as (a) either variable or fixed, and (b) either direct or indirect by selecting the appropriate dropdowns. Consider the cost object to be a flight. Flight ...

Ch 14 Managerial Accounting Concepts and Principles Smartbook 1 1. The main purpose of both financial and managerial accounting is similar in that both aim to provide relevant information to its users. True 2. Managerial accounting has which of the following characteristics? Emphasis on projects, processes, and divisions Monetary and nonmonetary information Internal users 3. Managerial accounting is different from financial accounting in that: managerial accounting is used in planning a...

Ch 14 Managerial Accounting Concepts and Principles Homework 1 1. Listed here are product costs for the production of soccer balls. Identify each cost (a) as either fixed or variable and (b) as either direct or indirect by selecting the appropriate dropdowns. 2. Listed below are costs of providing an airline service. Classify each cost as (a) either variable or fixed, and (b) either direct or indirect by selecting the appropriate dropdowns. Consider the cost object to be a flight. Flight ...