You are watching: Managerial accounting is different from financial accounting in that quizlet
Under a just-in-time production mechanism, huge amounts of inventory aregathered throughout the factory to be specific that components are available eachtime that they are required.
Cost ideas such as variable, addressed, combined, direct, and indirect use just tomanufacturers and also not to business carriers.
Which of the following items does not reexisting a distinction between financial andmanagerial accounting?A) Users of the indevelopment.B) Focus of the information.C) Managerial audit does not use the financial indevelopment from the financialaudit device.D) Flexibility of reporting.E) Timeliness of indevelopment.
Managerial accounting is different from financial accounting in that:A) Managerial audit consists of many projections and also estimates whereasfinancial accountancy has a minimum of predictions.B) Managerial accounting is greatly supplied to collection stock prices.C) Managerial accounting is more focused on the organization overall andfinancial bookkeeping is even more focused on subdivisions of the company.D) Managerial bookkeeping is offered broadly by investors, whereas financialaudit is offered only by creditors.E) Managerial accountancy never has nonfinancial information.
Last year, Wesson Company marketed 10,000 devices of its only product. If sales decrease by15% in the current year, exactly how will unit variable cost and also unit resolved cost be affected?Unit Variable Cost Unit Fixed CostA) Remains constant Remains constantB) Increases DecreasesC) Decreases Remains constantD) Remains continuous DecreasesE) Remains consistent IncreasesA) Choice EB) Choice DC) Choice CD) Choice AE) Choice B
7) Last year, Gordon Company type of marketed 20,000 units of its only product. If sales decrease by20% in the current year, exactly how will certainly unit variable expense and complete addressed price be affected?Unit Variable Cost Total Fixed CostA) Remains constant Remains constantB) Increases DecreasesC) Decreases Remains constantD) Remains continuous DecreasesE) Remains continuous IncreasesA) Choice EB) Choice CC) Choice DD) Choice AE) Choice B
Costs that flow directly to the income statement as expenses are called:A) Period prices.B) Capitalized expenses.C) General costs.D) Balance sheet prices.E) Product prices.
Costs that are capitalized as inventory as soon as they are incurred are called:A) Period costs.B) Fixed costs.C) Administrative prices.D) Product prices.E) General expenses.
The predetermined overhead price based on direct labor expense is the proportion of estimatedoverhead price to approximated straight labor expense for the period.
In comparichild to a general accounting mechanism, a price audit mechanism for amanufacturing firm locations an emphasis on:A) Large volume operations entailing standardized commodities.B) Continually updating prices of products, job-related in process, and finimelted goodsinventories.C) Total costs.D) Products and average prices.E) Periodic inventory counts.
A job expense sheet includes:A) Direct labor, actual overhead, selling costs.B) Direct product, straight labor, used overhead.C) Direct materials, straight labor, marketing expenses.D) Direct products, direct labor, operating prices.E) Direct products, estimated overhead, bureaucratic costs.
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The two basic forms of price audit systems are:A) Job order costing and also procedure costing.B) Job order costing and also perpetual costing.C) Job order costing and customized product costing.D) Job order costing and also periodic costing.E) Job order costing and customized business costing.
Intermediate Accounting, Binder Ready Version1sixth EditionDonald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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