x
Info
x
Warning
x
Danger

Accounting Expert Answers & Study Resources : Page 132

The vast field of accounting contributes to one of the largest subjects in our study resources. Accounting flashcards, homework answers for textbooks & other learning aids can increase your competency in this domain instantly. Become a top student with our support. Search Now…

Expert Answers

Ask an Expert

Our Experts can answer your tough homework and study questions.

Answers in as fast as 15 minutes
Post a Question
150428 Resources
0 Students Benefited

1.5   Distinguish among corporate governance, professional codes of conduct, ethics, and corporate social responsibility. 1) An accountant, as a member of a professional organization, must follow only those ethical requirements as are prescribed by the organization they belong to, such as the Society of Management Accountants of Canada. 2) CMAs are required.

Homework Answers
39 Views
  • 1.5   Distinguish among corporate governance, professional codes of conduct, ethics,
  • Accounting
Homework Answers
View Answer

21) ________ includes reporting and interpreting information that helps managers to focus on operating problems, imperfections, inefficiencies, and opportunities. A) Scorekeeping B) Control C) Problem-solving D) Planning E) Budgeting 22) Measuring and evaluating performance, and providing feedback are aspects of A) scorekeeping. B) information gathering. C) problem identification. D) record keeping. E) control. 23) Preparation of a monthly report comparing the actual.

Homework Answers
43 Views
  • 21) ________ includes reporting and interpreting information that helps managers
  • Accounting
Homework Answers
View Answer

29) Customer relationship management initiatives use technology to coordinate all A) production activities. B) research activities. C) customer-facing activities. D) inventory management activities. E) aspects of strategy implementation. 30) ________ describe(s) the flow of goods, services, and information from the purchase of materials to the delivery of products to consumers, regardless of whether those activities occur.

Homework Answers
48 Views
  • 29) Customer relationship management initiatives use technology to coordinate all A)
  • Accounting
Homework Answers
View Answer

16) The person(s) responsible for providing advice and assistance to line managers is/are A) the controller. B) the chief financial officer. C) staff management. D) the treasurer. E) the president. 17) Staff management includes A) manufacturing managers. B) human-resource managers. C) purchasing managers. D) distribution managers. E) sales persons. 18) The ________ is primarily responsible for the quality.

Homework Answers
52 Views
  • 16) The person(s) responsible for providing advice and assistance to
  • Accounting
Homework Answers
View Answer

11) If sales increase by $25,000, operating income will increase by A) $10,000. B) $15,000. C) $22,200. D) $12,500. E) $8,000. 12) Stephanie's Stuffed Animals reported the following: Revenues$1,000 Variable manufacturing costs$200 Variable nonmanufacturing costs$230 Fixed manufacturing costs$150 Fixed nonmanufacturing costs$140 Required: a.Compute contribution margin. b.Compute gross margin. c.Compute operating income. 13) Arthur's Plumbing reported the following: Revenues$4,500 Variable manufacturing costs$900 Variable nonmanufacturing.

Homework Answers
58 Views
  • 11) If sales increase by $25,000, operating income will increase
  • Accounting
Homework Answers
View Answer

56) Each of the following items pertains to one of these companies: Bedell Electronics (a manufacturing company), Gregory Food Retailers (a merchandising company), and Larson Real Estate (a service sector company). Classify each item as either inventoriable (I) costs or period (P) costs. inventoriable (I) costs or period (P) costs a. Salary of.

Homework Answers
47 Views
  • 56) Each of the following items pertains to one of
  • Accounting
Homework Answers
View Answer

58) Helmer Sporting Goods Company manufactured 100,000 units in 20X5 and reported the following costs: Sandpaper$32,000Leasing costs-plant$384,000 Materials handling320,000Amortization-equipment224,000 Coolants & lubricants22,400Property taxes-equipment32,000 Indirect manufacturing labour275,200Fire insurance-equipment16,000 Direct manufacturing labour2,176,000Direct material purchases3,136,000 Direct materials, 1/1/X5384,000Direct materials, 12/31/X5275,200 Finished goods, 1/1/X5672,000Sales revenue12,800,000 Finished goods, 12/31/X51,280,000Sales commissions640,000 Work-in-process, 1/1/X596,000Sales salaries576,000 Work-in-process, 12/31/X564,000Advertising costs480,000 Administration costs800,000 Required: a.What is the cost of direct materials used during.

Homework Answers
50 Views
  • 58) Helmer Sporting Goods Company manufactured 100,000 units in 20X5
  • Accounting
Homework Answers
View Answer

11) Corporate governance A) relates to the role of the corporate governor. B) comprises activities undertaken to ensure legal compliance with laws. C) is legislated by the federal government. D) relates only to the regulations provided by the Canadian Securities Administrators. E) is a voluntary system of compliance approved by each company's board of.

Homework Answers
42 Views
  • 11) Corporate governance A) relates to the role of the
  • Accounting
Homework Answers
View Answer

19) What is Montreal's cost of goods sold during the year? A) $260,000 B) $232,000 C) $220,000 D) $200,000 E) $240,000 20) Manufacturing-sector companies A) purchase materials and convert them to finished goods. B) buy goods and resell them. C) provide services or intangible products. D) have only period costs. E) have one classification of inventory. 21) Merchandising-sector companies A) purchase materials and.

Homework Answers
45 Views
  • 19) What Montreal's cost of goods sold during the year? A)
  • Accounting
Homework Answers
View Answer

52) Farley Muffler Inc. received the following monthly report from its newly hired accountant, who quit after only a week on the job. Farley Muffler Inc. Cost of Goods Sold Schedule Finished Goods Inventory (beginning)$15,000 Work-in-Process Inventory (beginning)   3,000 Total$18,000 Current Manufacturing Costs:   Salaries and wages: Direct manufacturing labour$5,000 Indirect manufacturing labour2,000 Sales salaries4,000 Administrative 3,000$14,000 Other: Manufacturing supplies$1,500 Manufacturing amortization3,500 Insurance on showroom1,000 Miscellaneous.

Homework Answers
46 Views
  • 52) Farley Muffler Inc. received the following monthly report from
  • Accounting
Homework Answers
View Answer

31) Which of the following is an indirect production cost? A) materials placed into production B) calibrating factory equipment C) labour placed into production D) cost of shipping a product to the customer E) advertising 32) Actual costs are defined as A) costs incurred. B) direct costs. C) indirect costs. D) predicted costs. E) sunk costs. 33) Whether a company traces costs.

Homework Answers
49 Views
  • 31) Which of the following an indirect production cost? A) materials
  • Accounting
Homework Answers
View Answer

  Answer the following question(s) using the information below. The Singer Company manufactures several different products. Unit costs associated with Product ICT101 are as follows: Direct materials $60 Direct manufacturing labour 10 Variable manufacturing overhead 18 Fixed manufacturing overhead 32 Sales commissions (2% of sales) 4 Administrative salaries     16        Total $140 39) What are the variable costs per unit associated with Product ICT101? A) $18.

Homework Answers
49 Views
  •   Answer the following question(s) using the information below. The Singer Company
  • Accounting
Homework Answers
View Answer

  3.1   Identify the essential elements of cost-volume-profit analysis and calculate the break-even point (BEP). 1) The contribution margin is computed by deducting all costs which vary on the basis of an output-related cost driver from revenues. 2) To perform cost-volume-profit analysis, a company must be able to separate costs into fixed and.

Homework Answers
51 Views
  •   3.1   Identify the essential elements of cost-volume-profit analysis and calculate
  • Accounting
Homework Answers
View Answer

28) Six uses of feedback are given below. Match each independent statement with one of the feedback uses. Uses of feedback: a.Changing goals. b.Changing how decision alternatives are identified. c.Changing managers. d.Changing the range of information collected in order to make predictions. e.Changing how the company operates. f.Changing reward systems. Independent Statements: 1.Quality control activities have been moved from.

Homework Answers
47 Views
  • 28) Six uses of feedback given below. Match each independent
  • Accounting
Homework Answers
View Answer

30) Blankinship, Inc., sells a single product. The company's most recent income statement is given below. Sales$200,000 Less variable expenses(120,000) Contribution margin80,000 Less fixed expenses(50,000) Net income$30,000   Required: a.Contribution margin ratio is________ % b.Break-even point in total sales dollars is$ ________ c.To achieve $40,000 in operating income, sales must total$ ________ d.If sales increase by $50,000, net income.

Homework Answers
50 Views
  • 30) Blankinship, Inc., sells a single product. The company's most
  • Accounting
Homework Answers
View Answer

51) The following information is taken from the records of Britton Company for March: Purchases: Direct materials$9,000,000 Indirect materials200,000 Office supplies420,000 Sales36,000,000 Salaries and Benefits: Selling and administrative4,000,000 Direct manufacturing labour6,000,000 Rent*4,000,000 Utilities*1,200,000 Advertising700,000 Inventories: March 1              March 31 Direct materials$4,400,000$1,600,000 Indirect materials500,000600,000 Office supplies150,000180,000 Finished goods24,000,00016,000,000 * Of these costs, 60 percent are assigned to manufacturing and 40 percent to selling and administration. Required: a.Prepare a schedule of.

Homework Answers
49 Views
  • 51) The following information taken from the records of Britton
  • Accounting
Homework Answers
View Answer

  Use the information below to answer the following question(s). Consider the following data of the Vancouver Company for the year 20X4: Sandpaper-Plant $10,000 Leasing costs - plant $120,000 Materials handling-Plant 100,000 Amortization- equip. 70,000 Coolants-Plant 7,000 Property taxes - equip. 10,000 Indirect manufacturing labour 86,000 Fire insurance - equip. 5,000 Direct manufacturing labour 680,000 Direct material purchases 980,000 Direct materials, 1/1/X4 120,000 Direct materials 12/31/X4 86,000 Finished goods, 1/1/X4 210,000 Sales 4,000,000 Finished goods, 12/31/X4 400,000 Sales commissions 200,000 WIP, 1/1/X4 30,000 Sales salaries 180,000 WIP, 12/31/X4 20,000 Advertising costs 150,000 Administration.

Homework Answers
46 Views
  •   Use the information below to answer the following question(s). Consider the
  • Accounting
Homework Answers
View Answer

41) Which statement about conversion costs is correct, using the three-part classification of costs? A) They include only direct manufacturing labour costs. B) They include only indirect manufacturing costs. C) They include both direct manufacturing labour costs and manufacturing overhead costs. D) They include indirect manufacturing labour costs but not manufacturing overhead costs. E) They.

Homework Answers
50 Views
  • 41) Which statement about conversion costs correct, using the three-part
  • Accounting
Homework Answers
View Answer

29) What is the amount of gross margin? A) $1,475,000 B) $1,500,000 C) $1,047,250 D) $1,032,500 E) $1,007,425 Use the information below to answer the following question(s). Frazer Inc. had the following activities in the year: Direct materials:      Beginning inventory $100,000      Purchases 308,000      Ending inventory 52,000 Direct manufacturing labour 80,000 Manufacturing overhead 60,000 Ending work in process inventory 20,000 Beginning work in process inventory 4,000 Ending.

Homework Answers
48 Views
  • 29) What the amount of gross margin? A) $1,475,000 B)
  • Accounting
Homework Answers
View Answer

11) Understanding the reasons for any difference between actual results and budgeted amounts is an important aspect of A) extended value-chain analysis. B) forecasting for the next accounting period. C) kaizen management. D) control. E) management by perception. 12) Which of the following is a major benefit of utilizing a budgeting system? A) It always results in.

Homework Answers
51 Views
  • 11) Understanding the reasons for any difference between actual results
  • Accounting
Homework Answers
View Answer

53) Find the required amounts, assuming each is an independent case. a.Direct MaterialsBeginning balance$14,000 Ending balance28,000 Purchases96,000 Direct materials used? b.Finished Goods InventoryCost of goods manufactured124,000 Ending balance40,000 Cost of goods sold122,000 Beginning balance? c.Work in Process InventoryEnding Balance44,000 Cost of goods manufactured42,000 Beginning balance16,000 Current manufacturing costs? d.Merchandise InventoryPurchases420,000 Cost of goods sold446,000 Beginning balance82,000 Ending balance? 54)  Evans Inc., had the following activities during 2012: Direct.

Homework Answers
46 Views
  • 53) Find the required amounts, assuming each an independent case. a.Direct
  • Accounting
Homework Answers
View Answer

19) Developing a new web site to display and demonstrate the company's products would be part of which value chain function? A) research and development B) design of products, services, and processes C) production D) marketing E) distribution 20) Companies use the term customer relationship management (CRM) to describe A) a strategy that integrates people and.

Homework Answers
66 Views
  • 19) Developing a new web site to display and demonstrate
  • Accounting
Homework Answers
View Answer

Can't find what you're looking for ?

Ask our exprts a study questions, on us.
Get free Homework Help*