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Exam (elaborations) Quiz Submissions - Final Exam Part 1 100% (MGMT640) $10.48   Add to cart

Exam (elaborations)

Exam (elaborations) Quiz Submissions - Final Exam Part 1 100% (MGMT640)

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Exam (elaborations) Quiz Submissions - Final Exam Part 1 100% (MGMT640) Question 1 1 / 1 point A typical use of managerial accounting is to: help investors and creditors assess the financial position of the company. help management get a clean audit report help the marketing m...

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  • June 23, 2022
  • 14
  • 2020/2021
  • Exam (elaborations)
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100% correct Quiz Submissions - Final Exam Part 1

Quiz Submissions - Final Exam Part 1

Question 1 point

A typical use of managerial accounting is to:

help investors and creditors assess the financial position of the company.
help management get a clean audit report
help the marketing manager decide which product promotion to implement
help the SEC decide whether management is in compliance of its policies.

1/1
point
Question 2

Three costs incurred by Pitt Company are summarized below:

1,000 units 2,000 units

Cost A $10,000 $15,000

Cost B $21,000 $21,000

Cost C $16,000 $32,000

Which of these costs are variable?

A, B, and C
A and B
A only
C only
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SOLUTION:

Variable costs increase or decrease in proportion to increases or decreases in level of business activity.

Cost Per Unit Cost t 2,000
(1,000 Units) Formula Units Formula
Cost A $ 10.00 $10,000/1,000 $ 20,000 $10*2,000
Cost B $ 21.00 $21,000/1,000 $ 42,000 $21*2,000

, 100% correct Quiz Submissions - Final Exam Part 1
Cost C $ 16.00 $16,000/1,000 $ 32,000 $16*2,000

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