MAC3701 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE 9 September 2024
3 views 0 purchase
Course
MAC3701
Institution
MAC3701
MAC3701 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE 9 September 2024
•
Absolute cell referencing - Answer-Referencing cells by fixed position in a spreadsheet
Absorption Costing - Answer-Method allocating all manufacturing costs to products
Accounting Information - Answer-P...
Absolute cell referencing - Answer-Referencing cells by fixed position in a spreadsheet
Absorption Costing - Answer-Method allocating all manufacturing costs to products
Accounting Information - Answer-Process of recording financial details like sales, costs,
assets, and liabilities.
Activity-Based Costing - Answer-Calculating overhead recovery rates using cost drivers
Average Cost (AVCO) - Answer-Inventory valuation method where costs are averaged
across all units
Break-even analysis - Answer-Determining the point at which total revenue equals total
costs
Budget Preparation - Answer-Creating budgets for multi-product organizations
Budget Types - Answer-Differentiating fixed, flexed, and rolling budgets
Budgeting - Answer-Planning and controlling financial resources
Capital Expenditure - Answer-Spending on items lasting over a year, creating fixed
assets
Cash Management - Answer-Supervising cash flow to ensure liquidity and efficiency
Categories of Cost - Answer-Different types of costs considered in management
accounting.
Competitor Information - Answer-External data about industry rivals considered in
management accounting.
Conditional formatting - Answer-Applying formatting based on specified conditions
Contribution - Answer-Revenue minus variable costs
Control - Answer-Comparing actual results against budgets to improve organizational
performance.
, Cost Accounting Journals - Answer-Records of cost accounting transactions for
materials, labor, and overhead
Cost Behaviours - Answer-Different cost patterns affecting cost analysis and decision
making
Cost Centre - Answer-Volume of output for which costs are gathered together
Cost centres - Answer-Identifiable business locations for cost accumulation, like
production departments.
Cost Classification - Answer-Organizing costs based on similarities in behavior or
function
Cost per Unit - Answer-Identifying the cost associated with producing one unit of output
Cost Reduction - Answer-Striving to improve profit by minimizing expenses
Cost Unit - Answer-Specific measure used to allocate costs in a company
Cost Units - Answer-Business location where costs can be attributed
Cost units - Answer-Volume of output for cost aggregation, not necessarily a single
physical unit.
Cost-volume-profit analysis - Answer-Examining the relationship between costs,
volume, and profits
Costing - Answer-Analysis of business costs and determining cost per unit.
Costing Systems - Answer-Different methods to record cost information in business
sectors
Data - Answer-Raw facts, events, and transactions awaiting processing for decision-
making.
Data validation - Answer-Restricting data entry and editing
Decision Making - Answer-Making decisions about the future direction of the business
Decision-making - Answer-Managers make various decisions to enhance business
performance.
Direct Costs - Answer-Costs traceable to individual units of production
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kartelodoc. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.89. You're not tied to anything after your purchase.
