Acct acct 2302 - Study guides, Class notes & Summaries

Ch 18: Cost Behavior and Cost-Volume-Profit Analysis 1 1. Cost-volume-profit analysis helps managers predict how changes in ________ and ______levels affect income. Costs; sales 2. Which of the following is the correct statement about fixed costs? The fixed cost per unit will decrease when volume increases. 3. A(n) ________ cost changes in proportion to changes in volume of activity Variable 4. A (n) ________ cost includes both fixed and variable components. Mixed 5. Acme Manufacturing...

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...

McGraw Hill ACCT 2302 - Garrison, Managerial Accounting, 17e Garrison, Managerial Accounting, 17e

Ch16: Process Costing and Analysis 1 1. Match each product with the type of manufacturing most likely to be used—job order or process operations.  Job order  customized home  Process  soft drinks  Process  oil changes  Process  chocolate chip cookies  Job order  wedding invitations 2. In process operations, costs are accumulated in each process. In the final process, cost are transferred to: Finished goods 3. Process and job order operations are similar...

McGraw Hill ACCT 2302 - Garrison, Managerial Accounting, 17e Garrison, Managerial Accounting, 17e

Ch 18: Cost Behavior and Cost-Volume-Profit Analysis 1 1. Cost-volume-profit analysis helps managers predict how changes in ________ and ______levels affect income. Costs; sales 2. Which of the following is the correct statement about fixed costs? The fixed cost per unit will decrease when volume increases. 3. A(n) ________ cost changes in proportion to changes in volume of activity Variable 4. A (n) ________ cost includes both fixed and variable components. Mixed 5. Acme Manufacturing...

McGraw Hill ACCT 2302 - Garrison, Managerial Accounting, 17e Garrison, Managerial Accounting, 17e

McGraw Hill ACCT 2302 - Garrison, Managerial Accounting, 17e Garrison, Managerial Accounting, 17e The management of Kunkel Company is considering the purchase of a $29,000 machine that would reduce operating costs by $6,500 per year. At the end of the machine’s five-year useful life, it will have zero salvage value. The company’s required rate of return is 16%.

McGraw Hill ACCT 2302 - Garrison, Managerial Accounting, 17e Garrison, Managerial Accounting, 17e