Material price variance - Study guides, Class notes & Summaries

Accounting: What costs should be considered when making non-routine decisions? (3) - CORRECT ANSWER The price of material, Factory overhead costs, and the price of labor Accounting: Total product/ units produced and sold equals?? - CORRECT ANSWER Product Cost per Unit Accounting: What is a general explanation of what the contribution margin is? - CORRECT ANSWER The difference between variable costs subtracted from sales Accounting: In a continuous budget plan how many ...

SAP Certification Practice Exam 241 Questions with Verified Answers Which of the following control parameters determines the scope of the MRP run in SAP S/4HANA? - Processing key - Purchase requisition - Planned order - Planning mode - Schedule line - CORRECT ANSWER - Processing key What is the highest organizational unit in warehouse management? - Warehouse number - Storage selection - Storage bin - Storage type - CORRECT ANSWER - Warehouse number What happens when we post...

FMVA CFI Test Questions & Answers 2024/2025 Identify which trait below about incremental budgeting is FALSE 1. Inputs or actives are determined by the budgeted outputs 2. It takes previous years' actual figure and add or subtract a certain percentage from it to make the new year's budget 3. It can carry over mistakes or slack budgets from previous years 4. It is the most commonly used method of budgeting - ANSWERSInputs or actives are determined by the budgeted outputs Identify whi...

UIUC AACY 200 EXAM 2 ______________ standards allow inefficiencies from prior years to be incorporated into the budget, thus providing little incentive for improvement. - Past experience - Engineered - Ideal - Attainable ️Past experience A common size income statement: - makes comparisons between years more difficult. - uses the same dollar amount of revenues for each year. - is useful in estimating the impact of inflation. - expresses items as a percentage of revenues. ️expresses ite...

What are the 3+1 stages of absorption costing? 1. Allocation 2. Apportionment 3. Absorption = Production Cost 4. Under/over = Non prod OH Why would you use Absorption Costing? Valuing Inventory Pricing Decisions Establishing profitability What are pros and cons of absorption and marginal costing? Absorption -Avoids varying profits if sales are seasonal -Consistent with accounting standards -Recognises Long Run variable costs -Implies OH related to production = Manipulate profit ...

Forces of Change in Managerial Accounting correct answers - in the 1970s OPEC increased prices a lot - producers sold a bunch of shit but their margins were small because of OPEC price increase - producers made much more use of technology like computers, robots, etc. - Asian influences (like Japan) made MA more prevalent - Accounting for strategizing, helping managers make decisions - Intellect, people, and social media has had a big effect on stock prices and accounting MA vs. FA correc...

Answered) CIPS L4M1 Scope and Influence of Procurement and Supply 2024 What is Procurement? Procurement is a STRATEGIC function of a business obtains something Tangible as goods or Intangible as services. Include Purchasing Inventory, Logistics, Supply, Waste Management Quality, Cost, Added Value What is Purchasing? Is the ACT of physically ordering and buying something. What is Supply? Is the INFRASTRUCTURE which ensures that products and services get from supplier to the customer. Wha...

ETS Business Exam Study Guide Accounting: What costs should be considered when making non-routine decisions? (3) - ANSWER The price of material, Factory overhead costs, and the price of labor Accounting: Total product/ units produced and sold equals?? - ANSWER Product Cost per Unit Accounting: What is a general explanation of what the contribution margin is? - ANSWER The difference between variable costs subtracted from sales Accounting: In a continuous budget plan how many months are ...

Pre-determined overhead rate formula - ANSWERSprojected overhead costs / expected activity base applied overhead formula - ANSWERSpre-determined overhead rate x actual units of allocation based (such as direct labor hours) Under/over applied overhead rate = - ANSWERSactual MOH - applied MOH Job cost = - ANSWERSDirect materials + direct labor + applied MOH + (beg wip - ending wip) Cost of good sold = - ANSWERScost of goods manufactured + (beginning finished goods - ending finished goo...

ETS Business Exam Study Guide Exam With Complete Solutions 2024 Accounting: What costs should be considered when making non-routine decisions? (3) - answerThe price of material, Factory overhead costs, and the price of labor Accounting: Total product/ units produced and sold equals?? - answerProduct Cost per Unit Accounting: What is a general explanation of what the contribution margin is? - answerThe difference between variable costs subtracted from sales Accounting: In a continuous budg...