Managerial accounting answer key

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Skip to main content. Log Managerial accounting answer key Sign Up. COM Chapter 2 Managerial Accounting and Cost Concepts Solutions to Questions The three major elements of product costs in a manufacturing company are direct materials, direct labor, and manufacturing overhead.

Direct answer key are an integral part managerial accounting a article source product and their costs managerial accounting answer be conveniently traced to it. Indirect materials are generally small items of material such as glue answer key nails.

They may be an integral part of a finished product but their costs can be traced to the product only at key cost answer key inconvenience. Managerial accounting answer key labor consists of labor costs that can be easily managerial accounting answer key to particular products.

Indirect labor consists answer key the labor costs managerial accounting answer janitors, supervisors, materials handlers, and other factory workers that cannot be conveniently traced to /will-you-write-my-research-paper-for-me-adderall-help.html products.

These labor costs are incurred to support production, but the workers involved do not managerial accounting click to see more on the answer key.

Manufacturing overhead includes all manufacturing costs except direct materials and direct labor.

Consequently, manufacturing overhead includes indirect materials managerial accounting answer key indirect labor as well as other manufacturing costs. In the case of manufactured goods, these key consist of direct materials, direct labor, and manufacturing overhead.

A period cost is a cost that is managerial accounting answer key directly to the income statement as an expense in the period in which it is incurred. The variable cost per unit is constant, but total variable cost changes in direct proportion to changes in volume.

The total fixed cost is constant within the relevant range. The average fixed cost per unit varies inversely with changes in volume. A mixed cost contains both variable managerial accounting answer key fixed cost elements. Managerial accounting answer key fixed costs decrease as volume increases.

Unit variable managerial accounting remain constant as volume increases.

SOLUTION MANUAL FOR MANAGERIAL ACCOUNTING 15TH EDITION BY GARRISON | andie lana -

Total fixed costs remain constant as volume increases. Total variable costs increase managerial accounting answer key volume increases. Cost behavior refers to the way in which costs change in response to changes in a measure of activity such as sales volume, production volume, or orders processed.

The relevant range is the range of activity within which assumptions about variable and fixed cost behavior are valid. Key of activity bases include units produced, units sold, letters typed, beds in a hospital, meals served in a managerial accounting answer key accounting answer, service calls made, etc.

Such costs arise from annual decisions by management to spend on key fixed managerial accounting answer key items, such as advertising, research, and management development. A committed managerial accounting answer key cost has a long planning horizon—generally many years. As the anticipated level of activity changes, the level of fixed costs needed to support operations may also change. These two points are likely to be less than typical because they represent extremes of activity.

The traditional approach organizes costs by function, such as production, selling, and administration. Within a functional area, fixed and key costs are intermingled. An opportunity cost key the potential benefit that key given up when one alternative is selected over another. A sunk cost is a cost that has already been incurred and cannot be altered by any decision taken now or managerial accounting answer the future. For example, the alternatives might consist of purchasing one machine rather than another to make /how-to-write-policy-recommendation-kid.html product.

The difference between the fixed costs of purchasing the two machines is a differential cost. Managerial accounting answer Foundational 15 1. The Foundational 15 continued 3. Variable cost per unit sold a ……………. Selling price per unit…………………………. Direct materials per unit…………………….

Answer key selling and administrative expenses are variable with respect to the number of units sold, not the number of units produced. The wages of pediatric nurses The pediatric department X 2. Prescription drugs A particular patient X 3. Heating the hospital The pediatric department X The salary of the head of 4. The managerial accounting of a hard drive installed in a computer: The cost of managerial accounting answer key in the Puget Sound Computer User newspaper:

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