Answer:
True
Explanation:
A decrease in demand means that consumers plan to purchase less of the good at each possible price
Answer:
A credit to Encumbrance Control
Explanation:
In the case when the journal entry is the general fund is recorded and when we have to record the actual expenditure and the reversal of the attached encumbrance so here the encumbrance control should be credited as we have to record the actual expenditure that have incurred also the reversal of attached encumbrance so this account should be credited
Answer:
D. $242,200
Explanation:
The variable cost is that cost which is changes when there is a change in the level of production.
It includes the direct material cost, direct labor cost, factory supplies, etc
The computation of the total variable cost is shown below:
= Direct material cost + direct labor cost + packaging cost
= $85,000 + $138,000 + $19,200
= $242,200
Therefore we included these three cost for the calculation of the variable cost
Explanation:
Let us understand what a cost accounting and management accounting deals with and how both are related to business management.
Cost accounting:
- It deals with expenses and cost assessment in terms for producing or buying products.
- Gives an idea of how to measure profit.
- To determine the selling price and this would be challenging and profitable to the business and to the market.
Management accounting:
This helps the business people to make decisions, assess performance, and it is one step ahead of cost accounting.
Any business management people has to deal with money, take decision, assess the market, measure profit. So it is important to get a knowledge on Cost and management accounting.
