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irina1246 [14]
3 years ago
10

The following are nine technical accounting terms introduced or emphasized in this chapter. Responsibility margin Transfer price

Common fixed costs Contribution margin Cost-plus transfer price Traceable fixed costs Performance margin Product costs Committed fixed costs Each of the following statements may (or may not) describe one of these technical terms. For each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms. a. The costs deducted from the contribution margin to determine the responsibility margin. b. Cost to produce plus a predetermined markup. c. Fixed costs that are readily controllable by the manager. d. A subtotal in a responsibility income statement, equal to responsibility margin plus committed fixed costs. e. The subtotal in a responsibility income statement that is most useful in evaluating the short-run effect of various marketing strategies on the income of the business. f. The subtotal in a responsibility income statement that comes closest to indicating the change in income from operations that would result from closing a particular part of the business. g. The amount used in recording products or services supplied by one business unit to another.
Business
1 answer:
Ostrovityanka [42]3 years ago
5 0

Answer: Please refer to Explanation

Explanation:

The terms will be listed in bold at the end of the statement. If you require further clarification please do comment.

a. The costs deducted from the contribution margin to determine the responsibility margin. TRACEABLE FIXED COSTS.

b. Cost to produce plus a predetermined markup. COST-PLUS TRANSFER PRICE

c. Fixed costs that are readily controllable by the manager. NONE

d. A subtotal in a responsibility income statement, equal to responsibility margin plus committed fixed costs. PERFORMANCE MARGIN.

e. The subtotal in a responsibility income statement that is most useful in evaluating the short-run effect of various marketing strategies on the income of the business. CONTRIBUTION MARGIN.

f. The subtotal in a responsibility income statement that comes closest to indicating the change in income from operations that would result from closing a particular part of the business. RESPONSIBILITY MARGIN.

g. The amount used in recording products or services supplied by one business unit to another. TRANSFER PRICE.

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Answer:

False

Explanation:

Ordering costs are the costs incurred when materials are requested for. These components of this cost are:- 1)Clerical and administrative costs involved in purchasing and accounting for the goods ordered.

2)Cost of transportation

3)Retooling cost: This happens when the product is manufactured internally. Retooling means change of working tools.

4)Insurance while in transit.

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3 0
2 years ago
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You purchased a bond at a price of $1,700. In 20 years when the bond matures, the bond will be worth $10,000. It is exactly 13 y
ryzh [129]

Answer:

<u>Annual rate of return which will be earned from today is 5.89%</u>

Explanation:

FV = PV (1+r)^n

r is int Rate per anum abd n is balance period

10000 = 6700 ( 1 + r)^n

10000 = 6700 ( 1 + r)^7

( 1 + r)^7 = 10000 / 6700

= 1.4925

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= 1.0589

r = 1.0589- 1

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8 0
2 years ago
What is most likely to have a negative effect on<br> domestic small business growth
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Restrictive loan policies, taxes

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3 years ago
Suppose you were considering depositing money in a savings account at two different banks. Each bank will pay 5% interest. Howev
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Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

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4 0
2 years ago
A quality control activity analysis indicated the following four activity costs of an administrative department:
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Answer:

total sales are the internal failure costs is 2%

Explanation:

given data

form to reduce errors =  $15,000

customer complaints = 75,000

Verifying = 30,000

Correcting errors = 60,000

Total = $180,000

sales = $3,000,000

to find out

total sales are the internal failure costs

solution

we know here that internal failture cost is express as

internal failture cost  = correcting error in form   ...........1

internal failture cost  =  $60000

and

internal failture cost as % of total cost is here as

internal failture cost to sale = \frac{internal\ failture\ cost}{sales}   .......2

internal failture cost to sale = \frac{60000}{3000000}

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so total sales are the internal failure costs is 2%

3 0
3 years ago
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