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3 years ago

What is the primary criterion of managerial accounting reports

1 answer:

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What is the primary criterion for the preparation of managerial accounting reports?

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meet managers need
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Answered by The WikiAnswers® Community
Making the world better, one answer at a time.
What is Managerial accounting?
Answered in BUSINESS & FINANCE
What is Managerial accounting?
Managerial accounting is different to financial accounting because it is the one called cost accounting. It is the process in which it is needed to identify, measure, anal… (MORE)
1 person found this useful

Answered by The WikiAnswers® Community
Making the world better, one answer at a time.
Should accountants only focus on financial statements and not on production of managerial reports?
Answered in BUSINESS ACCOUNTING AND BOOKKEEPING
Should accountants only focus on financial statements and not on production of managerial reports?

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The Clark Sports Camp operates three sports programs: basketball, lacrosse and field hockey. The camp provides a unique opportun

igor_vitrenko [27]

Answer:

1. Impact on profits:

Contribution Margin = $63,000

Less: Traceable Rent = $10,000

Less: Salary of Director = $10,000

Total avoidable fixed expenses = $20,000

Decrease in Profits = $43,000

Hence, the profits will reduce by $43,000 if the basketball program is eliminated.

3. If the allocated fixed costs can be reduced by $50,000. The program should be dropped since there will be an increase in profits by $7,000 (50,000 - 43,000). The avoidable costs and revenues should be taken into account for the purpose of this decision. If the avoidable costs are more than the revenues, the line should be dropped else not.

Hence, since after considering the reduction in allocated fixed costs, the avoidable costs are greater than revenues, the program should be dropped

5 0

3 years ago

Recognizing an employee as the Star Performer of the Month would be satisfying the _____ need of the Maslow s hierarchy of needs

Vikki [24]

Answer:

The correct answer to the following question is Esteem need of Maslows hierarchy of needs.

Explanation:

Maslows hierarchy of need is a motivation theory given by Abraham maslow, according to him people are motivated in order to achieve certain. He has described his theory of needs as pyramid which consists of physiological needs, safety needs, social needs, esteem needs and self actualization.

In esteem needs , maslow tells about people's need for appreciation and respect, after a person has achieved the first three basis needs , the persons behavior would be motivated by esteem needs. Because people have need for feeling prestige and sense of accomplishment, self worth and self esteem.

6 0

3 years ago

Which of the following statements is FALSE?A. The effect of compounding is great over short time periods, but then it begins to

Ede4ka [16]

Answer:

The false statement is letter "A": The effect of compounding is great over short time periods, but then it begins to decline as the horizon grows.

Explanation:

Interest on interest or Compound Interest is the money accrued out of an interest rate plus all the interest earned accumulated on a certain period of time. The compound interest can be calculated on a daily, monthly or yearly basis. If the frequency of the compound interest is set in shorter periods of time, it will be more beneficial for the investor.

In that sense, option letter "A" is false since interest on interest does not decline over time but increases.

6 0

3 years ago

An economy is employing 2 units of capital, 5 units of raw materials, and 8 units of labour to produce its total output of 640 u

mart [117]

Answer:

Explanation:

1. To find the cost per unit of production, first we find the total cost. So we multiply the unit of each factor used times its cost.

capital: 2*$10=$20

raw materials: 5*$4=$20

labour: 8*$3=$24

Total cost: $20+$20+$24=$64

Then we divide the total cost over the total units produced:

Cost per unit: $64/640=$0,1 Answer is B

2. If the cost per unit of raw materials increases from $4 to 8$. Then the total cost of production will be:

capital: 2*$10=$20

raw materials: 5*$8=$40

labour: 8*$3=$24

Total cost: $20+$40+$24=$84

To find how much the cost per unit will rise, to find how much it rises

64$→100%

$84←x

x=($84*100%)/$64=131.2%

131.2%-100=31.2%. The answer is B

3. Because there is a change in raw materials, then there would be changes in the supply demand. In this case, the total cost and the cost per unit increased, then it is a negative shock to the supply demand. This is represented as a shift to the left. The answer is D

4 0

3 years ago

Accounting for par, stated, and no-par stock issuances LO P1

sp2606 [1]

Answer:

Rodriguez Corporation

Journal Entries:

a. Debit Cash $176,900

Credit Common Stock $128,000

Credit Additional Paid-in Capital $48,900

To record the issue of 16,000 shares at $8 par value.

b. Debit Cash $176,900

Credit Common Stock $176,900

To record the issue of 16,000 shares at no par or stated value.

c. Debit Cash $176,900

Credit Common Stock $64,000

Credit Additional Paid-in Capital $112,900

To record the issue of 16,000 shares at $4 state value.

1. Issue of 16,000 shares of no par, no stated value common $94,900 cash.

Journal Entry:

Debit Cash $94,900

Credit Common Stock $94,900

To record the issue of 16,000 shares at no par or stated value.

2. Record the issue of 16,000 shares of $2 stated value common stock for $94,900 cash.

Journal Entry:

Debit Cash $94,900

Credit Common Stock $32,000

Credit Additional Paid-in Capital $62,900

To record the issue of 16,000 shares of $2 stated value for cash.

Explanation:

a) Data and Calculations:

Number of common stock shares issued = 16,000

Cash collected from the issue = $176,900

Date of issue = February 20.

b) When shares are issued at no par or stated value, the corresponding credit for the Common Stock account equals the cash realized. When the par value is less than the issued price, the corresponding credit above the par value is credited to the Additional Paid-in Capital account.

8 0

3 years ago