Answer: Option (E)
Explanation:
Managerial accountant tends to analyzes and records the financial data and information by the means of interpreting, collecting, and also preparing financial data to company's or organization's management team. The information and data is further then used in order to form practical financial decisions which can further benefit the organization's overall growth.
Answer:
Honestly, Bill Can not sue Tom
Explanation:
Firstly I don't know the contractual agreement between Tom and Bill, but based on the fact that Tom informed Bill of the latest happenings as regards the umbrella,
Hence Bill is well Informed.
Now Bill tested his umbrella and they were OK, it doesn't rule out the fact and the possibility of 14 out 100 to be bad, this can be in a form of factory error.
Answer: Sales for the period is $6,100
Explanation:
1. The purchases for the period was posted into a wrong account which is supply expenses.
We have to adjust that entry by:
DR: Purchases. $4,800
CR: Supplies Exp. $4,800
Being wrong posting of purchases for the period.
2. Sales for the period:
Opening inventory $3,500
Purchases. $4,800
Closing Inventory. ($2,200)
Sales. $6,100
DR: Bank $6,100
CR: Sales. $6,100
Being sales for the month of july
Relevant cost is teh cost that affects a decision.
An example of a relevant cost to a decision would include: Cost of POS (Point of Sale), Cost of POS training, Cost of Maintenance and Materials.
Non relevant costs on the other hand are costs that do not affect the decision. Labor Cost is example of non relevant Cost.
Answer:
A. Quick Change's profit will increase while Fast Change's profit will fall.
Explanation:
Initially, both Quick Change and Fast Change have 4700 customers and the revenue per customer is $15. The total revenue for both businesses is,
The salary expense of Quick change is fixed at 47000. Thus, Quick Change's profit, initially, is:
The Salary expense of Fast Change is variable as it is calculated on the number of customers served at $10 per customer. So, Fast Change's initial profit is,
- 70500 - (10 * 4700) = 23500
When the number of customers change and Quick change gains 1000 more customers and reduced its price to 13, the new revenue and profit for Quick change will be,
- Revenue = 13 * 5700 = 74100
- The salaries expense is fixed so it will stay 47000
- Profit = 74100 - 47000 = 27100
- Thus the profit of Quick Change will increase to 27100 from 23500.
The new revenue and profit of Fast Change will be,
- Revenue = 15 * 3700 = 55500
- The new salary expense will be = 10 * 3700 = 37000
- The new profit will be = 55500 - 37000 = 18500
So Quick Change's profit has increased while Fast Change's profit has fallen.