Answer: E. All of the above are characteristics of managerial accounting.
Explanation:
Managerial accounting is geared towards analysing accounting data to help management of an organization make decisions. As such it is internal and is seen by company employees.
To help the management, specific management reports are produced from which decisions affecting the company can be made. It is relatively flexible to enable it to suit the demands of the company and as it is for internal use, is not independently audited.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Variable cost:
Direct material= $0.50 per unit
Fixed cost:
Fixed overhead= $15,000
Total cost for 10,000 units:
Variable cost= 0.50*10,000= 5,000
Fixed costs= 15,000
Total cost= $20,000
Total cost for 15,000 units:
Variable cost= 0.50*15,000= 7,500
Fixed costs= 15,000
Total cost= $22,500
Answer:
Checks like money-? Because then, you are talking prices. The higher the price the more it most likely is. If you run a company, to you you want to make the higher quality things more, unless you just want to scam somebody. Thats all i can do for now, i can finish later maybe.
Explanation:
Checks like money-?
Answer:
The correct option is D,economic costs are generally higher than accounting costs because economic costs include all opportunity costs, while accounting costs include explicit costs only.
Explanation:
Economic costs are usually higher because economic costs comprises of both implicit and explicit costs whereas accounting profit calculation only consider the explicit costs.
Explicit costs are the costs that require actual cash flows from the business such as the payment of rent,salaries and many more.
However,implicit costs are not real costs in actual term,they are costs of forgone benefits such as the salaries the business owner if he takes employment elsewhere.
