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:
On the 50th day, the purchase cost will be equal to the lease cost
Explanation:
Given that:
- Daily operating costs of $500
- Purchasing cost for the item: $10,000
- Lease amount: $700
Let x is the number of days the purchase cost be the same as the lease cost. As we now that:
The total cost should be equal to the total lease received
<=> 10,000 + 500x = 700x
<=> 200x = 10000
<=> x = 50
Hence, on the 50th day, the purchase cost will be equal to the lease cost
Kilbuck Manufacturing operates in a lean manufacturing environment. Kilbuck’s actual conversion costs for the month of May follow:
<span><span>Direct and indirect labor $150,000
</span><span>Machine depreciation $85,000
</span><span>Maintenance and supplies $60,000
</span><span>Total conversion costs <span>$295,000
<span>The journal entry to record April's conversion costs will include:
</span>D. A debit to Raw and In Process Inventory
</span></span></span>Raw materials of all kinds are measured at the start<span> recorded into </span>a list plus<span> account with a debit to the raw materials inventory account and a credit to the accounts </span>collectible<span> account.When raw materials </span>are<span> consumed, the accounting treatment varies, </span>betting on<span> their </span>standing<span> as direct or indirect materials.</span>
Because the banks were down
