Answer:
is used to control costs of manufacturing activities
helps managers determine selling prices
Explanation:
A "cost accounting system" allows a business to examine its costs. The information of these costs are then collected in order to help the company control its costs and come up with<em> an estimate of their product's cos</em>t. An accurate cost allows a company to be profitable. So, this allows the managers to determine selling prices. Costs regarding manufacturing activities are also taken into consideration.
The cost accounting system is not only used with a perpetual inventory system. It can also be used with a periodic inventory system. It does not necessarily provide a general information used by investors, rather it provides an internal information. It can also adapt according to the needs of the company. Financial accounting provides information to the <em>outside investors.</em>
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Answer:
The flexible-budget variance for materials is $5,000 favorable.
Explanation:
In order to calculate the The flexible-budget variance for materials we have to use the following formula:
Flexible budget variance for materials = Budgeted material cost for actual production - Actual material cost
= (2,500*$97) - (2,500*$95)
= $242,500-$237,500
= $5,000
Hence, The flexible-budget variance for materials is $5,000 favorable.
The filing of a document by a co-worker allows one to copy the document in case of an emergency, so both the person and the supervisor will be able to access it.
<h3>What is a document?</h3>
A piece of paper containing a material information, whether legally registered or not, is known as a document. However, as the times have evolved, a document can also be in an electronic form, other than paper.
Hence, option A holds true regarding the document of the co-worker.
Learn more about a document here:
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Answer: D. is reported on the income statement separately, or as a part of Other Income and Expense, depending on its significance.
Explanation: Unrealized losses are losses that have been inputted on paper, but the corresponding transactions have not been completed. They are also known as paper loss, due to their being recorded on paper; and are changes in the value of assets or liabilities that have not yet been settled. They are reported on the income statement separately or as a part of other income and expense (accumulated comprehensive income), usually found in the equity section of the balance sheet.
