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3 years ago

Management accounting is accounting for effective management. Explain this statement.

Business

1 answer:

Marianna [84]3 years ago

4 0

Explanation:

Management is the process of organizing, commanding, coordinating and controlling administrative resources. When we talk about management accounting, we relate to a company's financial resources, which are essential for profitability, payments, investments, etc., that is, so that the business can flow effectively.

Therefore, it is correct to say that managerial accounting is the accounting for effective management because accounting is an instrument of control and management for organizing financial accounts and indexes, these being essential instruments in helping to better decision making in a period of time, giving subsidies for managers to adapt and anticipate negative financial situations for example.

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nevsk [136]

Answer:

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3 years ago

benjamin company has the following results of operations for the pat tyear. A foreign company (whose sales will not affect Benja

maks197457 [2]

Answer:

Increase by $5,975

Explanation:

Calculation to determine the profit

First step is to calculate the Direct Material and Direct labor per unit

Direct Material and Direct labor per unit=$100,000/16,000

Direct Material and Direct labor per unit=$6.25

Second step is to calculate the Relevant Variable Overhead

Relevant Variable Overhead = 20,000 * 20%

Relevant Variable Overhead= $4,000

Third step is to calculate the

Relevant Variable Cost per unit = $4,000 / 16,000

Relevant Variable Cost per unit= $0.25

Fourth step is to calculate the Total Relevant Variable cost per unit

Total Relevant Variable cost per unit = $6.25 + $0.25

Total Relevant Variable cost per unit= $6.5

Fifth step is to calculate the Relevant Contribution Margin per unit

Relevant Contribution Margin per unit = $8.05 - $6.5

Relevant Contribution Margin per unit= $1.55

Sixth step is to calculate the Total Contribution

Total Contribution = 4,500 * $1.55

Total Contribution= $6,975

Now let calculate the profit using this formula

Profit = Contribution - Fixed Cost

Let plug in the formula

Profit = $6,975 - $650 - $350

Profit = $5,975

Therefore If Benjamin accepts the offer, its profits will:Increase by $5,975

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2 years ago

In most cases, markets are considered more efficent and better off when monopolies are broken up. Why is it hard for governments

Alexus [3.1K]

Answer:

In simple words, it is hard for governments to break he monopolies as generally as these entities are generally protected by some kind of legal or social convention. A monopoly of an entity that has strategic importance for the nation could be harmful in long run. Also if an individual owns a monopoly due to some patent right etc. then breaking that up will be seen as social injustice.

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3 years ago

Pricing objectives refer to :A. reconciling the prices charged by an organization to the values set forth in its business missio

enot [183]

Answer:

Specifying the role of price in an organization's marketing and strategic plans.

Explanation:

Pricing objectives can be described as the goals which puts an organization through on ways to place the prices of their products to potential customers. It makes the products more appealing to the customers. Pricing objectives involves determing the appropriate price for a particular good or service.

Pricing objectives helps companies in improving their market shares this is achieved by cutting down the cost of their products to drive customers to purchase them thereby giving the business a high competitive edge in the market.

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3 years ago

Both country 1 and country 2 are located on their respective production possibilities frontiers (PPFs) for consumer goods and ca

nikdorinn [45]

Answer:

A) Country 1's PPF lies further to the right than country 2's PPF.

Explanation:

Production Possibility Curve shows the combination of two goods, that an economy can produce - by utilising given resources & technology best efficiently.

If country 1 produces twice the output of both goods compared to country 2. Then, country 1's PPF would lie further to the right than country 2's PPF. As, more quantities implies rightward shifted PPC, signifying more quantities of goods that can be produced.

Efficient or inefficient production leads to production inside or on PPC, doesn't shift PPC. Population change is also irrelevant in this case.

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3 years ago

Management accounting is accounting for effective management. Explain this statement.​

Management accounting is accounting for effective management. Explain this statement.