The flexible budget performance report directs managements attention to areas where corrective action can help control operations. Management uses the report to determine price and quantity variances.
Companies using the accrual concept of accounting to complete the measurement process at the year end through the recording of adjusting entries.
<h3>What is an accrual concept?</h3>
An accrual concept is one of the method which records the incomes at the time when it is earned or charges when it is incurred.
Adjusting entries are the entries recorded in the accounting books to close all the accounts at the year end. It helps in determining the correct amount of charges and revenues at the time of finalizing the accounting statements.
Therefore, the adjusting entries are used by the company to complete the measurement process while applying the accrual concept.
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Answer:
Do not offer cat grooming
Explanation:
Marginal cost = $30
Marginal Revenue = $25
According to the given situation Since marginal revenue is less than the marginal cost which decreases the profit. Here, we do not know about the rent as it is a fixed cost also we will not change if he wants to add further services.
Therefore, we will only consider the marginal benefits and cost of introducing the services. So Roger should not offer cat grooming.
Answer:
I believe it may be C. Focusing on a product or services features instead of the benefits it offers to the customer.
Explanation:
Answer:
$664,000
Explanation:
Kuck corporation has a product whose contribution margin ratio is 75%
= 75/100
= 0.75
The company has a fixed expense of $456,000
The company has a target profit of $42,000
Based on the values above, the dollar sales to attain the company's target profit can be calculated as follows
Dollar sales to reach target profit = (Target profit + fixed expenses) /Contribution margin ratio
= ($456,000+$42,000)/75/100
= $498,000/0.75
= $664,000
Hence the dollar sales to reach the required company's target profit is $664,000