You are watching: Flexibility of practice when applied to managerial accounting means that:
C. Managerial audit system differ across companies relying on the nature of the business and the plan of its inner operations.
Managerial accounting is various from financial accounting in that:A. Managerial bookkeeping is much more focused ~ above the company as a whole and financial accountancy is much more focused top top subdivisions the the organization.B. Managerial audit never includes nonmonetary information.C. Managerial accountancy includes numerous projections and also estimates vice versa, financial bookkeeping has a minimum of predictions.D. Managerial bookkeeping is used broadly by investors, whereas financial accountancy is supplied only by creditors.E. Managerial audit is mainly used to collection stock prices.
C. Managerial bookkeeping includes numerous projections and estimates whereas financial accounting has a minimum the predictions.
An perspective of constantly seeking ways to improve agency operations, consisting of customer service, product quality, product features, the manufacturing process, and also employee interactions, is called:A. Continuous improvement.B. Customer orientation.C. Just-in-time.D. Concept of constraints.E. Total quality measurement.
A management concept that looks for to uncover and also eliminate garbage in all elements of business activities is called:A. Constant operations.B. Client orientation.C. Just-in-time.D. Concept of constraints.E. Full quality management.
A fixed cost:A. Requires the future outlay of cash and also is pertinent for future decision making.B. Go not adjust with alters in the volume of task within the appropriate range.C. Is directly traceable to a price object.D. Changes with changes in the volume of activity within the pertinent range.E. Is irregularity for cost-volume-profit and short-term decision making.
Last year, Gordon company sold 20,000 systems of its only product. If sales rise by 20% in the current year, how will unit change cost and total fixed expense be affected?Unit change Cost/Total solved CostA) continues to be constant/Remains constantB) Increases/ DecreasesC) Decreases/ remains constantD) stays constant/DecreasesE) continues to be constant/Increases
A manufacturing company has a beginning finished items inventory the $15,500, raw product purchases the $18,900, price of products manufactured the $34,300, and also an ending finished products inventory of $18,700. The cost of items sold because that this firm is:A. $31,100.B. $22,100C. $34,300.D. $29,400.E. $49,800.
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Asteroid Industries built up the following expense information because that the year: direct materials $16,800Indirect products 4,800Indirect labor 9,300Factory depreciation 13,600Direct labor 37,800 making use of the above information, complete factory overhead expenses would be:A. $82,300.B. $27,700.C. $13,600.D. $18,400.E. $54,600.