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1. Management accountants usually plan for a small positive cash balance in their cash budgets for all of the following reasons except:
a) It provides for unexpected emergencies.b) Keeping the balance as small as possible is an important way to effectively manage cash.c) It provides a safety buffer for variations from plan.d) It provides funds in case of major capital expenditures
2. Labor efficiency has sometimes been incorrectly referred to in class as the
a) materials quantity variance.b) total labor variance.c) labor quantity variance.d) labor rate variance.e) (standard material, plus standard labor, plus standard overhead) times the controllable scrap rate.
3. The standard price and standard quantity of direct materials are separated because:
a) usually direct materials prices are controlled by the purchasing department, and quantity of direct materials used is controlled by the production department.b) GAAP reporting requires this separation.c) standard quantities are more difficult to estimate than standard prices.d) standard prices change more frequently than standard quantities.e) it is required by the matching principle.
Journalize transactions as required from the activity data and post journal entries to T-accounts and calculate account balances.
Brangelina Adoption Agency's general ledger shows a cash balance of $4,373. The balance of cash in the March-end bank statement is $7,050. The bank statement reveals the following information: checks outstanding of $2,720, bank service fees of..
A building contractor took a contract for the construction of a certain building on 1st January 1994. The contract price was agreed at Rs 4,00,000. The contractor had made the following expenditure during the year.
The contribution margin in mall store is $200,000. Total fixed costs are $90,000 in downtown store and $93,000 in the mall location. How much are sales at mall location?
Evaluate revenue must K-Henry's generate in order to reach the break-even point and the variable utility cost per unit, to the nearest cent
Manufacturing overhead applied to Work in Process for month was $69,450 and manufacturing overhead transferred from Finished Goods to Cost of Goods Sold through the month was $69,450.
Write a statement of cash flows for 2011 for Farmer Company
on january 1 st 2006 the sas company entered into a lease where they agreed to make five annual payments of 224000
The Program Office has access to a database of the costs of adding similar equipment to 15 other types of aircraft. What is the most appropriate cost estimating method for this situation and budget for the estimated negotiated price and the maximum..
On April 1, 2014, West Company purchased $476,000 of 5.25% bonds for $494,790 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2019.
Outline the findings of the various courts of appeal and discuss the severity of the penalties awarded to the management of James Hardie.
The company needs to maintain monthly ending inventories of clay equal to 20% of the subsequent month's production required. On August 31, 18,000 pounds of clay were on hand.
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