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Equivalent units of production

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Reference no: EM133300832

Questions

1. Distinguish between financial and managerial accounting for (a) first users of reports, (b) types and frequency of reports, and (c) purpose of reports.

2. How are manufacturing costs classified?

3. What are the similarities between "job order" and "process cost system"?

4. What is the meaning of the term "equivalent units of production"?

5. "Cost-volume-profit (CVU) analysis is based entirely on unit costs." Do you agree? explain.

6. Breakeven analysis is of limited use by management because a company cannot survive on breakeven alone. Do you agree? explain.

7. What are the steps used by management for the decision-making process?

8. Define the term "opportunity cost." How is this cost relevant to the make or buy decision?

9. What is a budget? How is it that a budget can contribute to the good management of any organization?

10. What is the criterion that helps determine the time horizon of a budget period? What is the most common budget period?

Reference no: EM133300832

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