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1. Managerial accounting applies to each of the following types of businesses except service firms merchandising firms manufacturing firms managerial accounting applies to all types of firms 2. Managerial accounting does not encompass calculating product cost calculating earnings per share determining cost behavior profit planning 3. What activities and responsibilities are not associated with management's functions? Planning Accountability Controlling Directing 4. A materials requisition slip showed that direct materials requested were $66,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is Work In Process Inventory 66,000 Raw Materials Inventory 66,000 Direct Materials 66,000Indirect Materials 9,000Work in Process Inventory 75,000 Manufacturing Overhead 75,000Raw Materials Inventory 75,000 Work In Process Inventory 66,000Manufacturing Overhead 9,000Raw Materials Inventory 75,000 5. Which one of the following is a source document that impacts the job cost sheet? Raw materials receiving slips Materials purchase orders Labor time tickets Finished goods shipping documents 6. Equivalent units are calculated by multiplying the percentage of work done by the equivalent units of output dividing physical units by the percentage of work donemultiplying the percentage of work done by the physical units dividing equivalent units by the percentage of work done 7. In a process cost system, product costs are summarized: on job cost sheets on production cost reportsafter each unit is produced when the products are sold 8. In traditional costing systems, overhead is generally applied based on direct labor machine hours direct material dollars units of production 9. Fixed costs normally will not include property taxesdirect laborsupervisory salariesdepreciation on buildings and equipment 10. Companies recognize fixed manufacturing overhead costs as period costs (expenses) when incurred when using full costingabsorption costing product costing variable costing
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
Accounting problems, Draw a detailed timeline incorporating the dividends, calculate the exact Payback Period b) the discounted Payback Period. the IRR, the NPV, the Profitability Index.
Term Structure of Interest Rates
Write a report on Internal Controls
Prepare the bank reconciliation for company.
Create a cost-benefit analysis to evaluate the project
Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
Distinguish between liquidity and profitability.
Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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