Question
I need help with these simple 9 questions please. if confusing understanding go to attached file. 22. Explain what is meant by profit rich, yet
I need help with these simple 9 questions please. if confusing understanding go to attached file.
22. | Explain what is meant by "profit rich, yet cash poor". +3pts
| ||||||||||||||||||||
23. | There will be a favorable materials price variance if: +2pts
| ||||||||||||||||||||
24. | Greenleaf's flexible budget for June, based on actual output, called for the use of 10,000 square feet of materials at a standard cost of $9.90 per square foot. Company records show that the actual price paid for the materials used in June was $9.70 per square foot, and that the direct materials price variance for the month was $2,090 favorable. The materials quantity variance for Greenleaf's June operations was: +3pts
| ||||||||||||||||||||
| Maple Company's flexible budget, based upon the number of equivalent units produced, called for the use of 5,000 square yards of fabric at a standard cost of $2.45 per square yard. The Production Department actually used 5,200 square yards costing $2.35 per square yard during June.
| ||||||||||||||||||||
25. | Refer to the information above. The materials price variance for Maple Company for June is: +3pts
| ||||||||||||||||||||
27. | Identify the criticisms of using ROI (Return on investment) as the only performance measure. +5pts
| ||||||||||||||||||||
28. | Explain the importance of incentive systems for motivating performance. +5pts
|
30. | Accounting terminology Listed below are nine technical accounting terms introduced or emphasized in this chapter: +2pts Each of the following statements may (or may not) describe one of these technical terms. In the space provided beside each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms. ____ (a) The amount by which sales revenue exceeds total variable cost expressed as a percentage of sales. ____ (b) The amount by which sales volume exceeds the break-even point. ____ (c) The study of financial statements by a potential investor or creditor as a means of evaluating the profitability and solvency of a business. ____ (d) A type of activity that has a causal effect in the occurrence of a particular cost. ____ (e) The level of sales at which revenue equals operating expenses. ____ (f) A cost that responds to changes in sales volume by less than a proportionate amount. ____ (g) A mathematical technique used to determine the fixed and variable elements of a mixed or semi-variable cost.
|
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started