Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

if you're not gonna answer all the questions please just don't even answer any of them I am posting all the questions for a reason.

if you're not gonna answer all the questions please just don't even answer any of them I am posting all the questions for a reason. incomplete answers will get down voted regardless
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
When is it most likely necessary to have corrective action taken on a variance that is a favorable variance? Select an answer: when the variance is a favorable labor rate variance when the variance is a favorable price variance when the variance is a favorable labor efficiency variance when the variance is a favorable materials quantity variance Slin Question 4 of 23 Why is it important that you have a firm grasp on how costs are accounted for in service industries? Select an answer Service industries are relics that still exist from a former and failed sector of the US economy, Service industries do not have overhead and labor costs when soling their services. Service industries are the fastest growing sector of the US economy Service industries have nothing in common with manufacturing companies Skip Previous How does having a good cash budget help a company that anticipates a short-term cash deficiency a few months into the future? Select an answer: It will be easier for the company to get a bank loan in advance of when the cash is needed. The company can use the lag time to increase its owner's equity. It will be easier for the company to get a bank loan if it waits until the cash is needed The company can use the lag time to turn its receivables into cash. FabCo is a company that stamps automobile fenders from sheet steel. How should FabCo categorize the rubber bumpers it replaces in its monthly maintenance on pressing machines? Select an answer period costs direct labor manufacturing overhead direct materials Skip Previous What are the two primary questions a business should ask when it considers an investment? Select an answer: Does the investment make sense, and will the investment result in future income? Does the investment involve cash, and is it the best among acceptable alternatives? Does the investment involve cash, and will the investment provide future income? Does the investment make sense, and is it the best among acceptable alternatives? Skip Previous What is capital budgeting? Select an answer: a comparison of current operating costs to multi-year operating costs a comparison of the magnitude of upfront cost to the magnitude of estimated future multi-year benefits a comparison of yearly cash budgets with the firm's master budget a comparison of capital outlays to opportunity costs Skip Drevious After overhead cost activities are identified in an activity-based costing system, what is the next step? Select an answer Make decisions regarding overhead costs. Analyze individual overhead costs. Identify measurable cost drivers. Assign overhead to activities. Skip Previous in a service firm is equivalent to the production of a manufacturing firm for terms of the budgeting process. Select an answer: Sales volume Selling expense Wages and salaries Administrative expense Skip

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Business

Authors: Peter Scott

2nd Edition

0198719868, 9780198719861

More Books

Students also viewed these Accounting questions