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please kindly help me for my assignment Managerial Accounting. thank you EXERCISE 1 1. Identify managers four primary responsibilities. 2. Distinguish financial accounting from managerial
please kindly help me for my assignment Managerial Accounting. thank you
EXERCISE 1 1. Identify managers four primary responsibilities. 2. Distinguish financial accounting from managerial accounting. 3. Describe organizational structure and the roles and skills required of management accountants within the organization, 4. Distinguish between a traditional & lean production system. 5. Distinguish among service, merchandising, and manufacturing companies. In Protected View Enable Editing EXERCISE 2 Complete the following statements with one of the terms listed here: You may use a term more than once and some terms may not be used at all. Differential Costs Irrelevant Costs Controllable costs Marginal Costs Fixed Costs Average Cost Uncontrollable Costs Sunk Costs Variable Costs 1. For decision-making purposes, costs that do not differ between alternatives are 2. Costs that have already been incurred are called 3. Managers cannot influence in the short run. 4. Total stay constant over a wide range of production volumes. 5. The..... wis the difference in cost between two alternative courses of action. 6. The product's is the cost of making one more unit. Total costs decrease when production volume decreases. 7. A product's and not the product's should be used to forecast total costs at different production volumes. HRM EXERCISE 3 Show how to compute cost of goods manufactured. Use the following amounts: Direct materials used $21,000 Direct labour $12,000 Manufacturing overhead $16.000 beginning work in process inventory $10.000 Ending work in process inventory $9.000 EXERCISE 4 Classify each of the following costs as fixed or variable: 1. Thread used by a garment manufacturer 2. Property tax on manufacturing facility 3. Yearly salaries paid to sales staff Gasoline used to operate delivery vans in Annual contract for pest (insect) control 6. Boxes used to package breakfast cereal at Kellogg's 8. Straight-line depreciation on production equipment Wages paid to lourly assembly-line workers in the manufacturing plant Monthly lease payment on administrative headquarters 9. 10. Annual business license fee from city
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