Questions from General Accounting

Q: Three phases of the management process are controlling, planning, and

Three phases of the management process are controlling, planning, and decision making. Match the following descriptions to the proper phase:

Q: a. What are the two variances between the actual cost and

a. What are the two variances between the actual cost and the standard cost for direct labor? b. Who generally has control over the direct labor cost variances?

Q: If variances are recorded in the accounts at the time the manufacturing

If variances are recorded in the accounts at the time the manufacturing costs are incurred, what does a debit balance in Direct Materials Price Variance represent?

Q: Briefly explain why firms might use nonfinancial performance measures.

Briefly explain why firms might use nonfinancial performance measures.

Q: Several items are omitted from the income statement and cost of goods

Several items are omitted from the income statement and cost of goods manufactured statement data for two different companies for the month of December. Instructions 1. Determine the amo...

Q: During Year 1, its first year of operations, Galileo Company

During Year 1, its first year of operations, Galileo Company purchased two available-for- sale investments as follows: Assume that as of December 31, Year 1, the Hawking Inc. stock had a...

Q: Explain the meaning of each of the following terms as they relate

Explain the meaning of each of the following terms as they relate to a bond issue: (a) convertible and (b) callable.

Q: Ginocera Inc. is a designer, manufacturer, and distributor of

Ginocera Inc. is a designer, manufacturer, and distributor of low ­ cost, high ­ quality stainless steel kitchen knives. A new kitchen knife series called the Kitchen Ninja was released for production...

Q: Lexigraphic Printing Company is considering replacing a machine that has been used

Lexigraphic Printing Company is considering replacing a machine that has been used in its factory for four years. Relevant data associated with the operations of the old machine and the new machine, n...

Q: a. Where should a declared but unpaid cash dividend be reported

a. Where should a declared but unpaid cash dividend be reported on the balance sheet? b. Where should a declared but unissued stock dividend be reported on the balance sheet?