Questions from Cost Accounting

Q: For each of the following items, identify which of the management

For each of the following items, identify which of the management accounting guidelines applies: cost–benefit approach, behavioral and technical considerations, or different costs for different purpos...

Q: Management accounting should not fit the straitjacket of financial accounting.” Explain

Management accounting should not fit the straitjacket of financial accounting.” Explain and give an example.

Q: The following information was extracted from the accounting records of Roosevelt Manufacturing

The following information was extracted from the accounting records of Roosevelt Manufacturing Company: Direct materials purchased 80,000  Direct materials used 76,000  Direct manufacturing labo...

Q: What are two possible sources of information a company might use to

What are two possible sources of information a company might use to compute the budgeted amount in variance analysis?

Q: Distinguish between a favorable variance and an unfavorable variance.

Distinguish between a favorable variance and an unfavorable variance.

Q: Why might managers find a flexible-budget analysis more informative than

Why might managers find a flexible-budget analysis more informative than a static-budget analysis?

Q: List four reasons for using standard costs.

List four reasons for using standard costs.

Q: What is the advantage of using computerized source documents to prepare job

What is the advantage of using computerized source documents to prepare job-cost records?

Q: Describe four decisions for which ABC information is useful.

Describe four decisions for which ABC information is useful.

Q: The sales forecast is the cornerstone for budgeting.” Why?

The sales forecast is the cornerstone for budgeting.” Why?