Questions from Financial Accounting

Q: Royal Technology Company uses a job order cost system. The following

Royal Technology Company uses a job order cost system. The following data summarize the operations related to production for March: A. Materials purchased on account, $770,000. B. Materials requisitio...

Q: Explain the meaning of (A) differential revenue,

Explain the meaning of (A) differential revenue, (B) differential cost, and (C) differential income.

Q: When using the negotiated price approach to transfer pricing, within what

When using the negotiated price approach to transfer pricing, within what range should the transfer price be established?

Q: Explain why service companies use different activity bases than manufacturing companies to

Explain why service companies use different activity bases than manufacturing companies to classify costs as fixed or variable.

Q: Do the terms debit and debit and debit credit signify increase or

Do the terms debit and debit and debit credit signify increase or credit signify increase or credit decrease or can they signify either? Explain.

Q: Briefly discuss the differences between (A) adoption of IFRS

Briefly discuss the differences between (A) adoption of IFRS by the U.S. Securities and Exchange Commission and (B) convergence of U.S. GAAP with IFRS.

Q: Which type of manufacturing cost (direct materials, direct labor,

Which type of manufacturing cost (direct materials, direct labor, variable factory overhead, fixed factory overhead) is included in the cost of goods manufactured under the absorption costing concept...

Q: Which of the following costs would be included in the cost of

Which of the following costs would be included in the cost of a manufactured product according to the variable costing concept: (A) rent on factory building, (B) direct materials, (C) property taxes o...

Q: In the variable costing income statement, how are the fixed manufacturing

In the variable costing income statement, how are the fixed manufacturing costs reported, and how are the fixed selling and administrative expenses reported?

Q: Since all costs of operating a business are controllable, what is

Since all costs of operating a business are controllable, what is the significance of the term non controllable cost?