Questions from General Accounting

Q: Identify each of the following costs as either a product cost or

Identify each of the following costs as either a product cost or a period cost. ______ 1. Factory maintenance ______ 2. Sales commissions ______ 3. Depreciation—Factory equipment ______ 4. Depreciatio...

Q: The left column lists the titles of documents and accounts used in

The left column lists the titles of documents and accounts used in job order costing. The right column presents short descriptions of the purposes of the documents. Match each document in the left col...

Q: Prepare a proper title for the annual schedule of cost of goods

Prepare a proper title for the annual schedule of cost of goods manufactured of Google. Does the date match the balance sheet or income statement? Why?

Q: Describe the relations among the income statement, the schedule of cost

Describe the relations among the income statement, the schedule of cost of goods manufactured, and a detailed listing of factory overhead costs.

Q: Samsung is thinking of expanding sales of its most popular smartphone model

Samsung is thinking of expanding sales of its most popular smartphone model by 65%. Should we expect its variable and fixed costs for this model to stay within the relevant range? Explain.

Q: Does the manager of a Samsung distribution center participate in long-

Does the manager of a Samsung distribution center participate in long-term budgeting? Explain.

Q: Assume that Samsung’s consumer electronics division is charged with preparing a master

Assume that Samsung’s consumer electronics division is charged with preparing a master budget. Identify the participants— for example, the sales manager for the sales budget—and describe the informati...

Q: Samsung monitors its overhead. In an analysis of overhead cost variances

Samsung monitors its overhead. In an analysis of overhead cost variances, what is the controllable variance and what causes it?

Q: How can the manager of advertising sales at Google use flexible budgets

How can the manager of advertising sales at Google use flexible budgets to enhance performance?

Q: Assume that Samsung is budgeted to operate at 80% of capacity

Assume that Samsung is budgeted to operate at 80% of capacity but actually operates at 75% of capacity. What effect will the 5% deviation have on its controllable variance? Its volume variance?