Questions from General Accounting

Q: Distinguish between controllable and non-controllable costs.

Distinguish between controllable and non-controllable costs.

Q: How do responsibility reports differ from budget reports?

How do responsibility reports differ from budget reports?

Q: Sydney Greene asks for your help concerning the relevance of variable and

Sydney Greene asks for your help concerning the relevance of variable and fixed costs in incremental analysis. Help Sydney with her problem.

Q: What data are relevant in deciding whether to accept an order at

What data are relevant in deciding whether to accept an order at a special price?

Q: Emil Corporation has an opportunity to buy parts at $9 each

Emil Corporation has an opportunity to buy parts at $9 each that currently cost $12 to make. What manufacturing costs are relevant to this make-or-buy decision?

Q: Define the term “opportunity cost.” How may this cost be

Define the term “opportunity cost.” How may this cost be relevant in a make-or-buy decision?

Q: What is the decision rule in deciding whether to sell a product

What is the decision rule in deciding whether to sell a product or process it further?

Q: You are an accountant in the budgetary, projections, and special

You are an accountant in the budgetary, projections, and special projects department of Fernetti Conductor, Inc., a large manufacturing company. The president, Richard Brown, asks you on very short no...

Q: What are joint products? What accounting issue results from the production

What are joint products? What accounting issue results from the production process that creates joint products?

Q: In order to get your personal finances under control, you need

In order to get your personal finances under control, you need to prepare a personal budget. Assume that you have compiled the following information regarding your expected cash flows for a typical mo...