Questions from Managerial Accounting

Q: Distinguish between direct material and indirect material.

Distinguish between direct material and indirect material.

Q: Why does a manufacturing company require three different inventory categories?

Why does a manufacturing company require three different inventory categories?

Q: Manufacturing activities of a company are described in the _______. This statement

Manufacturing activities of a company are described in the _______. This statement summarizes the types and amounts of costs incurred in its manufacturing _______.

Q: What are the three categories of manufacturing costs?

What are the three categories of manufacturing costs?

Q: List several examples of factory overhead.

List several examples of factory overhead.

Q: Both Polaris and Arctic Cat provide warranties on the products they sell

Both Polaris and Arctic Cat provide warranties on the products they sell. Accurate estimatesof these future warranty claims are important. Access the annual report or 10-K for both Polaris (from Appe...

Q: List the four components of a manufacturing statement and provide specific examples

List the four components of a manufacturing statement and provide specific examples of each for Polaris.

Q: Prepare a proper title for the annual “manufacturing statement” of

Prepare a proper title for the annual “manufacturing statement” of Arctic Cat. Does the date match the balance sheet or income statement? Why?

Q: Describe the relations among the income statement, the manufacturing statement,

Describe the relations among the income statement, the manufacturing statement, and a detailed listing of factory overhead costs.

Q: Define and describe two measures to assess raw materials inventory management.

Define and describe two measures to assess raw materials inventory management.