Questions from Managerial Accounting

Q: What is the difference between a product and a service? Give

What is the difference between a product and a service? Give an example of each.

Q: Identify the three forms of accounting certification. Which form of certification

Identify the three forms of accounting certification. Which form of certification do you believe is best for a managerial accountant? Why?

Q: Describe the difference between the units sold approach to CVP analysis and

Describe the difference between the units sold approach to CVP analysis and the sales revenue approach.

Q: Explain why contribution margin per unit becomes profit per unit above the

Explain why contribution margin per unit becomes profit per unit above the break-even point.

Q: Suppose a firm with a contribution margin ratio of 0.3

Suppose a firm with a contribution margin ratio of 0.3 increased its advertising expenses by $10,000 and found that sales increased by $30,000. Was it a good decision to increase advertising expenses?...

Q: Jellico Inc.’s projected operating income (based on sales of

Jellico Inc.’s projected operating income (based on sales of 450,000 units) for the coming year is as follows: Total Sales …………………………………………………… $11,700,000 Total variable cost …………………………………… 8,190,00...

Q: Suppose that Adams Company sells a product for $20. Unit

Suppose that Adams Company sells a product for $20. Unit costs are as follows: Direct materials …………………………………………………….. $1.90 Direct labor …………………………………………………………….. 1.40 Variable factory overhead …………...

Q: For each of the following independent situations, calculate the amount(

For each of the following independent situations, calculate the amount(s) required. Required: 1. At the break-even point, Jefferson Company sells 115,000 units and has fixed cost of $349,600. The var...

Q: The controller of Pelley Company prepared the following projected income statement:

The controller of Pelley Company prepared the following projected income statement: Sales ……………………………………………………………….. $95,000 Total variable cost ……………………………………………… 68,400 Contribution margin ……………………...

Q: Werner Company produces and sells disposable foil baking pans to retailers for

Werner Company produces and sells disposable foil baking pans to retailers for $2.75 per pan. The variable cost per pan is as follows: Direct materials …………………………………………………… $0.37 Direct labor …………………...