Questions from Managerial Accounting

Q: Why would management be concerned about the accuracy of product costs?

Why would management be concerned about the accuracy of product costs?

Q: How does the “Cost of goods sold” section of the

How does the “Cost of goods sold” section of the income statement differ between retail and manufacturing companies?

Q: Rockport Industries Inc. gathered the following data for March:

Rockport Industries Inc. gathered the following data for March: a. Compute the revenue price variance. b. Compute the revenue volume variance. c. Compute the total revenue variance.

Q: Dickinsen Company gathered the following data for December: /

Dickinsen Company gathered the following data for December: a. Compute the revenue price variance. b. Compute the revenue volume variance. c. Compute the total revenue variance.

Q: Rosenberry Company computed the following revenue variances for January: Revenue

Rosenberry Company computed the following revenue variances for January: Revenue price variance ……………. $(350,000) Favorable Revenue volume variance …………… 50,000 Unfavorable Assuming that the planned s...

Q: Lowell Manufacturing Inc. has a normal selling price of $20

Lowell Manufacturing Inc. has a normal selling price of $20 per unit and has been selling 125,000 units per month. In November, Lowell Manufacturing decided to lower its price to $19 per unit expectin...

Q: Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage

Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: At the beginning of March, Salisburyâ...

Q: The following data relate to the direct materials cost for the production

The following data relate to the direct materials cost for the production of 50,000 automobile tires: Actual: …………………… 725,000 lbs. at $3.00 per lb. Standard: ……………….. 730,000 lbs. at $2.95 per lb. a....

Q: De Soto Inc. produces tablet computers. The company uses Thin

De Soto Inc. produces tablet computers. The company uses Thin Film Crystal (TFC) LCD displays for its products. Each tablet uses one display. The company produced 770 tablets during July. However, due...

Q: H.J. Heinz Company uses standards to control its materials

H.J. Heinz Company uses standards to control its materials costs. Assume that a batch of ketchup (7,650 pounds) has the following standards: The actual materials in a batch may vary from the standard...