Questions from Survey Accounting

Q: a. Name two principal types of cost accounting systems.

a. Name two principal types of cost accounting systems. b. Which system provides for a separate record of each particular quantity of product that passes through the factory? c. Which system accumulat...

Q: a. Differentiate between the clock card and the time ticket.

a. Differentiate between the clock card and the time ticket. b. Why should the total time reported on an employee’s time tickets for a payroll period be compared with the time reported on the employee...

Q: a. What is the objective of just-in-time

a. What is the objective of just-in-time processing? b. How does just-in-time processing differ from traditional processing?

Q: Explain the meaning of (a) differential revenue,

Explain the meaning of (a) differential revenue, (b) differential cost, and (c) differential income.

Q: A company could sell a building for $650,000 or

A company could sell a building for $650,000 or lease it out for $5,000 per month. What would need to be considered in determining if the lease option would be preferred?

Q: Fabricator Inc., a specialized equipment manufacturer, uses a job order

Fabricator Inc., a specialized equipment manufacturer, uses a job order cost system. The overhead is allocated to jobs on the basis of direct labor hours. The overhead rate is now $3,000 per direct la...

Q: Why would the average rate of return differ from the internal rate

Why would the average rate of return differ from the internal rate of return on the same project?

Q: A company is offered incremental business at a special price that exceeds

A company is offered incremental business at a special price that exceeds the variable cost. What other issues must the company consider in deciding whether to accept the business?

Q: A company fabricates a component at a cost of $7.

A company fabricates a component at a cost of $7.75. A supplier offers to supply the same component for $6.15. Under what circumstances is it reasonable to purchase from the supplier?

Q: Many fast-food restaurant chains, such as McDonald’s, occasionally

Many fast-food restaurant chains, such as McDonald’s, occasionally discontinue restaurants in their system. What are some financial considerations in deciding to eliminate a store?