...Christopher Dark ACC350-1302A-04 Phase 2 Project In managerial accounting there are two types of cost information, variable and fixed costs. Variable costs are costs that change when some variable used in the cost to produce a product changes. For example if you were in the business of producing knives, then the price of the metal used to manufacture those knives would be your variable cost. Another variable cost that has to be accounted for in the cost of manufacturing is labor costs and supply costs. So the variable cost for each knife manufactured would equal the variable cost of metal + the variable cost of labor + the variable cost of supplies. Once you have calculated those costs you can take the total and multiply it by the total number of knives you wish to manufacture and you have your variable cost of knives. Fixed costs are costs that are not dependant on materials used in manufacturing and are dependent on an amount of resource that is required. An example of a fixed cost would be depreciation expense or salaries paid. Cost information can determine many variables in a company, the first variable being pricing of products. In most businesses the market determines the price and supply and demand play a big role in this determination. If supply is low and demand is high the price will most likely be a lot higher than if supply is high and demand is low. Businesses also use cost plus pricing where and organization can set its price according to product cost...
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...Running head: Phase 1 Individual Project Phase 1 Individual Project Theoda Sanders Jr. ACC350-1204B-01 Managerial Accounting Practices Instructor: Alice Sineath 26 November 2012 The functional goal of managerial accounting should be and is for business managers to a very clear snapshot picture of a company or business financial and statistical information. In turn this enables them to be more inform on how to properly do their job. The accounting system is the major information system in almost every company and it should provide information to three detrimental areas for varies important usage: 1. Internal reporting in which a manager uses to plan and control a company daily business functions. 2. Secondly, internal reporting helps to create future planning of different policies for a company 3. External reporting to all stock investors of the company, government, some interested outside entities, tax collecting or all used to make business decisions by people that are investors in the company. Accounting is the heart of any company and make or break it. Today the cost to be the boss or should correctly say cost analysis for business or company successful operation is called the management accounting. It covers the information of the company and what’s the accountant role is. The person that really governs the manager’s precise decision making is a management accountant. Their job is to breakdown and put together the reasoning...
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...Your names: ___________________ Class time: ___________________ ACC350 - HW #7 (Chapter 10) Solutions Wednesday, October 23, 2013 Multiple Choice Questions 1. CD Productions needs to know its anticipated cash inflows for the next quarter by month. Cash sales are 10 percent of total sales each month. Historically, sales on account have been collected as follows: 60 percent in the month of sale, 30 percent in the month after the sale, and the remaining 10 percent two months after the sale. Sales for the quarter are projected as follows: April, $120,000; May, $100,000; and June, $80,000. Accounts receivable on March 31 were $60,000. CD Productions would expect to have an accounts receivable balance on June 30 of a. $37,800 (90,000x0.1 (receivables from May sales) + 72,000x0.4 (receivables from June sales)). b. $42,000. c. $32,000. d. $28,800. 2. Which of the following changes would NOT change return on investment (ROI)? a. Decrease sales and expenses by the same percentage. b. Increase total assets. c. Increase sales dollars by the same amount as total assets. d. Decrease sales and expenses by the same dollar amount. 3. Beta Division had the following information: Av. operating assets in Beta Division $400,000 Operating income in Beta Division $50,000 Weighted average cost of capital 12% Minimum required rate of return 15% Operating Income Margin for Beta Division 20% What is the turnover ratio for Beta...
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...Assignment 2: Price Analysis for the Navigation System Robert Gonzalez Professor Stephen Bartorillo BUS 315: Cost and Price Analysis July 26, 2015 Analyze your company’s cost classification for pricing of the navigation system. Defend your cost classification to the US government. Considering that our only competitor in the field of navigation systems is VectorCal, it was important for us to carefully determine pricing that was, not only competitive enough to beat the competition, but affordable enough to increase customer demand. Our Analysts have worked diligently in reviewing the cost to manufacture our product from all different angles and scenarios in order to create a price that meets the terms of the contract and allow us to continue to earn reasonable profits for the business. At Autobots, we employ 23 highly-skilled technicians that utilize the raw materials that go into manufacturing our system. Those direct costs can be traced back to our finished product, the M-2300, because we can account for the raw materials used and what was spent on hourly wages for our technicians. The business also employs a management team that is knowledgeable in the field of navigation systems and in overseeing large projects and an operation such as ours. This team we keep on salary and cannot trace their contributions to the project back to the finished product, so we have divided their salaries as indirect costs into several different divisions within the company. We rent our facilities...
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...essential to that decision-making process. In this memo, we will review the basic financial statements that must be submitted to the Board of Directors and executives, as well as what each statement contains. Furthermore, we will evaluate how the information contained within these statements will be useful for the management as far as helping them in the enterprise management. As in most processes, there is maximum and minimum that can be achieved, therefore we will review specific limitations of the information provided within these statements. In addition, management team must be aware of the possible information limitations, as well as how they can make sure that they receive whole picture of the enterprise. * Some work repurposed from ACC350-1101B-01, Instructor: Johnnie Bannier, 2/17/2011 Basic Financial Statements This memo will address the basic financial statements that must be submitted to the Board of Directors and executives of SAC, as well as what each statement does and contains within. Furthermore, we will evaluate how the information contained within these statements will be useful for the management as far as helping them in the enterprise management. As in most processes, there can be limitations, therefore we will review specific limitations of the information provided within each statement. In addition, management team must be aware of these possible limitations, as...
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...Intermediate Accounting 14e Intermediate Accounting 14e Intermediate Accounting 14e Microcomputer Applications for Accounting Excel 2010 Microsoft® Excel 2010: A Case Approach, Complete, 1st Edition, copyright 2011 SOUTH WESTERN FEDERAL TAXATION 2012: COMPREHENSIVE, 36th ed. South-Western Federal Taxation 2013: Corporations, Partnerships, Estates and Trusts, 36th Edition Cost Accounting 13th 09 ed. Advanced Accounting 4th 10th ed. Auditing & Assurance Services 13th 10 ed. Core Concepts of Government and Not for Profit Accounting 2nd ed., 2011 ed ACC 499: Accounting Capstone: Custom Edition Author Weygandt, Kimmel & Kieso Weygandt, Kimmel & Kieso Kieso Kieso Kieso O’Leary Publisher Wiley Wiley Wiley Wiley Wiley McGraw Hill ACC307 ACC317 ACC350 ACC401 ACC403 ACC410 ACC499 Hoffman Hoffman Horngren Jeter Arens Granof Selected chapters from accounting texts Pope Weygandt Weygandt Knapp & Rittenburg Schroeder Romney Pope Cengage...
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...| | | |Equivalent Modules Master List |Equivalent courses offered at Aalto University, School Of Economics. | | | | | |Courses offered are subject to changes. | | |Updated information on the courses will be sent to successful candidates by Aalto | | |University, School Of Economics. | | | | | |*The same course can be transferred only as 1 course. | |First Level Modules | | |ACC1006 Accounting Information Systems |International...
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