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Walden Green provides custom farming services to owners of five-acre wheat fields. In July, he earned $2,400 by cutting, turning, and baling 3,000 bales. In the same month, he incurred the following costs: gas, $150; tractor maintenance, $115; and labor, $600. His annual tractor depreciation is $1,500. What was Green's cost per bale? What was his revenue per bale? Should he increase the amount he charges for his services?
What are the advantages and disadvantages of standard costing in management accounting?
How many units require to be sold in order to break-even? Compute the raise in net income if an additional 1,000 units over the break-even point are sold.
What are some of the nonfinancial measures provided by managerial accounting to assist managers in the decision-making process?
What are internal and external environmental factors that affect an environmental management system (EMS)? Which factors create the greatest challenge in planning an EMS? How could an EMS benefit healthcare organization?
Write down the benefits of standard costs and how do businesses set those standards.
or what other business decisions may it be impossible to calculate the actual cost? What are some of the dangers of basing decisions on estimated rather than actual costs? How might these dangers be minimized?
Mad Dog Enterprises manufactures computer game control devices like joysticks and steering wheels. Following is the list of the costs incurred by Mad Dog in 2009:
Calculate the firm's cash conversion cycle. Calculate the firm's operating cycle Calculate the daily expenditure and the firm's annual savings if the operating cycle is reduced by 15 days.
Calculate the total contribution margin for 2000 and contribution margin percentage. Describe why the contribution margin differs from the gross margin.
Compares and contrasts management and financial accounting along at least 4 different criteria. Discusses how management accounting could specifically help the CEO control the company's performance.
Phoenix Manufacturers makes blank computer disks. It takes one-eighth of a pound of direct materials and one minute of direct labor at standard per disk. Direct materials cost $2.60 per pound at standard, and the standard direct labor rate is $6.0..
Needham Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Needham for 2008 are as follows:
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