Sales Budget Layout
Expected unit sales
Unit Selling Price x
Production Budget Layout
Expected unit sales
Add: Desired ending finished goods inventory
Total Required units
Less: Beginning finishe
January 26, 2017
Identify various managerial accounting practices.
(LO 4), C
The following is a list of terms related to managerial accounting practices.
1. Activity-based costing.
2. Just-in-time inventory.
3. Balanced sco
4.3. Some people believe database technology may eliminate the need for double-entry accounting.
This creates three possibilities: (1) the double-entry model will be abandoned; (2) the double-entry
model will not be used directly, but an external-level sc
Our group will be focusing on the topic of pets and how they affect happiness and
productivity in individuals. We will be asking questions about if an individual has a pet,
how much time they spend with that pet and how they feel when with thei
1. Material cost ($30 per board)
2. Labor costs ($40 per board)
3. Depreciation on factory equipment
($25,000 per year)
4. Property taxes on factory building ($6,000
5. Advertising costs ($60,000 per year)
6. Sales commissions ($20 per
Chapter 2 Section 2 Notes & Examples
Companies assign raw materials costs to jobs when their materials storeroom issues the materials in response to
requests. Requests for issuing raw materials are made on a prenumbered materials requisition slip.
Name: Graham Bargeron
P2-3A Prepare entries in a job cost system and cost of goods
Managerial Accounting, 6th Edition, by Weygandt, Kieso, and Kimmel
Primer on Using Microsoft Excel in Accounting by
1.Auto Parts is a division of MPI International, located in Wadena, Saskatchewan. Auto Parts
manufactures various automobile parts, such as bumpers, fenders, and axles, and sells them to major
auto manufacturers. The division and its management are evalua
9.Determining the Utilization of a constrained resource
1) DM reqrd/Unit* 39.60 24.75 14.85
2) Cost per KG*
3) KG req/Unit 12 $8
52.80 23.10 34.65
5)CM/KG of USED 6.60
Priority C to A to B
Ch 4 Indiv Tax Overview, Exemptions, Filing Status
1. All of the following are for AGI deductions except:
A. Moving expenses.
B. Rental and royalty expenses.
C. Business expenses for a self-employed taxpayer.
D. Charitable contributions.
2. Which of the f
Ch 6 Practice MC Questions (correct answers are bolded)
1. Michelle is an active participant in the rental condominium property she owns. During the year, the property
generates a ($15,000) loss; however, Michelle has sufficient tax basis and at-risk amou
Ch 7 Practice MC Questions (correct answers are bolded)
1. Which of the following costs are deductible as an itemized medical expense?
A. The cost of prescription medicine and over-the-counter drugs.
B. Medical expenses incurred to prevent disease.
Ch 10 Practice MC
Ch 9 Practice MC
Practice MC Ch 12 and Ch 13
Which legal entity provides the least flexible legal arrangement for owners?
D. Sole Proprietorship
Janie is a partner in Triple J Partnership and receives a $5,000 cash distribution (
Ch 2 Tax Compliance, IRS, Tax Authorities
If Paula requests an extension to file her individual tax return, the latest date she could file her return without
A. September 15th.
B. October 15th.
C. August 15th.
D. November 15th.
E. None of t
Department of the Treasury
Internal Revenue Service
U.S. Income Tax Return for an S Corporation
OMB No. 1545-0123
Do not file this form unless the corporation has filed or is
attaching Form 2553 to elect to be an S corporation.
a Information ab
Profit or Loss From Business
OMB No. 1545-0074
about Schedule C and its separate instructions is at www.irs.gov/schedulec.
a Attach to Form 1040, 1040NR, or 1041; partnerships generally must file Form 1065
The classified balance sheet will show which asset subsections?
current liabilities and short-term assets
current assets and other equity
current assets and property, plant, and equipment
other revenues and property, plant and equipment
Use the adjusted t
In the chart of accounts, the balance sheet accounts are normally listed in which order?
assets, owner's equity, liabilities
liabilities, assets, owner's equity
owner's equity, assets, liabilities
assets, liabilities, owner's equity
The owner's equity wil
On May 20, White Repair Service extended an offer of $108,000 for land that had been priced for sale
at $140,000. On May 30, White Repair Service accepted the seller's counteroffer of $115,000. On June
20, the land was assessed at a value of $95,000 for p