Chapter 7: OverviewThe Master Budget: Profit Planning
Chapter 7 introduces the student to many aspects of budgeting, the benefits of budgeting, and how to
prepare budgets. The budgeting system provides a valuable accounting tool for planning and control o
Chapter 5: OverviewCost Behavior and Cost-Volume-Profit
Analysis
Chapter 5 focuses on a useful management tool: cost-volume-profit (CVP) analysis. Behaviors of costs
variable, fixed, and mixedare discussed and graphed. Two methods used to determine the sp
Chapter 10: Overview Short-Term Business Decisions
Chapter 10 begins by defining relevant information and irrelevant information. Relevant information is
expected future data that differ among alternative courses of action. Irrelevant information includes
Chapter 2: OverviewJob Order Costing
Chapter 2 presents a detailed discussion of job order costing, a special accounting system used for product costing
by companies that manufacture products as individual units or in distinct batches. It also applies to
Chapter 6: OverviewAbsorption and Variable Costing
Chapter 6 focuses on a useful management tool: absorption and variable costing income statements. The
chapter begins by distinguishing the key difference in the two methods: how the fixed manufacturing
co
Chapter 1: Overview Introduction to Management Accounting
Chapter 1 introduces students to management accounting, as distinguished from financial accounting.
Students learn about the information that managersthe decision makers inside the businessmust kno
Chapter 9: Overview Decentralization: Allocating Service
Department Costs and Responsibility Accounting
Chapter 9 focuses first on learning about shared resources and service departments. The chapter provides
some examples of shared resource departments a
Chapter 4: Overview Process Costing
Chapter 4 presents a detailed discussion of process costing. Process costing is a special accounting
system used for product costing by companies that use a series of steps (called processes) to make large
quantities of
Chapter 3: OverviewActivity-Based Costing and Other Cost
Management Tools
Chapter 3 introduces activity-based costing (ABC). The discussion begins with an explanation of why
activity-based costing is useful to businesses. Next, the four steps required for
Chapter 8: Overview Flexible Budgets and Standard Costs
Chapter 8 begins with a discussion of the static budget. The static budget, which is prepared for only one
level of volume, is compared to the flexible budget, which is a set of budgets covering a ra
ACCONTlNG FOR DECISION-MAKING QUESTIONS & WORKINGS
QUESTION 1 (20
MARKS)
1.1.
1.2.
1.3.
1.4.
1.5.
REQUIRED
Study the Statement of Comprehensive Income of Ascot Limited for the period 2012
to 2014 provided below and answer the following questions:
Calculat
