View the step-by-step solution to:

Which of the following is true about the differences between financial and managerial accounting?

I have a document with 8 questions.  I need assistance in about 2 hours.  How much would extra would it cost to get assistance in this time frame?  These are finance questions.  I need 100% accuracy.

Which of the following is true about the differences between financial and managerial accounting? Managerial accounting presents less non-monetary information than financial accounting Managerial accounting cannot deviate from generally accepted accounting principles Managerial accounting places more emphasis on the future Managerial accounting presents information in a highly summarized form Elroy Rocket is entering his senior year as an accounting major and has a number of options for his summer break. His options for the 3 month break follow: (1) Work full time at a local accounting firm making $2,200 per month. (2) Take a summer class which will cost $800 and work half time making $1,100 per month. (3) Take a class at a cost of $800 and not work at all during the summer. Elroy's incremental profit or loss if he chooses option 2 over option 1 would be Triton Company's copy department, which does almost all of the photocopying for the sales department and the administrative department, budgets the following costs for the year, based on the expected activity of copies: Salaries (fixed) $86,250 Employee benefits (fixed) 10,000 Depreciation of copy machines (fixed) 10,000 Utilities (fixed) 5,000 Paper (variable, 1 cent per copy) 50,000 Toner (variable, 1 cent per copy) 50,000 The costs are assigned to two cost pools, one for fixed and one for variable costs. The costs are then assigned to the sales department and the administrative department. Fixed costs are assigned on a lump- sum basis, 40 percent to sales and 60 percent to administration. The variable costs are assigned at a rate of 2 cents per copy. Assuming the following copies were made during the year, 2,714,500 for sales and 3,169,000 for administration, calculate the copy department costs allocated to sales. Which organizational officer is directly responsible for managing a company's cash and funds invested in various marketable securities?
Background image of page 1
Controller Treasurer CIO CFO Mama Italiano Sauce is in the process of preparing a production cost budget for May. The actual costs in April were: Mama Italian Sauce Production Cost Budget April 2008 Production - Jars of sauce 20,000 Ingredient cost (variable) $16,000 Labor cost (variable) 9,000 Rent (fixed) 4,000 Depreciation (fixed) 6,000 Other (fixed) 1,000 Total $36,000
Background image of page 2
Show entire document

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question