Management accounting is the process of measuring and
analyzing financial and non-financial information that is relevant to the
company. This is an important part of the
Controller’s function in an organization since the Controller directly reports
to the chief financial officer. The report contains pieces of information which
contributes in making strategic decisions to achieve the goal of the
organization.
Answer:
The ending inventory balance is $158,400
Explanation:
The computation of the amount that Plunkett should report in ending inventory is shown below:
= Ending balance - goods purchased under FOB destination - goods held on consignment
= $219,000 - $44,800 - $15,800
= $158,400
hence, the ending inventory balance is $158,400
we simply applied the above formula so that the correct value could come
Answer:
Explanation:
Goodwill is defined as the excess in amount of the purchase price of a company over the fair value at acquisition.It is intangible in nature , meaning it can not be physically separated from the other assets. Example are patent , brand name , good employee relation.
1.
Goodwill calculation
Purchase price - $2,500,000
Fair value - $1,800,000
Goodwill - $700,000
2.
No
Under the IAS 36, impairment of assets , goodwill is not amortized but annually tested for impairment as amortization is applicable to intangible assets with a definite useful life while intangible assets with indefinite useful life are annually tested for impairment to evaluate a loss in value experienced.
3
No
Under IAS 38 , Internally generated goodwill are not recognized as no related cost is incurred towards achieving a future benefit
Answer:
Direct labor hour per unit= 0.87 hours
Explanation:
Giving the following information:
A particular product requires 0.71 direct labor-hours per unit.
The allowance for breaks and personal needs is 0.04 direct labor-hours per unit. The allowance for cleanup, machine downtime, and rejects is 0.12 direct labor-hours per unit.
<u>The total direct labor hour per unit is the time required to produce one unit.</u>
Direct labor hour per unit= 0.71 + 0.04 + 0.12
Direct labor hour per unit= 0.87 hours
Answer:
A. Nonprogrammed; reflective; programmed; reactive
Explanation:
Programmed decisions are those which occur more frequently and are quickly executed, almost instinctly, without needing much of a thought process, by what we call the reactive system.
Nonprogrammed decisions are those that present unusual or new situations and require a deeper reflection and understanding of the issue. Those are processed via the reflective system in the brain.
Therefore, the correct answer is A. Nonprogrammed; reflective; programmed; reactive
