Test bank and solution manual for ch02 cost concepts and behavior (1)
➤ Gửi thông báo lỗi ⚠️ Báo cáo tài liệu vi phạmNội dung chi tiết: Test bank and solution manual for ch02 cost concepts and behavior (1)
Test bank and solution manual for ch02 cost concepts and behavior (1)
Chapter 02 • Cost Concepts and BehaviorChapter 02 Cost Concepts and BehaviorSolutions to Review Questions2-1.Cost is a more general term that refers t Test bank and solution manual for ch02 cost concepts and behavior (1)to a sacrifice of resources and may be either an opportunity cost or an outlay cost An expense is an outlay cost charged against sales revenue in a particular accounting period and usually pertains only to external financial reports.2-2.Product costs are those costs that are attributed to units of p Test bank and solution manual for ch02 cost concepts and behavior (1)roduction, while period costs are all other costs and are attributed to time periods.2-3.Outlay costs are those costs that represent a past, current,Test bank and solution manual for ch02 cost concepts and behavior (1)
or future cash outlay. Opportunity cost is the value of what Is given up by choosing a particular alternative.2-4.Common examples include the value foChapter 02 • Cost Concepts and BehaviorChapter 02 Cost Concepts and BehaviorSolutions to Review Questions2-1.Cost is a more general term that refers t Test bank and solution manual for ch02 cost concepts and behavior (1)ity. In this case, a sale to one customer precludes a sale to another customer.2-5.Yes. The costs associated with goods sold in a period are not expected to result in future benefits. They provided sales revenue for the period in which the goods were sold; therefore, they are expensed for financial Test bank and solution manual for ch02 cost concepts and behavior (1)accounting purposes.2-6.The costs associated with goods sold are a product cost for a manufacturing firm. They are the costs associated with the produTest bank and solution manual for ch02 cost concepts and behavior (1)
ct and recorded in an inventory account until the product is sold.44958c 2014 by McGraw-Hill Educatrou ĩhi« Ũ proprietary material solely for authorizChapter 02 • Cost Concepts and BehaviorChapter 02 Cost Concepts and BehaviorSolutions to Review Questions2-1.Cost is a more general term that refers t Test bank and solution manual for ch02 cost concepts and behavior (1)or ported on a website. Ill whole or part.Chapter 02 - Cost Concepts and Behavior2-7.Both accounts represent the cost of the goods acquired from an outside supplier, which include all costs necessary to ready the goods for sale (in merchandising) or production (in manufacturing).The merchandiser exp Test bank and solution manual for ch02 cost concepts and behavior (1)enses these costs as the product is sold, as no additional costs are incurred. The manufacturer transforms the purchased materials into finished goodsTest bank and solution manual for ch02 cost concepts and behavior (1)
and charges these costs, along with conversion costs to production (work in process inventory). These costs are expensed when the finished goods are Chapter 02 • Cost Concepts and BehaviorChapter 02 Cost Concepts and BehaviorSolutions to Review Questions2-1.Cost is a more general term that refers t Test bank and solution manual for ch02 cost concepts and behavior (1)erials. In some cases, materials are so immaterial in amount that they are considered part of overhead.Direct labor: Costs associated with labor engaged in manufacturing activities. Sometimes this is considered as the labor that is actually responsible for converting the materials into finished prod Test bank and solution manual for ch02 cost concepts and behavior (1)uct Assembly workers, cutters, finishers and similar "hands on” personnel are classified as direct labor.Manufacturing All other costs directly relateTest bank and solution manual for ch02 cost concepts and behavior (1)
d to product manufacture. These costs overhead:include the indirect labor and materials, costs related to the facilities andequipment required to carrChapter 02 • Cost Concepts and BehaviorChapter 02 Cost Concepts and BehaviorSolutions to Review Questions2-1.Cost is a more general term that refers t Test bank and solution manual for ch02 cost concepts and behavior (1)t of goods sold. Contribution margin is the difference between revenue (sales) and variable cost.2-10.Contribution margin is likely to be more important, because it reflects better how profits will change with decisions.2-11.Step costs change with volume in steps, such as when supervisors are added. Test bank and solution manual for ch02 cost concepts and behavior (1)Semivariable or mixed costs have elements of both fixed and variable costs, utilities and maintenance are often mixed costs.44959c 2014 by McGraw-HillTest bank and solution manual for ch02 cost concepts and behavior (1)
Education. Ulis IS propr.etaty material solely ter authorized instructor use. Not authorized tor sale or distribution in anymanner. Tins dccument mayChapter 02 • Cost Concepts and BehaviorChapter 02 Cost Concepts and BehaviorSolutions to Review Questions2-1.Cost is a more general term that refers tChapter 02 • Cost Concepts and BehaviorChapter 02 Cost Concepts and BehaviorSolutions to Review Questions2-1.Cost is a more general term that refers tGọi ngay
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