The accounting department of a manufacturing company is a(n)     investment center.     cost center.     segment.     profit center.

Q: 6.Discuss the components in detail of the following financial statements for a manufacturing PLC: a.…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: It measures the performance of company managers in term of generating profit from operations.

A: Profit from operations refers to the profit that a business or a company earns by selling its goods…

Q: provide an example of a function/operation that is a cost for a company

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: The financial manager most directly responsible for producing the company's financial statements and…

A: a) Treasurer: Treasurer is the person responsible for managing the treasure or funds of the…

Q: Which of the following accounting will help managers to ensure cost efficiency for the company? a.…

A: Solution: "Management Accounting" will help managers to ensure cost efficiency for the company.…

Q: 1. What types of costs are allocated? What is a support department? What is a producing department?…

A: Allocation refers to distribution of total overhead cost to the departments that have actually used…

Q: The profit and loss account in the manufacturing enterprise is the :- * a - first account. b -…

A: Manufacturing enterprise means the enterprise which is in the business of manufacturing and selling…

Q: Cost and management accounting OA. require and entirely separate group of accounts than financial…

A: Cost and management accounting aids companies in determining the costs of materials, projects, and…

Q: Describe a cost center, profit center, and investment center that one manufacturing company might…

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: From the choices presented in parentheses, choose the appropriate term for completing each of the…

A: Period costs: Period costs are the costs other than the product costs. These costs are not incurred…

Q: ow important profit center in managerial accounting

A: Profit Center - Profit Center is the individual unit operating independently from the main branch or…

Q: Financial statements are prepared in the light of applicable financial reporting framework. What is…

A: Financial statements are made at the year end with the help of trial balance.

Q: Managerial accounting is an activity that helps managers determine the costs of an organization's…

A: Managerial accounting is a process of analysing financial data , make  interpretation of that data…

Q: Direct cost is the cost incurred by the organization while performing their core business activity…

A: Lets understand the basics. Cost are dividend into two parts which are, (1) Direct cost (2) Indirect…

Q: A manufacturing company's income statement and balance sheet vary from a merchandising company's…

A: The income statement and balance sheet of a manufacturing firm are different from a retailing…

Q: Assume you have just been hired as the management accountant in charge of providing your firm's…

A: Value chain is the model of business, which states the activities full range required to create the…

Q: How can accounting con

A: these three steps can increase the capacity of of an accounting firm. Adopt a cloud-based platform…

Q: Costing systems and investment centres are two types of business segments that are entirely…

A: The excess of revenues over expenses is defined as the net profits of the organization. he cost of…

Q: Which of the following statements best describes a profit center?a. The responsibility for combining…

A: The profit center affects the major profit decisions of the authority that includes the choosing…

Q: What is the nature of cost management and how beneficial it is for the business?

A: Introduction:   Cost management is the process of planning and controlling a business's running…

Q: The most sector needs the cost accounting information is Select one: a. Manufacturing sector b. Bank…

A: Cost accounting information includes the information related to: Total Cost of producing the…

Q: The accounting department for Target Stores may be classified as a(n)     profit center.…

A: Accounting department is a department in the organisation which is responsible for all the…

Q: Which income statement is most appropriate for a manufacturing business

A: >Income Statement can be prepared as a:--#1: Single Step Income Statement, or--#2: Multi Step…

Q: Which of the following terms is commonly used to describe the departments within a company that…

A: Product cost: It refers to the costs that are incurred to manufacture a product involving the direct…

Q: importance of management accounting in decision making process for each department (production,…

A: Management accounting refers to the process of gathering, reporting, analyizng the information of…

Q: What is the full form of CIMA, the professional body controlling the profession of Cost Accounting?…

A: Introduction: CIMA: CIMA is Established in March , 1919 CIMA is the world largest Accounting body.

Q: The main focus of managerial accounting is: *

A: The primary target of administrative bookkeeping is help the administration organization in…

Q: Explain the importance of Activity Based Costing for Selling and Administrative Expenses on a…

A: Activity-based costing is a method of determining product costs that take into account indirect…

Q: How is cost accounting information used by management? Why is unit cost information important to…

A: Cost Accounting:-It is a method of calculating and assessing the cost and expenses related to the…

Q: Which of the following is not part of managerial accounting? Select one: O A reporting financial…

A: The accounting is a process to identify the business transactions, record the transactions and…

Q: 1. State whether the following questions is True (T) or False (F): a. Cost accounting looks at the…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Explain and describe the various costing methods used in management accounting

A: Various costing approaches are used in management accounting to help a company become more organized…

Q: The branch of accounting that deals in particular with the different cost concepts in order to…

A: Accounting is a process of identifying, recording, classifying, summarising and analysing business…

Q: Cost accountancy

A: Cost accountancy is the application of cost accounting principles, methods and techniques to…

Q: Activity Based Costing to report product costs in financial statements

A: Activity Based Costing is a costing method to allocate overheads to products or operations or jobs.

Q: Describe the types of cost data they would collect and explain the importance of analyzing this cost…

A: Different types of costs are incurred in different business types. However, they are majorly…

Q: The purpose of preparing the manufacturing account is to calculate: O Gross profit O Manufacturing…

A: A manufacturing accounts shows the cost of material, labour and overheads in relation to production…

Q: cost center important in managerial accounting

A: A cost center is a division in an organization that adds cost to the organization. It does not…

Q: The cost centre investment centre is a business sector that is responsible for all of its income and…

A: The excess of revenues over expenses is defined as the net profits of the organization.

Q: Which of the following gives the basic factors of business operations of which their…

A: Cost volume profit relationship in the business says that there is a relationship exists between…

Q: How is a scatter diagram used to identify and measure the behavior of a company’s costs?

A: Answer: In the scatter diagram method represents the costs behavior graphically. By plotting all the…

Q: A responsibility center in which the department manager has responsibility for and authority over…

A: Costs might be traced to manufacturing and to specific locations within a business entity and…