What is meant by the term non-value-added costs?

Q: Why aren’t common fixed costs allocated to segments under the contribution approach?

A: Contribution approach income statement segregates variable and fixed costs. In this approach contrib...

Q: Draper Consulting Inc. Income Statement Year Ended December 31, 2019 Sales Revenue   ...

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts f...

Q: A machine now in use that was purchased three years ago at a cost of $4,000 has a book value of $2,0...

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts f...

Q: The department responsible for approving pay rate changes is a. payroll b. treasurer c. personnel d....

A: Correct Option is “c”: Personnel. Personnel Department: This department is responsible for the chang...

Q: What is a plantwide overhead rate? Why are multiple overhead rates, rather than a plantwide overhead...

A: Plantwide overhead rate is a single overhead rate which is used by the company to allocate it's tota...

Q: The liabilities and owner’s equity of a company are $328,000 and $284,000, respectively.  Assets sho...

A: Given The assets and liabilities of the company are $328,000 and $284,000, respectively

Q: S&L Financial buys and sells securities expecting to earn profits on short-term differences in p...

A:

Q: When the bank statement is received on July 3, it shows a balance, before reconciliation, of $6,120 ...

A: Bank reconciliation statement ( BRS ): BRS is prepared usually at the end of every month. it is prep...

Q: Does the accounting (book) rate of return (ARR) method provide a valid (or, meaningful) measureof th...

A:

Q: Explain with an example of how we can balance cash investments?

A: Cash investments are short term investments, normally less than 90 days, which usually provides inte...

Q: East Company manufactures VCRs using a completely automated production process. West Company also ma...

A: Operating leverage: It is a ratio that measures the proportion of fixed cost on the total costs and ...

Q: Define and give examples of the following terms: cost pool, cost object, and cost allocation (or dis...

A: Responsibility accounting: Responsibility refers to the several concepts and tools used by managers ...

Q: What are the four factors that have stimulated the growth of commercial software?

A:

Q: What are the benefits of Relevant Cash-Flow Information?

A:

Q: What is the danger in allocating common fixed costs among products or other segments of an organizat...

A: The costs which are not allocated to any specific segment in the business organization are called co...

Q: Your organization is planning to implement an ERP system. Some managers in the organization favor th...

A:

Q: What is the managerial accountant’s primary objective in designing a responsibility-accounting syste...

A: Responsibility accounting: Responsibility refers to the several concepts and tools used by managers ...

Q: During its first month of operation, the Quick Tax Corporation, which specializes in tax preparation...

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms. Th...

Q: Define the following terms: (a) cost behavior and (b) relevant range.

A: (a) Cost behavior: Cost behavior defines the behavior of cost. It defines how cost will change due t...

Q: An art museum covers its operating expenses by charging a small admission fee. The objective of the ...

A: Given: An art museum covers its operating expenses by charging a small admission fee. The objective ...

Q: Distinguish between annual income in the presence of depreciation and annual operating cash flow?

A: Meaning of Annual Income The total income earned by a business during an accounting period is known ...

Q: Define the term Accounts Receivable Turnover?

A: Accounts receivable turnover: This is the ratio which analyzes the number of times accounts receivab...

Q: How does the variable cost per unit change as the level of activity (or cost driver) increases? Why?

A: A variable cost changes is directly proportional to the change in the level of activity or cost driv...

Q: Consider the following data on an asset:Cost of the asset, I                         $38,000Useful l...

A: Straight-line depreciation method: The depreciation method which assumes that the consumption of eco...

Q: Why are top management support and cross-functional involvement crucial when attempting to implement...

A: Activity based costing system is a form of costing system in which cost is analysed by dividing the ...

Q: Which of the following statements about the client-server model is correct?a. It is best suited to t...

A: Accounting Information system is a set of components used for gathering, making, storing, preparing,...

Q: Question 3 ANSWER ALL PARTS OF THE QUESTION 1. Please explain the characteristics of the relevant co...

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

Q: Who is generally responsible for the materials price variance? The materials quantity variance? The ...

A: Material price variance is the tool that shows variance in material cost due to difference in standa...

Q: What is a segment of an organization? Give several examples of segments.

A: Definition: The segment of an organization: A segment is a subsection of an organization. It can be ...

Q: Can we consider Project Risk by Discount Rate?

A: The discount rate is an interest rate that is used in computing the present value of the future cash...

Q: How can we calculate the net annual sponsor's costs?

A: Sponsorship cost:   It refers to the cost of supporting an event or economic activity for an agent i...

Q: Some lenders offer fifteen-year home loans. Investigate the effect of the term on home loans by find...

A: a. Compute the payment if the loan is for 30 years as follows:      

Q: Leslie Epstein, an employee of Bormack Manufacturing Company, prepares journal vouchers for general ...

A: Internal control system suggests an organization to never makes a single person solely responsible t...

Q: I need help

A: Variance in $ = Revenue in Feb'13 - Revenue in Feb'12 Variance in % = (Variance in $) / Revenue in F...

Q: What is meant by the phrase “different costs for different purposes”?

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

Q: Why is the form of activity-based costing unacceptable for external financial reports?

A:

Q: Briefly explain two factors that tend to result in product cost distortion under traditional, volume...

A: Traditional volume based product costing system is a costing system in which total factory overheads...

Q: Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets The budget director of ...

A: Concept Direct Labor Cost is wages or cost paid to workers involved in manufacturing process.Direct ...

Q: You purchased a stamping machine that cost $60,000 five years ago. At that time, the machine was est...

A: Definition: MACRS is a modified accelerated cost recovery system. In this system, depreciation rates...

Q: During its first month of operation, the Quick Tax Corporation, which specializes in tax preparation...

A: Once the journal entries are made, the next step in the accounting cycle is to post the journal entr...

Q: A food processing company has two sequential production departments: mixing and cooking. The cost of...

A: