Fundamental Managerial Accounting Concepts - 8th Edition - by Thomas P Edmonds, Christopher Edmonds, Bor-Yi Tsay, Philip R Olds - ISBN 9781259569197

Fundamental Managerial Accounting Conce...
8th Edition
Thomas P Edmonds, Christopher Edmonds, Bor-Yi Tsay, Philip R Olds
Publisher: McGraw-Hill Education
ISBN: 9781259569197

Solutions for Fundamental Managerial Accounting Concepts

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We offer sample solutions for Fundamental Managerial Accounting Concepts homework problems. See examples below:

The cost of goods sold: The cost of goods sold is the total of all the expenses incurred by a...Fixed cost remains constant when volume of activity changes but per unit value will change inversely...The cost of instruction is fixed cost as the total cost remains constant irrespectively of number of...Given information: The formula to calculate the magnitudes of operating leverage are as follows:...The cost of instruction is fixed cost as the total cost remains constant irrespectively of number of...Given information: The formula to calculate the magnitudes of operating leverage are as follows:...Given information: The sale price of ticket is $28. Fee is $10,000 fixed. The formula to calculate...Break-even point: The point where the total costs and the total revenue are equivalent is known as...The calculation of break-even in units is as follows: Sales−Variable cost−Fixed cost=Profit(Sales...Formula to compute the break-even in dollars: Break-even=Fixed costsContribution margin ratio...The calculation of contribution margin per unit is as follows: Contribution margin per unit=Sales...The calculation of sales volume in units is as follows: Sales volume in units=Fixed cost+Target...Formula to compute the break-even in dollars: Break-even=Fixed costsContribution margin ratio...The calculation of contribution margin per unit is as follows: Contribution margin per unit=Sales...The calculation of sales volume in units is as follows: Sales volume in units=Fixed cost+Target...A thing for which one is planning to identify the cost is termed as cost object. The main difference...Activity-based costing: ABC (activity-based costing) is a method used for recognizing and allocating...Unit level cost: The performance is based on every single unit of products or services. Examples are...The calculation of overhead rate is as follows: Overhead rate=Total overhead costMachine...Calculation of total overhead cost: Total overhead cost=Unit cost+Batch cost+Product cost+Facility...Unit level cost: The performance is based on the every single unit of product or service. Examples...Calculation of total labor hours: Total labor hour=(Direct labor hour×Production time (Product...Calculation of overhead cost under ABC system: Table (1) Hence, the total allocated cost is...Relevant information: Relevant information is considered as information that can be functional to...Special order decisions: Special order decisions include circumstances in which the board must...Special order decisions: Special order decisions include circumstances in which the board must...Special order decisions: Special order decisions include circumstances in which the board must...Scarce resource utilization: It is a decision is a result with respect to the superlative...Special order decisions: Special order decisions include circumstances in which the board must...Special order decisions: Special order decisions include circumstances in which the board must...Special order decisions: Special order decisions include circumstances in which the board must...Scarce resource utilization: It is a decision is a result with respect to the superlative...Variable cost: It is also called as production costs that change in extent to the measure of goods...Estimation of income and expenses of a company for a particular set of period is termed as budget....The formula to calculate the percentage of increase in sales: % of increase in sales=COGSCurrent...The formula to calculate the percentage of increase in sales: % of increase in sales=COGSCurrent...Flexible budgets are those which estimate the revenue and costs for different levels of activity...Compute the material variance information: Table (1)Compute the standard cost per candle: Excel workings: Table (1) Excel spread sheet: Table (2)Compute the material variance information: Table (1)Compute the standard cost per wheel: Excel workings: Table (1) Excel spread sheet: Table (2)Compute the total variance: Total variances=|Actual cost−Standard cost|×Actual...Decentralization: In a company where the authority and responsibility of operating decisions are...Operating profit margin: This ratio gauges the operating profitability by quantifying the amount of...Return on investment (ROI): This financial ratio evaluates how efficiently the assets are used in...Operating profit margin: This ratio gauges the operating profitability by quantifying the amount of...Return on investment (ROI): This financial ratio evaluates how efficiently the assets are used in...Return on investment (ROI): This financial ratio evaluates how efficiently the assets are used in...Time value of money: Time value of money refers to the concept that the value of money available at...The annual rate of return method: The annual rate of return is the amount of income which is earned...Net present value method: Net present value method is the method which is used to compare the...Net present value method: Net present value method is the method which is used to compare the...The annual rate of return method: The annual rate of return is the amount of income which is earned...Net present value method: Net present value method is the method which is used to compare the...Net present value method: Net present value method is the method which is used to compare the...Comparing the accounting treatment of material and labor costs for manufacturing versus Service...Predetermined overhead rate: It is an expected proportion of overhead costs recognized before an...The differences between job order costing system and process costing system is as follows: Basis of...Job order costing: Job order costing is one of the methods of cost accounting under which cost is...Production Cost Report: A report which gives information about the total units produced and total...Job order costing: Job order costing is one of the methods of cost accounting under which cost is...Production Cost Report: A report which gives information about the total units produced and total...Pre-determined Overhead Rate: Predetermined overhead rate is a measure used to allocate the...The difference between vertical and horizontal analysis is as follows: Horizontal analysis: The...Times Interest Earned Ratio: It is one of the solvency ratios. It is a measure to evaluate the net...Net margin: This ratio gauges the operating profitability by quantifying the amount of income earned...Working capital: Working capital refers to the excess amount of current assets over its current...The calculation of the accounts receivable is as follows: Accounts receivables= Quick...Times Interest Earned Ratio: It is one of the solvency ratios. It is a measure to evaluate the net...Working capital: Working capital refers to the excess amount of current assets over its current...Current ratio: Current ratio is one of the liquidity ratios, which measures the capacity of the...Statement of cash flows: Statement of cash flows reports all the cash transactions which are...

More Editions of This Book

Corresponding editions of this textbook are also available below:

FUND.MANAGERIAL ACCT...(LL)-W/CONNECT
10th Edition
ISBN: 9781264523849
FUND.MANAGERIAL ACCT.CONCEPTS-CONNECT
10th Edition
ISBN: 9781264465576
FUND OF MANAGERIAL ACCOUNTING LL+ACCESS
10th Edition
ISBN: 9781265108519
FUND OF MANAGERIAL ACCOUNTING ACCESS
10th Edition
ISBN: 9781266661006
FUND. OF MANAGERIAL ACCOUNTING CONNECT A
10th Edition
ISBN: 9781264491162
FUND. OF MANAGERIAL ACCOUNTING W/CONNECT
10th Edition
ISBN: 9781264484898
FUND.MANAGERIAL ACCT.CONCEPTS (LOOSE)
10th Edition
ISBN: 9781264465736
FUNDAMENTAL MANAGERIAL CONCEPTS
10th Edition
ISBN: 9781266330742
FUNDAMENTAL MANAGERIAL CONCEPTS
10th Edition
ISBN: 9781266914997
PRINT COMPANION - FUND MANG ACC
9th Edition
ISBN: 9781264116461
FUND.MANAGERIAL ACCT.CONCEPTS
9th Edition
ISBN: 9781259969508
Fundamental Managerial Accounting Concepts
9th Edition
ISBN: 9781260433852
MANAGERIAL ACCOUNTING ACCESS
9th Edition
ISBN: 9781260931815
Connect Online Access for Fundamental Managerial Accounting Concepts
9th Edition
ISBN: 9781260204186
FUND.MAN.ACC.W/ PROCTORIO & CONNECT >BI<
9th Edition
ISBN: 9781265388560
Fundamental Managerial Accounting Concepts
5th Edition
ISBN: 9780071115797
Fundamental Managerial Accounting Concepts
6th Edition
ISBN: 9780077464097

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