managerial accounting quiz

Match the catagory

Groups:

(a) managerial accounting

,

(b) financial accounting

• no mandatory rules

• picture the value of company as a whole

• externally focus

• detailed information for decision making

• focus on future

• internally focus

• strict rules

• focus on historical performance

Tags

NGSS.HS-ESS3-1

NGSS.HS-ESS3-5

NGSS.HS-ETS1-1

NGSS.HS-ETS1-3

The company needs to compute the prediction of variable and fixed expense component for future electricity usage under HIGH LOW method. The company must use ​ (a)   for the lowest month, and ​ (b)   as the highest month.

• march
• april
• jan
• feb
• may

These are the example of direct cost, EXCEPT

• raw material

• direct labour

• overhead

The salary of factory security person is part of

• General and administative expense

• factory overhead

• direct labour

Machinery depreciation is part of

• raw material cost

• direct labor cost

• factory overhead cost

macth the catagory!

Groups:

(a) ABC costing

,

(b) Traditional costing

• requires detailed analysis of cost drivers

• more accurate

• allocates overhead based on a single cost driver such as direct labor hours or machine hours

• Takes shorter time and process

• ignores the complexity of modern manufacturing processes

• costly and take long process

Tags

NGSS.HS-ETS1-3