Acct 2302 Study guides, Class notes & Summaries
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ACCT 2302 Ch 20 QUESTIONS AND ANSWERS
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1. Characteristics of budgets include: 
 Expressed in monetary terms 
 Formal statement of a company’s plans 
 Typically span a month, quarter or one year 
2. Budgeted performance considers all of the following in relation to a benchmark: 
 Economic factors 
 Company factors 
 Industry factors 
3. All of the following are guidelines for budgeting except: 
budgets should be prepared using a top-down approach 
4. Most companies prepare a(n) ______ budget that is separated into ...
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ACCT 2302 Ch 18 Cost Behavior and Cost-Volume-Profit Analysis Smartbook.
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Ch 18: Cost Behavior and Cost-Volume-Profit Analysis 1 
1. Cost-volume-profit analysis helps managers predict how changes in ________ and ______levels 
affect income. 
Costs; sales 
2. Which of the following is the correct statement about fixed costs? 
The fixed cost per unit will decrease when volume increases. 
3. A(n) ________ cost changes in proportion to changes in volume of activity 
Variable 
4. A (n) ________ cost includes both fixed and variable components. 
Mixed 
5. Acme Manufacturing...
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ACCT 2302 Ch 13 ,14,16,18,23 Homework., exam study guide with question and answers latest 2023/2024
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ACCT 2302 Ch 13 ,14,16,18,23 Homework., exam study guide with question and answers latest 2023/2024
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ACCT 2302 Exam 3 with Questions and Answers
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ACCT 2302 Exam 3 with Questions and Answers 
 
When actual cost is higher than budgeted cost it is........ ANSWER unfavorable variance 
 
Based on Predicted production of 10,000 units a company expects $100,000 of variable cost and $110,000 of fixed cost. The flexible budget amounts for variable and fixed costs at 8,000 units of production is..... ANSWER Fixed cost = $110,000 Variable cost = $80,000 
 
VC : ( (100,000/1,000)*8,000= $80,000) 
 
A company makes concrete blocks. Each block require...
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ACCT 2302 Ch 14 Managerial Accounting Concepts and Principles Smartbook
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Ch 14 Managerial Accounting Concepts and Principles Smartbook 1 
1. The main purpose of both financial and managerial accounting is similar in that both aim 
to provide relevant information to its users. 
True 
2. Managerial accounting has which of the following characteristics? 
Emphasis on projects, processes, and divisions 
Monetary and nonmonetary information 
Internal users 
3. Managerial accounting is different from financial accounting in that: 
managerial accounting is used in planning a...
And that's how you make extra money
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ACCT 2302 Managerial Accounting: Quiz #1 & Ch 1 Homework
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McGraw Hill ACCT 2302 - Garrison, Managerial Accounting, 17e Garrison, Managerial Accounting, 17e
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ACCT 2302 Managerial Accounting [FULL CONTENT]
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Access to all McGraw Hill ACCT 2302 - Garrison, Managerial Accounting, 17e Garrison, Managerial Accounting, 17e questions and answers
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Ch 18 Cost Behavior and Cost-Volume-Profit Analysis Smartbook
- Exam (elaborations) • 4 pages • 2023
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Ch 18: Cost Behavior and Cost-Volume-Profit Analysis 1 
1. Cost-volume-profit analysis helps managers predict how changes in ________ and ______levels 
affect income. 
Costs; sales 
2. Which of the following is the correct statement about fixed costs? 
The fixed cost per unit will decrease when volume increases. 
3. A(n) ________ cost changes in proportion to changes in volume of activity 
Variable 
4. A (n) ________ cost includes both fixed and variable components. 
Mixed 
5. Acme Manufacturing...
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ACCT 2302 Managerial Accounting: Quiz #3 & Ch 3 Homework
- Exam (elaborations) • 9 pages • 2023
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McGraw Hill ACCT 2302 - Garrison, Managerial Accounting, 17e Garrison, Managerial Accounting, 17e
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ACCT 2302 Ch 16 Process Costing and Analysis Smartbook exam study guide
- Exam (elaborations) • 4 pages • 2023
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Ch16: Process Costing and Analysis 1 
1. Match each product with the type of manufacturing most likely to be used—job order or 
process operations. 
 Job order customized home 
 Process soft drinks 
 Process oil changes 
 Process chocolate chip cookies 
 Job order wedding invitations 
2. In process operations, costs are accumulated in each process. In the final process, cost are 
transferred to: 
Finished goods 
3. Process and job order operations are similar...
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