Essay about Acct 505 Managerial Accounting Complete Course

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ACCT 505 Managerial Accounting Complete Course

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ACCT 505 Managerial Accounting Complete Course

Week 1 DQ 1: Introduction and Cost Behavior – Discussion

Cost Terms, Classifications, and Behavior (Graded)

Welcome to our Week 1 Discussions! To get us started, let's consider the following questions.

1) Would a traditional income statement differ depending on whether the business is a service organization, merchandiser, or manufacturer?

2) Could we use managerial accounting tools to assess the profitability of an organization other than a manufacturing business, or are the topics that we are learning only
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Let’s have a lot of interaction.

Week 2 Assignments:

ACCT 505 Week 2 Chaper 3 Systems Design - Job-Order Costing

ACCT 505 Week 2 Quiz (MCQs & Explanatory)

1. (TCO F) Computing unit product costs involves averaging in

2. (TCO F) Luft Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:

3. (TCO F) Assume there was no beginning work in process inventory and the ending work in process inventory is 70% complete with respect to conversion costs. Under the weighted-average method, the number of equivalent units of production with respect to conversion costs would be: (Points : 5)

4. (TCO F) Which of the following accounts is debited when direct labor is recorded? (Points : 5)

5. (TCO F) During December at Ingrim Corporation, $74,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $6,000. The journal entry to record the requisition from the storeroom would include a: (Points : 5)

6. (TCO F) Wedd Corporation had $35,000 of raw materials on hand on May 1. During the month, the company purchased an additional $68,000 of raw materials. During May,

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