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What are the sources of data used in management accounting?
. Primary and Secondary data . Discrete and Continuous Data . Sample and Population Data
What is the primary purpose of financial accounting?
Accounting is a system of maintaining records of a companies operations and communicating that information to decision makers.
Is variable costing only on the income statement?
Variable costing primarily affects the income statement, as it only includes variable manufacturing costs in product costs, impacting the calculation of gross margin and operating income. However, it also influences financial analysis and decision-making by providing insights into cost behavior and profitability. Unlike absorption costing, variable costing does not allocate fixed manufacturing overhead to products, which can affect inventory valuation on the balance sheet but is not a primary focus of variable costing. Thus, while its main application is on the income statement, its implications can extend to other financial statements.
What is the difference between operating income and non-operating income?
Operating income is that income which is earned through primary business activity while non operating income is that part of income which is not generated through primary operations of business like interest income, dividend income etc.
What exactly is accounts receivable and accounts payable?
Account Receivables are the right to claim against the sale of goods made by any business. It is merely concern with the sale of primary business product. Account Payables are the obligation to pay for the goods purchase with the intention to resale or to use in manufacturing of goods to sell.
What is Primary distribution overhead cost?
Primary distribution overhead cost is also called Departmentalization of overheads. It involves apportionment and allocation of overhead costs in the service and production departments.
What is the primary objective of normal security operations?
What is the primary objective of normal security operations
What is a primary operation?
A primary operation refers to the fundamental processes or activities that a business or organization engages in to achieve its core objectives. These operations are essential for delivering products or services and typically include functions like production, sales, and customer service. In the context of manufacturing, primary operations might involve the actual creation of goods, while in a service-oriented business, it could pertain to the delivery of services to clients. Overall, primary operations are crucial for maintaining the viability and success of an organization.
What is the NAICS Code for Dry and Wet Primary Battery Manufacturing?
NAICS 335912 applies to Dry and Wet Primary Battery Manufacturing.
What are the primary operations of the computer?
There are for primary operations of the . The basic operations are input, processing, storage and output. There are other functions as well but most of them will fall under these categories.
What are the operations of primary market?
dabang
What is primary manufacturing?
Primary Manufacturing is taking raw materials (from Primary Industry) and using them to make industrial materials. Then, these would go under another process called Secondary Manufacturing that uses these products and turn them into finished goods.Ex: trees > wood > lumber > chair
What is one of the primary activities in the value chain?
One of the primary activities in the value chain is operations, which involves the processes that transform inputs into finished products or services. This includes activities such as manufacturing, packaging, and assembly, where resources are utilized to create value. Efficient operations are crucial for maximizing productivity, reducing costs, and ensuring quality, ultimately contributing to customer satisfaction and competitive advantage.
What is Secondary Manufacturing?
Secondary manufacturing refers to further processing of products that have already undergone some manufacturing. E.g. processing wood past its primary stage (e.g., lumber). Primary manufacturing is thus manufacturing of raw materials or materials in their near-natural state (e.g., iron ore, wood logs, ...)
Discuss what has happened in recent industrial history to reduce the usefulness of direct labor as the primary basis for allocating overhead to products?
Advances in computerized systems, technological innovation, global competition, and automation have changed the manufacturing environment. The amount of direct labor used in many industries has greatly decreased, and total overhead costs resulting from depreciation on expensive equipment and machinery, utilities, repairs, and maintenance have significantly increased. When there is not a correlation between direct labor and overhead, it is inappropriate to use predetermined overhead rates based on direct labor.
What are the primary industries in Canada?
Some types of secondary industries include manufacturing and construction.
Does apple computer have a corporate office in China?
Apple does not have a corporate office in China; instead, its operations in the country are managed through regional offices and partnerships. The company's primary corporate headquarters is located in Cupertino, California, USA. However, Apple does have significant manufacturing and supply chain operations in China, which are vital to its business.
