1) discussion
Managerial Accounting Company Example
This week, we covered Managerial Accounting and Job Order Costing. Managerial Accounting is used mostly in manufacturing companies that assemble their own inventory. Job Order costing is a method for firms that produce unique items such as high-end homes or cars, tailored to their owners.
Please identify a specific company that would rely on managerial accounting information and why this is the case. When identifying the company, please list its full legal name, location, industry, and how managerial accounting would assist in analyzing a company’s financials. It is not allowed to use the same company as a student from a previous post in Week 1.
In your response to your peers, try to provide an insight that they may have missed on how their chosen company might utilize managerial accounting. Alternatively, you could explain how your chosen company is similar or different from your peers in terms of how they might utilize managerial accounting.
2) assignment 1 ACC226 Week 1 Assignment
Managerial Accounting
For this week’s assignment, address the following questions. Be sure to complete all steps and sections of the problem and show all your work.
1. Lizzy’s is a retail clothing store, specializing in formal wear for weddings. They purchase their clothing for resale from specialty distributors and manufacturers. Recently, the owners of Lizzy’s have noted an increased interest in costume jewelry and fashion accessories among their clientele. If the owners of Lizzy’s decide to expand their business to include these products, what cost data would they need to collect and analyze prior to expanding the business?
2. Explain the components of the total cost equation and describe how each of the components can be used by management for decision-making.
3. Explain how the high-low method is used for cost estimation. What, if any, are the limitations of this approach to cost estimation?
3) assignment 2 ACC226 Week 1 Exercise
Job Order Costing
Be sure to complete all steps and sections of the problem and show all your work.
1. Little Things manufactures toys. For each item listed, identify whether it is a product cost, a period cost, or not an expense.
2. internet provider services
3. material expense
4. raw materials inventory
5. production equipment rental
6. showroom rental
7. factory employee salary
8. Human Resource Director salary
9. Marzoni’s records show raw materials inventory had a beginning balance of $200 and an ending balance of $300. If the cost of materials used during the month was $900, what were the purchases made during the month?
10. During the month, Job AB2 used specialized machinery for 450 hours and incurred $500 in utilities on account, $300 in factory depreciation expense, and $100 in property tax on the factory. Prepare journal entries for the following:
11. Record the expenses incurred.
12. Record the allocation of overhead at the predetermined rate of $1.50 per machine hour.
4) discussion 2 Answer both of the following questions:
Question A
Tell us about yourself so you can meet and greet other fellow UAG students within your course. Include what you believe to be your current knowledge level of this course topic and what you hope to learn before the course is over.
Question B
What might be some ways that culture can influence the communication process? Consider your own experiences, the communication process, and some of the cultural norms that differ from yours.
5) assignments 3
Communication Skills
For this week’s assignment, address the following questions:
- What could be the career fallout for someone who is unwilling or unable to train to become a better communicator? Can workers today be successful if their writing is and remains poor?
- Why do executives and managers spend more time listening than do workers?
- Imagine that businesspeople from a high-context culture (e.g., Japan or China) meet their counterparts from a low-context culture (the United States) for the first time to negotiate and sign a manufacturing contract. What could go wrong? How about conflicting perceptions of time?
The paper should be 1 - 2 pages in length.