Financial and Managerial Accounting
Financial and Managerial Accounting
7th Edition
ISBN: 9781259726705
Author: John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter 23, Problem 1E
To determine

Relevant costs:

Relevant costs are those costs in any managerial decision-making process that will influence the flow of capital in the future. Hence, such costs decide whether the decision is taken forward or rejected.

To identify: The descriptions using the given terms a through e.

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Sunland Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank $49,820 Add: Deposits in transit 3,948 Deduct: Outstanding checks (7,144) Balance per books $46,624 Month of April Results Per Bank Per Books Balance April 30 $52,640 $51,700 April deposits April checks April note collected (not included in April deposits) April bank service charge 22,560 26,320 20,868 18,800 5,640 -0- 63 -0- April NSF check of a customer returned by the bank (recorded by bank as a charge) 2,005 -0-

Chapter 23 Solutions

Financial and Managerial Accounting

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Cost Classifications - Managerial Accounting- Fixed Costs Variable Costs Direct & Indirect Costs; Author: Accounting Instruction, Help, & How To;https://www.youtube.com/watch?v=QQd1_gEF1yM;License: Standard Youtube License