Fixed Cost: Fixed costs refer to the costs involved in the production that remain the same and do not change irrespective of changes in the volume of production. Variable Cost: Variable costs refer to the costs involved in the production, which vary as per the changes in the volume of production. To Explain: Investor Services and Advisor Services as referred to in a brokerage company like Company CS.

Question

Question: - How does resource attribution mapping enhance cost allocation? 1. Attribution wastes effort 2. Equal splitting works better 3. Usage patterns determine proper distribution methods 4. Simple rules suffice always. GENERAL ACCOUNTING MCQ

Answer 1

Question

Chapter 24, Problem 24.5EX

a)

To determine

Fixed Cost: Fixed costs refer to the costs involved in the production that remain the same and do not change irrespective of changes in the volume of production.

Variable Cost: Variable costs refer to the costs involved in the production, which vary as per the changes in the volume of production.

To Explain: Investor Services and Advisor Services as referred to in a brokerage company like Company CS.

b)

To determine

To Enlist: The examples for variable cost and fixed cost in investor services segment.

c)

To determine

To Estimate: The contribution margin for each segment, assuming that depreciation represents the major portion fixed costs.

d)

To determine

To Estimate: The decline in operating income if Company CS decides to the sell the Advisor services business.

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Question: - How does resource attribution mapping enhance cost allocation? 1. Attribution wastes effort 2. Equal splitting works better 3. Usage patterns determine proper distribution methods 4. Simple rules suffice always. GENERAL ACCOUNTING MCQ

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Answer 2

Question

Chapter 24, Problem 24.5EX

a)

To determine

Fixed Cost: Fixed costs refer to the costs involved in the production that remain the same and do not change irrespective of changes in the volume of production.

Variable Cost: Variable costs refer to the costs involved in the production, which vary as per the changes in the volume of production.

To Explain: Investor Services and Advisor Services as referred to in a brokerage company like Company CS.

b)

To determine

To Enlist: The examples for variable cost and fixed cost in investor services segment.

c)

To determine

To Estimate: The contribution margin for each segment, assuming that depreciation represents the major portion fixed costs.

d)

To determine

To Estimate: The decline in operating income if Company CS decides to the sell the Advisor services business.

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Answer 3

Question

Chapter 24, Problem 24.5EX

a)

To determine

Fixed Cost: Fixed costs refer to the costs involved in the production that remain the same and do not change irrespective of changes in the volume of production.

Variable Cost: Variable costs refer to the costs involved in the production, which vary as per the changes in the volume of production.

To Explain: Investor Services and Advisor Services as referred to in a brokerage company like Company CS.

b)

To determine

To Enlist: The examples for variable cost and fixed cost in investor services segment.

c)

To determine

To Estimate: The contribution margin for each segment, assuming that depreciation represents the major portion fixed costs.

d)

To determine

To Estimate: The decline in operating income if Company CS decides to the sell the Advisor services business.

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Answer 4

Question

Chapter 24, Problem 24.5EX

a)

To determine

Fixed Cost: Fixed costs refer to the costs involved in the production that remain the same and do not change irrespective of changes in the volume of production.

Variable Cost: Variable costs refer to the costs involved in the production, which vary as per the changes in the volume of production.

To Explain: Investor Services and Advisor Services as referred to in a brokerage company like Company CS.

b)

To determine

To Enlist: The examples for variable cost and fixed cost in investor services segment.

c)

To determine

To Estimate: The contribution margin for each segment, assuming that depreciation represents the major portion fixed costs.

d)

To determine

To Estimate: The decline in operating income if Company CS decides to the sell the Advisor services business.

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Answer 5

Chapter 24, Problem 24.5EX

a)

To determine

Fixed Cost: Fixed costs refer to the costs involved in the production that remain the same and do not change irrespective of changes in the volume of production.

Variable Cost: Variable costs refer to the costs involved in the production, which vary as per the changes in the volume of production.

To Explain: Investor Services and Advisor Services as referred to in a brokerage company like Company CS.

b)

To determine

To Enlist: The examples for variable cost and fixed cost in investor services segment.

c)

To determine

To Estimate: The contribution margin for each segment, assuming that depreciation represents the major portion fixed costs.

d)

To determine

To Estimate: The decline in operating income if Company CS decides to the sell the Advisor services business.

Answer 6

Chapter 24, Problem 24.5EX

a)

To determine

Fixed Cost: Fixed costs refer to the costs involved in the production that remain the same and do not change irrespective of changes in the volume of production.

Variable Cost: Variable costs refer to the costs involved in the production, which vary as per the changes in the volume of production.

To Explain: Investor Services and Advisor Services as referred to in a brokerage company like Company CS.

Answer 7

Chapter 24, Problem 24.5EX

a)

To determine

Fixed Cost: Fixed costs refer to the costs involved in the production that remain the same and do not change irrespective of changes in the volume of production.

Variable Cost: Variable costs refer to the costs involved in the production, which vary as per the changes in the volume of production.

To Explain: Investor Services and Advisor Services as referred to in a brokerage company like Company CS.

Answer 8

b)

To determine

To Enlist: The examples for variable cost and fixed cost in investor services segment.

Answer 9

b)

To determine

To Enlist: The examples for variable cost and fixed cost in investor services segment.

Answer 10

c)

To determine

To Estimate: The contribution margin for each segment, assuming that depreciation represents the major portion fixed costs.

Answer 11

c)

To determine

To Estimate: The contribution margin for each segment, assuming that depreciation represents the major portion fixed costs.

Answer 12

d)

To determine

To Estimate: The decline in operating income if Company CS decides to the sell the Advisor services business.

Answer 13

d)

To determine

To Estimate: The decline in operating income if Company CS decides to the sell the Advisor services business.

Answer 14

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Answer 25

Ch. 24 - Explain the meaning of (A) differential revenue,...Ch. 24 - A company could sell a building for 250,000 or...Ch. 24 - A chemical company has a commodity-grade and...Ch. 24 - A company accepts incremental business at a...Ch. 24 - Prob. 5DQ Ch. 24 - Prob. 6DQ Ch. 24 - In the long run, the normal selling price must he...Ch. 24 - Although the cost-plus approach to product pricing...Ch. 24 - Prob. 9DQ Ch. 24 - What is the appropriate measure of a products...

Solution Summary: The author explains the difference between fixed and variable costs in a brokerage company like Company CS.

To Enlist: The examples for variable cost and fixed cost in investor services segment.

To Estimate: The contribution margin for each segment, assuming that depreciation represents the major portion fixed costs.

To Estimate: The decline in operating income if Company CS decides to the sell the Advisor services business.

Chapter 24 Solutions