9 Which statement(s) is True about the uses of managerial accounting? Managerial

Question

9 Which statement(s) is True about the uses of managerial accounting?

Managerial accounting is used to support long-term planning decisions.

Managerial accounting helps a company evaluate the performance of company decisions.

Managerial accounting helps users run the day-to-day operations of the business.

All of the above

10 A budgeting system that requires managers to estimate sales and other operating expenses as though operations are being started for the first time is:

static budgeting.

flexible budgeting

zero based budgeting

None of the above

11

Fixed costs for Flag Stamp Co. are $250,000. The selling price per unit is $20.00, and variable costs are $15.00.

The contribution margin ratio is ? (state whole number only - no decimals).

12

Fixed costs for Flag Stamp Co. are $300,000. The selling price per unit is $20.00, and variable costs are $15.00. The break-even sales (in units) are ?

Explanation / Answer

9 All of the above is True about the uses of managerial accounting 10 A budgeting system that requires managers to estimate sales and other operating expenses as though operations are being started for the first time is zero based budgeting 11 contribution margin ratio =(20-15)/20 = 25% 12 Break-even sales (in units) = 300000/(20-15)=60000

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