{"id":77436,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/20-questions"},"modified":"2017-08-18T07:14:20","modified_gmt":"2017-08-18T07:14:20","slug":"20-questions","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/20-questions\/","title":{"rendered":"20 Questions"},"content":{"rendered":"<fieldset>\n  <span style=\"color: #003399;font-size: medium\">1.Describe the total quality management approach to continuous improvement<br \/> 2. Identify and give examples of each of the three basic cost elements involved in the manufacture of a product<br \/> 3. Distinguish between period and product costs and give examples of each<br \/> 4. Explain the difference between the financial statements of a merchandising company and a manufacturing company 4. Prepare a schedule of cost of goods manufactured in proper form<br \/> 5. Explain the flow of direct materials cost, direct labor cost and manufacturing overhead cost from the point of incurrence to the sale of the completed project<br \/> 6. Explain the components of contribution margin and net income and explain how changes in activity affect both<br \/> 7. Compute the contribution margin ratio and use it to comput changes in contribution margin and net income<br \/> 8. Show the effects on contribution margin of changes in variable cost, fixed cost, selling price per unit volume<br \/> 9.compute break-even point<br \/> 10. Use the CVP formulas to determine the activity level needed to achieve a desired target net profit figure<br \/> 11. explain the concepts of \u201cmargin of safety\u201d and \u201coperating leverage\u201d<br \/> 12. Define budgeting and explain difference between planning and control<br \/> 13. List and explain the principal advantages of budgeting<br \/> 14. Explain master budget interrelationships<br \/> 15. Prepare the following budgets: sales, production, purchases and cash<br \/> 16. Distinguish and explain the difference between ideal standards and practical standards<br \/> 17. explain how direct materials and direct labor standards are set<br \/> 18. enumerate the advantages and disadvantages of using standard costs<br \/> 19. compute the direct materials price and quantity variances and explain their significance<br \/> 20. Explain how a manager would determine whether a variance constituted an \u201cexception\u201d that would require his or her attention<\/span><br \/>\n <\/fieldset>\n<p> <i class=\"clear padded\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>1.Describe the total quality management approach to continuous improvement 2. Identify and give examples of each of the three basic cost elements involved in the manufacture of a product 3. Distinguish between period and product costs and give examples of <a href=\"https:\/\/www.benedictsol.com\/blogs\/20-questions\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77436","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/77436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=77436"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/77436\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=77436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=77436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=77436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}