For each of the following types of information, identify whether the information would be most applicable to
Question:
For each of the following types of information, identify whether the information would be most applicable to financial (F) or managerial (M) accounting.
i. Income statement given to owners (for partnerships) and to shareholders (for corporations)
ii. Report of the amount of time needed to complete each process, to deliver to customers, and to respond to customer complaints
iii. Amount of sales by specific geographic locations, customers, and product or service lines
iv. Tax return filed with Internal Revenue Service
v. Proposal for additional or new office space
vi. Department store rating of suppliers with respect to quality and on-time delivery
vii. For an airline, the amount of time that the airplanes are on the ground, number of delays, and number of empty seats by flights
viii. Scheduling and costs of the various construction processes for a house, such as the foundation, framing, and interior finishing work
ix. For a landscape company, the number of competitors and prices charged by them
x. For legal firm, the tasks performed by different levels of lawyers and by paralegals
xi. For a bank, a report differentiating profits between commercial and residential loans
xii. For a restaurant, the breakdown between direct materials (food), direct labor (food preparers and servers), and indirect costs (electricity, insurance, rent, depreciation)
Step by Step Answer:
Managerial Accounting
ISBN: 9780137689453
1st Edition
Authors: Jennifer Cainas, Celina J. Jozsi, Kelly Richmond Pope