1.) Why is volume variance nonexistent with variable costing?

2.) Why is it important for the managerial accountants to consider qualitative characteristics when in helping

management reach a decision?

3.) Among the criteria necessary for decision-making, accuracy and timeliness are needed. Which of these

two would you consider first in making a decision and why?

4.) For an item to be considered to be a relevant cost it must:

5.) Why is the cost of inventory considered to be an irrelevant cost?