At Some Hotels, Guests Can Use Smartphones for Check-Ins and Room

question 184

True/False

At some hotels, guests can use smartphones for check-ins and room keys. In some cities, public transit passengers can pay for fares by waving a smartphone across a terminal as they board a bus. These payments apps make use of GPS Global Positioning System) technology.

Recognize the limitations and assumptions underlying break-even and incremental analysis.

Evaluate the effects of changes in the sales mix on the break-even point and profitability.

Understand the calculation and implications of margin of safety in financial planning.

Understand the concept of the break-even point and how it is depicted on a CVP graph.

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Definitions:

Managerial Accounting Reports

Internal reports that provide management with specific financial and operational information needed to make decisions about a company's direction and strategy.

Primary Criterion

The most important standard or measure used to evaluate or judge a variable, situation, or decision-making process.

Prime Costs

The combined costs of direct labor and direct materials involved in the production of goods.

Factory Overhead

includes all the indirect costs associated with manufacturing, such as utilities, maintenance, and salaries of indirect labor.