As practitioners increase their knowledge in data analytics,…

As practitioners increase their knowledge in data analytics, some companies have moved towards collecting information in new and different ways. Additionally, decision makers have taken their newly collected data and devised ways that it can benefit the organization the most. Which of the following is an example of a way that organizations use data analytics in cost accounting decisions?

Carrot Jewelry is considering two mutually exclusive product…

Carrot Jewelry is considering two mutually exclusive product lines, either an emerald ring or a ruby bracelet, which will be introduced next year. The board of directors of the company has established a target net income of $30,000 for the new product line but wishes to maximize profit in any case. For the emerald ring line, Carrot expects to sell 200 rings during the year at a selling price per ring of $1,500. Estimated variable costs are $800 per ring, and fixed costs will amount to $90,000 for the year. For the ruby bracelet line, the company anticipates sales of 500 units at a selling price of $1,100 per bracelet. Fixed costs will amount to $110,000 for the year, and the variable costs will also be $800 each. Carrot Jewelry will have a tax rate of 30% next year. Which one of the following statements is correct?

Sarah works for a mid-size law firm as a staff accountant. S…

Sarah works for a mid-size law firm as a staff accountant. Sarah wants to develop her skills into something more valuable to her organization and more marketable in general. She knows data analytics is an incredibly popular new area for high-demand skills. What are some ways that Sarah can add some data analytics perspective to support her goals?