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Management Accounting

Important information about Joint cost allocation

Show and explain all calculations. A seafood business purchases lobsters and processes them into tails and flakes. It sells the lobster tails for $21 dollars per pound and the flakes for $14 per pound. On average, 100 pounds of lobster are processed into 52 pounds of tails and 22 pounds of flakes, with 26 pounds of waste. Assu

30 Managerial Mutiple Choice: Budgets, Cash flows, Volume, Variances, Prices

1. The master budget is primarily concerned with: a. Short-range decisions b. Intermediate-range decisions c. Long-range decisions d. None of the above 2. Capital budgeting deals with: a. Short-range purchase decisions b. Intermediate to long-term asset management decisions c. Perpetual budgeting decisions d. Division

Cost Allocations: Relevance to US Army Corp of Engineers, City of Seattle, US DHS

1. Why does the US Army Corp of Engineers worry about cost allocations? Aren't they a branch of the US Federal Government? Why does it matter whether or not costs are allocated? 2. The City of Seattle reading lists a series of costs and associated cost drivers for allocating these costs. Do you agree with the cost drivers (c

Trailbrazers Managerial Accounting Produced

56. Trailblazers produces two types of hiking boots: the men's boot and the women's boot. The two types of boots are similar except that the women's boots are more stylish. Both types are made using the same machines. It takes 15 minutes if machine time to produce one pair of men's boots, whereas it takes 30 minutes of machine t

Prepare schedule of cost of good manufactured

Waterboys Corporation manufactured a variety of products in its factory. Data for the most recent months operations appear below: Beginning raw materials inventory $ 40,132 Purchases of Raw Materials 395,952 Ending raw materials inventory 61,322 Direct labor

Use the 'Management Skill Set Assessment' and comment on the results

See the attached file. Overview The purpose of the Project is to give you the opportunity to explore the applicability of the Module to your own life, work, and place in space and time, and to see how the otherwise academically rigorous presentation of a topic may, with more or less work and/or trauma, become "up close and

Variable cost markup: Vita Company

Vita Co has the following budgeted costs for 10,000 units: Variable Fixed Manufacturing $100,000 $75,000 Selling and Admin $50,000 $25,000 Total

Analyze an organization: environment, managerial, operational, financial issues

Using your current work organization (or an organization of interest) as the subject matter, research the elements of business and prepare an APA formatted paper that: Analyzes the organization's basic legal, social, and economic environments Analyzes the organization's managerial, operational, and financial issues includ

Determined cost of Jarmon's two trips

Determine the total cost of each trip. The first trip was a round trip value. During the first week in January, Jarmon flew two trips. The first trip was a round trip flight from Chicago to San Francisco, for which Jarmon paid $500 for the pilot and $350 for fuel. The second flight was a round trip from Chicago to New

Net Change in the Cash Conversion Cycle

Gaston Piston Corp. has annual sales of $50,000,000 and maintains an average inventory level of $15,000,000. The average accounts receivable balance outstanding is $10,000,000. The company makes all purchases on credit and has always paid on the 30th day. The company is now going to take full advantage of trade credit and

Amy Jolly: cost of retained earnings

Amy Jolly is the treasurer of her company. She expects the company will grow at 4% in the future, and debt securities (YTM=14%, tax rate= 30%) will always be a cheaper option to finance the growth. The current market price per share of its common stock is $39, and the expected dividend in one year is $1.50 per share. Calculat

Cost for issuing bonds

Clancy Inc. issues $2,000,000 of 7% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 8%. What amount will Clancy receive when it issues the bonds

Managerial accounting 3: Caltreck Manufacturing, SuperK Company

Use the following information for questions 20-22. Caltreck Manufacturing Inc.'s accounting records reflect the following inventories: Dec. 31, 2005 Dec. 31, 2006 Raw materials inventory $100,000 $ 80,000 Work in process inventory 130,000 145,000 Finished goods inventory 125,000 115,000 During 2006, Caltre

Managerial accounting: 9 multiple choice questions

11. Which of the following represents the correct order in which inventories are reported on a manufacturer's balance sheet? a. Raw materials, work in process, finished goods b. Work in process, finished goods raw materials c. Finished goods, work in process, raw materials d. Work in process, raw materials, finished goods

Fresh LTD buys a truck: what should be recorded as the cost?

Please show the steps into solving this question: Fresh Ltd buys a truck with a list price of $40 000. the dealer gives 15% reduction in list price and another 4% cash discount on the net price if payment is made in 25 days. Sales taxes amount to be $200 and the company paid another $300 to have a special tire installed. Wha

Questions I am having problems with

1. Your consulting firm was recently hired to improve the performance of Shin-Soenen Inc, which is highly profitable but has been experiencing cash shortages due to its high growth rate. As one part of your analysis, you want to determine the firmâ??s cash conversion cycle. Using the following information and a 365-day year,

Cedarcrest: Fixed- and Variable- Cost Pools

The city of Cedarcrest signed a lease for a photocopy machine at $2,000 per month and $.02 per copy. Operating costs for toner, paper, operator salary, and so on are all variable at $.03 per copy. Departments had projected a need for 50,000 copies a month. The Public Works Department predicted its usage at 18,000 copies a month.

Managerial accountant

Generally forecasting and planning is considered the purview of the financial accountant or the forecasting and planning department. Given that the managerial accountant deals primarily with historical data how can the management accountant bring value added to the projections of the entity?

Absorption Costing: Managerial Accounting

Roland Andersson is the manager of the Ekland Division of Ystad Industries. His one of several managers being considered for position of CEO, as the current CEO is retiring in a year. All divisions use standard absorption costing; normal capacity is the basis for application of fixed overhead. Normal capacity in the Ekland Di

Cost Management System Being Applied in Various Scenarios

For each of the decisions listed below, indicate the purpose of the Cost Management System being applied. a. A production manager wants to know the cost of performing a setup for a production run in order to compare it to a target cost established as part of a process improvement program. b. Top management wants to identif

Magma Inc Cost and Revenue Variances: Actual DL Rate

Use the following information to answer Questions 1, 2 and 3 Magma Inc. produces two products, A and B. Relevant budget information for this period for each of these products is presented in the table. Product A Product B

Cost and Revenue Variances for Spiele Inc

Spiele Inc. manufactures and sells various software packages - Games, Business Applications and Creative Suites. Budget and actual information for the period are presented in the table. Budget Actual Sales Units

Cost and Revenue Variances for Processors Ltd

Processors Ltd. uses three different products - X, Y and Z to produce its major product line. Each kg of the raw material costs $2.00 for X, $3.75 for Y and $5.20 for Z. Each final product is budgeted to use 50 kg of X, 20 kg of Y and 30 kg Z. During the last period 150 units of the final product were produced. Actual inputs use