Week Two company had these accounts on a jumbled trial balance Finished Good 03/01 40,000 Direct Materials Purchases 5,000 Supervisory and indirect Material 45,000 Sales Revenue 200,000 Finished Goods 03/31
Deliverable Length: 300 - 400 words Details: As the management accountant, you are responsible for setting costs for your manufacturing company's products, prior to setting the budget for the upcoming year. You meet with your junior accountants to discuss the importance of this whole process and how exactly your team will cost
A company has inventory days of 75, accounts receivable days of 30, and accounts payable days of 90. What is the cash conversion cycle? A company has sales of $60 million this year. Its accounts receivable balance averaged $2 million. How long on average does it take the firm to collect on its sales?
Activity Based Costing Will increasing the number of cost pools necessarily increase costing accuracy? Explain your answer. Only those costs that change need be included in the decision making process. Evaluate this statement and discuss its merits or shortcomings
A dermatology clinic expects to contract with an HMO for an estimated 80,000 enrollees. The HMO expects 1 in 4 of its enrolled members to use the dermatology services per month. At the end of the year, the dermatology clinc's business manager looked at her monthly figures and saw that the number of enrolled members had increased
The regression model presented below was developed to help a realtor better estimate the value of houses in the immediate area. Regression Statistics R 0.9148 R Square 0.83685 Adjusted R Square 0.79236 Standard Error 2,195.96551 Total Number Of Cases 15 ANOVA d.f. SS
Why is accurate cost allocation important? How does cost allocation come into play regarding how we price individual products or services?
Nexta's division A produces a product that can be sold for $200 or transferred to Division B as a component for its product. Division B can buy the part from another suppler at $180. In the current period, Division B purchased 1,000 units from Division B. Data on a per-unit basis follows: Division A Division B
Cassatt Ltd. uses process costing to account for the costs of manufacturing their office bookcases. The following information is available for the month of November 2009: Beginning WIP inventory (physical units) 8,000 75% complete for conversion Units started during the month 102,000 Ending WIP inventory (physical units) 10
Varsity Ltd. manufacturers various models of bicycles for both local and international customers. A normal customer order is for batches of 100 units. Overhead is applied based on direct labor hours. For the current year $540,000 total overhead is estimated, and the total direct labor hours is estimated to be 90,000. Job 252 is
WJM Manufacturing uses the FIFO method of process costing. Their opening inventory had 1,000 units that were 80% complete with respect to direct materials and 40% for conversion. During the current period 11,000 units were transferred to finished goods, and 900 units were in ending inventory and were 60% complete with respect to
Use this table to answer the questions that follow: Quantity Demanded (Thousands) Price Quantity supplied (Thousands) 80 25 60 75 35 60 70
In a meeting among company executives and cost accountants, the CEO asked for the product costs for the company's newest product line. The cost accountant replied, Product cost depends on the reason for knowing it. Do you agree? Explain briefly.
Baker, Inc., produces a number of components that are used in home theater systems. Fred Briggs, head of the company's market research department, has identified the need for a new component that will most likely sell for $75. Projected volume levels are anticipated to reach 28,000 units in the first year, as several firmly entr
Sophistication Corner sells clothing, shoes, and accessories at a suburban location in Boston. Information for the just concluded calendar year follows. Clothing Shoes Accessories Sales $850,000 $320,000 $150,000 Less: Variable Costs
Managerial Accounting Practices Task Name: Phase 3 Individual Project Details: Your CEO has limited knowledge of management accounting but of course, is vitally interested in forecasting profitability under different scenarios. He asked you, the management accountant, to begin your report by answering a few basic questions
Scenario: You were recently hired as a management accountant for a medium-size manufacturing firm. From your interview, you remember that the CEO does not have a lot of knowledge in the management accounting area and was convinced to hire you only after getting some stern warnings from his board of directors. The company has bee
As the chief executive officer of a large corporation, you have decided after discussion with production and accounting personnel to implement activity based management concepts. Your goal is to reduce cycle time and, in turn cost. A primary way to accomplish this goal is to install highly automated equipment in your plant, whic
Excell spreadsheet + explanation The growing, harvesting, sorting, and grading of apples prior to manufacturing juice and cider is part of the joint product cost. Based on the information in the scenario, determine the share of joint cost allocated to juice and cider by using an Excel spreadsheet. How is the joint cost alloca
Listed below are the missing information in the original attachement. Question 1 WIP Dec 31,2009 3,500 Finished Goods Dec 31,2009 10,000 Other Data General and Administrative Costs $5,000 Calculate Cost of Goods Manufactured and Sold (CGM&S), Gross Margin, and Net Operating Income for the year.
I need assistance with an assignment. I need this information to be original and not provided before. Please include references if applicable. Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 4
Newroute Manufacturing has been using activity-based costing to determine the cost of produt X-678. One of the activities, "Inspection," ocbcurs just before the product is finished. newroute inspects every 10th unit, and has been using "number of units inspected" as the cost driver for inspection costs. A significant component
A company keeps the factory production at 10,000 helmets a month and Direct Materials=$75,000, Direct Labor=$43,00, Manufacturing Overhead=$18,100 and Period Costs=$22,100. Compute the cost to produce one helmet. Please let me see formula for computing. Thank you.
The Outdoor Manufacturing Co produces sporting equipment the company maintains a single raw materials inventory account for both direct and indirect materials. The following info came from factor ledger accountds for December Raw materials 1-Dec $45,500.00 Work in process 1-Dec $125,000.00 finishe
A company has two major businesses that it operates. One business manufactures and sells unicycles for commercial use in circuses, etc. (total sales of $150M), and the other sells bicycles to the public (total sales of $20M). The unicycle business occupies 75,000 square feet of the manufacturing warehouse and the bicycle busines
Costs can be classified into two categories, fixed and variable costs. These costs behave differently based on the level of sales volumes. Suppose we are running a restaurant and have identified certain costs along with the number of annual units sold of 1000. Item: Raw Materials (cost for hamburgers) Total Annual Cost: 650
1. Larry Corporation has developed ideal standards for four activities: labor, materials, inspection, and receiving. Information is as follows: Activity Activity Driver SQ AQ SP Inspection Inspection hours -0- 40,000 $ 12 Labor Hours 50,000 56,000 18 Materials Pounds 1
Job 12 Job 13 Units in Each Order 100 200 Units Sold 100 --- Materials Requisitioned $2480 $1970 Direct Labor Hours 820 1166 Direct Labor Cost
Williams Inc. estimated overhead to be $440000 and direct labor hours to be 100,000 for the year. Actual direct labor ended up being 120,000. Actual overhead for the year amounted for $500,000. What is the predetermined overhead rate? What is the applied overhead for the year? What is the amount of under-or over-applied ove
Describe and compare the continua of managerial effectiveness and efficiency. How are they related?