Explore BrainMass

Explore BrainMass

    Management Accounting

    BrainMass Solutions Available for Instant Download

    Managerial Accounting: 26 Questions

    1. Which of the following items would not be classified as part of factory overhead? Direct labor used Amortization of manufacturing patents Production supervisors' salaries Factory supplies used 2. For which of the following businesses would the process cost system be appropriate?

    Managerial Costs: 5 multi choice questions direct, indirect, variable, fixed

    1. Classifying a cost as either direct or indirect depends upon: a. whether the cost can be easily identified with the cost object b. whether an expenditure is avoidable or not in the future c. the behavior of the cost in response to volume changes d. whether the cost is expensed in the period in which it is

    Managerial Planning and Goal Setting

    Managerial Planning and Goal Setting You are a sales director who is responsible for the southeastern sales team for a large telecommunications company. Currently you are in the process of preparing the sales goals for the coming year for your sales managers and their direct reports. Discuss the criteria for effective

    Cost allocation

    One year ago, Academic Hospital and nearby Western Hospital merged. As part of the merger, Academic Hospital eliminated its small maternity service, and Western Hospital eliminated most of its internal laboratory. The two hospitals are both owned by one parent organization, yet they remain distinct profit centers, with an "e

    Rockness Bottling Activity Based Cost case study

    See attached file for clarity. The Grape Cola caper. Howard Rockness was worried. His company, Rockness Bottling, showed declining profits over the past years despite an increase in revenues. With profits declining and revenues increasing. Rockness knew there must be a problem with costs. Rockness sent an email to his exec

    Single drivers versus multiple drivers

    Eagan Electrical Instruments Company estimates manufacturing support as 950% of direct labor cost. Eagan's controller, Jim Chang, is concerned that the actual manufacturing support activity costs have differed substantially from the estimates in recent months. He suspects that the problem is related to the use of only one cost

    Management Accountants vs. Users

    "Managerial accountants should understand the uses of accounting data, and users of data should understand accounting. Only in this way can accountants provide the appropriate accounting data for the correct uses." Do you agree with this statement? Why or why not?

    Finance

    1. What is the difference between free trade credit and costly trade credits? 2. What are some actions a firm can take to shorten its cash conversion cycle?

    Pros and cons of awarding managerial bonuses

    Discuss the pros and cons of awarding managerial bonuses based on budgeted cost targets. Specifically, what are some ways that the manager could ensure him or herself a bonus but skew your financial data?

    Determining Setup Cost to be Allocated: Power Electronics

    Relating Cost Pools to Products Using Cost Drivers Power Electronics manufactures portable power supply units. Power has recently decided to use an activity-based approach to cost its products. Production line setups is a major activity at Power. Next year Power expects to perform 1,000 setups at a total cost of $1,510,000.

    Allocation of Setup Cost

    Relating Cost Pools to Products Using Cost Drivers Classy Attire is the designer and maker of elaborate prom dresses. The president of Classy wants to switch to an activity-based approach in the upcoming year to assign prices to the gowns. Production line setups are a major activity at Classy. Next year Classy expects to perfo

    Kristen Lu purchased a used automobile... compute average cost per mile and more

    Kristen Lu purchased a used automobile for $8,000 at the beginning of last year and incurred the following operating costs: Depreciation ($8,000 5 years) . . . . . . . . . $1,600 Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,200 Garage rent . . . . . . . . . . . . . . . . . . . . . . . . . $360 Autom

    Curtis Corporation: make or buy the containers, incremental cost (benefit)

    Make-or-Buy Decision Curtis Corporation is beginning to manufacture Mighty Mint, a new mouthwash in a small spray container. The product will be sold to wholesalers and large drugstore chains in packages of 30 containers for $19 per package. Management allocates $260,000 of fixed manufacturing overhead costs to Mighty Mint. T

    The American Produce Company: Allocating Joint Costs

    Allocating Joint Costs The American Produce Company purchased a truckload of cantaloupes (weighing 5,900 pounds) for $980. American Produce separated the cantaloupes into two grades: superior and economy. The superior grade cantaloupes had a total weight of 3,400 pounds and the economy grade cantaloupes totaled 2,500 pounds.

    Managerial Accounting

    Please see the attachment. Question #1?Multiple Choice Topics 1. Circle the impact of the following situations on the applicable variances (NA=no affect) A. Laborers worked overtime. Labor Rate Variance: Fav Unfav NE Labor Efficiency Variance: Fav. Unfav. NE B. Inferior Materials we

    Cost Variances

    1) Consider the following data for Said's Toothbrush Company: Factory Overhead Fixed Variable Actual Costs Incurred $28,000 $26,500 Flex Budget for Standard Inputs And Actual Outputs $25,000 $22,500

    Cost allocations: Jane's Peanut Brittle; Jerry's Furniture

    Week Five Problems 1) The CEO of Jane's Peanut Brittle has decided that she wants to see the financial statements of her two product divisions presented in a way that allows her to add them up to the total financial statement of the company. In order to accomplish that, the CFO must allocate the expenses of the company's tw

    Cost recovery - Blue Company

    On November 4, 2006, Blue Company acquired an asset (27.5-year residential real property) for $100,000 for use in its business. In 2006 and 2007 respectively, Blue took $321 and $2,564 of cost recovery. These amounts were incorrect because Blue applied the wrong percentages (i.e., those for 39-year rather that 27.5 year). Cal

    Grant Industries Inc for Construction of Manufacturing Facility

    40. During 2011, Grant Industries, Inc. constructed a new manufacturing facility at a cost of $12,000,000. The weighted average accumulated expenditures for 2011 were calculated to be $5,400,000. The company had the following debt outstanding at December 31, 2011: (a) 10 percent, five-year note to finance construction of th

    Types of Analysis

    Which of the following types of analysis would reveal that sales increased by $20,000 from 2005 to 2006? A) Capital analysis B) Vertical analysis C) Profitability analysis D) Horizontal analysis E) None of the above.

    Managerial Accounting - uncollectible accounts

    The allowance for uncollectible accounts currently has a debit balance of $200. The company's management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the amount of allowance for uncollectible accounts reported on the balance sheet? A) $2,675 B) $3,075 C) $3,275

    Managerial Accounting - direct write-off method

    A company has significant uncollectible receivables. Why is the direct write-off method acceptable? A) Assets are overstated on the balance sheet B) It violates the matching principle C) Both A & B are true D) Neither A nor B are true E) None of the above

    Managerial Accounting - Uncollectible-Account Expense

    The allowance for uncollectible accounts currently has a credit balance of $200. The company's management estimates that 2.5% of net credit sales will be uncollectible. Net credit sales are $115,000. What will be the amount of uncollectible-account expense reported on the income statement? A) $3,275 B) $3,075 C) $2,875 D)

    Cost Allocation & Activity-Based Costing

    Hello, Please help with the attached problems. Thank you. PROBLEM 6-5. Cost-Plus Contracts, Allocations and Ethics Pelton Instrumentation manufactures a variety of electronic instmments that are used in military and civilian applications. Sales to the military are generally on a cost-plus

    MANAGERIAL ACCOUNTING

    For selected financial statements for Micro Chip Computer Corporation click here . Answer questions 1 and 2 below based on the financial data. Determine the year-to-year percentage annual growth in total net sales. Based only on your answers to question #1, do you think the company will hit its sales goal of +10% annual re

    Short term financing, short term loans: Morin Const, SW Forging, Johnson, MDM

    The R. Morin Construction Company needs to borrow $100,000 to help finance the cost of a new $150,000 hydraulic crane used in the firm's commercial construction business. The crane will pay for itself in one year, and the firm is considering the following alternatives for financing its purchase: Alternative A-The firm's bank