Share
Explore BrainMass

Management Accounting

Standard Cost and Variances

19. The following materials standards have been established for a particular raw material used in the company's sole product: Standard quantity per unit of output 1.0 pound Standard price $16.60 per pound The following data pertain to operations concerning the product for the last month: Actual materials purch

Cost Flows, Prime Cost and Conversion Costs

Custom Fiberglass Products had the following inventory balances at the beginning and ending of August 2007: August 1 August 31 Raw materials inventory $16,900 $21,700 Work-in-Process inventory 32,100 29,600 Finished goods inventory 25,800 22,600 During August, the compa

Managerial Accounting and Marketing Costs

Golub Company manufactures three products, A, B, and C. It has three marketing managers, one for each product. During the first year of operations, the company allocated its $30,000 of actual advertising expense to products on the basis of the relative net sales of each product. In the second year, the advertising budget was inc

Production and Cost Variances Analysis

Beta Company produces two products, A and B, each of which uses materials X and Y. The following unit standard costs apply: Material X Material Y Direct Labor Product A 4 lbs @ $13 1 lb @ $8.50 1/5 hr @ $14 Product B 6 lbs @ $13 2 lbs@ $8.50 1/3 hr @ $14 During November, 4,200 units of A

Managerial Accounting

Please see attached file for full problem description. 1. Edgar Auto Manufacturing Company produces cars for both the American and Japanese markets. It currently manufactures the transmissions that go into the cars. Hoyotsu Corp. has offered to provide transmissions to the company for $400 each. The company now produces 5,

Managerial Accounting

See attached file for full problem description. EX. 1). Martz Corp. has 3 departments. Data for the most recent year is as follows: C A T Sales 4,000 1,920 2,240 Var. Expenses 3,280 1,420

The solution to Cost allocation

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

Managerial Accounting

Like Magic Company. See attached file for full problem description. LIKE MAGIC COMPANY Four years ago, Tom Turner developed a new type of cream to improve skin appearance. After a few weeks of tests, his wife, Tracy, and her friends declared that the cream worke

Fundamental Managerial Accounting Concepts

Fundamental Managerial Accounting Concepts 1. Explain the effect of undercosting or overcosting on profitability. 2. Explain ratio analysis and their purpose. Do you think that all of the ratio analysis is necessary, if not, please explain. 3. Describe the factors involved in communicating useful financial informa

Classifying Cost Items

Classify the cost items as direct or indirect , fixed or variable. Cost Item D or I F or V a. Salary of the production department manager who oversees manufacturing. b. Salaries of company founders. C. Cardboard trays used to

Cost Accumulation and Allocation Problem

Belcher Manufacturing Company makes two different products, M and N. The company's twp departments are names after the products; for example, Products M is made in Department M. Belcher's accountant has identifies the following annual costs associated with these two products. Financial Data Salary of vice president of pr

Classifying Cost

Use the following format to classify each cost as a product cost or a general, selling, and administrative (G,S,A) cost. Also indicate whether the cost would be recorded as an asset or an expense. The first is shown as an example. Cost Category Product, G, S, & A Asset

Cost approaches to pricing

Josie's Place Inn, a proposed 30 rooms motel with a fully equipped restaurant, will cost $750000 to construct. An estimated additional $50000 will be invested in the business as working capital. Of the total $800000 investment, $400000 is to be secured from the Columbo Federal Bank at the rate of 10% interest. The proje

Help with this problem

SomethingNew is a small one-person company that provides elaborate and imaginative wedding cakes to order for very large wedding receptions. The owner of the company would like to understand the cost structure of the company and has compiled the following records of activity and costs incurred. The owner believes that the number

What is the opportunity cost of this investment?

The Hopedale Inn invested in a 10-acre plot of land for future development 20 years ago. It purchased this land for $100000 and it could be sold today for $500000. The Hopedale Inn's average and incremental tax rates are 22% and 30%, respectively. The Inn is considering building a new lodging facility on this land. Q: What is

Managerial Accountings

Dilbert Farm Supply is located in a small town in the rural west. Data regarding the store's operations follow: Sales are budgeted at $260,000 for November, $230,000 for December, and $210,000 for January. Collections are expected to be 80% in the month of sale, 19% in the month following the sale, and 1% uncollectible. The

Opportunity Cost

Trying to understand how to Opportunity cost work in my problem and how to set it up in computing for operating income. Please see attachment 2-31 2-31 Opportunity Cost Healthy Hearth specializes in lunches for health conscious. The company produces a small selection of lunch offering each day. The menu selections m

Cost Allocation Table and Cover Memo

You are the Division Manager for personal computers at Technology Unlimited. As the Division Manager, you are responsible for deciding which PC's to manufacture. Currently your division manufactures three different models of personal computers: 1. Your Entry Level PC is losing money. Sales are $200,000 on 20,000 units. Va

Role of cost drives

What is the role of cost drivers in an activity-based cost system? Explain how analysis of cost drivers can be useful in identifying inefficient activities and the cause(s) of inefficiency.

Assessing Cost Drivers

Discuss the implications of GASBS 34 and government-wide financial reporting on the budgeting process in a city. Note: Please cite the sources

Determine cost of an asset

Northeast Logging Co. of $120,000. The seller agreed to allow a 5 percent discount because Northeast paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $2,500. Northeast had to hire an individual to operate the saw. Northeast had to build a special platform to mount the saw. The cost of the platfor

Managerial Accounting

Question One: What does the ratio return on investment (ROI) measure and what are some of the possible ways it can be computed? Question Two: What are the two critical elements in the legal definition of fraud? Explain. Question Three: Describe a situation where an employee might feel justified in committing fraud again

Intro Management Science

Harry and Melissa Jacobson produce handcrafted furniture in a workshop on their farm. They have 'obtained a load of 600 board feet of birch from a neighbor and are planning to produce round kitchen tables and ladder-back chairs during the next three months. Each table will require 30 hours of labor, each chair will require 18 ho

Seminar offered by the National Education Foundation (NEF)

Former G.E. Chairman Jack Welch is highly sought after as a guest speaker. His fee can run as high as $100,000 for a single two-hour appearance. Recently, he was asked to speak at a seminar offered by the National Education Foundation (NEF). Due to the charitable nature of the organization, Mr. Welch offered to speak for $75,0

Managerial Accounting Case

Please read the following pertaining to the case: The following is an excerpt from a press conference with Marv Throneberry, CEO of Gargantua: "Gargantua had a breakthrough year in 2008. Earnings increased for the 5th straight year, earnings per share were almost 50% higher than in any previous year, Return on Equity was at