Only Managers Have Knowledge to Measure Opportunity Cost
1. Measurement of Opportunity Cost "Accountants cannot measure opportunity cost. Only managers have the knowledge to measure it." Do you agree with this statement? Why or why not?
1. Measurement of Opportunity Cost "Accountants cannot measure opportunity cost. Only managers have the knowledge to measure it." Do you agree with this statement? Why or why not?
1. Explain Traditional managerial approach? How would allocate resources based on cost efficiencies attempting to optimize benefit for the cost. How political approach to budgeting is one of political responsiveness and ranking system based on relative strength of a group. 2. How would how will you know what the needs are
1. Assume the following cost information for Marie Company: Selling price per unit $144 Variable costs per unit $80 Total fixed costs $80,000 Tax rate 40% If fixed costs increased by 10% and management wanted to maintain the original break-even point, then the selling price per unit
1. Clare Company currently sells 19,000 units. Total fixed costs are $84,000, and the contribution margin per unit is $6.00. Clare's tax rate is 40%. The margin of safety in units is: a)3,000 units b)5,000 units c)7,500 units d)14,000 units 2. Number of engineering hours is a likely cost driver f
1. Burning Company, a producer of salsa, has the following information: Income tax rate 30% Selling price per unit $5.00 Variable cost per unit $3.00 Total fixed costs $90,000.00 The break-even point in dollars is: a)$150,000 b)$180,000 c)$225,000 d)$270,000
1. As the cost driver activity level decreases within the relevant range: a)total fixed costs increase b)fixed costs per unit decreases c)total variable costs decrease d)variable costs per unit decreases 2. The following information is for Allen Corporation: Total Fixed Cost $313,500 Varia
1. The level of sales at which revenues equal expenses and net income is zero is called the: a)margin of safety b)contribution margin c)break-even point d)marginal income point 2. The ________ is the change in total results under a new condition, in comparison with some given or known conditio
Final Paper: Your final project is to prepare a 6- to 8-page paper on this topic related to managerial changes within an organization. Since an organization's costs are really considered proprietary information and very difficult to find, doing a paper strictly on the cost accounting system and costs of the entity would be almo
A nursery school for pre-kindergarten children has determined that the following biweekly revenues and costs occur at different levels of enrollment: STUDENTS TOTAL REVENUE TOTAL COSTS 10 $3000. $2100. 15 4600. 2700. 16
Could someone give me their opinions on how to boost the demand for more management accounting career options on college grounds?
Please calculate the average inventory period, accounts receivables period, accounts payable period, cash conversion cycle, and the operating cycle for Wal-Mart in 2007 and 2006 based on the attached annual report. See attached Annual Report, PDF format, for details.
I need help getting started with the attached question regarding cost behavior and cost drivers. **See ATTACHED file for complete question** 1. Refer to Example 1. For the labor wages and depreciation of plant and machinery examples of production costs given in the Example 1, describe their cost behavior in relation to the
1. "The relevant range pertains to fixed costs, not variable costs." Do you agree? Explain. 2.Describe three ways of lowering a break-even point. 3. "The contribution margin and gross margin are always equal." Do you agree? Explain.
Garrett Industries turns over its inventory 6 times each year, it has an average collection period of 45 days and an average payment period of 30 days. The firm's annual sales are $3 million. Assume there is no difference in the investment per dollar of sales in inventory, receivables, and payables, and a 365-day year. a) Cal
Camp Manufacturing turns over its inventory 8 times each year, has an average payment period of 35 days, and has an average collection period of 60 days. The firm's annual sales are 3.5 million dollars. Assume there is no difference in the investment per dollar of sales in inventory, receivables, and payables; and a 365 day year
Define the four functions of management (planning, organizing, leading, and controlling). Be sure to cite at least two sources .
You are a manager of a firm that sells a "commodity" in market that resembles perfect competition, and your cost function is C(Q) = Q + 1Q^2. Unfortunately due to production lags, you must make your output decision prior to knowing for certain the price that will prevail in the market. You believe that there is a 60 percent ch
A firm has annual operating outlays of $1,800,000 and a cash conversion cycle of 60 days. If the firm currently pays 12 percent for negotiated financing and reduces its cash conversion cycle to 50 days, what is the annual savings? A firm has interest expense of $145,000, preferred dividends of $25,000, and a tax rate of 40 pe
Please help with the following problem. Belinda Corporation has provided the following production and average cost data for two levels of monthly production volume. The company produces a single product. production volume 1,000 units 3,000 units Direct materials
Andre Corporation has provided the following production and average cost data for two levels of monthly production volume. The company produces a single product. production volume 4,000 units 5,000 units Direct materials $99.20 per unit $99.20 per unit Direct labor
Read the following article: "The Cost Accountant is Dead; Long Live the Business Process Analyst". Could you please help me in discussing the change in roles from Cost Accountant to Business Process Analyst? See the following link for the attachment: http://www.imanet.org/PDFs/Public/SF/2005_12/1205xbrl.pdf
I am having difficulty understanding how the owner can come up with $400 as the reason he won't change. Please see attached 1-3 problem and see if you can help me understand why he would or would not need to change ovens. Valley Pizza's owner bought his current pizza oven two years ago for $9,000, and it has one more year of
Deer Valley Lodge, a ski resort in the Wasatch Mountains of Utah, has plans to eventually add five new chairlifts. Suppose that one lift costs $2 million, and preparing the slope and installing the lift costs another $1.3 million. The lift will allow 300 additional skiers on the slopes, but there are only 40 days a year when the
I. Classifications Part A: Classifications Determine the classification for each cost item based on 2 different schemes. First, determine cost behavior: whether the cost is variable or fixed (relative to the number of units produced); check the appropriate space. Then, determine whether the cost is a product or a pe
I have to write a memo in which I describe the various terms used to describe costs (fixed, variable, direct, indirect, sunk, etc.), including examples of each. There must be seven descriptors of cost.
Coley Company estimates that its production workers will work 125,000 direct labor hours during the upcoming period. If the predetermined overhead rate is $4 per direct labor hour, what is the total amount of overhead costs? a. $4 per unit. b. $400,000. c. $500,000. d. None of the above. Sin
Please provide solutions to these questions. E13.6 College carriers manufactures backpacks that are sold to students for use as book bags. Identify a specific item in this company's manufacturing, selling or administrative processes for which the costs would be classified as a. raw materials b. direct labor c. variable
BYP 9-2 Prasad & Green Inc. manufactures ergonomic devices for computer users. Some of their more popular products include glare screens (for computer monitors), keyboard stands with wrist rests, and carousels that allow easy access to magnetic disks. Over the past 5 years, they experienced rapid growth, with sales of all produc
I am currently using Introduction to Managerial Accounting 8th edition Brewer, Garrison, Noreen. I ask you to please check and justify the answers. Just for practice. Thanks! 41. The budgeted amount of raw materials to be purchased is determined by _____. a. adding the desired ending inventory of raw materials to the
Yamane Corporation, a manufacturer, uses the step-down method to allocate service department costs to operating departments. The company has two service departments, Administration and Facilities, and two operating departments, Assembly and Finishing. Data concerning those departments follow: Service Department