The suppliers account had a balance of $1,460 at the beginning of the month and $1,940 t the end of the month. The cost of supplies used during the month was $6,320. How would one calculate the cost of supplies purchased during the month?
Beddingfield Machine and Electronic Works (BMEW), spent $85,000 last year pouring a concrete pad adjacent to their central machine shop in order to park 18-wheel trailers that they had hoped to begin repairing last year for Peden Trucking under a new contract. In the fall Peden Trucking declared bankruptcy and closed it's doors
I need help with classifying weather are not these items are variable or fixed cost, direct or indirect cost, are controllable or uncontrollable cost. 1.Raw materials. 2.Staples used to secure packed boxes of the product. 3.Plant janitor's wages. 4.Order processing clerk's wages. 5.Advertising expenses. 6.Production work
14. Corresponds to CLO 4(b) Ferguson Molding Company produces custom bottle caps and jar covers for large cosmetic companies. Each customer owns the custom-made molds that are used for the caps and jar covers, so caps are produced only to customer order. Each order requires the setting of molds in molding machines. Two full time
Big Al Pizza Inc, a new subsidiary of Big Al's Pizza Emporium has been established to produce partially baked, flash frozen , 16 inch meat pizzas to be sold wholesale to grocery and convenience stores and school cafeterias. As a new entrant to the market, the company's goal is to produce and sell 319,500 pizzas in its first
An analyst has gathered the following data about a company: Average receivables collection period of 37 days. Average payables payment period of 30 days. Average inventory processing period of 46 days. What is their cash conversion cycle? A) 113 days. B) 53 days. C) 45 days.
Barnes Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled: Product # of Setups # of Components # of Direct Labor Hours Standard 22 8 375 Delu
Name the units of service on which cost-based payers may pay providers.
Kwikeze Company set the following standard costs for one unit of its product. Direct materials ((4.0 Ibs. @ $6.0 per Ib.) $ 24.00 Direct labor (1.8 hrs. @ $11.0 per hr.) 19.80 Overhead (1.8 hrs. @ $18.50 per hr.) 33.30 Total standard cost $ 77.10
Your company has developed a drug called Matrox that is an effective treatment for migraine headaches. You have just discovered that it can also be used for organ transplant patients to reduce the risk of organ rejection. The demand for migraine medications is considerably more elastic than the demand for drugs to reduce the ri
Compute ROI per Unit 1. Travis corporation produces high- performance rotors. It expects to produce $50,000 rotors in the coming year. It has invested $ 1,000,000 to produce rotors. The company has a required return on investment of 18% what is its ROI per unit? Compute markup percentage 2. Shandling corporation produces mi
Redstone Company spent $190,000 developing a new process, $40,000 in legal fees to obtain a patent, and $91,000 to market the process that was patented. How should these costs be accounted for in the year they are incurred?
1. The cost of an intangible asset includes all of the following except a. purchase price. b. legal fees. c. other incidental expenses. d. all of these are included. 2. When a patent is amortized, the credit is usually made to a. the Patent account. b. an Accumulated Amortization account. c. a Deferre
Is the following statement true? "Cost allocation refers to the process of assigning direct costs." Discuss with examples.
The following are production and cost data for two products, X and Y. Product X Product Y Contribution margin per unit $450 $280 Machine set-ups needed per unit? 25 14 The company can only perform 14,000 set-ups each period yet there is unlimited demand for each product. What is the maximum contribution margin for t
Several years ago, a taxpayer purchased 7 year recovery property as follows: May 15 - Black hoe - 475,000 Oct 9 - Tractor - 575,000 What was the cost recovery deduction for the Black Hoe in year 4?
Jersey Subs, Inc. wants to find an equation to estimate monthly utility costs. Jersey Subs has been in business for one year and has collected the following cost data for utilities: (see attached table) a. Which of the preceding costs is variable? Fixed? Mixed? Explain. b. Using the high-low method, determine the cost
What strategies can a firm use to optimize its cash cycle?
Santiago's Salsa is in the process of preparing a production cost budget for May. Actual cost in April were: Santiago's Salsa Production Costs April 2011 25,000 Production Jars of Salsa Ingredients cost
1.) What are reasonable kinds of restraints imposed on IT projects by management? What unreasonable restraints are sometimes encountered? 2.) Does it matter how much technical expertise top managers have in the area of information technology management in terms of the quality of their supervision of the process? 3.) To what
1.) "Breakeven analysis isn't very useful to a company because companies need to do more than break even to survive in the long run." Explain why you agree or disagree with this statement. 2.) Rondell Pharmacy is considering switching to the use of robots to fill prescriptions that consist of oral solids or medications in pil
1. EM, Inc. private labels mini cupcakes for Starbucks. For April 2012, it budgeted to purchase and use 18,000 pounds of flour at $0.39 a pound. Actual purchases and usage for April 2012 were 22,000 pounds at $0.42 a pound. EM budgeted to produce 120,000 mini cupcakes. EM budgets to obtain 4 mini-cupcakes per pound of flour.
Roland Andersson is the manager of the Ekland Division of Ystad Industries. He is 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. The division has the capacity to produce 50,000 units a quater and quarterly fixed overhead am
In regards to managerial accounting, how does cost behaviour and operating leverage help with the planning, operating and monitoring of activity in business?
Pepsi Company purchases 8,000 units of a part that it needs for production of its product. Notification has just been received from the supplier that a price increase will take effect shortly, which will bring the price of each part to $25. Pepsi Company is considering using some idle facilities to produce the part. The producti
Please see attachment for question.
Question: Energy Inc. is working on its direct labor budget for the next two months. Each unit of output requires 0.77 direct labor-hours. The direct labor rate is $11.20 per direct labor-hour. The production budget calls for producing 7,100 units in October and 6,900 units in November. The company guarantees its direct labor wo
Please see the document. 1. Harrow Inc. produces a single product and has the following cost structure: The absorption costing unit product cost is: 2. Jones Company produces a single product and has provided the following data concerning its most recent month of operations: What is the net operating income for th
Production and cost data for the month of February for process A of the Packer manufacturing Company follow: Units in process, February 1 (100% complete with respect with materials; 25% complete with respect to conversion cost) 2,000 New units started in process
3. A piece of new equipment will cost $70,000. The equipment will provide a cost savings of $15,000 per year for ten years, after which it will have a $3,000 salvage value. If the required rate of return is 14%, what is the equipment's net present value? See the attached file.