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managerial accounting

Questions and Answers of Managerial Accounting

The Converting Department of Forever Fresh Towel and Tissue Company had 840 units in work in process at the beginning of the period, which were 75% complete. During the period, 17,600 units were
Units of production data for the two departments of Continental Cable and Wire Company for April of the current fiscal year are as follows: If all direct materials are placed in process at the
The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. a. Determine the number of units in
a. Based upon the data in Exercise 20-7, determine the following:1. Direct materials cost per equivalent unit.2. Conversion cost per equivalent unit.3. Cost of the beginning work in process completed
Kellogg Company manufactures cold cereal products, such as Frosted Flakes. Assume that the inventory in process on October 1 for the Packing Department included 900 pounds of cereal in the packing
Georgia Products Inc. completed and transferred 180,000 particle board units of production from the Pressing Department. There was no beginning inventory in process in the department. The ending
The charges to Work in Process?Assembly Department for a period, together with information concerning production, are as follows. All direct materials are placed in process at the beginning of
a. Based on the data in Exercise 20-11, determine the following:1. Cost of beginning work in process inventory completed this period.2. Cost of units transferred to finished goods during the
Lone Star Refining Company processes gasoline. On September 1 of the current year, 4,000 units were 3??5 completed in the Blending Department. During September, 36,000 units entered the Blending
The following information concerns production in the Forging Department for June. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred
Based on the data in Exercise 20-14, determine the following:a. Cost of beginning work in process inventory completed in June.b. Cost of units transferred to the next department during June.c. Cost
The debits to Work in Process?Roasting Department for St. Arbucks Coffee Company for May 2010, together with information concerning production, are as follows: All direct materials are placed in
Prepare a cost of production report for the Cutting Department of Perma-Wear Carpet Company for October 2010, using the following data and assuming that all materials are added at the beginning of
Performance Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On December 1, there
Franklin Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Converting. Pulp is first placed into a vessel at the beginning of papermaking
Oasis Bottling Company bottles popular beverages in the Bottling Department. The beverages are produced by blending concentrate with water and sugar. The concentrate is purchased from a concentrate
Instant Memories Inc. produces photographic paper for printing digital images. One of the processes for this operation is a coating (solvent spreading) operation, where chemicals are coated on to
The following are some quotes provided by a number of managers at Solaris Machining Company regarding the company’s planned move toward a just-in-time manufacturing system: Director of Sales: I’m
The Converting Department of Osaka Napkin Company uses the average cost method and had 2,000 units in work in process that were 60% complete at the beginning of the period. During the period, 25,200
Units of production data for the two departments of Atlantic Cable and Wire Company for August of the current fiscal year are as follows: Each department uses the average cost method.a. Determine
The following information concerns production in the Finishing Department for March. The Finishing Department uses the average cost method. a. Determine the number of units in work in process
The charges to Work in Process?Baking Department for a period as well as information concerning production are as follows. The Baking Department uses the average cost method, and all direct materials
The following information concerns production in the Forging Department for June.The Forging Department uses the average cost method. a. Determine the cost per equivalent unit.b. Determine the cost
The increases to Work in Process—Roasting Department for Boston Coffee Company for December 2010 as well as information concerning production are as follows:Work in process, December 1, 1,500
Prepare a cost of production report for the Cutting Department of Chota Carpet Company for October 2010. Use the average cost method with the following data:Work in process, October 1, 9,000 units,
Floor Guard Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting
Ariba Coffee Company roasts and packs coffee beans. The process begins by placing coffee beans into the Roasting Department. From the Roasting Department, coffee beans are then transferred to the
Angel White Flour Company manufactures flour by a series of three processes, beginning with wheat grain being introduced in the Milling Department. From the Milling Department, the materials pass
Hearty Soup Co. uses a process cost system to record the costs of processing soup, which requires a series of three processes. Materials are entered at the beginning of the Filling process. The
Starburst Coffee Company roasts and packs coffee beans. The process begins in the Roasting Department. From the Roasting Department, the coffee beans are transferred to the Packing Department. The
For a recent year, McDonald’s company-owned restaurants had the following sales and expenses (in millions):Sales $16,083Food and packaging $ 5,350Payroll 4,185Occupancy (rent, depreciation, etc.)
For the current year ending March 31, Jwork Company expects fixed costs of $440,000, a unit variable cost of $50, and a unit selling price of $75.a. Compute the anticipated break-even sales
Anheuser-Busch Companies, Inc., reported the following operating information for a recent year (in millions):Net sales $15,717.1Cost of goods sold
Currently, the unit selling price of a product is $280, the unit variable cost is $230, and the total fixed costs are $525,000. A proposal is being evaluated to increase the unit selling price to
The Dash Club of Tampa, Florida, collected recipes from members and published a cookbook entitled Life of the Party. The book will sell for $25 per copy. The chairwoman of the cookbook development
Media outlets such as ESPN and Fox Sports often have Web sites that provide in-depth coverage of news and events. Portions of these Web sites are restricted to members who pay a monthly subscription
Sprint Nextel is one of the largest digital wireless service providers in the United States. In a recent year, it had approximately 41.5 million direct subscribers (accounts) that generated revenue
For the coming year, Paladin Inc. anticipates fixed costs of $120,000, a unit variable cost of $60, and a unit selling price of $90. The maximum sales within the relevant range are $900,000.a.
Using the data for Paladin Inc. in Exercise 21-17, (a) Determine the maximum possible operating loss, (b) Compute the maximum possible income from operations, (c) Construct a profit-volume chart, and
Name the following chart, and identify the items represented by the letters (a) through(f).
Name the following chart, and identify the items represented by the letters (a) through(f).
New Wave Technology Inc. manufactures and sells two products, MP3 players and satellite radios. The fixed costs are $300,000, and the sales mix is 40% MP3 players and 60% satellite radios. The unit
a. If Fama Company, with a break-even point at $360,000 of sales, has actual sales of $480,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage of sales?b. If the margin
Varner Inc. and King Inc. have the following operating data: a. Compute the operating leverage for Varner Inc. and King Inc.b. How much would income from operations increase for each company if the
In the following equations, based on the variable costing income statement, identify the items designated by “X”:a. Net Sales _ X = Manufacturing Marginb. Manufacturing Margin _ X = Contribution
On July 31, 2010, the end of the first month of operations, Hilton Company prepared the following income statement, based on the absorption costing concept: Prepare a variable costing income
On June 30, 2010, the end of the first month of operations, Smithey Manufacturing Co. prepared the following income statement, based on the variable costing concept: Prepare an absorption costing
West Coast Apparel Co. manufactures a variety of clothing types for distribution to several major retail chains. The following costs are incurred in the production and sale of blue jeans: a. Salary
Battonkill Company, operating at full capacity, sold 112,800 units at a price of $150 per unit during 2010. Its income statement for 2010 is as follows: The division of costs between fixed and
For the coming year, Tolstoy Company anticipates a unit selling price of $100, a unit variable cost of $30, and fixed costs of $2,100,000.Instructions1. Compute the anticipated break-even sales
Last year, Douthett Inc. had sales of $2,400,000, based on a unit selling price of $600. The variable cost per unit was $440, and fixed costs were $544,000. The maximum sales within Douthett’s
Data related to the expected sales of snowboards and skis for Winter Sports Inc. for the current year, which is typical of recent years, are as follows: The estimated fixed costs for the current
Soldner Health Care Products Inc. expects to maintain the same inventories at the end of 2010 as at the beginning of the year. The total of all production costs for the year is therefore assumed to
New Age Furniture Company manufactures sofas for distribution to several major retail chains. The following costs are incurred in the production and sale of sofas: a. Salary of production vice
Gaelic Industries Inc., operating at full capacity, sold 22,350 units at a price of $150 per unit during 2010. Its income statement for 2010 is as follows: The division of costs between fixed and
For the coming year, Favre Products Inc. anticipates a unit selling price of $160, a unit variable cost of $90, and fixed costs of $1,400,000.Instructions1. Compute the anticipated break-even sales
Last year, Cul de sac Co. had sales of $740,000, based on a unit selling price of $200. The variable cost per unit was $120, and fixed costs were $260,000. The maximum sales within Cul de sac’s
Data related to the expected sales of two types of flat panel TVs for Yan Electronics Inc. for the current year, which is typical of recent years, are as follows: The estimated fixed costs for the
Steamboat Co. expects to maintain the same inventories at the end of 2010 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost
Differentiate between a cost center and a profit center.
Differentiate between a profit center and an investment center.
In what major respect would budget performance reports prepared for the use of plant managers of a manufacturing business with cost centers differ from those prepared for the use of the various
Weyerhaeuser developed a system that assigns service department expenses to user divisions on the basis of actual services consumed by the division. Here are a number of Weyerhaeuser’s activities
What is the major shortcoming of using income from operations as a performance measure for investment centers?
Why should the factors under the control of the investment center manager (revenues, expenses, and invested assets) be considered in computing the rate of return on investment?
In a decentralized company in which the divisions are organized as investment centers, how could a division be considered the least profitable even though it earned the largest amount of income from
How does using the rate of return on investment facilitate comparability between divisions of decentralized companies?
The rates of return on investment for Fosina Co.’s three divisions, East, Central, and West, are 26%, 20%, and 15%, respectively. In expanding operations, which of Fosina Co.’s divisions should
What is the objective of transfer pricing?
The centralized employee Travel Department of Teapot Dome Company has expenses of $180,000. The department has serviced a total of 2,000 travel reservations for the period. The Norsk Division has
The centralized Help Desk of Hayman Company has expenses of $140,000. The department has provided a total of 5,000 hours of service for the period. Computer Division has used 2,000 hours of Help Desk
Using the data for Teapot Dome Company from Practice Exercise 24-2A along with the data provided below, determine the divisional income from operations for the Norsk and Westdivisions.
Using the data for the Hayman Company from Practice Exercise 24-2B along with the data provided below, determine the divisional income from operations for the Computer Division and the
Mathews Company has income from operations of $50,000, invested assets of $200,000, and sales of $500,000. Use the DuPont formula to compute the rate of return on investment and show (a) The profit
Wakelin Company has income from operations of $20,125 invested assets of $87,500 and sales of $175,000. Use the DuPont formula to compute the rate of return on investment and show (a) The profit
The Consumer Division of Woods Company has income from operations of $60,000 and assets of $440,000. The minimum acceptable rate of return on assets is 12%. What is the residual income for the
The Commercial Division of LaSalle Company has income from operations of $135,000 and assets of $650,000. The minimum acceptable rate of return on assets is 10%. What is the residual income for the
The materials used by the Laramie Division of Barron Company are currently purchased from outside suppliers at $40 per unit. These same materials are produced by Barron’s Astoria Division. The
The materials used by the Kenosha Division of Ehrlich Company are currently purchased from outside suppliers at $75 per unit. These same materials are produced by the High Point Division. The High
Partially completed budget performance reports for Iliad Company, a manufacturer of air conditioners, are provided below. a. Complete the budget performance reports by determining the correct
The following data were summarized from the accounting records for DeSalvo Construction Company for the year ended June 30, 2010: Prepare divisional income statements for DeSalvo ConstructionCompany.
For each of the following service departments, identify an activity base that could be used for charging the expense to the profit center.a. Central purchasing b. Legal c. Accounts
For each of the following service departments, select the activity base listed that is most appropriate for charging service expenses to responsibleunits.
In divisional income statements prepared for Mills Construction Company, the Payroll Department costs are charged back to user divisions on the basis of the number of payroll checks, and the
Harris Corporation, a manufacturer of electronics and communications systems, uses a service department charge system to charge profit centers with Computing and Communications Services (CCS) service
Encounter Sporting Goods Company has two divisions, Whole sale and Retail, and two corporate service departments, Tech Support and Accounts Payable. The corporate expenses for the year ended December
Trans-Continental Airlines, Inc., has two divisions organized as profit centers, the Passenger Division and the Cargo Division. The following divisional income statements were prepared: The service
X-Out Sporting Goods Co. operates two divisions—the Action Sports Division and the Team Sports Division. The following income and expense accounts were provided from the trial balance as of June
The income from operations and the amount of invested assets in each division of Devon Industries are as follows: a. Compute the rate of return on investment for each division.b. Which division is
Based on the data in Exercise 24-10, assume that management has established a 10% minimum acceptable rate of return for invested assets.a. Determine the residual income for each division.b. Which
One item is omitted from each of the following computations of the rate of return on investment: Determine the missing items, identifying each by the appropriateletter.
The condensed income statement for the International Division of King Industries Inc. is as follows (assuming no service department charges):Sales $1,200,000Cost of
The Walt Disney Company has four major sectors, described as follows: ? Media Networks: The ABC television and radio network, Disney channel, ESPN, A&E, E!, and Disney.com. ? Parks and Resorts:
Data for Schmidt Company is presented in the following table of rates of return on investment and residual incomes: Determine the missing items, identifying each item by the appropriateletter.
Data for the North, South, East and West divisions of McGonigel Company are as follows: a. Determine the missing items, identifying each by the letters (a) through (l). Round whole percents to one
Hilton Hotels Corporation provides lodging services around the world. The company is separated into three major divisions. Hotel Ownership: Hotels owned and operated by Hilton. Managing and
American Express Company is a major financial services company, noted for its American Express card. Below are some of the performance measures used by theAverage cardmember spending
Several years ago, United Parcel Service (UPS) believed that the Internet was going to change the parcel delivery market and would require UPS to become a more nimble and customer-focused
Electronic components used by the Engine Division of Armstrong Manufacturing are currently purchased from outside suppliers at a cost of $200 per unit. However, the same materials are available from
Based on Armstrong Manufacturing’s data in Exercise 24–20, assume that a transfer price of $190 has been established and that 35,000 units of materials are transferred, with no reduction in the

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