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Management Accounting
A manufacturer has 500 units in beginning inventory that are 30 percent complete.During the year, the firm starts 5,000 units. It completes the 500 units in the beginning inventory and 4,200 of the
Beach Chair Corporation makes two types of beach chairs, reclining and straight-back.The direct costs per unit of the two chairs are as follows:The company has no beginning inventory. During the
The Pure Water Company operates as the municipal water supplier for North Country Town. The town allows the Pure Water Company to charge consumers of the town water the costs to provide the water
A building contractor started and finished a 20-unit condominium complex during the past year. The direct costs per unit were \($100,000,\) and the indirect costs per unit were\($50,000.\) The
A lawyer allocates overhead costs based on her hours working with different clients.The lawyer expects to have \($200,000\) in overhead during the year and expects to work on clients’ cases 2,000
The Human Resources department’s costs are allocated to the other departments based on the number of direct labor hours. The department’s expected fixed costs are £400,000 and its variable costs
The town of Seaside has decided to construct a new sea aquarium to attract tourists.The cost of the measure is to be paid by a special tax. Although most of the townspeople believe that the sea
Eastern University, located in central Canada, prides itself on providing faculty and staff with a competitive compensation package. One aspect of this package is a tuition benefit of \($4,000\) per
Professors at Norton University are given a budget of \($12,000\) per year for travel and research purposes. Presently, the university allows the professors to carry over unused balances from one
The Sticky Company makes special glue that is used to make the layers of wood veneer adhere to make plywood. The glue-making process has been used for many years and the customers are satisfied with
The sales manager of the T Corporation is complaining about the budget process. He notes, “Each year the central administration asks for expected sales in each of the next three years. The first
You currently work as a financial analyst with a large investment bank, RP Investments. Last year, there was a major scandal at one of your major competitors, CC Bank, involving manipulation of some
A Fortune magazine article with the title ‘Why budgets are bad for business’ included the following statements:Budgets, say experts, control the wrong things, like head count, and miss the right
A company makes 200 units of A and 500 units of B. All the units of B are sold and one-half of the units of A are sold. There was no beginning inventory, but 100 units of A are in ending inventory.
A company has an agreement to sell product A for 20 percent above cost. The company also sells product B for \($10\) per unit. The variable cost of product A is \($4\) per unit and the variable cost
The Maintenance department of a firm has fixed costs of €40,000 and variable costs of €15 per maintenance hour supplied to other divisions. The Maintenance department expects to supply 1,000
Company C is composed of Division A and B. Division A has sales of \($200,000\) to outside buyers and \($50,000\) to Division B. Division B has sales of \($300,000\) to outside buyers. The costs of
Alpha Company has two service departments, A and B. The costs of these service departments are allocated to two production departments, C and D. The following table describes the usage of the
A consultant has an agreement with Worldwide Foods that all her costs while working on its project would be reimbursed in addition to her being paid £100 per hour. Other clients pay her a fee of
The Harrison Corporation manufactures a variety of small toys popular with children and their parents. It allocates indirect costs to different products using the following allocation bases and
The annual Cost of Goods Sold for a company is expected to be £82,000. The beginning inventory balance is £25,000. The ending inventory balance is expected to be £21,000.All purchases are on
The Topper Restaurant uses a flexible budget to estimate profit in each month. The restaurant expects to charge \($15\) per meal on average. Some costs are assumed to vary with the number of meals
The Fancy Umbrella Company makes recyclable beach umbrellas. The production process requires 3 square meters of plastic sheeting and a metal pole. The plastic sheeting costs \($0.50\) per square
Humdrum Company is worried about cash flows. The company has \($1,000\) in cash at the start of February. January’s total sales were \($20,000\) and total sales in February are expected to be
The Birdie Company makes badminton racquets. Beginning inventory for the coming year is 1,000 racquets. During the year, the company expects to sell 10,000 racquets and wants to have 800 racquets in
The Gold Bay Hotel is developing a master budget and pro-forma financial statements for 2016. The beginning balance sheet for the fiscal year 2016 is estimated to be as follows:During the year, the
The Jung Corporation’s budget calls for the following production:Each unit of product requires 3 kilograms of direct material. The company’s policy is to begin each quarter with an inventory of
August Company’s budget for the current month called for producing and selling 5,000 units at \($8\) each. Actual units produced and sold were 5,200, yielding revenue of\($42,120.\) Variable costs
The Corner Hardware Store is developing a budget to estimate monthly cash balances in the near future. At the end of December, the cash balance is \($6,000\) and the accounts payable balance is
The Quality Auto Parts Wholesaler maintains an inventory of car parts to supply local car-repair shops. The company is making cash-flow estimates for the coming year. The monthly inventory purchases
The Essex Eye Company (EEC) makes reading glasses. EEC’s expected beginning balance sheet on January 1, 2016 follows:During 2016, EEC expects to sell 100,000 units (reading glasses) for \($12\)
Hadrian Power manufactures small power supplies for car stereo systems. The company uses flexible budgeting techniques in order to deal with the seasonal and cyclical nature of the business. The
You work for a firm that specializes in mergers and takeovers, and your job is to analyze potential acquisitions. You are assigned the task to evaluate a possible merger between Europa and Italiana
The Shocker Company’s sales budget shows quarterly sales for the next year as follows:Company policy is to have a Finished Goods inventory at the end of each quarter equal to 20 percent of the next
Candide Chocolate expects to sell 100,000 cases of chocolate bars during the next year.Budgeted costs per case are €150 for direct materials, €120 for direct labor, and €75 for manufacturing
A chair manufacturer has established the following flexible budget for the month.a. What is the sales price per chair?b. What is the expected profit if 1,600 chairs are made? Sales Variable costs
Tubbs Company has established the following flexible budget for the coming month.a. What is the variable cost per unit?b. What is the fixed cost? Units produced 10,000 11,000 12,000 Total costs
Wolski Company expects sales in July to be €100,000. Of total sales, 20 percent are cash and the remaining are to be collected in August. Accounts receivable at the beginning of July is €70,000,
A company had the following budgeted and actual results during the year:Perform a variance analysis and identify variances that should be investigated Revenues Cost of Goods Sold General
A company makes multiple products. Direct labor hours are used to measure activity.Variable costs are expected to be \($40\) per direct labor hour. Revenues are expected to be\($60\) per direct labor
A company plans to sell 5,000 units; it has beginning inventory equal to 500 units and expects to have 800 units in ending inventory.How many units must be produced?
A company makes a product that requires 3 kilograms of raw material A and 5 meters of wire per unit. The cost of raw material A is \($10\) per kilogram. The cost of the wire is\($1\) per meter. There
A company plans to have sales of €20,000 in January, €30,000 in February, and €40,000 in March. Cash sales are expected to be 20 percent of the total and the remaining sales are sold on account
A company has the following beginning and expected ending balances:What are the cash effects of these changes in the balances? Accounts receivable Inventory Accounts payable Wages payable Beginning
Oakwood Golf Course is a private club that is owned by its members. It has the following managers and organizational structure:Eric Olson: General manager responsible for all the operations of the
The Bookmark Company uses cost-based transfer pricing to transfer books from the publication division to its bookstores. The transfer price is based on a budget established at the beginning of the
An Italian wholesaler of Mexican crafts is considering the importing of rugs. The rugs are hand-woven in southern Mexico and use natural dyes. The rugs cost an average of€250 including
News Inc. owns five newspaper stands. Each stand has a manager who is responsible for ordering newspapers each day. News Inc. purchases the newspapers for each stand.Any newspapers not sold at the
Memories Company sells cosmetics door to door. The company has traditionally paid its salespeople a commission based on total sales. The company is considering making each sales representative a
The president of a company is trying to improve his firm’s ROI. He asks a consultant for assistance. The consultant tells the president that he must increase either his profit margin (profit/sales)
A popular book claims that manufacturing managers should always work to improve throughput (the time from starting the manufacturing process to the time of sale).How is this philosophy related to ROI?
Peaceful Valley Company owns both hotels and manufacturing companies. One hotel has a convention center, which is leased to various groups. The manufacturing companies want to use the convention
Northern Blue Company has manufacturing plants and retail shops. The retail shops purchase products from the manufacturing plants. Currently, the manufacturing plants are operated as cost centers and
Brownside Company is highly decentralized. The divisions can issue their own debt, but they must pay their own interest. The manager of Brownside’s Park Division is evaluated based on ROI. He has
Lewis is a large manufacturer of office equipment, including copiers. Electronics Division of Lewis is a cost center. Currently, Electronics Division sells circuit boards to other divisions
Susan Byrne, the CEO of Troy Industrial Designs (TID), has called a meeting to evaluate the present method of charging the two offices at Dublin and Shannon, Ireland for the shared services of the
In late 2006, Ford Motor Company announced a major reorganization that would streamline decision making and lever its global assets. The company’s CEO, Alan Mulally, stated, “This new leadership
Monsanto is a global agricultural company. In the 1980s, Monsanto noticed that sales were declining in certain foreign markets. The local managers in these markets were asked to increase their
The following investment opportunities are available to an investment center manager:a. If the investment manager were currently making a return on investment of 16 percent, which project(s) would
Suppose a division of a company is treated as an investment center. The division manager is currently getting an ROI of 15 percent from existing assets of €1 million.The cost of capital (corporate
The Alpha division of the Carlson Company manufactures product X at a variable cost of £40 per unit. Alpha division’s fixed costs, which are sunk, are £20 per unit. The market price of X is £70
Scoff division of World-Wide Paint is currently losing money; therefore senior management is considering selling or closing Scoff. Scoff’s only product, an intermediate chemical called Binder, is
Disraeli Company has two divisions: Disraeli Bottles and Disraeli Juice. Disraeli Bottles makes glass containers, which it sells to Disraeli Juice and other companies. Disraeli Bottles has a capacity
A hotel company is divided into two divisions: Construction and Management. The Construction division builds the hotels and the Management division operates the hotels. The Construction division
The Aberdeen Fishing Company operates five trawlers (fishing boats) out of Aberdeen, Scotland. The boats are of different sizes and incur different operating expenses during the year. The following
Zwann Systems develops and manufactures residential water filtration units that are installed under the sink. The filtration unit removes chlorine and other chemicals from drinking water. This Dutch
Multi-National Enterprises (MNE) operates in two countries, X and Y, with tax rates of 40 percent and 10 percent respectively. Production costs are exactly the same in each country. The following
An investment center of an organization has the following investment opportunities:The opportunity cost of capital of the organization is 8 percent.What is the ROI of these investment opportunities
A manager has control of a division with €10 million in assets and no debt. The division’s profit is €500,000 for the year. The cost of capital is 8 percent.What is the ROI of the division?
The ROI of three potential investments is 20 percent, 15 percent, and 10 percent respectively. The cost of capital is 12 percent and the ROI of existing assets is 18 percent.Which investment(s) will
Division A makes 100 units of a product. The fixed cost is £200, and the variable cost is£5 per unit. Division B of the same company purchases the product from Division A. It adds £3 per unit and
Division A makes 100 units of a product for a fixed cost of \($200\) and a variable cost of\($5\) per unit. Division B of the same company purchases the product from Division A. It adds \($3\) per
Division A makes 100 units of a product for a fixed cost of \($200\) and a variable cost of\($5\) per unit. Division B of the same company purchases the product from Division A. It adds \($3\) per
The computer division of Acme Inc. located in France has profits (not including interest expense) of €15 million and investment (total assets) of €120 million. The division has an opportunity
Food services at Oxbridge University provides meals to Oxbridge’s conference facility.It also provides catering to off-campus organizations at an average cost of £30 per person. Off-campus events
The following data summarizes the operating performance of your company’s wholly owned Spanish subsidiary for 2014 to 2016. The opportunity cost of capital for this subsidiary is 10
A chair manufacturer has two divisions: framing and upholstering. The framing costs are \($100\) per chair and the upholstering costs are \($200\) per chair. The company makes 5,000 chairs each year,
Drivers for long-haul (international and cross-country) moving companies (e.g., Allied Van Lines, Euro Transport) are often independent contractors, whereas inter-city movers are usually employees of
In a bank, the employee interacting with someone seeking a loan does not have the authority to grant the loan.Why is the employee not given the responsibility to grant the loan?
Mary Sweet has just opened a candy shop. The store is open from 10 a.m. to 8 p.m. each day, which means that Mary must work a minimum of 10 hours a day for seven days a week. In addition to sales,
In the UK, professional football teams generally have a team manager who is responsible for selecting new talent, training the team, making decisions on game day, and also signing player contracts.
Samson Company is an engineering firm. Many of the employees are engineers who are working individually on different projects. All of the design work takes place on networked computers, thereby
Many college and university classes now require students to buy e-textbooks.Technology allows professors to monitor how much time each student is spending reading the text, which pages are being
The president of the Canby Insurance Company has just read an article on the balanced scorecard. A balanced scorecard is a set of performance measures that reflect the diverse interests and goals of
The new president of the Sawtooth division of the Waterhouse Company is complaining about the limitations that the CEO of Waterhouse Company has placed on him. The Sawtooth division is composed of
Royal Motors is an auto manufacturer. Until recently, the company has operated as an assembly line. The chassis started at one end of the factory, and as it moved through the plant, parts were added
The Travel Magazine executive group is very unhappy with its photographer. She had been sent to Tahiti to take some pictures of sunny beaches to entice visitors to Tahiti.Unfortunately, all the
The local electric utility receives thousands of payments every day from its customers.The following processes occur in handling the payments: opening the letters, recording the amount of the check
The manufacturing division manager of a computer chip company had traditionally been evaluated based on costs. As long as she could produce computer chips more cheaply than the previous year, she
Eastern Bank serves both university students and regular customers. For university students, the bank charges \($0.10\) per withdrawal. Regular customers get free withdrawal services. The bank earns
After an extensive cost-benefit analysis, Mercy General Hospital has made a decision to outsource its ambulance operations to a private company. The administration has narrowed down its decision to
Europark Entertainment is trying to decide what price to charge customers to enter its new amusement park. The cost of operating the park is fixed at €300,000 per day. All rides are free with the
FloorCare manufactures, packages, and sells floor wax to hospitals. Truck shipments of chemicals are delivered to FloorCare, which then mixes and packages the floor wax in containers of various
A grocery store makes pricing decisions based on product cost. All other costs to operate the store are fixed at \($800,000\) per year. The average cost of inventory at the store is \($1million.\)
The Peter Paint Company makes water- and oil-based paints for houses. Recently, the firm has been investigating other opportunities. One possibility is producing ‘finger paints’ for children.
Internetco offers a wireless connection to the Internet in Edinburgh, Scotland. The wireless connection is achieved with a remote modem that sends and receives signals through a network of antennae
The FastBike Company manufactures bicycles and is trying to identify which activities are value-added and which activities are non-value-added. Describe each of the following activities as
A bank spends considerable time in evaluating loan applicants. People come to banks to request loans to purchase houses, cars, or for business reasons. The loan officers must analyze these requests
In the United States, no universal health-care system, comparable to those in Canada, the United Kingdom and Europe, exists. US businesses often provide health insurance for their employees, but have
First Union Corporation in the United States uses ‘Einstein,’ an in-house computer program, to rank customers based on their profitability. ‘Profitable’ customers keep several thousand
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