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managerial accounting
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Managerial Accounting
Rosario Company, which is located in Buenos Aires, Argentina, manufactures a component used in farm machinery. The firm’s fixed costs are 4,000,000 p per year. The variable cost of each component
The South American Division of Worldwide Reference Corporation produces a pocket reference book containing brief descriptions of key historical and cultural sites in each South American country.
Hydro Systems Engineering Associates, Inc., provides consulting services to city water authorities. The consulting firm’s contribution-margin ratio is 20 percent, and its annual fixed expenses are
City RecSports Club (CRC) is run by the local government to offer tennis, basketball, and other athletic court facilities to the public. CRC has four locations in the metropolitan area, and each has
Emily Smith and two colleagues are considering opening a law office in a large metropolitan area that would make inexpensive legal services available to those who could not otherwise afford services.
Green Thumb Organic Fertilizer Company plans to sell 200,000 units of finished product in July and anticipates a growth rate in sales of 5 percent per month. The desired monthly ending inventory in
Eastside Hardware is a retail hardware store. Information about the store’s operations follows.November 20x1 sales amounted to $200,000.Sales are budgeted at $220,000 for December 20x1 and $200,000
EyeLight, Inc., a distributor of cosmetics, is in the process of assembling a cash budget for the first quarter of 20x1. The following information has been extracted from the company’s accounting
Shibby Shades Inc. manufactures artistic frames for sunglasses. Talia Demarest, controller, is responsible for preparing the company’s master budget. In compiling the budget data for 20x1, Demarest
MacGyver Corporation manufactures a product called Miracle Goo. The viscous substance is sold in six-gallon drums. Two top-secret raw materials are used in the production of Miracle Goo; these are
South Atlantic Chemical Company manufactures industrial chemicals in Rio de Janeiro, Brazil. The company plans to introduce a new chemical solution and needs to develop a standard product cost. The
Springsteen Company manufactures guitars. The company uses a standard, job-order cost-accounting system in two production departments. In the Construction Department, the wooden guitars are built by
Associated Media Graphics (AMG) is a rapidly expanding company involved in the mass reproduction of instructional materials. Felicity Ding, owner and manager of AMG, has made a concentrated effort to
Ogwood Company’s Johnstown Division is a small manufacturer of wooden household items. Julio Romero, division controller, plans to implement a standard-costing system. Romero has collected
Aquafloat Corporation manufactures rafts for use in swimming pools. The standard cost for material and labor is $89.20 per raft. This includes 8 kilograms of direct material at a standard cost of
What is the fixed-overhead budget variance?
What is the conceptual problem of applying fixed production overhead as a product cost?
Choose a city or state in the United States (or a regional government unit near you), and use the Internet to explore the annual budget for the governmental unit you selected. For example, you could
Montoursville Control Company, which manufactures electrical switches, uses a standard-costing system. The standard production overhead costs per switch are based on direct-labor hours and are as
Refer to the activity-based flexible budget for DCdesserts in Exhibit 11–11. Suppose that the company’s activity in June is described as follows:Required:1. Determine the flexible budgeted cost
Tyrone Fletcher, president of SoftGro, Inc., was looking forward to seeing the performance reports for November because he knew the company’s sales for the month had exceeded budget by a
Eastern Auto Parts Company manufactures replacement parts for automobile repair. The company recently installed a flexible manufacturing system, which has significantly changed the production
Flaming Foliage Sky Tours is a small sightseeing tour company in New Hampshire. The firm specializes in aerial tours of the New England countryside during September and October, when the fall color
Fall City Hospital has an outpatient clinic. Melissa Tran, the hospital’s chief administrator, is very concerned about cost control and has asked that performance reports be prepared that compare
WoodCrafts, Inc., is a manufacturer of furniture for specialty shops throughout the Northeast and has an annual sales volume of $12 million. The company has four major product lines: bookcases,
Maxwell Company uses a standard cost accounting system and applies production overhead to products on the basis of machine hours. The following information is available for the year just
Refer to the list of companies in Exercise 12–33.Data From Exercise 12.33Visit the website for one of the following companies, or a different company of your choosing.Required: Choose one of
Reliable Hydrant Company manufactures fire hydrants in Oswego, New York. The following information pertains to operations during May.Required: Compute the following operational
InterGlobal Industries is a diversified corporation with separate operating divisions. Each division’s performance is evaluated on the basis of profit and return on investment. The Air Comfort
Arjun Singh, head of the Sporting Goods Division of Reliable Products, has just completed a miserable nine months. “If it could have gone wrong, it did. Sales are down, income is down, inventories
Cape Cod Lobster Shacks, Inc. (CCLS), is a seafood restaurant chain operating throughout the northeast. The company has two sources of long-term capital: debt and equity. The cost to CCLS of issuing
You are preparing for an internship interview with a startup company. It’s very important to be knowledgeable about the company, so:• Search the Internet for a startup company that interests
Cortez Enterprises has two divisions: Birmingham and Tampa. Birmingham currently sells a diode reducer to manufacturers of aircraft navigation systems for $775 per unit. Variable costs amount to
Continental Corporation manufactures two types of electric coffeemakers, Regular and Deluxe. The major difference between the two appliances is capacity. Both are considered top-quality units and
Intercontinental’s special order also requires 1,000 kilograms of genatope, a solid chemical regularly used in the company’s products. The current stock of genatope is 8,000 kilograms at a book
Zytel Corporation produces cleaning compounds and solutions for industrial and household use. While most of its products are processed independently, a few are related. Grit 337, a coarse cleaning
Briefly define total cost and marginal cost.
Explain the role of value engineering in target costing.
Southern Tier Heating, Inc., installs heating systems in new homes built in the southern tier counties of New York state. Jobs are priced using the time and materials method. The president of
Briefly describe the time-and-material pricing approach.
MPE Inc. will soon enter a very competitive marketplace in which it will have limited influence over the prices that are charged. Management and consultants are currently working to fine-tune the
Camila’s Classic Clothes is a retailer that sells to professional women in the northeast. The firm leases space for stores in upscale shopping centers, and the organizational structure consists of
Disk City, Inc., is a retailer for digital video disks. The projected net income for the current year is $200,000 based on a sales volume of 200,000 video disks. Disk City has been selling the disks
Refer to the information given in the preceding case for Lehighton Chalk Company.Required:1. Reconcile Lehighton’s operating income reported under absorption and variable costing, during each year,
Information taken from Kombucha Cooperative’s records for the most recent year is as follows:Required:1. Assuming Kombucha Cooperative uses absorption costing, compute the inventoriable costs for
Visit the website for one of the following companies, or a different company of your choosing.Coca-Cola www.coca-cola.comBridgestone www.bridgestone.comMotorola www.motorola.comCasio
Search the Internet to find two companies other than those referenced in the chapter that report sustainability/ESG results using either the ISO or GRI models. Evaluate their reporting. Is one report
Visit the website of Interface, Inc., at www.interface.com. Read about its efforts toward sustainable development by clicking on the “Sustainability” link.Required: What is Interface’s
Yellowstone Company began operations on January 1 to produce hiking poles. It used an absorption costing system with a planned production volume of 100,000 units. During its first year of operations,
Dayton Lighting Company had operating income for the first 10 months of the current year of $200,000. One hundred thousand units were manufactured during this period (the same as the planned
Eco Can Company manufactures recyclable steel cans used in the food-processing industry. A case of cans sells for $50. The variable costs of production for one case of cans are as follows:Variable
Laser News Technology, Inc., manufactures computerized laser printing equipment used by newspaper publishers throughout North America. In recent years, the company’s market share has been eroded by
As a group, take a walking tour of your campus and the surrounding community. Make a list of all of the environmental costs of which you see evidence.Required: Make a presentation to the class
Discuss this comment by the owner of a local car dealership: “Budgeting is a waste of time. I’ve been running this business for 40 years. I can run it in my sleep.”
Fill in the missing amounts in the following schedules. 1. Sales* Cash receipts: From cash sales From sales on account' Total cash receipts April $80,000 $ ? ? $ ? May $60,000 $ ? 34,000 $
Bodin Company budgets on an annual basis. The following beginning and ending inventory levels (in units) are plannned for the year 20x1. Two units of raw material are required to produce each unit of
JLR Enterprises provides consulting services throughout California and uses a job-order costing system to accumulate the cost of client projects. Traceable costs are charged directly to individual
Orbital Industries of Canada, Inc., manufactures a variety of materials and equipment for the aerospace industry. A team of R & D engineers in the firm’s Winnipeg plant has developed a new
CompTech, Inc., manufactures printers for use with home computing systems. The firm currently manufactures both the electronic components for its printers and the plastic cases in which the devices
The volume of business-to-consumer (B2C) and business-to-business (B2B) e-commerce transactions totals many billions of dollars (and growing). What additional decision-making challenges does this
Use the Internet to access the website for one of the following companies, or any other company of your choosing.Delta Air Lines www.delta.comPepsico www.pepsico.comProcter & Gamble
Mighty Muffler, Inc., operates an automobile service facility that specializes in replacing mufflers on compact cars. The following table shows the costs incurred during a month when 600 mufflers
A computer operator at a blog hosting company earns $16 per hour. By contract, the employee earns $24 (time and a half) for overtime hours. The operator worked 45 hours during the first week of May,
The state Department of Education licenses cloud storage for keeping track of education statistics. The governor’s office recently began using the cloud storage space also. As a result of the
List the costs that would likely be included in each of the following marginal-cost calculations.1. The marginal cost of one additional passenger on an American Airlines flight.2. The marginal cost
Accra Cutlery manufactures kitchen knives. One of the employees, whose job is to cut out wooden knife handles, worked 48 hours during a week in January. The employee earns $12 per hour for a 40-hour
Marietta Shirt Shop manufactures T-shirts and decorates them with custom designs for retail sale on the premises. Several costs incurred by the company are listed below. For each cost, indicate which
Heartland Airways operates commuter flights in three states. Due to a political convention held in Topeka, the airline added several extra flights during a two-week period. Additional cabin crews
For each of the following costs, indicate whether the amount is a direct or indirect cost of the equipment maintenance department. Also indicate whether each cost is at least partially controllable
Several costs incurred by Bayview Hotel and Restaurant are given in the following list. For each cost, indicate which of the following classifications best describe the cost. More than one
The controller for Free-Range Poultry, Inc., estimates that the company’s fixed overhead is $100,000 per year. She also has determined that the variable overhead is approximately $.10 per chicken
Remote Education Technology, Inc., started and finished job number B67 during June. The job required $46,000 of direct material and 400 hours of direct labor at $17 per hour. The predetermined
Selected data concerning the past year’s operations of the Del Valle Manufacturing Company are as follows:Required:1. What was the cost of raw materials purchased during the year?2. What was the
Visit the website of a film producer, such as Disney, MGM, or Warner Bros.Walt Disney Studios www.disney.comMGM Studios www.mgm.comWarner Bros. Entertainment www.warnerbros.comRequired:Read about one
LaToya Creations employs a normal costing system. The following information pertains to the year just ended.• Total manufacturing costs were $2,500,000.• Cost of goods manufactured was
FlatPack Furniture Company, Inc., incurred the following costs during 20x2.During 20x2, manufacturing overhead of $180,000 was applied to production. Products costing $120,000 were finished, and
Anime Toy Company incurred the following costs in April to produce job number TB78, which consisted of 1,000 stuffed Pokémon Pikachu toys. Direct Material:4/1/20x0 Requisition number 101: 400 yards
The following data refer to snack maker Taquitos To Go for the year 20x1.Required:1. Prepare Taquitos To Go’s schedule of cost of goods manufactured for 20x1.2. Prepare the company’s schedule of
Stellar Sound, Inc., which uses a job-order costing system, had two jobs in process at the start of 20x1: job no. 64 ($84,000) and job no. 65 ($53,500). The following information is available:a. The
Finlon Upholstery, Inc., uses a job-order costing system to accumulate manufacturing costs. The company’s work-in-process on December 31, 20x1, consisted of one job (no. 2077), which was carried on
You are the controller for a company that produces handmade glassware.1. Choose a volume-based cost driver upon which to base the application of overhead. Write a memo to the company president
Teton UTV Works manufactures utility terrain vehicles (UTVs). The firm uses a job-order costing system, and manufacturing overhead is applied on the basis of direct-labor hours. Estimated
The following data refer to Huron Corporation for the year 20x2.Required:1. Prepare Huron’s schedule of cost of goods manufactured for 20x2.2. Prepare the company’s schedule of cost of goods sold
Explain the concept of a pool rate in activity-based costing. Exhibit 5-6 ABC Data and Calculations for the Machine-Related Cost Pool: Dronze Inc. Microsoft Excel DRONZE ABC CALCULATIONS 1.
Idaho Lumber Company grows, harvests, and processes timber for use in construction. The following data pertain to the firm’s sawmill during November.The equivalent units of activity for November
What are transferred-in costs?
United Technologies Corporation implemented activity-based costing in two of its subsidiaries: Otis Elevator Company and Carrier Corporation. The following table shows 27 activities and eight
Textile Crafts Company (TCC) sells craft kits and supplies to retail outlets and through online sites such as Etsy.com. Some of the items are manufactured by TCC, while others are purchased for
Explain how an activity-based costing system operates.
Visit the website of a city, state, or Canadian province of your choosing (e.g., the City of Charlotte, North Carolina, www.charlottenc.gov). Required: Read about the services offered to
Wheelco, Inc., manufactures automobile and truck wheels. The company produces four basic, highvolume wheels used by each of the large automobile and pickup truck manufacturers. Wheelco also has two
LeBron Patrick has recently been hired as controller of Valdosta Vinyl Company (VVC), a manufacturer of vinyl siding used in residential construction. VVC has been in the vinyl siding business for
Manchester Technology, Inc., manufactures several different types of printed circuit boards; however, two of the boards account for the majority of the company’s sales. The first of these boards, a
As a group, discuss the activities of your college or university (e.g., admission, registration, etc.). List as many activities as you can.Required: Make a presentation to your class that
Because you have always wanted to be an entrepreneur, invent your own product and describe at least five steps used in its production.Required: Explain how you would go about identifying
As a group, think carefully about the various activities and steps involved in the course registration process at your college or university.Required:1. List the steps in the registration process in
Midwest Home Furnishings Corporation (MHFC) manufactures a variety of housewares for the consumer market in the Midwest. The company’s three major product lines are cooking utensils, tableware, and
Each group should identify one public company’s product that it wishes to evaluate. The team should gather all the information it can about the product.Requirement1. Develop a list of key
In 75 words or fewer, explain what a price variance is and describe its potential causes.
In 75 words or fewer, explain the difference between traceable fixed costs and common fixed costs.
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