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Managerial Accounting 4th edition Karen W. Braun, Wendy M. Tietz - Solutions

StoreAway produces plastic storage bins for household storage needs. The company makes two sizes of bins: Large (50 gallon) and Regular (35 gallon). Demand for the product is so high that the company can sell as many of each size as it can produce. The same machinery is used to produce both sizes.
Consider StoreAway from S8- 8. Assume that demand for Regular bins is limited to 38,400 units and demand for Large bins is limited to 22,000 units. 1. How many of each size bin should the company make now? 2. Given this product mix, what will be the company’s operating income? 3. Explain why the
Suppose a Panini’s restaurant is considering whether to (1) bake bread for its restaurant in- house or (2) buy the bread from a local bakery. The chef estimates that variable costs of making each loaf include $ 0.46 of ingredients, $ 0.22 of variable overhead (electricity to run the oven), and $
Wheeler Food in Ashland, Kentucky, manufactures and markets snack foods. Tessa Lee manages the company’s fleet of 180 delivery trucks. Lee has been charged with “reengineering” the fleet- management function. She has an important decision to make. • Should she continue to manage the fleet
Refer to Wheeler Food in S8- 11. What qualitative factors should Lee consider before making a final decision?Wheeler Food in S8- 11Book value of Wheeler Food’s trucks, with an estimated five- year life...............$ 3,300,000 Annual leasing fee for new fleet- management
Jensen Auto Components has an inventory of 480 obsolete remote entry keys that are carried in inventory at a manufacturing cost of $ 78,720. Production Supervisor Karen Rinke must decide to do one of the following: • Process the inventory further at a cost of $ 23,000, with the expectation of
CocoaHeaven processes cocoa beans into cocoa powder at a processing cost of $ 10,000 per batch. CocoaHeaven can sell the cocoa powder as is, or it can process the cocoa powder further into chocolate syrup or boxed assorted chocolates. Once processed, each batch of cocoa beans would result in the
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility). Refer to Exhibit 1- 6 for the complete standard.1. Stanley does not know how to categorize fixed costs
Jubilee Frozen Foods purchased new computer- controlled production machinery last year from Advanced Design. The equipment was purchased for $ 4.1 million and was paid for with cash. A representative from Advanced Design recently contacted Jubilee management because Advanced Design has an even more
Suppose the Baseball Hall of Fame in Cooperstown, New York, has approached Hobby Memorabilia & More with a special order. The Hall of Fame wants to purchase 58,000 base-ball card packs for a special promotional campaign and offers $ 0.43 per pack, a total of $ 24,940. Hobby Memorabilia &
Over the past several years, decommissioned U. S. warships have been turned into artificial reefs in the ocean by towing them out to sea and sinking them. The thinking was that sinking the ship would conveniently dispose of it while providing an artificial reef environment for aquatic life. In
Hoover Cole Sunglasses sell for about $ 153 per pair. Suppose the company incurs the following average costs per pair:Direct materials.............................................................................................................. $ 50 Direct
Preston Builders builds 1,500- square- foot starter tract homes in the fast- growing suburbs of Houston. Land and labor are cheap, and competition among developers is fierce. The homes are “cookie- cutter,” with any upgrades added by the buyer after the sale. Preston Builders’ costs per
Top managers of Family Tyme Movies are alarmed by their operating losses. They are considering dropping the DVD product line. Company accountants have prepared the following analysis to help make this decision:Total fixed costs will not change if the company stops selling DVDs.Requirements1.
Suppose Better Harvest is considering discontinuing its organic dried fruit product line. Assume that during the past year, the organic dried fruit's product line income statement showed the following:Fixed manufacturing overhead costs account for 40% of the cost of goods, while only 30% of the
TreadLight produces two types of exercise treadmills: Regular and Deluxe. The exercise craze is such that TreadLight could use all of its available machine hours producing either model. The two models are processed through the same production department.What product mix will maximize operating
Each morning, Nate Jeppson stocks the drink case at Nate’s Beach Hut in Long Beach, California. Nate’s Beach Hut has 110 linear feet of refrigerated display space for cold drinks. Each linear foot can hold either seven 12- ounce cans or five 20- ounce plastic or glass bottles. The beverage
TechSystem manufactures an optical switch that it uses in its final product. TechSystems incurred the following manufacturing costs when it produced 68,000 units last year:TechSystems does not yet know how many switches it will need this year; however, another company has offered to sell
Refer to E8- 25A. TechSystems needs 83,000 optical switches next year (assume same relevant range). By outsourcing them, TechSystems can use its idle facilities to manufacture another product that will contribute $ 210,000 to operating income, but none of the fixed costs will be avoidable. Should
Hoffman Containers manufactures a variety of boxes used for packaging. Sales of its Model A20 box have increased significantly to a total of 480,000 A20 boxes. Hoffman has enough existing production capacity to make all of the boxes it needs. The variable cost of making each A20 box is $ 0.76. By
Keister Natural Dairy processes organic milk into plain yogurt. Keister sells plain yogurt to hospitals, nursing homes, and restaurants in bulk, one- gallon containers. Each batch, processed at a cost of $ 820, yields 450 gallons of plain yogurt. The company sells the one- gallon tubs for $ 5.00
Nicholson Meats is considering whether it should replace a meat grinder patty shaper machine. The new machine will produce 25% more hamburger patties than the old machine in the same amount of time. (This machine is the bottleneck of the hamburger patty process for Nicholson€™s.) The
Suppose the Baseball Hall of Fame in Cooperstown, New York, has approached Global Sports Cards with a special order. The Hall of Fame wishes to purchase 55,000 baseball card packs for a special promotional campaign and offers $ 0.39 per pack, a total of $ 21,450. Global Sports Cards’ total
Over the past several years, decommissioned U. S. warships have been turned into artificial reefs in the ocean by towing them out to sea and sinking them. The thinking was that sinking the ship would conveniently dispose of it while providing an artificial reef environment for aquatic life. In
Bradford Stenback Sunglasses sell for $ 125 per pair. Suppose the company incurs the following average costs per pair:Direct materials.............................................................................................................. $ 38 Direct
Bennett Builders builds 1,500- square- foot starter tract homes in the fast- growing suburbs of Chicago. Land and labor are cheap, and competition among developers is fierce. The homes are “cookie- cutter,” with any upgrades added by the buyer after the sale. Bennett Builders’ costs per
Top managers of California Video are alarmed by their operating losses. They are considering discontinuing the DVD product line. Company accountants have prepared the following analysis to help make this decision:Total fixed costs will not change if the company stops selling DVDs. Requirements1.
Suppose Grain Day Cereals is considering discontinuing its maple cereal product line. Assume that during the past year, the maple cereal product line income statement showed the following:Fixed manufacturing overhead costs account for 40% of the cost of goods, while only 30% of the operating
AllTreads produces two types of exercise treadmills: Regular and Deluxe. The exercise craze is such that AllTreads could use all of its available machine hours producing either model. The two models are processed through the same production department.What product mix will maximize operating income?
Each morning, Mike Prescott stocks the drink case at Mike’s Beach Hut in Virginia Beach, Virginia. Mike’s Beach Hut has 105 linear feet of refrigerated display space for cold drinks. Each linear foot can hold either six 12- ounce cans or five 20- ounce plastic or glass bottles. The beverage
Global Systems manufactures an optical switch that it uses in its final product. Global Systems incurred the following manufacturing costs when it produced 69,000 units last year:Globle system does not yet know how many switches it will need this year; however, another company has offered to sell
Refer to E8- 38B. Global Systems needs 80,000 optical switches next year (assume same relevant range). By outsourcing them, Global Systems can use its idle facilities to manufacture another product that will contribute $ 110,000 to operating income, but none of the fixed costs will be avoidable.
Hampton Containers manufactures a variety of boxes used for packaging. Sales of its Model A20 box have increased significantly to a total of 470,000 A20 boxes. Hampton has enough existing production capacity to make all of the boxes it needs. The variable cost of making each A20 box is $ 0.71. By
OrganicMaid processes organic milk into plain yogurt. OrganicMaid sells plain yogurt to hospitals, nursing homes, and restaurants in bulk, one- gallon containers. Each batch, processed at a cost of $ 870, yields 450 gallons of plain yogurt. OrganicMaid sells the one- gallon tubs for $ 8.00 each,
Marine Supply manufactures flotation vests in Chattanooga, Tennessee. Marine Supply's contribution margin income statement for the most recent month contains the following data:Suppose Overton Cruiselines wants to buy 4,900 vests from Marine Supply. Acceptance of the order will not increase Marine
Nature Place operates a commercial plant nursery where it propagates plants for garden centers throughout the region. Nature Place has $ 5.8 million in assets. Its yearly fixed costs are $ 742,000, and the variable costs for the potting soil, container, label, seed-ling, and labor for each gallon-
Members of the board of directors of Adobe Security One have received the following operating income data for the year just ended:Members of the board are surprised that the industrial systems product line is losing money. They commission a study to determine whether the company should discontinue
Brill Products, located in Forest Lake, Minnesota, produces two lines of electric tooth-brushes: Deluxe and Standard. Because Brill can sell all of the toothbrushes it produces, the owners are expanding the plant. They are deciding which product line to emphasize.To make this decision, they
Cool Boards manufactures snowboards. Its cost of making 30,125 bindings is as follows:Direct materials...................................................................................................... $ 25,000 Direct
Rouse Chemical has spent $ 241,000 to refine 71,000 gallons of acetone, which can be sold for $ 1.90 a gallon. Alternatively, Rouse Chemical can process the acetone further. This processing will yield a total of 65,000 gallons of lacquer thinner that can be sold for $ 3.40 a gallon. The additional
Sailor Products, Inc., manufactures flotation vests in San Diego, California. Sailor Products' contribution margin income statement for the most recent month contains the following data:Suppose Parker Cruiselines wishes to buy 5,500 vests from Sailor Products. Acceptance of the order will not
Plant House operates a commercial plant nursery where it propagates plants for garden centers throughout the region. Plant House has $ 5.0 million in assets. Its yearly fixed costs are $ 600,000, and the variable costs for the potting soil, container, label, seedling, and labor for each gallon-
Members of the board of directors of Locktight Systems have received the following operating income data for the year just ended:Members of the board are surprised that the industrial systems product line is losing money. They commission a study to determine whether the company should discontinue
Brookdale Products, Inc., located in Mahtomedi, Minnesota, produces two lines of electric toothbrushes: Deluxe and Standard. Because Brookdale can sell all the toothbrushes it can produce, the owners are expanding the plant. They are deciding which product line to emphasize. To make this decision,
WildRide Sports manufactures snowboards. Its cost of making 24,900 bindings is as follows:Direct materials........................................................................................................ $ 27,000 Direct
Castillo Chemical has spent $ 240,000 to refine 72,000 gallons of acetone, which can be sold for $ 2.10 a gallon. Alternatively, Castillo Chemical can process the acetone further. This processing will yield a total of 59,000 gallons of lacquer thinner that can be sold for $ 3.10 a gallon. The
1. A beverage company is considering whether to discontinue its line of grape soda. What factors will affect the company’s decision? What is a qualitative factor? Which of the factors you listed are qualitative? 2. What factors would be relevant to a restaurant that is considering whether to
Go to the New York Times website (www.nytimes. com/) or to USA Today (www. usatoday. com/) and search for the term “outsource.” Find an article about a company making a decision to outsource a part of its business operations.Basic Discussion Questions 1. Describe the company that is making the
Der Dutchman is a large family- style restaurant chain located throughout the Midwest in Amish communities. Currently Der Dutchman makes its own biscuits. Customers love these biscuits; they are light, fluffy, and incredibly delicious.People are not eating out at restaurants as much as they did
With nearly 18,000 stores in 60 countries, Starbucks serves a lot of coffee and pastries each day, and it also generates a lot of waste, including day- old pastries and coffee grounds. Starbucks continually wrestles with how to best handle this food waste. A researcher in Hong Kong is developing
Identify the order in which a manufacturer would prepare the following budgets. Also note whether each budget is an operating budget or a financial budget.a. Budgeted balance sheetb. Cash payments budgetc. Direct materials budgetd. Production budgete. Budgeted income statementf. Combined cash
Listed next are several terms. Complete each of the following statements with one of these terms. You may use a term more than once, and some terms may not be used at all.a. ________ is a budget that is continuously updated by adding months to the end of the budgeting period. b. ________ is the
Duke Sports Medicine, Inc., offers two types of physical exams for students: the basic physical and the extended physical. The charge for the basic physical is $ 105, while the charge for the extended physical is $ 160. Duke expects to perform 240 basic physicals and 170 extended physicals in July,
Trader Cycles manufactures chainless bicycles. On March 31, Trader Cycles had 220 bikes in inventory. The company has a policy that the ending inventory in any month must be 30% of the following month’s expected sales. Trader Cycles expects to sell the following number of bikes in each of the
The Bakery by the Bay produces organic bread that is sold by the loaf. Each loaf requires 1/ 2 of a pound of flour. The bakery pays $ 2.00 per pound of the organic flour used in its loaves. The bakery expects to produce the following number of loaves in each of the upcoming four
The Production Department of Cameron Manufacturing has prepared the following schedule of units to be produced over the first quarter of the upcoming year:Each unit requires 6.0 hours of direct labor. Direct labor workers are paid an average of $ 16 per hour. How much direct labor will be budgeted
Probe Corporation is preparing its manufacturing overhead budget. The direct labor budget for the upcoming quarter is as follows:The company's variable manufacturing overhead rate is $ 1.60 per direct labor hour and the company's fixed manufacturing overhead is $ 3,000 per month. How much
Davenport Corporation is preparing its operating expenses budget. The budgeted unit sales for the upcoming quarter are as follows:The company's variable operating expenses are $ 6.00 per unit. Fixed monthly operating expenses include $ 5,100 for salaries, $ 3,300 for office rent, and $ 2,200 for
Bell Simpson manufactures a specialty precision scale. For January, the company expects to sell 800 scales at an average price of $ 2,350 per unit. The average manufacturing cost of each unit sold is $ 1,400. Variable operating expenses for the company will be $ 1.10 per unit sold and fixed
Emerald Service anticipates the following sales revenue over a five- month period:The company's sales are 20% cash and 80% credit. Its collection history indicates that credit sales are collected as follows:30% in the month of the sale 60% in the month after the sale 6% two months after the sale 4%
Stately Corporation is preparing its cash payments budget for next month. The following information pertains to the cash payments: a. Stately Corporation pays for 55% of its direct materials purchases in the month of purchase and the remainder the following month. Last month’s direct material
George Services, Inc., has $ 8,200 cash on hand on October 1. The company requires a minimum cash balance of $ 7,600. October cash collections are $ 548,410. Total cash payments for October are $ 573,870. Prepare a cash budget for October. How much cash, if any, will George need to borrow by the
The local grocery store expects that customers will use credit cards to pay for a total of 80,000 sales transactions during the month of April. These transactions are expected to amount to $ 2,000,000 in total sales revenue. The credit card issuers charge the store a transaction fee equal to $ 0.45
TechWorks Company sells its smartphone worldwide. The company expects to sell 4,200 smartphones for $ 170 each in January and 3,800 smartphones for $ 200 each in February. All sales are cash only. TechWorks expects cost of goods sold to average 70% of sales revenue. The company also expects to sell
For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, objectivity, or credibility). 1. When out with friends, Louise complains loudly about the budgeting process at her company. She
Dixson Beverages manufactures its own soda pop bottles. The bottles are made from polyethylene terephthalate (PET), a lightweight yet strong plastic. Dixson uses as much PET recycled resin pellets in its bottles as it can, both because using recycled PET helps Dixson to meet its sustainability
Miami College Bookstore is the bookstore on campus for students and faculty. The book-store shows the following sales projections in units by quarter for the upcoming year:The average price of an item in each of the departments is as follows:Average sales price per
Hinckley Preschool operates a not- for- profit morning preschool. Each family pays a non-refundable registration fee of $ 135 per child per school year. Monthly tuition for the eight- month school year varies depending on the number of days per week that the child attends preschool. The monthly
Jabber Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows:Jabber anticipates selling 220,000 jars with total sales revenue of $ 267,000 in the first quarter of the year following the year given in the preceding
Beckett Industries manufactures a popular interactive stuffed animal for children that requires two computer chips inside each toy. The company pays $ 3 for each computer chip. To help to guard against stockouts of the computer chip, Beckett Industries has a policy that states that the ending
Austen Manufacturing produces self- watering planters for use in upscale retail establishments. Sales projections for the first five months of the upcoming year show the estimated unit sales of the planters each month to be as follows:Number of planters to be
Anderson Industries manufactures three models of a product in a single plant with two departments: Cutting and Assembly. The company has estimated costs for each of the three product models, which are the Flash, the Royal, and the Zip models. The company is currently analyzing direct labor hour
The McKnight Company is in the process of preparing its manufacturing overhead budget for the upcoming year. Sales are projected to be 42,000 units. Information about the various manufacturing overhead costs follows:Requirement Prepare the manufacturing overhead budget for the McKnight Company for
Start Smart Preschool operates a not- for- profit morning preschool that operates nine months of the year. The preschool has 160 kids enrolled in its various programs. The preschool’s primary expense is payroll. Teachers are paid a flat salary each of the nine months as follows:Teachers of two-
Germaine Labs performs a specialty lab test for local companies for $ 55 per test. For the upcoming quarter, Germaine Labs is projecting the following sales:The budgeted cost of performing each test is $ 31. Operating expenses are projected to be $ 61,000 in January, $ 58,000 in February, and $
Berkner Motors is a chain of car dealerships. Sales in the fourth quarter of last year were $ 3,700,000. Suppose management projects that its current year’s quarterly sales will increase by 2% in quarter 1, by another 4% in quarter 2, by another 3% in quarter 3, and by another 5% in quarter 4.
Bentfield Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, Bentfield Corporation has experienced the following collection pattern:25% received in the month of the sale 50% received in the month after the sale
The Smith Company is preparing its cash payments budget. The following items relate to cash payments the company anticipates making during the second quarter of the upcoming year. a. The company pays for 50% of its direct materials purchases in the month of purchase and the remainder the following
Monette Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are expected to occur: a. Cash collections from services in July, August, and September are projected to be $ 96,000, $ 159,000, and $
Leret Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $ 908,000 in October, $ 950,000 in November, $ 1,065,000 in December, and $ 938,000 in January. Leret’s sales are 30% cash and 70% credit. The company’s collection history indicates that credit sales
Use the following information to prepare a budgeted balance sheet for Games Corporation at March 31. Show computations for the cash and stockholders’ equity amounts. a. March 31 inventory balance, $ 16,185 b. March payments for inventory, $ 4,200 c. March payments of accounts payable and
Flash Medical Supply began October with $ 10,200 cash. Management forecasts that collections from credit customers will be $ 11,800 in October and $ 15,800 in November. The business is scheduled to receive $ 6,000 cash on a business note receivable in October. Projected cash payments include
You recently began a job as an accounting intern at Backyard Adventures. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with the budget file crashed, and you did not have a backup or even a hard copy. You ran a program to salvage bits of data
Scannell Readers sells eReaders. Its sales budget for the nine months ended September 30 follows:In the past, cost of goods sold has been 60% of total sales. The director of marketing and the financial vice president agree that each quarter€™s ending inventory should not be below $ 10,000
Dalley Beverages manufactures its own soda pop bottles. The bottles are made from polyethylene terephthalate (PET), a lightweight yet strong plastic. The company uses as much PET recycled resin pellets in its bottles as it can, both because using recycled PET helps Dalley to meet its
Albany College Bookstore is the bookstore on campus for students and faculty. The book-store shows the following sales projections in units by quarter for the upcoming year:The average price of an item in each of the departments is as follows: Average sales price per unit
Geary Preschool operates a not- for- profit morning preschool. Each family pays a non-refundable registration fee of $ 120 per child per school year. Monthly tuition for the nine- month school year varies depending on the number of days per week that the child attends preschool. The monthly tuition
Ringer Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows:Ringer anticipates selling 224,000 jars with total sales revenue of $ 260,000 in the first quarter of the year following the year given in the preceding
Gable Industries manufactures a popular interactive stuffed animal for children that re-quires two computer chips inside each toy. The company pays $ 1 for each computer chip. To help to guard against stockouts of the computer chip, Gable Industries has a policy that states that the ending
Hoffman Manufacturing produces self- watering planters for use in upscale retail estab-lishments. Sales projections for the first five months of the upcoming year show the esti-mated unit sales of the planters each month to be as follows: Number of planters to be sold
Cleary Industries manufactures three models of a product in a single plant with two departments: Cutting and Assembly. The company has estimated costs for each of the three product models, which are the Zip, the Rocket, and the Royal models. The company is currently analyzing direct labor hour
The Henry Company is in the process of preparing its manufacturing overhead budget for the upcoming year. Sales are projected to be 45,000 units. Information about the various manufacturing overhead costs follows:RequirementPrepare the manufacturing overhead budget for the Henry Company for the
Greatland Preschool operates a not- for- profit morning preschool that operates nine months of the year. The preschool has 160 kids enrolled in its various programs. The pre-school’s primary expense is payroll. Teachers are paid a flat salary each of the nine months as follows:Salary data
Rossdale Labs performs a specialty lab test for local companies for $ 46 per test. For the upcoming quarter, Rossdale Labs is projecting the following sales:The budgeted cost of performing each test is $ 18. Operating expenses are projected to be $ 62,000 in January, $ 56,000 in February, and $
Samson Motors is a chain of car dealerships. Sales in the fourth quarter of last year were $ 4,200,000. Suppose its management projects that its current year’s quarterly sales will increase by 7% in quarter 1, by another 2% in quarter 2, by another 3% in quarter 3, and by another 6% in quarter 4.
General Corporation has found that 60% of its sales in any given month are credit sales, while the remainder are cash sales. Of the credit sales, the company has experienced the following collection pattern:25% received in the month of the sale 50% received in the month after the sale 15% received
Bauer Corporation is preparing its cash payments budget. The following items relate to cash payments the company anticipates making during the second quarter of the upcoming year.a. Bauer Corporation pays for 50% of its direct materials purchases in the month of purchase and the remainder the
Mission Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are expected to occur:a. Cash collections from services in July, August, and September are projected to be $ 96,000, $ 150,000, and $
Serdnic Reeds, a manufacturer of saxophone, oboe, and clarinet reeds, has projected sales to be $ 896,000 in October, $ 966,000 in November, $ 1,065,000 in December, and $ 934,000 in January. Serdnic’s sales are 20% cash and 80% on credit. The company’s collection history indicates that credit
Use the following information to prepare a budgeted balance sheet for Marine Corporation at March 31. Show computations for the cash and owners’ equity amounts. a. March 31 inventory balance, $ 15,085 b. March payments for inventory, $ 4,600 c. March payments of accounts payable and accrued

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