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business
managerial accounting 12th

Managerial Accounting The Cornerstone Of Business Decision Making 9th Edition Maryanne Mowen, Don Hansen, Dan Heitger - Solutions

7-7 If the margin of safety is 0, thena. the company is precisely breaking even.b. the company is operating at a loss.c. the company is earning a small profit.d. the margin of safety cannot be less than or equal to 0; it must be positive.e. None of these.
7-6 The use of fixed costs to extract higher percentage changes in profits as sales activity changes involvesa. margin of safety.b. unit contribution margin.c. degree of operating leverage.d. sensitivity analysis.e. variable cost reduction.
7-5 An important assumption of cost-volume-profit analysis is thata. both costs and revenues are linear functions.b. all cost and revenue relationships are analyzed within the relevant range.c. there is no change in inventories.d. the sales mix remains constant.e. All of these.
7-4 In the cost-volume-profit graph,a. the break-even point is found where the total revenue curve crosses the x-axis.b. the area of profit is to the left of the break-even point.c. the area of loss cannot be determined.d. both the total revenue curve and the total cost curve appear.e. neither the
7-3 Break-even revenue for a multiple-product firm cana. be calculated by dividing total fixed cost by the overall contribution margin ratio.b. be calculated by dividing segment fixed cost by the overall contribution margin ratio.c. be calculated by dividing total fixed cost by the overall variable
The amount of revenue required to earn a targeted profit is equal toa. total fixed cost divided by contribution margin.b. total fixed cost divided by the contribution margin ratio.c. targeted profit divided by the contribution margin ratio.d. total fixed cost plus targeted profit divided by
If the variable cost per unit goes down, Contribution margin Break-even pointa. increases increasesb. increases decreasesc. decreases decreasesd. decreases increasese. decreases remains unchanged
Recall that Whittier had expected to sell 1,000 mowers and earn operating income equal to$30,000 next year. Whittier’s degree of operating leverage is equal to 2.5. The company plans to increase sales by 20% next year.Required:1. Calculate the percent change in operating income expected by
A company’s margin of safety is $30,000. For the coming year, sales are expected to decrease by $14,000. What is the impact on the margin of safety?
Two companies have identical sales revenue of $15 million. Is it true that both have the same operating income and the same margin of safety? Is it possible that one company has a higher margin of safety?
Alpha Company produces and sells two products: Alpha-Basic and Alpha-Deluxe. In the coming year, Alpha expects to sell 3,000 units of Alpha-Basic and 1,500 units of Alpha-Deluxe.Information on the two products is as follows:Required:1. What is the sales mix of Alpha-Basic to Alpha-Deluxe?2. Compute
Cutlass Company’s projected profit for the coming year is as follows:Required:1. Compute the variable cost ratio. Compute the contribution margin ratio.2. Compute the break-even point in units.3. Compute the break-even point in sales dollars.4. How many units must be sold to earn a profit of
How to calculate the impact of increased sales on operating income using the degree of operating leverage?
How to calculate the degree of operating leverage?
How to calculate the margin of safety?
How to calculate the break-even sales dollars for a multiple-product firm?
How to calculate the break-even units for a multiple-product firm?
How to calculate sales needed to earn a target operating income?
How to calculate the number of units to be sold to earn a target operating income?
How to calculate the break-even point in sales dollars?
How to calculate the variable cost ratio and the contribution margin ratio
How to calculate the break-even point in units?
How to prepare a contribution margin income statement?
Case 6-73 Production Report, Ethical Behavior Consider the following conversation between Gary Means, manager of a division that produces industrial machinery, and his controller, Donna Simpson, a certified management accountant and certified public accountant:Gary: Donna, we have a real problem.
Case 6-72 (Appendix 6A) Equivalent Units; Valuation of Work-in-Process Inventories;First-In, First-Out versus Weighted Average AKL Foundry manufactures metal components for different kinds of equipment used by the aerospace, commercial aircraft, medical equipment, and electronic industries. The
Case 6-71 Process Costing versus Alternative Costing Methods, Impact on Resource Allocation Decision Golding Manufacturing, a division of Farnsworth Sporting Inc., produces two different models of bows and eight models of knives. The bow manufacturing process involves the production of two major
Problem 6-70 (Appendix 6A) First-In, First-Out Method Refer to Problem 6-69.Required:Prepare a production report for the Mixing and Encapsulating departments using the FIFO method. (Note: Round the unit cost to four decimal places.) (Hint: For the second department, you must convert gallons to
Problem 6-69 Weighted Average Method, Nonuniform Inputs, Multiple Departments Benson Pharmaceuticals uses a process-costing system to compute the unit costs of the overthe-counter cold remedies that it produces. It has three departments: Mixing, Encapsulating, and Bottling. In Mixing, the
Problem 6-68 (Appendix 6A) First-In, First-Out Method; Journal Entries Refer to Problem 6-67.Required:1. Using the FIFO method, prepare the following for Department A: (a) a physical flow schedule, (b) an equivalent unit calculation, (c) calculation of unit costs (Note: Round to three decimal
Problem 6-67 Weighted Average Method, Journal Entries Seacrest Company uses a process-costing system. The company manufactures a product that is processed in two departments: A and B. As work is completed, it is transferred out. All inputs are added uniformly in Department A. The following
Problem 6-66 Weighted Average Method, Separate Materials Cost Janbo Company produces a variety of stationery products. One product, sealing wax sticks, passes through two processes: blending and molding. The weighted average method is used to account for the costs of production. After blending, the
Problem 6-65 (Appendix 6A) First-In, First-Out Method; Single-Department Analysis;One Cost Category Refer to the information for Millie Company.Millie Company produces a product that passes through an assembly process and a finishing process. All manufacturing costs are added uniformly for both
Problem 6-64 Weighted Average Method, Single-Department Analysis Refer to the information for Millie Company.Millie Company produces a product that passes through an assembly process and a finishing process. All manufacturing costs are added uniformly for both processes. The following information
Problem 6-63 Weighted Average Method, Physical Flow, Equivalent Units, Unit Costs, Cost Assignment Mimasca Inc. manufactures various holiday masks. Each mask is shaped from a piece of rubber in the molding department. The masks are then transferred to the Finishing department, where they are
Problem 6-62 Production Report Refer to the information for Tapyt Inc. given. The owner of Tapyt insisted on a formal report that provided all the details of the weighted average method. In the manufacturing process, all materials are added uniformly throughout the process.Tapyt Inc. manufactures
Problem 6-61 Equivalent Units, Unit Cost, Weighted Average Refer to the information for Tapyt Inc. given.Tapyt Inc. manufactures throw rugs. The Throw rug department weaves cloth and yarn into throw rugs of various sizes. Tapyt uses the weighted average method. Materials are added uniformly
Problem 6-60 Steps for a Production Report Refer to the data of Problem 6-59.Required:1. Prepare a production report for the Assembly department for the month of April.2. Conceptual Connection Write a one-page report that compares the purpose and content of the production report with the job-order
Problem 6-59 Steps in Preparing a Production Report Recently, Stillwater Designs expanded its market by becoming an original equipment supplier to Jeep Wrangler. Stillwater Designs produces factory upgraded speakers specifically for Jeep Wrangler. The Kicker components and speaker cabinets are
Problem 6-58 Basic Flows, Equivalent Units Thayn Company produces an arthritis medication that passes through two departments:Mixing and Tableting. Thayn uses the weighted average method. Data for February for Mixing are as follows: BWIP was zero; EWIP had 36,000 units, 50% complete; and 420,000
Exercise 6-57 (Appendix 6A) First-In, First-Out Method; Unit Cost; Valuing Inventories Loren Inc. manufactures products that pass through two or more processes. During April, equivalent units were computed using the FIFO method:Units started and completed 4,600 Units in BWIP × Fraction to complete
Exercise 6-56 (Appendix 6A) First-In, First-Out Method; Equivalent Units Lawson Company produces a product where all manufacturing inputs are applied uniformly.Lawson produced the following physical flow schedule for March:Units to account for:Units in BWIP (40% complete) 15,000 Units started
Exercise 6-55 Transferred-In Cost Golding’s Finishing department had the following data for July:Required:1. Calculate unit costs for the following categories: transferred-in, materials, and conversion.2. Calculate total unit cost. Units transferred out Units in EWIP Transferred-In Materials
Exercise 6-54 Nonuniform Inputs, Transferred-In Cost Leche Dairy produces a variety of dairy products. In Department 12, cream (transferred in from Department 6) and other materials (sugar and flavorings) are mixed at the beginning of the process and churned to make ice cream. The following data
Exercise 6-53 Unit Cost and Cost Assignment, Nonuniform Inputs Loran Inc. had the following equivalent units schedule and cost for its Fabrication department during September:Required:1. Calculate the unit cost for materials, for conversion, and in total for the Fabrication department for
Exercise 6-52 Nonuniform Inputs, Equivalent Units Terry Linens Inc. manufactures bed and bath linens. The Bath Linens department sews terry cloth into towels of various sizes. Terry uses the weighted average method. All materials are added at the beginning of the process. The following data are for
Exercise 6-51 Production Report, Weighted Average Cochabamba Inc. manufactures chocolate syrup in three departments: Cooking, Mixing, and Bottling. Cochabamba uses the weighted average method. The following are cost and production data for the cooking department for April (Note: Assume that units
Exercise 6-50 Physical Flow Schedule Nelrok Company manufactures fertilizer. Department 1 mixes the chemicals required for the fertilizer. The following data are for the year:BWIP (40% complete) 25,000 Units started 142,500 Units in EWIP (60% complete) 35,000 Required:Prepare a physical flow
Exercise 6-49 Physical Flow Schedule The following information was obtained for the grinding department of Harlan Company for May:a. BWIP had 91,500 units, 30% complete with respect to manufacturing costs.b. EWIP had 25,200 units, 25% complete with respect to manufacturing costs.c. Started 99,000
Exercise 6-48 Weighted Average Method, Unit Costs, Valuing Inventories Byford Inc. produces a product that passes through two processes. During November, equivalent units were calculated using the weighted average and FIFO method:Units completed 196,000 Add: Units in EWIP × Fraction complete
Exercise 6-47 Weighted Average Method, Unit Cost, Valuing Inventories Cassien Inc. manufactures products that pass through two or more processes. During June, equivalent units were computed using the weighted average method:Units completed 53,400 Units in EWIP × Fraction complete (36,000 × 60%)
Exercise 6-46 Weighted Average Method, Equivalent Units Bukavu Company produces a product where all manufacturing inputs are applied uniformly.Bukavu produced the following physical flow schedule for April:Units to account for:Units in BWIP (40% complete) 270,000 Units started 630,000 Total units
Exercise 6-45 Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending department had the following data for the month of March:Units in BWIP —Units completed 21,600 Units in EWIP (60% complete) 2,250 Total manufacturing costs $82,620 Required:1.
Exercise 6-44 Journal Entries, Basic Cost Flows In December, Davis Company had the following cost flows:Required:1. Prepare the journal entries to transfer costs from (a) Molding to Grinding, (b) Grinding to Finishing, and (c) Finishing to Finished Goods.2. Conceptual Connection Explain how the
Exercise 6-43 Basic Cost Flows Linsenmeyer Company produces a common machine component for industrial equipment in three departments: Molding, Grinding, and Finishing. The following data are available for September:During September, 18,000 components were completed. There is no beginning or ending
Brief Exercise 6-42 (Appendix 6A) FIFO; Production Report Refer to the information for Saludable Inc. given.Saludable Inc. produces a freeze-dried kale powder. Drying is the first department, and its output is measured in pounds. Saludable uses the FIFO method. All manufacturing costs are added
Brief Exercise 6-41 (Appendix 6A) First-In, First-Out Method; Equivalent Units Refer to the information for Saludable Inc..Saludable Inc. produces a freeze-dried kale powder. Drying is the first department, and its output is measured in pounds. Saludable uses the FIFO method. All manufacturing
Brief Exercise 6-40 Transferred-In Cost Vigor Inc. produces an energy drink. The product is sold by the quart. The company has two departments: Mixing and Bottling. For May, the Bottling department had 30,000 quarts in beginning inventory (with transferred-in costs of $63,000) and completed 140,000
Brief Exercise 6-39 Nonuniform Inputs, Weighted Average Ming Inc. had the following production and cost information for its Blending department during February (with materials added at the beginning of the process):Production:Units in process, February 1, 50% complete with respect to conversion
Brief Exercise 6-38 Production Report, Weighted Average Aoyagi Inc. manufactures precision tools in two departments: Molding and Finishing. Aoyagi uses the weighted average method. Manufacturing costs are added uniformly throughout the process. The following are cost and production data for the
Brief Exercise 6-37 Physical Flow Schedule Verner Inc. just finished its third month of operations. Verner mass-produces carburetors used in motorcycle engines. The following production information is provided for December:Units in process, December 1, 60% complete 96,000 Units completed and
Brief Exercise 6-36 Weighted Average Method, Unit Cost, Valuing Inventories Cardenas Enterprises produces strawberry gelato. Output is measured in quarts. Cardenas uses the weighted average method. During July, Cardenas had the following production data:Units in process, July 1, 60% complete
Brief Exercise 6-35 Unit Cost, Valuing Goods Transferred Out and EWIP During August, the Drilling department of Alajuela Inc. completed and transferred out 285,000 units. At the end of August, there were 64,050 units in process, 70% complete.Alajuela incurred manufacturing costs totaling
Brief Exercise 6-34 Equivalent Units, No Beginning Work in Process Perez Pharmaceutical produces antibiotics. During April, Perez’s tableting department had the following data:Units in BWIP —Units completed 147,000 Units in EWIP (30% complete) 22,050 Required:Calculate April’s output for the
Brief Exercise 6-33 Basic Cost Flows Hardy Company produces 18-ounce boxes of a rolled oat cereal in three departments: mixing, cooking, and packaging. During September, Hardy produced 200,000 boxes with the following costs:Required:1. Calculate the costs transferred out of each department.2.
Brief Exercise 6-32 (Appendix 6A) FIFO; Production Report Refer to the information for Aztec Inc. given.Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added uniformly. For July, the
Brief Exercise 6-31 (Appendix 6A) First-In, First-Out Method; Equivalent Units Refer to the information for Aztec Inc. given.Aztec Inc. produces soft drinks. Mixing is the first department, and its output is measured in gallons. Aztec uses the FIFO method. All manufacturing costs are added
Brief Exercise 6-30 Transferred-In Cost Powers Inc. produces a protein drink. The product is sold by the gallon. The company has two departments: mixing and bottling. For August, the bottling department had 70,000 gallons in beginning inventory (with transferred-in costs of $283,000) and completed
Brief Exercise 6-29 Nonuniform Inputs, Weighted Average Carter Inc. had the following production and cost information for its fabrication department during April (with materials added at the beginning of the fabrication process):Production:Units in process, April 1, 50% complete with respect to
Brief Exercise 6-28 Production Report, Weighted Average Manzer Inc. manufactures bicycle frames in two departments: Cutting and Welding. Manzer uses the weighted average method. Manufacturing costs are added uniformly throughout the process. The following are cost and production data for the
Brief Exercise 6-27 Physical Flow Schedule Golding Inc. just finished its second month of operations. Golding mass-produces integrated circuits. The following production information is provided for December:Units in process, December 1, 80% complete 160,000 Units completed and transferred out
Brief Exercise 6-26 Weighted Average Method, Unit Cost, Valuing Inventories Applegate Enterprises produces premier raspberry jam. Output is measured in pints. Applegate uses the weighted average method. During January, Applegate had the following production data:Units in process, January 1, 60%
Brief Exercise 6-25 Unit Cost, Valuing Goods Transferred Out and EWIP During April, the grinding department of Tranx Inc. completed and transferred out 315,000 units. At the end of April, there were 112,500 units in process, 60% complete. Tranx incurred manufacturing costs totaling
Brief Exercise 6-24 Equivalent Units, No Beginning Work in Process Frankle Manufacturing produces cylinders used in internal combustion engines. During June, Frankle’s Welding department had the following data:Units in BWIP —Units completed 112,000 Units in EWIP (40% complete) 16,800
Brief Exercise 6-23 Basic Cost Flows Gardner Company produces 18-ounce boxes of a wheat cereal in three departments: mixing, cooking, and packaging. During August, Gardner produced 250,000 boxes with the following costs:Required:1. Calculate the costs transferred out of each department.2. Prepare
6-22 Transferred-in goods are treated by the receiving department asa. units started for the period.b. a material added at the beginning of the process.c. a category of materials separate from conversion costs.d. All of these.e. None of these.
6-21 With nonuniform inputs, the cost of EWIP is calculated bya. adding the materials cost to the conversion cost.b. subtracting the cost of goods transferred out from the total cost of materials.c. multiplying the unit cost in each input category by the equivalent units of each input found in
6-20 When materials are added either at the beginning or the end of the process, a unit cost should be calculated for thea. materials and conversion categories.b. materials category only.c. materials and labor categories.d. conversion category only.e. labor category only.
6-19 For August, Lanny Company had 25,000 units in BWIP, 40% complete, with costs equal to $36,000. During August, the cost incurred was $450,000. Using the FIFO method, Lanny had 125,000 equivalent units for August. There were 100,000 units transferred out during the month. The cost of goods
6-18 Assume for August that Faust Manufacturing has manufacturing costs in BWIP equal to$80,000. During August, the cost incurred was $720,000. Using the FIFO method, Faust had 120,000 equivalent units for August. The cost per equivalent unit for August isa. $6.12.b. $6.50.c. $5.60.d. $6.00.e.
6-17 During July, Faust Manufacturing started and completed 80,000 units. In BWIP, there were 25,000 units, 20% complete. In EWIP, there were 25,000 units, 80% complete.Using FIFO, the equivalent units area. 80,000 units.b. 120,000 units.c. 65,000 units.d. 85,000 units.e. 100,000 units.
6-16 During June, Faust Manufacturing started and completed 80,000 units. In BWIP, there were 25,000 units, 80% complete. In EWIP, there were 25,000 units, 60% complete.Using FIFO, the equivalent units area. 80,000 units.b. 95,000 units.c. 85,000 units.d. 115,000 units.e. 100,000 units.
6-15 For September, Murphy Company has manufacturing costs in BWIP equal to$100,000. During September, the manufacturing costs incurred were $550,000. Using the weighted average method, Murphy had 100,000 equivalent units for September.The equivalent unit cost for September isa. $1.00.b. $7.50.c.
6-14 For August, Kimbrell Manufacturing has costs in BWIP equal to $112,500. During August, the cost incurred was $450,000. Using the weighted average method, Kimbrell had 125,000 equivalent units for August. There were 100,000 units transferred out during the month. The cost of goods transferred
6-13 During June, Kimbrell Manufacturing completed and transferred out 100,000 units.In EWIP, there were 25,000 units, 80% complete. Using the weighted average method, the equivalent units area. 100,000 units.b. 125,000 units.c. 105,000 units.d. 110,000 units.e. 120,000 units.
6-12 During May, Kimbrell Manufacturing completed and transferred out 100,000 units.In EWIP, there were 25,000 units, 40% complete. Using the weighted average method, the equivalent units area. 100,000 units.b. 125,000 units.c. 105,000 units.d. 110,000 units.e. 120,000 units.
6-11 The calculations of 6-8 through 6-10 can be described by which of the following data analytic types?The mixing department incurred $46,000 of manufacturing costs during the month of September. The department transferred out 2,300 units and had 500 units in EWIP, 40%complete. There was no
6-10 The cost of EWIP is The mixing department incurred $46,000 of manufacturing costs during the month of September. The department transferred out 2,300 units and had 500 units in EWIP, 40%complete. There was no BWIP.a. $9,200.b. $10,000.c. $3,680.d. $3,286.e. None of these.
6-9 The cost of goods transferred out is The mixing department incurred $46,000 of manufacturing costs during the month of September. The department transferred out 2,300 units and had 500 units in EWIP, 40%complete. There was no BWIP.a. $42,320.b. $46,000.c. $37,789.d. $460,000.e. None of these.
6-8 The unit cost for the month of September is The mixing department incurred $46,000 of manufacturing costs during the month of September. The department transferred out 2,300 units and had 500 units in EWIP, 40%complete. There was no BWIP.a. $20.b. $18.40.c. $16.43.d. $200.e. $184.
6-7 During the month of May, the Grinding department produced and transferred out 2,300 units. EWIP had 500 units, 40% complete. There was no BWIP. The equivalent units of output for May area. 2,000.b. 2,500.c. 2,300.d. 2,800.e. None of these.
6-6 The costs transferred from a prior process to a subsequent process area. treated as another type of materials cost for the receiving department.b. referred to as transferred-in costs (for the receiving department).c. referred to as the cost of goods transferred out (for the transferring
6-5 To record the transfer of costs from a prior process to a subsequent process, the following entry would be made:a. debit Finished Goods and credit Work in Process.b. debit Work in Process (subsequent department) and credit Transferred-In Materials.c. debit Work in Process (prior department) and
6-4 Sequential processing is characterized bya. a pattern where partially completed units are worked on simultaneously.b. a pattern where partially completed units must pass through one process before they can be worked on in later processes.c. a pattern where different partially completed units
6-3 Job-order costing works well whenevera. homogeneous products pass through a series of processes and receive similar doses of conversion inputs and different doses of material inputs.b. homogeneous products pass through a series of processes and receive similar doses of materials, labor, and
6-2 Process costing works well whenevera. heterogeneous products pass through a series of processes and receive different doses of materials, labor, and overhead.b. material cost is accumulated by process and conversion cost is accumulated by process.c. homogeneous products pass through a series of
6-1 Which of the following items is NOT a strategic pillar for BP’s transition from an international oil company to an integrated energy company?a. convenience and mobilityb. low-carbon energyc. resilient hydrocarbonsd. all of these items are strategic pillarse. none of these items is a strategic
Activity-Based Product Costing and Ethical Behavior Consider the following conversation between Leonard Bryner, president and manager of a firm engaged in job manufacturing, and Chuck Davis, certified management accountant, the firm’s controller.Leonard: Chuck, as you know, our firm has been
Activity-Based Costing, Distorted Product Costs Sharp Paper Inc. has three paper mills, one of which is located in Memphis, Tennessee. The Memphis mill produces 300 different types of coated and uncoated specialty printing papers.Management was convinced that the value of the large variety of
(Appendix 5B) Box Scorecard Merkley Company, a manufacturer of machine parts, implemented lean manufacturing at the end of 20X1. Three value streams were established: one for new product development and two order fulfillment value streams. One of the value streams set a goal to increase its ROS to
(Appendix 5B) Value-Stream Product Costing, ABC, and DBC Brasher Company is transitioning to a lean manufacturing system and has just finalized two order fulfillment value streams. One of the value streams has two products, and the other has four products. The two-product value stream produces

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