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business
managerial accounting

Questions and Answers of Managerial Accounting

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.
In 70 words or fewer, explain the difference between NPV and IRR.
In 50 words or fewer, explain the difference between relevant costs, irrelevant costs, and sunk costs.
In 25 words or fewer, explain what it means for a company to break even.
In 100 words or fewer, explain why we use a predetermined overhead rate instead of waiting to use the “real” rate. In your answer, explain how the rate works with the Manufacturing overhead
In 100 words or fewer, explain the difference between inventoriable product costs and period costs. In your explanation, explain the inventory accounts of a manufacturer.
In 75 words or fewer, explain the difference between horizontal and vertical analysis. Be sure to include in your answer how each might be used.
Select a company and obtain its financial statements. Convert the income statement and the balance sheet to common size, and compare the company you selected to the industry average. The Risk
In 60 words or fewer, explain the difference between operating, investing, and financing activities.
In 100 words or fewer, explain the difference between stock dividends and stock splits. Include the effect on stock values.
Obtain the annual reports (or annual report data) of five well-known companies. You can get the reports either from the companies’ Web sites, your college library, or by mailing a request directly
In 50 words or fewer, explain the difference between par and no-par stocks.
In 50 words or fewer, explain why a bond would sell for more than the bond’s maturity value on the bond issuance date.
In 30 words or fewer, explain how to report the total owed on a long-term note.
In 25 words or fewer, explain the depreciable cost used for each of the three methods. Your explanation should identify which methods calculate depreciable base the same way.
Visit a local business.Requirements 1. List all its plant assets. 2. If possible, interview the manager. Gain as much information as you can about the business’s plant assets. For
In 50 words or fewer, explain the difference between the percentage-of-sales method and the aging method for calculating the journal entry to adjust the allowance for uncollectible accounts.
In 75 words or fewer, explain why there may be a difference between the bank statement ending cash balance and the ending balance in the Cash account. Give at least two examples each of adjustments
Research the Sarbanes-Oxley Act on the Internet.Requirement1. Surf around for information on internal control, write a report of your findings, and present it to your class.
In 50 words or fewer, explain the difference in calculating COGS using the FIFO, LIFO, and average-cost methods.
In 30 words or fewer, explain the difference between a sales discount and a purchase discount.
In 25 words or fewer, explain the rationale for closing the temporary accounts.
In 25 words or fewer, explain adjusting journal entries.
In 25 words or fewer, illustrate the accounting equation and explain each part of the accounting equation.
Using Google or another online tool, search for “SASB materiality map.” Once on the site, click on the “Materiality Map” button. Next, click on the Consumer Goods heading to expand the
Perform an online search to find other sources of information about this company’s sustainability efforts other than its own publications. What news articles can you find? Summarize the
Perform an online search for sustainability issues in the industry in which this organization operates. Does the company appear to be addressing the sustainability issues of the industry?
What is your overall sense of the company’s commitment to sustainability from everything you have seen? Be specific and give details to justify your response.
The Greenlee Toy Manufacturing Company has an environmental goal to eliminate the use of non-recyclable packaging materials within the next five years. The company adopted this goal two years ago, so
The manufacture of appliances can produce hazardous waste. New manufacturing facilities and processes can eliminate or greatly decrease the amount of hazardous waste generated. In addition, products
In its Corporate Social Responsibility (CSR) report, Green Software Corporation details the results from the steps it has taken to embed a sustainable culture throughout its business operations. In
The Skylark Toy Manufacturing Company has an environmental goal to eliminate the use of non-recyclable packaging materials within the next five years. The company adopted this goal two years ago, so
The manufacture of appliances can produce hazardous waste. New manufacturing facilities and processes can eliminate or greatly decrease the amount of hazardous waste generated. In addition, products
Olly’s Yogurt Shoppe sells a variety of single-serve frozen yogurt flavors and toppings. The owner of Olly’s is trying to forecast its frozen yogurt sales for the upcoming year. The owner
South Fast, an independently owned restaurant chain, specializes in Southern cuisine fast food. Following is a partial performance report that a SouthFast manager built in Excel.Using the partial
Funberry Amusements is an owner/operator of several amusement parks. Following is a performance report that a Funberry manager built in Excel.Using the performance report shown, answer the following
Persian Fast, an independently owned restaurant chain, specializes in Persian cuisine fast food. Following is a partial performance report that a Persian Fast manager has been working on using
Cajun Fast, an independently owned restaurant chain, specializes in Cajun cuisine fast food. Following is a partial performance report that a Cajun Fast manager has been working on using
Candyberry Amusements is an owner/operator of several amusement parks. Following is a partial performance report that a Candyberry manager built in Excel.Requirements1. Using the Excel file provided
Some companies integrate sustainability measures into the traditional four perspectives in their balanced scorecards. Other companies create a new perspective (or two) for sustainability. Which
Burberry Amusements is an owner/operator of several amusement parks. Following is a partial performance report that a Burberry manager built in Excel.Requirements1. Using the Excel file provided
Find an annual report for a publicly held company (go to the company’s website and look for “Investor Relations” or a similar link). How many sustainability initiatives can you find in the
Swirl Confections produces fudge in 10-pound batches. Each batch takes 0.25 hours of direct labor, which includes allowances for breaks, cleanup, and other downtime. Swirl pays its direct labor
Service organizations also use standards. Describe what types of standards might be in effect at each of the following types of organizations:HospitalsLaw firmsAccounting firmsAuto repair
Refer to the data in E11-25A.Data in E11-25A.Boat Guard, which used a standard cost accounting system, manufactured 210,000 boat fenders during the year, using 1,780,000 feet of extruded vinyl
Zack Backpack Company manufactures a variety of backpack models. Each backpack requires a variety of direct materials, including fabric, buckles, zippers, and other materials.Company managers have
Dock Guard, which uses a standard cost accounting system, manufactured 230,000 boat fenders during the year, using 1,660,000 feet of extruded vinyl purchased at $1.20 per foot. Production required
The Lovejoy Hotel upgrades its conference facilities approximately every five years so that it can book larger, more profitable conventions than if it had older décor and technologies.Managers at
Refer to the data in E11-43B.Data in E11-43B.Dock Guard, which uses a standard cost accounting system, manufactured 230,000 boat fenders during the year, using 1,660,000 feet of extruded vinyl
Describe the capital budgeting process in your own words.
Refer to the Wolf Valley Data Set in E12-34A.Data in E12-34A.Consider how Wolf Valley, a popular ski resort, could use capital budgeting to decide whether the $8 million Brook Park Lodge expansion
Oftentimes, investments in sustainability projects do not meet traditional investment selection criteria. Suppose you are a manager and have prepared a proposal to install solar panels to provide
Think of a company with which you are familiar. What are some examples of possible sustainable investments that the company may be able to undertake? How might the company management justify these
McCabe Company reported the following financial statements for 2019 and 2020:Compute the following investing cash flows:a. Purchases of plant assets (all were for cash). There were no sales of plant
Compare the NPV of the hybrid model with the cost of the gasoline-engine model. Which model has the lowest cost (the lowest NPV)? From a purely financial standpoint, does the hybrid model make sense?
Bayview Marine Company makes a variety of boating supplies. The controller is preparing its statement of cash flows for the most recent calendar year. A sample of the pivot table the controller
The Peacelove Hotel upgrades its conference facilities approximately every five years so that it can book larger, more profitable conventions than if it had older décor and technologies.Managers at
Refer to the Archer Hardware information in E12-42B. Compute the ARR for the investment.Data in E12-42B.Archer Hardware is adding a new product line that will require an investment of $1,460,000.
The Tennessee Scooter Company produces several types of scooters. The controller has gathered information from the company’s general ledger data for the past fiscal year and has performed some
Refer to the Soar Mountain Data Set in E12-55B.Data in E12-55B.Consider how Soar Mountain, a popular ski resort, could use capital budgeting to decide whether the $9.5 million State Park Lodge
The Radiance Hotel upgrades its conference facilities approximately every five years so that it can book larger, more profitable conventions than if it has older décor and technologies.Managers at

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