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business
managerial accounting

Questions and Answers of Managerial Accounting

The president of Cardio Care Exercise Equipment Co. has been concerned about the growth in costs over the last several years. The president asked the controller to perform an activity analysis to
The administrator of elections for the city of Madisonville has been asked to perform an activity analysis of its optical scanning center. The optical scanning center reads voter forms into the
Furry Friends Inc. manufactures toy stuffed animals. The direct labor time required to cut, sew, and stuff a toy is 10 minutes per unit. The company makes two types of stuffed toys—a lion and a
The budgeted conversion costs for a just-in-time cell are $1,267,500 for 1,950 production hours. Each unit produced by the cell requires 12 minutes of cell process time. During the month, 575 units
Jackson Inc. has analyzed the setup time on its computer-controlled lathe. The setup requires changing the type of fixture that holds a part. The average setup time has been 135 minutes, consisting
The budgeted conversion costs for a just-in-time cell are $180,000 for 1,800 production hours. Each unit produced by the cell requires 24 minutes of cell process time. During the month, 450 units are
Cardio Care Inc., manufactures stationary bicycles and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several
Metropolitan Bank uses activity-based costing to determine the cost of servicing customers. There are three activity pools: teller transaction processing, check processing, and ATM transaction
Elegant Occasions Inc. sells china and flatware over the Internet. For the next period, the budgeted cost of the sales order processing activity is $78,300, and 4,350 sales orders are estimated to be
PlayTyme Company manufactures and sells outdoor play equipment. PlayTyme uses activity-based costing to determine the cost of the sales order processing and the customer return activity. The sales
What would happen to net income if the activities noted in Discussion Question 6 were allocated to products for financial statement reporting and theinventory increased?Data from Discussion Question
The management of Cobalt Engines Inc. manufactures gasoline and diesel engines through two production departments, Fabrication and Assembly. Management needs accurate product cost information in
Peach Computer Company manufactures a desktop and portable computer through two production departments, Assembly and Testing. Presently, the company uses a single plantwide factory overhead rate for
Blue Skies Airline provides passenger airline service, using small jets. The airline connects four major cities: Atlanta, Cincinnati, Chicago, and Los Angeles. The company expects to fly 140,000
Healthmark Medical Inc. wishes to determine its product costs. Healthmark offers a variety of medical procedures (operations) that are considered its €œproducts.€ The overhead
Comfort Step Company manufactures and sells shoes. Comfort Step uses activity-based costing to determine the cost of the sales order processing and the shipping activity. The sales order processing
The total factory overhead for Maritime Marine Company is budgeted for the year at $600,000, divided into four activities: fabrication, $204,000; assembly, $105,000; setup, $156,000; and inspection,
Home & Farm Glove Company produces three types of gloves: small, medium, and large. A glove pattern is first stenciled onto leather in the Pattern Department. The stenciled patterns are then sent
Z-Rox Inc. manufactures office copiers, which are sold to retailers. The price and cost of goods sold for each copier are as follows:Price................................................$890 per
Western Mechancial Inc. manufactures cooling units for commercial buildings. The price and cost of goods sold for each unit are as follows:Price...........................................$55,200 per
The total factory overhead for Urban Styles, Inc., is budgeted for the year at $225,000, divided into four activities: cutting, $22,500; sewing, $45,000; setup, $100,000; and inspection, $57,500.
Flint Engine Parts Inc. (FEP) produces three products€”pistons, valves, and cams€”for the heavy equipment industry. FEP has a very simple production process and product line and
Alabama Paper Company manufactures three products (computer paper, newsprint, and specialty paper) in a continuous production process. Senior management has asked the controller to conduct an
The total factory overhead for Maritime Marine Company is budgeted for the year at $600,000, divided into two departments: Fabrication, $420,000, and Assembly, $180,000. Maritime manufactures two
Krispy Treats Snack Food Company manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has budgeted the following costs for the upcoming period:Factory
Pro Audio Inc. manufactures two products: receivers and loudspeakers. The factory over-head incurred is as follows: Indirect labor.................................................$260,000Sub
White Mountain Sports Inc. manufactures two products: snowboards and skis. The factory overhead incurred is as follows:Indirect labor........................$200,000Cutting
Sousa Band Instruments Inc. makes three musical instruments: trumpets, tubas, and trombones. The budgeted factory overhead cost is $139,500. Factory overhead is allocated to the three products on the
The total factory overhead for Maritime Marine Company is budgeted for the year at $600,000. Maritime Marine manufactures two types of boats: speedboats and bass boats. The speedboat and bass boat
Daisy Dairy Company manufactures three products€”whole milk, skim milk, and cream€”in two production departments, Blending and Packing. The factory overhead for Daisy Dairy is
California Chrome Company manufactures three chrome-plated products€”automobile bumpers, valve covers, and wheels. These products are manufactured in two production departments (Stamping
The total factory overhead for Urban Styles, Inc., is budgeted for the year at $225,000. Urban Styles manufactures two types of men’s pants: jeans and khakis. The jeans and khakis each require 0.15
Solid Solutions Inc. is considering the purchase of automated machinery that is expected to have a useful life of five years and no residual value. The average rate of return on the average
Hawkeye Healthcare Corp. is proposing to spend $134,136 on an eight-year project that has estimated net cash flows of $27,000 for each of the eight years.a. Compute the net present value, using a
The Canyons Resort, a Utah ski resort, recently announced a $400 million expansion to lodging properties, lifts, and terrain. Assume that this investment is estimated to produce $70.8 million in
The internal rate of return method is used by Maxwell Construction Co. in analyzing a capital expenditure proposal that involves an investment of $45,420 and annual net cash flows of $12,000 for
Carnival Corporation has recently placed into service some of the largest cruise ships in the world. One of these ships, the Carnival Dream, can hold up to 3,600 passengers and cost $750 million to
Project 1 requires an original investment of $12,000. The project will yield cash flows of $4,000 per year for seven years. Project 2 has a calculated net present value of $6,500 over a four-year
Easton Excavation Company is planning an investment of $120,000 for a bulldozer. The bulldozer is expected to operate for 1,400 hours per year for five years. Customers will be charged $105 per hour
Project A requires an original investment of $112,000. The project will yield cash flows of $22,000 per year for nine years. Project B has a calculated net present value of $2,400 over a six-year
Luxmark Hotels is considering the construction of a new hotel for $210 million. The expected life of the hotel is 30 years with no residual value. The hotel is expected to earn revenues of $58
A project is estimated to cost $409,370 and provide annual net cash flows of $94,000 for six years. Determine the internal rate of return for this project, using Exhibit 2.Exhibit 2: Present Value
Courier Express, Inc., is considering the purchase of an additional delivery vehicle for $48,000 on January 1, 2012. The truck is expected to have a five-year life with an expected residual value of
A project is estimated to cost $71,580 and provide annual net cash flows of $15,000 for nine years. Determine the internal rate of return for this project, using Exhibit 2.Exhibit 2: Present Value
The following data are accumulated by Parker Company in evaluating the purchase of $126,000 of equipment, having a four-year useful life:a. Assuming that the desired rate of return is 15%, determine
Renaissance Capital Group is considering allocating a limited amount of capital investment funds among four proposals. The amount of proposed investment, estimated income from operations, and net
Nova Communications Inc. is considering allocating a limited amount of capital investment funds among four proposals. The amount of proposed investment, estimated income from operations, and net cash
Bath Works Products Company is considering an investment in one of two new product lines. The investment required for either product line is $660,000. The net cash flows associated with each product
The investment committee of Shield Insurance Co. is evaluating two projects, office expansion and upgrade to computer servers. The projects have different useful lives, but each requires an
The investment committee of Fiesta Cantina Restaurants Inc. is evaluating two restaurant sites. The sites have different useful lives, but each requires an investment of $780,000. The estimated net
Nations Trust is evaluating two capital investment proposals for a drive-up ATM kiosk, each requiring an investment of $320,000 and each with an eight-year life and expected total net cash flows of
The management of Pacific Utilities Inc. is considering two capital investment projects. The estimated net cash flows from each project are as follows:The generating unit requires an investment of
A project has estimated annual net cash flows of $8,600. It is estimated to cost $47,300. Determine the cash payback period. Round to one decimal place.
The management of Saturn Networks Inc. is considering two capital investment projects. The estimated net cash flows from each project are as follows:The radio station requires an investment of
Mid-Continent Railroad Company wishes to evaluate three capital investment proposals by using the net present value method. Relevant data related to the proposals are summarized as follows:1.
A project has estimated annual net cash flows of $121,000. It is estimated to cost $798,600. Determine the cash payback period. Round to one decimal place.
Based on the data presented in Exercise 24-17 assume that Voice Com, Inc., uses the variable cost concept of applying the cost-plus approach to product pricing.a. Determine the variable costs and the
Determine the average rate of return for a project that is estimated to yield total income of $54,000 over three years, has a cost of $80,000, and has a $20,000 residual value.
The capital investment committee of Hampton Landscaping Company is considering two capital investments. The estimated income from operations and net cash flows from each investment are as
A machine with a book value of $75,000 has an estimated five-year life. A proposal is offered to sell the old machine for $64,000 and replace it with a new machine at a cost of $80,000. The new
A condensed income statement by product line for Crown Beverage Inc. indicated the following for King Cola for the past year:Sales........................................................$235,000Cost
Product T has revenue of $194,000, variable cost of goods sold of $115,000, variable selling expenses of $33,000, and fixed costs of $60,000, creating a loss from operations of $14,000. Prepare a
Lâ€™Essence Cosmetics Company is planning a one-month campaign for June to promote sales of one of its two cosmetics products. A total of $150,000 has been budgeted for advertising, contests,
Gilroy Corporation is considering new equipment. The equipment can be purchased from an overseas supplier for $3,200. The freight and installation costs for the equipment are $640. If purchased,
Saginaw Tooling Company is considering replacing a machine that has been used in its factory for two years. Relevant data associated with the operations of the old machine and the new machine,
Lassiter Company owns equipment with a cost of $140,000 and accumulated depreciation of $75,000 that can be sold for $55,000, less a 6% sales commission. Alternatively, the equipment can be leased by
Franklin Printing Company is considering replacing a machine that has been used in its factory for four years. Relevant data associated with the operations of the old machine and the new machine,
Kincaid Company owns a machine with a cost of $365,000 and accumulated depreciation of $55,000 that can be sold for $276,000, less a 5% sales commission. Alternatively, the machine can be leased by
On August 1, Matrix Stores Inc. is considering leasing a building and purchasing the necessary equipment to operate a retail store. Alternatively, the company could use the funds to invest in
The Walt Disney Company has four profitable business segments, described as follows:€¢ Media Networks:The ABC television and radio network, The Disney Channel, ESPN, A&E, E!, and
The condensed income statement for the Domestic Division of Fahkahany Industries Inc. is as follows (assuming no service department charges):The manager of the Domestic Division is considering ways
One item is omitted from each of the following computations of the rate of return on investment:Determine the missing items, identifying each by the appropriate letter. Rate of Return on Investment =
Temasec Airlines, Inc., has two divisions organized as profit centers, the Passenger Division and the Cargo Division. The following divisional income statements were prepared:The service department
Ryan Snow Sports Company has two divisions, Wholesale and Retail, and two corporate service departments, Tech Support and Accounts Payable. The corporate expenses for the year ended December 31,
Harris Corporation, a manufacturer of electronics and communications systems, uses a service department charge system to charge profit centers with Computing and Communications Services (CCS) service
Lockhart Industries, Inc., is a diversified aerospace company, including two operating divisions, Semiconductors and Navigational Systems divisions. Condensed divisional income statements, which
The vice president of operations of Cantor Bike Company is evaluating the performance of two divisions organized as investment centers. Invested assets and condensed income statement data for the
A condensed income statement for the Electronics Division of Fannie Industries Inc. for the year ended January 31, 2012, is as follows:Assume that the Electronics Division received no charges from
A condensed income statement for the Golf Division of Rewind Sports Inc. for the year ended December 31, 2012, is as follows:Assume that the Golf Division received no charges from service
Edward Baird Company is a diversified investment company with three operating divisions organized as investment centers. Condensed data taken from the records of the three divisions for the year
Vonn Motion Company’s costs were under budget by $175,000. The company is divided into North and South regions. The North Region’s costs were over budget by $60,000. Determine the amount that the
Johnson Products Inc. has three regional divisions organized as profit centers. The chief executive officer (CEO) evaluates divisional performance, using income from operations as a percent of
Partially completed budget performance reports for Gehring Company, a manufacturer of air conditioners, are provided on the following page.a. Complete the budget performance reports by determining
Bahrke Company’s costs were over budget by $300,000. The company is divided into West and East regions. The East Region’s costs were under budget by $60,000. Determine the amount that the West
Lake Area College wishes to monitor the efficiency and quality of its course registration process.a. Identify three input and three output measures for this process.b. Why would Lake Area College use
Ace, Inc., is an Internet retailer of golf equipment. Customers order golf equipment from the company, using an online catalog. The company processes these orders and delivers the requested product
The Assembly Department produced 2,000 units of product during June. Each unit required 1.75 standard direct labor hours. There were 3,800 actual hours used in the Assembly Department during June at
Gemini Manufacturing Company incorporates standards in its accounts and identifies variances at the time the manufacturing costs are incurred. Journalize the entries to record the following
Medical Molded Products Inc. prepared the following factory overhead cost budget for the Trim Department for March 2012, during which it expected to use 10,000 hours for production:Medical Molded
The data related to Elite Sporting Goods Company€™s factory overhead cost for the production of 50,000 units of product are as follows:Productive capacity at 100% of normal was 75,000
Casual Comfort Textiles Corporation began January with a budget for 30,000 hours of production in the Weaving Department. The department has a full capacity of 40,000 hours under normal business
The following data relate to factory overhead cost for the production of 4,000 computers:If productive capacity of 100% was 6,500 hours and the factory overhead cost budgeted at the level of 5,000
The following are inputs and outputs to the copying process of a copy shop:Number of pages copied per hourNumber of customer complaintsNumber of times paper supply runs outNumber of employee
Young Company produced 500 units of product that required 2.5 standard hours per unit. The standard fixed overhead cost per unit is $0.30 per hour at 1,500 hours, which is 100% of normal capacity.
Primm Company produced 2,500 units of product that required three standard hours per unit. The standard fixed overhead cost per unit is $1.30 per hour at 7,000 hours, which is 100% of normal
Yukon Coat Company makes women€™s and men€™s coats. Both products require filler and lining material. The following planning information has been made available:Yukon Coat does not expect
The management of Jamaican Sugar Company is considering whether to process further raw sugar into refined sugar. Refined sugar can be sold for $2.15 per pound, and raw sugar can be sold without
Product J has revenue of $49,000, variable cost of goods sold of $28,000, variable selling expenses of $15,000, and fixed costs of $14,000, creating a loss from operations of $8,000. Prepare a
The management of Pittsburgh Aluminum Co. is considering whether to process aluminum ingot further into rolled aluminum. Rolled aluminum can be sold for $1,800 per ton, and ingot can be sold without
The condensed product-line income statement for Porcelain Tableware Company for the month of December is as follows:Fixed costs are 15% of the cost of goods sold and 40% of the selling and

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