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business
managerial accounting

Questions and Answers of Managerial Accounting

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
Display Labs Inc. recently began production of a new product, flat panel displays, which required the investment of $1,800,000 in assets. The costs of producing and selling 9,000 units of flat panel
A restaurant bakes its own bread for $150 per unit (100 loaves), including fixed costs of $34 per unit. A proposal is offered to purchase bread from an outside source for $101 per unit, plus $9 per
Safety Systems, Inc., recently began production of a new product, the halogen light, which required the investment of $600,000 in assets. The costs of producing and selling 10,000 halogen lights are
Charles Schwab Corporation is one of the more innovative brokerage and financial service companies in the United States.The company recently provided information about its major business segments as
Atlas Steel Company produces three grades of steel: high, good, and regular grade. Each of these products (grades) has high demand in the market, and Atlas is able to sell as much as it can produce
A company manufactures various sized plastic bottles for its medicinal product. The manufacturing cost for small bottles is $46 per unit (100 bottles), including fixed costs of $14 per unit. A
Dover Chemical Company produces three products: ethylene, butane, and ester. Each of these products has high demand in the market, and Dover Chemical is able to sell as much as it can produce of all
On the basis of the data at the top of the following page, the general manager of Glide Shoes Inc. decided to discontinue Children€™s Shoes because it reduced income from operations by
A machine with a book value of $250,000 has an estimated six-year life. A proposal is offered to sell the old machine for $216,000 and replace it with a new machine at a cost of $282,000. The new
Matchless Computer Company has been purchasing carrying cases for its portable computers at a delivered cost of $55 per unit. The company, which is currently operating below full capacity, charges
The Theater Arts Guild of Miami (TAG-M) employs five people in its Publication Department. These people layout pages for pamphlets, brochures, magazines, and other publications for the TAG-M
Product T is produced for $3.50 per pound. Product T can be sold without additional processing for $4.15 per pound, or processed further into Product U at an additional cost of $0.44 per pound.
A company is considering replacing an old piece of machinery, which cost $600,000 and has $350,000 of accumulated depreciation to date, with a new machine that costs $485,000. The old equipment could
Product D is produced for $52 per gallon. Product D can be sold without additional processing for $80 per gallon, or processed further into Product E at an additional cost of $19 per gallon. Product
Taipei Digital Components Company assembles circuit boards by using a manually operated machine to insert electronic components. The original cost of the machine is $60,000, the accumulated
Jackson Lumber Company incurs a cost of $390 per hundred board feet in processing certain “rough-cut” lumber, which it sells for $555 per hundred board feet. An alternative is to produce a
Product R is normally sold for $45 per unit. A special price of $32 is offered for the export market. The variable production cost is $25 per unit. An additional export tariff of 15% of revenue must
Abica Roast Coffee Company produces Columbian coffee in batches of 6,000 pounds. The standard quantity of materials required in the process is 6,000 pounds, which cost $5.00 per pound. Columbian
Product A is normally sold for $8.90 per unit. A special price of $6.60 is offered for the export market. The variable production cost is $5.10 per unit. An additional export tariff of 25% of revenue
Country Jeans Co. has an annual plant capacity of 65,000 units, and current production is 45,000 units. Monthly fixed costs are $40,000, and variable costs are $25 per unit. The present selling price
Crescent Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $60 per unit, of which $32 is product cost and $28 is selling and administrative expenses. In addition,
Forever Ready Company expects to operate at 85% of productive capacity during May. The total manufacturing costs for May for the production of 25,000 batteries are budgeted as follows:Direct
Eden Garden Tools Inc. produces and sells home and garden tools and equipment. A lawnmower has a total cost of $200 per unit, of which $140 is product cost and $60 is selling and administrative
Glide Ride Tire and Rubber Company has capacity to produce 170,000 tires. Glide Ride presently produces and sells 130,000 tires for the North American market at a price of $90 per tire. Glide Ride is
Product A has a unit contribution margin of $27. Product B has a unit contribution margin of $55. Product A requires three testing hours, while Product B requires five testing hours. Determine the
Mademoiselle Company produces women’s handbags. The cost of producing 1,200 hand-bags is as follows:Direct materials.........................................$16,000Direct
Product K has a unit contribution margin of $160. Product L has a unit contribution margin of $80. Product K requires eight furnace hours, while Product L requires five furnace hours. Determine the
Toyota Motor Corporation uses target costing. Assume that Toyota marketing personnel estimate that the competitive selling price for the Camry in the upcoming model year will need to be $24,000.
Pennsylvania Glass Company manufactures three types of safety plate glass: large, medium, and small. All three products have high demand. Thus, Pennsylvania Glass is able to sell all the safety glass
Based on the data presented in Exercise 24-17 assume that Voice Com, Inc., uses the total cost concept of applying the cost-plus approach to product pricing.a. Determine the total costs and the total
The following data are accumulated by ChemLabs, Inc. in evaluating two competing capital investment proposals:Determine the expected average rate of return for each proposal. Testing Equipment
Determine the average rate of return for a project that is estimated to yield total income of $180,000 over five years, has a cost of $340,000, and has a $20,000 residual value.

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