Problem 2-19 (Algo) Multiple Predetermined Overhead Rates; Applying Overhead [LO2-1, LO2-2, LO2-4]

High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor-hours. At the beginning of the year, the company provided the following estimates:

Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job:

Required:

1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department.

2. Compute the total overhead cost applied to Job 205.

3-a. What would be the total manufacturing cost recorded for Job 205?

3-b. If the job contained 30 units, what would be the unit product cost?

Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3,LO2-4]

[The following information applies to the questions displayed below.]

Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company provided the following estimates at the beginning of the year:

During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs—Job D-70 and Job C-200. It provided the following information related to those two jobs:

Delph had no underapplied or overapplied manufacturing overhead during the year.

Exercise 2-15 Part 1

Required:

1. Assume Delph uses a plantwide predetermined overhead rate based on machine-hours.

a. Compute the plantwide predetermined overhead rate.

b. Compute the total manufacturing cost assigned to Job D-70 and Job C-200.

c. If Delph establishes bid prices that are 150% of total manufacturing cost, what bid prices would it have established for Job D-70 and Job C-200?

d. What is Delph’s cost of goods sold for the year?

Case 2-22 Plantwide versus Departmental Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3, LO2-4]

“Blast it!” said David Wilson, president of Teledex Company. “We’ve just lost the bid on the Koopers job by $2,000. It seems we’re either too high to get the job or too low to make any money on half the jobs we bid.”

Teledex Company manufactures products to customers’ specifications and uses a job-order costing system. The company uses a plantwide predetermined overhead rate based on direct labor cost to apply its manufacturing overhead (assumed to be all fixed) to jobs. The following estimates were made at the beginning of the year:

Jobs require varying amounts of work in the three departments. The Koopers job, for example,
would have required manufacturing costs in the three departments as follows:

Required:

1. Using the company's plantwide approach:

a.Compute the plantwide predetermined rate for the current year.

b.Determine the amount of manufacturing overhead cost that would have been applied to the Koopers job.

2. Suppose that instead of using a plantwide predetermined overhead rate, the company had used departmental predetermined overhead rates based on direct labor cost. Under these conditions:

a.Compute the predetermined overhead rate for each department for the current year.

b.Determine the amount of manufacturing overhead cost that would have been applied to the Koopers job.

4. Assume that it is customary in the industry to bid jobs at 150% of total manufacturing cost (direct materials, direct labor, and applied overhead).

a.What was the company’s bid price on the Koopers job using a plantwide predetermined overhead rate?

b.What would the bid price have been if departmental predetermined overhead rates had been used to apply overhead cost?

Garrison 16e Rechecks 2017-08-08, 2018-08-21, 2018-08-31, 2018-09-04, 2018-09-27

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Classify the variables by the levels of measurement used. Explain your choice of the levels of measurement. Also, state whether it is quantitative or qualitative.

Write a program that prompts the user to enter an integer from 1 to 15 and displays a

pyramid, as shown in the following sample run:

here............THE PYRAMID HAS TO BE THIS SHAPE

AND IT IS DONE IN JAVA PLEASE

7 6 5 4 3 2 1 2 3 4 5 6 7

6 5 4 3 2 1 2 3 4 5 6

5 4 3 2 1 2 3 4 5

4 3 2 1 2 3 4

3 2 1 2 3

2 1 2

1

PA4-4 (Algo) Selecting Cost Drivers, Assigning Costs Using Activity Rates [LO 4-1, 4-3, 4-4, 4-6] Keller Company makes two models of battery-operated boats, the Sandy Beach and the Rocky River. Basic production information follows: Sandy Beach Rocky River Direct materials cost per unit $ 19.70 $ 27.80 Direct labor cost per unit 13.10 18.80 Sales price per unit 83.20 106.00 Expected production per month 1,210 units 980 units Keller has monthly overhead of $11,272, which is divided into the following cost pools: Setup costs $ 2,170 Quality control 5,940 Maintenance 3,162 Total $ 11,272 The company has also compiled the following information about the chosen cost drivers: Sandy Beach Rocky River Total Number of setups 15 20 35 Number of inspections 120 375 495 Number of machine hours 1,550 1,550 3,100 Required: 1. Suppose Keller uses a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line. (Do not round intermediate calculations and round your final answers to the nearest whole dollar amount.) 2. Calculate the production cost per unit for each of Keller’s products under a traditional costing system. (Round your intermediate calculations and final answers to 2 decimal places.) 3. Calculate Keller’s gross margin per unit for each product under the traditional costing system. (Round your intermediate calculations and final answers to 2 decimal places.) 4. Select the appropriate cost driver for each cost pool and calculate the activity rates if Keller wanted to implement an ABC system. (Round your answers to 2 decimal places.) 5. Assuming an ABC system, assign overhead costs to each product based on activity demands.(Round your intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) 6. Calculate the production cost per unit for each of Keller’s products with an ABC system. (Round your intermediate calculations and final answers to 2 decimal places.) 7. Calculate Keller’s gross margin per unit for each product under an ABC system. (Round your intermediate calculations and final answers to 2 decimal places.) 8. Compare the gross margin per unit of each product under the traditional system and ABC. (Round your answers to 2 decimal places.

For each variable:

Construct a frequency distribution

Calculate appropriate measures of central tendency

Calculate appropriate measures of dispersion

Write a sentence or two summarizing the frequency distribution, central tendency, and dispersion of each variable

Each item is worth 10 points for a total of 40 points.

Survey Items:

1. What is your age in years? (Values are actual ages.)

2. Educational level

                        0. Less than HS

                        1. High School

                        2. Jr. College

                        3. Bachelor's degree

                        4. Graduate school

3. Gender

                        1. Male

                        2. Female

4. "White people have a right to keep Blacks out of their neighborhoods. "

                        1. Agree strongly

                        2. Agree slightly

                        3. Disagree slightly

                        4. Disagree strongly

Please see the next page for the dataset.

Segregated

Case     Age    Degree    Sex    Neighborhoods

1         29       3          2                    4

2         38       3        2                    4

3         63       2        2                    4

4         30       1        1                    3

5         38       1        1                    2

6         48       3        1                    3

7         28       1        2                    2

8         30       3        2                    2

9         25       0        2                    3

10        35       1        1                    4

11        73       0        2                    3

12        55       3        1                    4

13        70       4        2                    4

14        50       1        2                    1

15        62       0        1                    2

16        45       3        1                    2

17        45       2        2                    4

18        35       1        1                    2

19        74       1        2                    4

20        32       0        1                    1

21        36       1        1                    4

22        29       1        2                    2

23        42       3        2                    1

24        40       1        2                    4

25        35       1        2                    3

26        68       3        2                    4

27        38       1        2                    2

28        32         2        2                    4

29        50       0        2                    3

30        26       1        2                    4

1.6) Mention the business implications of performing ANOVA for this particular case study.

Using the following 3 securities calculate:

1. Expected return

2. Variance

3. Standard deviation

4. Correlation between all possible pairs

5. Covariance between all possible pairs

Probability Stock A Stock B Stock C

.2 14% 29% 4%

.2 11% 21% 9%

.2 5.25% 25% 14%

.4 -3% 10% 20%

Using the following percentages, calculate the portfolio variance and expected return for each portfolio.

Portfolio Stock A Stock B Stock C

1 40% 60%

2 60% 40%

3 35% 30% 35%