IF YOU'RE NOT ABLE TO ANSWER ALL, PLEASE SKIP :) THANK YOU
1) Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $10, direct labor $12, variable manufacturing overhead $7, fixed manufacturing overhead $14, variable selling and administrative expenses $6, and fixed selling and administrative expenses $8. Using a 41% markup percentage on total per-unit cost, compute the target selling price. (Round answer to 2 decimal places, e.g. 10.50.) Target Selling Price $____________
2) The Heating Division of Kobe International produces a heating element that it sells to its customers for $44 per unit. Its variable cost per unit is $27, and its fixed cost per unit is $5. Top management of Kobe International would like the Heating Division to transfer 15,000 heating units to another division within the company at a price of $27. The Heating Division is operating at full capacity. What is the minimum transfer price that the Heating Division should accept? Minimum Transfer Price $__________
3) Morales Corporation produces microwave ovens. The following per unit cost information is available: direct materials $30, direct labor $28, variable manufacturing overhead $21, fixed manufacturing overhead $38, variable selling and administrative expenses $18, and fixed selling and administrative expenses $30. Its desired ROI per unit is $31. Compute the markup percentage using absorption-cost pricing. (Round answer to 2 decimal places, e.g. 10.50%.) Markup Percentage _________%
4) Morales Corporation produces microwave ovens. The following per unit cost information is available: direct materials $39, direct labor $22, variable manufacturing overhead $17, fixed manufacturing overhead $40, variable selling and administrative expenses $15, and fixed selling and administrative expenses $29. Its desired ROI per unit is $30. Compute the markup percentage using variable-cost pricing. (Round answer to 2 decimal places, e.g. 10.50%.) Markup Percentage _______%
In: Accounting
1) A public good is described, in part, as a good
A) that has a marginal cost at or near zero.
B) that is essential to life.
C) which has all of these characteristics.
D) that may be depleted if demand is heavy.
2) The optimal output of a public good occurs where
A) the marginal benefit of the consumer who values the good most should equal the marginal cost of the good.
B) the sum of the marginal benefit of each consumer at a given output equals the marginal cost of the good.
C) the total cost of the good equals the cumulated benefits of all consumers.
D) the horizontal sum of the consumer benefits of the good should equal the marginal cost of producing the good.
3) Which is not a good method of providing public type goods by private means?
A) Private contracts
B) Clubs
C) Free markets with competing entrepreneurs
C) Funding by donation
Please answer all of the questions
In: Economics
|
Samuelson and Messenger (S&M) began 2013 with 220 units of its one product. These units were purchased near the end of 2012 for $22 each. During the month of January, 110 units were purchased on January 8 for $25 each and another 220 units were purchased on January 19 for $27 each. Sales of 130 units and 120 units were made on January 10 and January 25, respectively. There were 300 units on hand at the end of the month. S&M uses a periodic inventory system. |
|
Calculate ending inventory and cost of goods sold for January using (1) FIFO, and (2) average cost. (Round your intermediate calculations to 1 decimal place. Round your average cost values to the nearest dollar amount.) |
| FIFO | Average cost | |
| Ending inventory | $ | $ |
| Cost of goods sold | $ | $ |
In: Accounting
Greenwood Company manufactures two products—14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z:
| Activity Cost Pool | Activity Measure | Estimated Overhead Cost | Expected Activity |
||||
| Machining | Machine-hours | $ | 200,000 | 10,000 | MHs | ||
| Machine setups | Number of setups | $ | 100,000 | 200 | setups | ||
| Production design | Number of products | $ | 84,000 | 2 | products | ||
| General factory | Direct labor-hours | $ | 300,000 | 12,000 | DLHs | ||
| Activity Measure | Product Y | Product Z | ||||
| Machining | 8,000 | 2,000 | ||||
| Number of setups | 40 | 160 | ||||
| Number of products | 1 | 1 | ||||
| Direct labor-hours | 9,000 | 3,000 | ||||
Foundational 4-3
3. What is the activity rate for the Machining activity cost pool?
1. What is the company’s plantwide overhead rate?
2. Using the plantwide overhead rate, how much manufacturing overhead cost is allocated to Product Y and Product Z?
3. What is the activity rate for the Machining activity cost pool?
4. What is the activity rate for the Machine Setups activity cost pool?
5. What is the activity rate for the Product Design activity cost pool?
6. What is the activity rate for the General Factory activity cost pool?
7. Which of the four activities is a batch-level activity?
Product design activity
Machine setups activity
Machining activity
General factory activity
8. Which of the four activities is a product-level activity?
Product design activity
Machining activity
Machine setups activity
General factory activity
9. Using the ABC system, how much total manufacturing overhead cost would be assigned to Product Y?
10. Using the ABC system, how much total manufacturing overhead cost would be assigned to Product Z?
11. Using the plantwide overhead rate, what percentage of the total overhead cost is allocated to Product Y and Product Z?
12. Using the ABC system, what percentage of the Machining costs is assigned to Product Y and Product Z?
13. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z?
14. Using the ABC system, what percentage of the Product Design cost is assigned to Product Y and Product Z?
15. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product Z?
In: Accounting
Why should we hire you as a construction project Engineer on a complex, multi-phase large road or bridge construction project.
In: Civil Engineering
25. What is the seventh step in the construction of the X bar chart?
26. Explain how the centerline and control limits of the R chart are mathematically calculated.
28. What is the eighth step in the construction of the X bar chart?
35. What is the ninth step in the construction of the X bar chart?
36. What are the four steps taken to revise the charts?
In: Operations Management
Question 1
a) The terms “Efficiency” and “Effectiveness” are extremely important to the success of any construction project and the site manager. In your own words define and distinguish the meaning of the two terms with suitable examples with respect to a construction site in the UK.
b) Apply the two terms in your role as a construction site manager and illustrate how you would achieve the right balance between the two.
c) What other aspect of your work as a site manager in a construction site would you rank at the top of all other issues/activities/tasks and why?
In: Civil Engineering
Mawn Company bought land and built a warehouse during 2016. It improperly debited the following related costs to an account titled Land and Buildings:
Land purchase $22,000
Demolition of old building $3,000
Legal fees for land acquisition $1,500
Capitalized interest on loan for construction of building $2,900
Building construction $53,000
Assessment by city for sewer connection—city is responsible for maintenance $1,200
Landscaping (expected to be permanent in nature) $3,500
Equipment purchased for excavation $18,800
Pro rata portion of fixed overhead incurred during construction of building $15,000
Insurance on building during construction $1,000
Profit on construction $12,000
Compensation for injury to construction worker (not covered by the insurance policy purchased by Mawn) $3,000
Modifications to building ordered by building inspectors (due to poor planning by Mawn) $7,500
Deliquent property taxes on land paid in 2016 (land was purchased during the year) $2,500
Required: Prepare the correcting entries on December 31, to properly reclassify the preceding items.
In: Accounting
Many lakes in the Adirondack State Park in New York are carefully managed. At some lakes, fines are levied for introducing non-intended fish into the lake. Why would such a rule exist? (Answer this question from an externality perspective!)
In: Economics
Many hotels have implemented aggressive recycling programs. Assume an employee within the hotel approached you about starting a comprehensive recycling program. What factors would influence the hotel’s decision to make a commitment to such a program?
In: Operations Management