I have a table to fill out for a Healthcare Finance class and I'm really struggling with the TOTAL UNITS column of the first table and the other colums of the tables after that. Help?
| Activity | Annual Costs | Total Units1 | Unit | Alloc Rate | Cost Driver | Test A | Test B | Test C | Test D | |
| Receive specimen | 10,000 | 5000 | Tests | 2.00 | No. Tests | 2,000 | 1,500 | 1,000 | 500 | |
| Equipment setup | 25,000 | Minutes | 8.33 | Minutes per test | 5 | 5 | 10 | 10 | ||
| Run test | 100,000 | Minutes | 2777.78 | Mminutes per test | 1 | 5 | 10 | 20 | ||
| Record results | 10,000 | Minutes | 1000.00 | Minutes per test | 2 | 2 | 2 | 4 | ||
| Transmit results | 5,000 | Minutes | 416.67 | Minutes per test | 3 | 3 | 3 | 3 | ||
| Total annual costs | 150,000 | |||||||||
| 1Determine total number of units per activity. | ||||||||||
| b. Calculate cost per test - allocation rate x units per test (20 points) | ||||||||||
| Test | A | Test | B | Test | C | Test | D | |||
| Activity | Alloc Rate | Units | Cost | Units | Cost | Units | Cost | Units | Cost | |
| Receive specimen | 1 | 1 | 1 | 1 | ||||||
| Equipment setup | 5 | 5 | 10 | 10 | ||||||
| Run test | 1 | 5 | 10 | 20 | ||||||
| Record results | 2 | 2 | 2 | 4 | ||||||
| Transmit results | 3 | 3 | 3 | 3 | ||||||
| Total cost per test | ||||||||||
| c. Confirm accounting for Total annual cost. (16 points) | ||||||||||
| Test | Total # | Cost per | Annual Cost | |||||||
| A | 2000 | |||||||||
| B | 1500 | |||||||||
| C | 1000 | |||||||||
| D | 500 | |||||||||
| Total annual costs | ||||||||||
In: Accounting
Silver City Paints provides the following information for the MixingDepartment for the month of September2018
|
Units |
Costs |
|
|
Beginning Work-in-Process Inventory |
0 |
$0 |
|
Started in Production in September |
21,000 |
40,550* |
|
Total to Account For |
21,000 |
40,550 |
|
Completed and Transferred to Finishing Department |
||
|
during September |
11,000 |
? |
|
Ending Work-in-Process Inventory (15% complete for |
||
|
direct materials; 50% complete for conversion costs) |
10,000 |
? |
|
Total Accounted For |
21,000 |
$40,550 |
|
*Includes $3,750 direct materials and $36,800 conversion costs |
||
Complete a production cost report for the Mixing Department for the month of September 2018 to determine the cost of the units completed and transferred out and the cost of the ending Work-in-Process Inventory-dashMixing. Assume Silver City Paints uses the weighted-average method.
Begin by completing a production cost report for the Mixing Department for the month of September 2018
(Complete all answer boxes. Enter a "0" for any zero balances. Round all cost per unit amounts to the nearest cent. Abbreviation used: EUP = equivalent units of production.)
|
Silver City Paints |
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|
Production Cost Report-Mixing Department |
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|
Month Ended September 30, 2018 |
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|
Physical |
Direct |
Conversion |
|||||||
|
UNITS |
Units |
Materials |
Costs |
||||||
|
Units to account for: |
|||||||||
|
_________________________________ |
_______ |
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|
_________________________________ |
_______ |
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|
Total units to account for |
_______ |
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Units accounted for: |
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|
_________________________________ |
________ |
________ |
________ |
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|
_________________________________ |
________ |
________ |
________ |
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|
Total units accounted for |
________ |
________ |
________ |
||||||
|
Direct |
Conversion |
Total |
|||||||
|
COSTS |
Materials |
Costs |
Costs |
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|
Costs to account for: |
|||||||||
|
______________________ |
________ |
________ |
________ |
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|
______________________ |
________ |
________ |
________ |
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|
Total costs to account for |
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|
______________________ |
________ |
________ |
________ |
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Cost per equivalent unit |
________ |
________ |
________ |
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|
Costs accounted for: |
Direct Materials |
Conversion Cost |
Total Cost |
||||||
|
______________________ |
________ |
________ |
__________ |
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|
______________________ |
________ |
________ |
__________ |
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|
Total costs accounted for |
________ |
________ |
__________ |
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The mixing department transferred _________ units with a cost of $______________ to the Finishing department in September. The ending balance in the Work-in-Process Inventory- Mixing is $_______________
In: Accounting
PA6-1 Calculating Contribution Margin, Contribution Margin Ratio, Break-Even Point [LO 6-1, 6-2]
Hermosa, Inc., produces one model of mountain bike. Partial
information for the company follows:
| Number of bikes produced and sold | 520 | 820 | 1,000 | |||
| Total costs | ||||||
| Variable costs | $ | 123,240 | $ | ? | $ | ? |
| Fixed costs per year | ? | ? | ? | |||
| Total costs | ? | ? | ? | |||
| Cost per unit | ||||||
| Variable cost per unit | ? | ? | ? | |||
| Fixed cost per unit | ? | ? | ? | |||
| Total cost per unit | ? | $ | 524.75 | ? | ||
Required:
1. Complete the table. (Round
your "Cost per Unit" answers to 2 decimal
places.)
| Number of bikes produced and sold | 520 units | 820 units | 1000 units |
| Total Costs | |||
| Variable Costs | $123,340 | ||
| Fixed Costs per year | |||
|
Total Cost |
$123,240 | $0 | $0 |
| Cost per unit | |||
| Variable cost per unit | |||
| Fixed cost per unit |
| Total cost per unit | $0.00 | $574.75 | $0.0 |
2. Calculate Hermosa’s contribution margin ratio
and its total contribution margin at each sales level indicated in
the table assuming the company sells each bike for $800.
(Round your percentage answers to 2 decimal places. (i.e.
.1234 should be entered as 12.34%.))
| 520 units | 820 units | 1000 units | ||||
| Contribution Margin Unit | % | % | % | |||
| Total Contribution margin ratio |
4. Calculate Hermosa’s break-even point in units and sales revenue. (Round your answers to the nearest whole number.)
| Break-even units | Bikes | |
| Break-Even Sales Revenue |
In: Accounting
Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below for May:
| Production data: | ||
| Pounds in process, May 1; materials 100% complete; conversion 90% complete |
66,000 | |
| Pounds started into production during May | 310,000 | |
| Pounds completed and transferred out | ? | |
| Pounds in process, May 31; materials 70% complete; conversion 30% complete |
26,000 | |
| Cost data: | ||
| Work in process inventory, May 1: | ||
| Materials cost | $ | 68,300 |
| Conversion cost | $ | 19,300 |
| Cost added during May: | ||
| Materials cost | $ | 355,130 |
| Conversion cost | $ | 105,930 |
Compute the equivalent units of production for materials and conversion for May.
|
Compute the cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.)
|
Compute the cost of ending work in process inventory for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.)
|
Compute the cost of units transferred out to the next department for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.)
|
Prepare a cost reconciliation report for May. (Round your intermediate calculations to 2 decimal places.)
|
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In: Accounting
Activity Based Costing (ABC)
Data Sets
Activity Cost Pools (in dollars)
Category Design Marketing Other Total
Depreciation $30,000 $8,000 $20,000 $58,000
Indirect Labor $5,000 $3,000 $4,000 $12,000
Total $35,000 $11,000 $24,000 $70,000
Category DLHs Cases
Product Tulips 2,500 600
Product Roses 9,500 2,400
Total 12,000 3,000
Activity Cost Pools (in dollars)
Category Tulips Roses
Total Sales 250,000 280,000
Total Direct Materials 60,000 45,000
Total Direct Labor 48,000 98,000
In: Accounting
Marie and Alex just paid $250,000 for a house. They made a down payment of $50,000 and assumed a 30-year $200,000 mortgage with a fixed annual interest rate of 5.50%. The house will serve as a residence for several years, but Marie and Alex also view it as an investment, as property values in the neighborhood are projected to increase at a rate of 5% per year in the near future. Property taxes on their home will be $4,236 the first year and are expected to increase 3% a year. Homeowners insurance will cost $632 the first year and is expected to increase at a rate of 2% each year. The couple plans to sell the house after eight years. Answer the following questions.
1. What is their monthly payment on principle and interest? Do not include property taxes or home owners insurance (AKA. escrow payment).
2. What would the couple pay in monthly payments over the 8 years that they owned the house?
In: Finance
You are currently working as a Senior Economist for the Congressional Budget Office in Washington DC making $108,000 per year. Your lifelong ambition, however, has been to open your own cupcake store. You decide to quit your job as an economist to open your dream store near the River Walk in San Antonio. You estimate that you will be able to sell 10,000 cupcakes per month at a price of $3.40 per cupcake. You will have to pay monthly rent of $5,000 for renting the retail space and will have other cash costs of $2,500 per month (utilities etc.). The ingredients will cost you $2.00 per cupcake. (3 points) Calculate monthly accounting profits (3 points) Calculate monthly economic profits (3 points) Would an economist recommend that you start this business? Why or Why not?
In: Economics
In the previous units, we learned about basic accounting principles that generally apply to all types of firms. In this unit, we turn our attention to particular accounting concerns of merchant firms.
Because merchants are in many places among the most common type of business, and because there are special issues in accounting for merchandising operations, this subject merits special consideration.
No doubt all of you have merchants in the area where you live, you may often shop there, perhaps some of you may have even worked in a merchant shop. Think of a popular merchant near you. What type of merchandise do they stock? How do you think this merchant determines his or her cost of goods sold? Describe the method and "real" accounts.
250 words or more (must be original no copy paste)
In: Accounting
RBC Royal Bank wanted to evaluate the financial value of its substantial personal customer base to determine which type of customers were the most valuable to the bank. To do this, the bank looked at revenues and expenses from each of its financial products, including loans and credit card usage. To identify and then analyze this information, the bank utilized the MIS analysis technique called ________.
Select one:
a. Data warehousing
b. Marketing research
c. Probability sampling
d. Data mining
e. Market basket analyzing
Through ________, a firm tries to guarantee that its brand will appear at or near the top of lists of typical search phrases related to its business.
Select one or more:
a. Cost per impression pricing
b. Conversion rates
c. Search engine optimization
d. Search engine analytics
e. Predictive analytics
In: Finance
Sheridan provides shuttle service between four hotels near a medical center and an international airport. Sheridan uses two 10-passenger vans to offer 12 round trips per day. A recent month’s activity in the form of a cost-volume-profit income statement is shown below. Sales (1,470 passengers) $41,160 Variable costs Fuel $5,762 Tolls and parking 3,544 Maintenance 984 10,290 Contribution margin 30,870 Fixed costs Salaries 13,100 Depreciation 1,400 Insurance 1,250 15,750 Net income $15,120 (a1) Calculate the break-even point in dollars. Break-even point $ eTextbook and Media (a2) Calculate the break-even point in number of passengers. Break-even point passengers eTextbook and Media (b) Without calculations, determine the contribution margin at the break-even point. Contribution margin at the break-even point $
In: Accounting