(PLEASE COPY PASTE THIS TABLE AND ANSWER IN THE BLANKS)

Builder Products, Inc. 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:

Materials are added at several stages during the cooking process, whereas labour and overhead costs are incurred uniformly. The company uses the weighted average cost method. The company combines labour and overhead into a single cost category—conversion cost.

Required:

Prepare a production report for the cooking department for May. Use the following three steps in preparing your report:

1. Prepare a quantity schedule and a computation of equivalent units.

2. Compute the costs per equivalent unit for the month. (Round your answers to 3 decimal places.)

3. Using the data from parts (1) and (2), prepare a cost reconciliation. (Round "Cost per equivalent unit" to 3 decimal places and the rest to the nearest dollar amount.)

Note: There is difference of "$28" in both the values due to rounding and we feel a note which reads: "Due to rounding, your "Cost accounted for" may not be equal to "Cost to account for"".

4. Prepare a production report for the cooking department for May. Assuming the company uses the FIFO method. Follow parts (1) to (3). (Leave no cells blank, enter "0" wherever required. Round "Cost per equivalent unit" to 3 decimal places and the rest to the nearest dollar amount.)

  
Quantity Schedule and Equivalent Units

Cost per Equivalent Unit

Cost Reconciliation

Note: There is difference of "$28" in both the values due to rounding and we feel a note which reads: "Due to rounding, your "Cost accounted for" may not be equal to "Cost to account for"".

Builder Products, Inc. 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:

Materials are added at several stages during the cooking process, whereas labour and overhead costs are incurred uniformly. The company uses the weighted average cost method. The company combines labour and overhead into a single cost category—conversion cost.

Required:

Prepare a production report for the cooking department for May. Use the following three steps in preparing your report:

1. Prepare a quantity schedule and a computation of equivalent units.

2. Compute the costs per equivalent unit for the month. (Round your answers to 3 decimal places.)

3. Using the data from parts (1) and (2), prepare a cost reconciliation. (Round "Cost per equivalent unit" to 3 decimal places and the rest to the nearest dollar amount.)

Note: There is difference of "$28" in both the values due to rounding and we feel a note which reads: "Due to rounding, your "Cost accounted for" may not be equal to "Cost to account for"".

4. Prepare a production report for the cooking department for May. Assuming the company uses the FIFO method. Follow parts (1) to (3). (Leave no cells blank, enter "0" wherever required. Round "Cost per equivalent unit" to 3 decimal places and the rest to the nearest dollar amount.)

  
Quantity Schedule and Equivalent Units

Cost per Equivalent Unit

Cost Reconciliation

Note: There is difference of "$28" in both the values due to rounding and we feel a note which reads: "Due to rounding, your "Cost accounted for" may not be equal to "Cost to account for"".

Robinson Products Company has two service departments (S1 and S2) and two production departments (P1 and P2). The distribution of each service department’s efforts (in percentages) to the other departments is:

The direct operating costs of the departments (including both variable and fixed costs) are:

Required:

1. Determine the total cost of P1 and P2 using the direct method.

2. Determine the total cost of P1 and P2 using the step method.

3. Determine the total cost of P1 and P2 using the reciprocal method.

• Required 1
• Required 2
• Required 3

Determine the total cost of P1 and P2 using the direct method. (Do not round intermediate calculations.)

PoMA Ltd uses the Economic Order Quantity Model to determine order quantities. The following information is given for the next year:

Order costs 20 per order

Delivery costs 5 per order

Holding costs 10% of purchase price per annum

Annual demand 19,000 units

Purchase price 40 per unit

No safety stocks are held.

a. What is the EOQ?

b. What are the total annual costs of stock if the company uses EOQ to determine quantity ordered every time (i.e. the total purchase cost plus total ordering cost plus total holding cost)?

c. A supplier has offered a 1% reduction in the purchase price if a minimum of 1000 units are ordered per order. Compute the total annual cost if PoMA decided to avail this option. What saving or incremental cost would this result in for PoMA Ltd compared to ordering the EOQ?

yes included

An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation.

a. Compute b₁ and b₀ (to 1 decimal).
b₁ [     ]
b₀ [     ]
Compute the estimated regression equation (to 1 decimal).
ŷ = [ ] + [ ]x

b. What is the variable cost per unit produced (to 1 decimal)?
$[     ]

c. Compute the coefficient of determination (to 3 decimals). Note: report r² between 0 and 1.
r² = [     ]
What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)?
[     ]%

d. The company's production schedule shows 500 units must be produced next month. What is the estimated total cost for this operation (to the nearest whole number)?
$[     ]

An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation.

1. Compute b₁ and b₀ (to 1 decimal).
   b₁  
   b₀  
   
   Complete the estimated regression equation (to 1 decimal).
   =  +  x
   
2. What is the variable cost per unit produced (to 1 decimal)?
   $
   
3. Compute the coefficient of determination (to 3 decimals). Note: report r² between 0 and 1.
   r² =  
   
   What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)?
   %
   
4. The company's production schedule shows 500 units must be produced next month. What is the estimated total cost for this operation (to the nearest whole number)?
   $

An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation.

a. Compute b₁ and b₀ (to 1 decimal).



Complete the estimated regression equation (to 1 decimal).
y^=___+___x

b. What is the variable cost per unit produced (to 1 decimal)?


c. Compute the coefficient of determination (to 3 decimals). Note: report r² between 0 and 1.


What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)?


d. The company's production schedule shows 500 units must be produced next month. What is the estimated total cost for this operation (to the nearest whole number)?

An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation.

1. Compute b₁ and b₀ (to 1 decimal).
   b₁
   b₀
   
   Complete the estimated regression equation (to 1 decimal).
   yhat = ____ + _____ x
   
2. What is the variable cost per unit produced (to 1 decimal)?
   $
   
3. Compute the coefficient of determination (to 3 decimals). Note: report r² between 0 and 1.
   r² =
   
   What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)?
   %
   
4. The company's production schedule shows 500 units must be produced next month. What is the estimated total cost for this operation (to the nearest whole number)?

Presidio, Inc. produces one model of mountain bike. Partial information for the company follows:

Required:
1. Complete Presidio’s cost data table. (Round your Cost per Unit answers to 2 decimal places.)
Bikes Produced and sold 470 units 850 units 1534 units

Total cost .

Variable cost . 150400   

fixed per yer ____ _____ ______

total costs ____-_ . _____ . ______

cost per unit

variable cost per unit ______ _______ ______

fixed cost per unit _____ ______ ____________

total cost per unit _______ 540.00_ ___________


2. Calculate Presidio’s contribution margin ratio and its total contribution margin at each sales level indicated in the cost data table assuming the company sells each bike for $610. (Round your Margin Ratio percentage answers to 2 decimal places (i.e. .1234 should be entered as 12.34%.))



3. Calculate net operating income (loss) at each of the sales levels assuming a sales price of $610.(Round your answers to the nearest whole dollar amount.)

rev: 02_08_2017_QC_CS-78107