Baird Electronics produces video games in three market categories: commercial, home, and miniature. Baird has traditionally allocated overhead costs to the three products using the companywide allocation base of direct labor hours. The company recently implemented an ABC system when it installed computer-controlled assembly stations that rendered the traditional costing system ineffective. In implementing the ABC system, the company identified the following activity cost pools and cost drivers:

     
Additional data for each of the product lines follow:     

    
Required

1. Determine the total cost and cost per unit for each product line, assuming that overhead costs are allocated to each product line using direct labor hours as a companywide allocation base. Also determine the combined cost of all three product lines.

2. Determine the total cost and cost per unit for each product line, assuming that an ABC system is used to allocate overhead costs. Determine the combined cost of all three product lines.

(For all requirements, round intermediate calculations for allocation rates to 2 decimal places and all other calculations to the nearest whole dollar. Round "Cost per Unit" to 2 decimal places. Round your answers for "Total Cost" to the nearest whole dollar amount.)

Baird Electronics produces video games in three market categories: commercial, home, and miniature. Baird has traditionally allocated overhead costs to the three products using the companywide allocation base of direct labor hours. The company recently implemented an ABC system when it installed computer-controlled assembly stations that rendered the traditional costing system ineffective. In implementing the ABC system, the company identified the following activity cost pools and cost drivers:

     
Additional data for each of the product lines follow:     

    
Required

1. Determine the total cost and cost per unit for each product line, assuming that overhead costs are allocated to each product line using direct labor hours as a companywide allocation base. Also determine the combined cost of all three product lines.

2. Determine the total cost and cost per unit for each product line, assuming that an ABC system is used to allocate overhead costs. Determine the combined cost of all three product lines.

(For all requirements, round intermediate calculations for allocation rates to 2 decimal places and all other calculations to the nearest whole dollar. Round "Cost per Unit" to 2 decimal places. Round your answers for "Total Cost" to the nearest whole dollar amount.)

Required information

Exercise 5A-2 Least-Squares Regression [LO5-11]

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

Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of it car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled:

Exercise 5A-2 Part 2

2. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars.

Lexington Company produces baseball bats and cricket paddles. It has two departments that process all products. During July, the beginning work in process in the cutting department was half completed as to conversion, and complete as to direct materials. The beginning inventory included $40,000 for materials and $60,000 for conversion costs. Ending work-in-process inventory in the cutting department was 40% complete. Direct materials are added at the beginning of the process.

Beginning work in process in the finishing department was 80% complete as to conversion. Direct materials for finishing the units are added near the end of the process. Beginning inventories included $24,000 for transferred-in costs and $28,000 for conversion costs. Ending inventory was 30% complete. Additional information about the two departments follows:

Calculate the Cost per equivalent unit for the Finishing department, for Direct Materials,
Convesion Costs and Transferred in costs, using the FIFO method

1.Which of the following would be classified as a product-level activity?

A. Setting up a machine for a batch of a standard product.

B. Operating a cafeteria for employees.

C. Running the Human Resource department.

D. Advertising a product.

2.The plant manager's work is an example of a:

A.Unit-level activity.

B.Batch-level activity.

C.Product-level activity.

D. Facility-level activity.                                                                                                                                                           

3.In activity-based costing, the activity rate for an activity cost pool is computed by dividing the total overhead cost in the activity cost pool by:

A.the direct labor-hours required by the product.

B.the machine-hours required by the product.

C.the total activity for the activity cost pool.

D.the total direct labor-hours for the activity cost pool.

Alicia’s Apple Pies is a roadside business. Alicia must pay $9.00 in rent each day. In addition, it costs her $1.00 to produce the first pie of the day, and each subsequent pie costs 50% more to produce than the one before. For example, the second pie costs $1.00 × 1.5 = $1.50 to produce, and so on.

1. Calculate Alicia’s marginal cost, variable cost, average total cost, average variable cost, and average fixed cost as her daily pie output rises from 0 to 6. (Hint: The variable cost of two pies is just the marginal cost of the first pie, plus the marginal cost of the second, and so on.)

2. Indicate the range of pies for which the spreading effect dominates and the range for which the diminishing returns effect dominates.

3. What is Alicia’s minimum - cost output? Explain why making one more pie lowers Alicia’s average total cost when output is lower than the minimum - cost output. Similarly, explain why making one more pie raises Alicia’s average total cost when output is greater than the minimum - cost output.

16. In pure competition, price is determined where the market

A. Demand and supply curves intersect

B. Total cost is less than total revenue.

C. Average total cost equals total variable cost.

D. Demand intersects the individual firm's marginal cost curve.

20.  Long-run competitive equilibrium

A. Is realized only in constant-cost industries.

B. Is not economically efficient

C. Will never change once it is realized

D. Results in zero economic profit.

21. Marginal product is

A. The change in total revenue attributable to the employment of one more worker.

B. The change in total output attributable to the employment of one more worker.

C. Total product divided by the number of workers employed.

D. The change in total cost attributable to the employment of one more worker

24. Oligopoly is more difficult to analyze than other market models because

A. of mutual interdependence and the fact that oligopoly outcomes are less certain than in other market models

B. The marginal cost and marginal revenue curves of an oligopolist play no part in the determination of equilibrium price and quantity.

C. unlike the firms of other market models, it cannot be assumed that oligopolists are profit maximizers.

D. the number of firms is so large that market behavior cannot be accurately predicted.

30. The demand curve confronted by the individual, purely competitive firm is

A. Perfectly inelastic

B. Relatively elastic, that is, the elasticity coefficient is greater than unity

C. Relatively inelastic, that is, the elasticity coefficient is less than unity.

D. Perfectly elastic.

35. The short run is characterized by

A. Zero fixed costs.

B. Plenty of time for firms to either enter or leave the industry.

C. Fixed plant capacity.

D. Increasing but not diminishing returns.

Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 5,600 units of product were as follows:

Each unit requires 0.25 hour of direct labor.

Required:

a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

c. Determine variable factory overhead controllable variance, the fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Accounting thx pls

Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 6,400 units of product were as follows:

Each unit requires 0.25 hour of direct labor.

Required:

a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

c. Determine variable factory overhead controllable variance, the fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

Hiram’s Lakeside is a popular restaurant located on Lake Washington in Seattle. The owner of the restaurant has been trying to better understand costs at the restaurant and has hired a student intern to conduct an activity-based costing study. The intern, in consultation with the owner, identified three major activities and then completed the first-stage allocations of costs to the activity cost pools. The results appear below. Activity Cost Pool Activity Measure Total Cost Total Activity Serving a party of diners Number of parties served $ 13,570 5,900 parties Serving a diner Number of diners served $ 108,800 12,800 diners Serving drinks Number of drinks ordered $ 27,250 10,900 drinks The above costs include all of the costs of the restaurant except for organization-sustaining costs such as rent, property taxes, and top-management salaries. Some costs, such as the cost of cleaning the linens that cover the restaurant's tables, vary with the number of parties served. Other costs, such as washing plates and glasses, depend on the number of diners served or the number of drinks served. Prior to the activity-based costing study, the owner knew very little about the costs of the restaurant. She knew that the total cost for the month (including organization-sustaining costs) was $180,000 and that 12,000 diners had been served. Therefore, the average cost per diner was $15. Required: 1&2. According to the activity-based costing system, what is the total cost and average cost per diner for serving each of the following parties of diners?

Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 70,000 units of product were as follows:

Each unit requires 0.25 hour of direct labor.

Required:

a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

b. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.

c. Determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.