1-Define cost Accounting and enlist 10 example of product cost with explanation?

2-Define period cost and enlist 10 examples with explanation?

3-Define variable cost, fixed cost and mixed cost and enlist 10 examples of each category with explanation?

4-Define Sunk cost and opportunity cost and enlist 10 examples of each cost with explanation?

5- develop one numerical question from yourself and then find variable cost, fixed cost and total cost by using equation (Y=a + bx) with high low method (each student question must be different otherwise it will not be considered?

Texas Co. established the following overhead cost pools and cost drivers: Budgeted Estimated Overhead Cost Pool Overhead Cost Driver Cost Driver Level Quality controls $780,000 # of inspections 26,000 inspections Machine setups $720,000 # of setups 12,000 setups Other overhead costs $900,000 # of machine hrs 50,000 machine hrs Total overhead costs $2,400,000 A recent order for sailboats used: Quality inspections 750 inspections Machine setups 500 setups Machine hours (MHs) 2,400 machine hours Required: a. What is the overhead rate per machine hour if the number of machine hours (MHs) is used as a single cost driver under traditional costing system?

b. Utilizing traditional costing, how much overhead is assigned to the order based on machine hours as a single cost driver?

c. Utilizing ABC, how much total overhead is assigned to the order?

1. In the following market,

1. Fill the column for marginal product. Can you explain diminishing marginal product based on those numbers?
2. A worker cost $45 a day, and the firm has fixed cost of $80. Use this information to fill in the column for total cost.
3. Fill in the column for average total cost.
4. Fill the column for the marginal cost.
5. Compare the column for average total cost and the column for marginal cost. Explain the relationship.

vompany need to decide .a
initial cost -225000000
annual operations cost -30000000
maintenance cost 50000000
estimated life in years -infinite
and b option

inital ckst - 350000000
annual depreciation cost 6000000
maintenance cost
per every 20 ysars 30000000 .estimated life - infinite

marr is 7%

which option you would recommend

Discuss why managers estimate a cost function?
suppose actual cost are higher than estimated cost. Analyze why you may have this difference between actual and estimated costs?

Question 2

Draw the marginal cost (MC), average variable cost (AVC) and average total cost (ATC) curves for a typical firm in a diagram, and briefly explain the relationship between:

a. AVC and ATC.

b. MC and ATC.

Give a brief summary of each and explain why they are the most important

Benefit 3 A higher minimum wage could reduce government welfare spending. If low-income workers earned more money, their dependence on, and eligibility for, government benefits would decrease. The Center for American Progress reported in 2014 that raising the federal minimum wage by 6% to $10.10 would reduce spending on the Supplemental Nutrition Assistance Program (SNAP, formerly known as food stamps) by 6% or $4.6 billion. [9] The Economic Policy Institute determined that by increasing the minimum wage to $10.10, more than 1.7 million Americans would no longer be dependent on government assistance programs. They report the increase would shave $7.6 billion off annual

Cost 3 Raising the minimum wage would increase the price of consumer goods. A 2013 article by the Federal Reserve Bank of Chicago stated that if the minimum wage is increased, fast-food restaurants would pass on almost 100% of their increased labor costs on to consumers and that other firms may do the same. [2] A 2015  University study found that raising the wage of fast food restaurant employees to $15 or $22 per hour would result in a price increase of 4.3% and 25% respectively, or a reduction in product size between 12% and 70%: "a hamburger would be much smaller," the researchers stated. [53] NBC News found that the price of a cup of coffee went up by 10 to 20% in Oakland, California, after a 36% minimum wage hike in the city to government spending on incomesupport programs. $12.25. The report also found a 6.7% rise in coffee prices in Chicago after the minimum wage rose to $10. [54] The Alberta Hotel and Lodging Association (Canada) found that a "sudden and significant increase to the minimum wage" would result in "[i]ncreased prices for food & beverage, guest rooms and meeting facilities." [55]

1- A is Trading and Tourism Company.
2- B is the owner of a Building


A interred with B in to an investment Contract where A will take the building as investment which is owned by B and will turn to Hotel. It was agreed that, A prior to invest will take the approval from B on the plans and drawings. A sent the plans and the drawing to B for his approval. It was agreed that within a week if there were no answer from any of the parties on the correspondences of the other for any approval, therefore, it would mean that approval has been granted. A has started to do all the changes according to the plans and the drawings after a week from sending the plans. After a month A has received the reply from B with changes made in the plans and drawings. A has ignored the reply and continue the changes according to his plans. B was not happy and has demanded A to stop the work in the building and deliver the building at the same conditions he received it. A has replied to B that he has invested in the building according to the contract and if he wants the building back he has to pay the cost of his investments and the remedies of the damages that he has incurred. B has refused his demands and asked A to pay for all the repairs and damages caused to his building.
You have been contacted as mediator between the A and B Please answer the following:

1. What kind of relation between A and B?
2. Identify the responsibility for both parties and their civil rights.
3. What is the real problem between the two parties?
4. Does B have the right to stop work in the building and does A have the right to ignore B’s changes in the plans?
5. What action A should take to make B accept the plans and drawings and to finish the work?
6. In your conclusion, you should provide a good solution for A and B to continue to work together without going to litigation.

Problem 12-26 Simple Rate of Return; Payback [LO12-1, LO12-6]

Sharkey’s Fun Center contains a number of electronic games as well as a miniature golf course and various rides located outside the building. Paul Sharkey, the owner, would like to construct a water slide on one portion of his property. Mr. Sharkey gathered the following information about the slide:

1. Water slide equipment could be purchased and installed at a cost of $360,000. According to the manufacturer, the slide would be usable for 12 years after which it would have no salvage value.
2. Mr. Sharkey would use straight-line depreciation on the slide equipment.
3. To make room for the water slide, several rides would be dismantled and sold. These rides are fully depreciated, but they could be sold for $97,500 to an amusement park in a nearby city.
4. Mr. Sharkey concluded that about 50,000 more people would use the water slide each year than have been using the rides. The admission price would be $3.90 per person (the same price the Fun Center has been charging for the old rides).
5. Based on experience at other water slides, Mr. Sharkey estimates that annual incremental operating expenses for the slide would be: salaries, $84,000; insurance, $4,700; utilities, $13,500; and maintenance, $10,300.

Required:

1. Prepare an income statement showing the expected net operating income each year from the water slide.

2-a. Compute the simple rate of return expected from the water slide.

2-b. Based on the above computation, would the water slide be constructed if Mr. Sharkey requires a simple rate of return of at least 13% on all investments?

3-a. Compute the payback period for the water slide.

3-b. If Mr. Sharkey accepts any project with a payback period of five years or less, would the water slide be constructed?

Sharkey’s Fun Center contains a number of electronic games as well as a miniature golf course and various rides located outside the building. Paul Sharkey, the owner, would like to construct a water slide on one portion of his property. Mr. Sharkey gathered the following information about the slide:

1. Water slide equipment could be purchased and installed at a cost of $330,000. According to the manufacturer, the slide would be usable for 12 years after which it would have no salvage value.
2. Mr. Sharkey would use straight-line depreciation on the slide equipment.
3. To make room for the water slide, several rides would be dismantled and sold. These rides are fully depreciated, but they could be sold for $92,000 to an amusement park in a nearby city.
4. Mr. Sharkey concluded that about 50,000 more people would use the water slide each year than have been using the rides. The admission price would be $3.70 per person (the same price the Fun Center has been charging for the old rides).
5. Based on experience at other water slides, Mr. Sharkey estimates that annual incremental operating expenses for the slide would be: salaries, $82,000; insurance, $4,500; utilities, $13,300; and maintenance, $10,100.

Required:

1. Prepare an income statement showing the expected net operating income each year from the water slide.

2-a. Compute the simple rate of return expected from the water slide.

2-b. Based on the above computation, would the water slide be constructed if Mr. Sharkey requires a simple rate of return of at least 14% on all investments?

3-a. Compute the payback period for the water slide.

3-b. If Mr. Sharkey accepts any project with a payback period of five years or less, would the water slide be constructed?