A monopolist faces the following demand curve, marginal revenue curve, total cost curve and marginal cost curve for its product: Q = 200 - 2P MR = 100 - Q TC = 5Q MC = 5 a. What is the profit maximizing level of output? (10 pts.) b. What is the profit maximizing price? (8 pts.) c. How much profit does the monopolist earn? (10 pts.)Immersive Reader (28 Points)  

Suppose that class OrderList has a private attribute double cost[100] which hold the cost of all ordered items, and a private attributes int num_of_items which hold the number of items ordered. For example, if num_of_items is 5, then cost[0], cost[1], ..., cost[4] hold the cost of these 5 items. Implement the member function named total_cost which returns the total cost of this OrderList.

Teal Mountain Inc. accumulates the following cost and market data at December 31. Inventory Categories Cost Data Market Data Cameras $10,252 $11,362 Camcorders 8,074 8,774 DVDs 10,987 9,547 Compute the lower-of-cost-or-market valuation for company’s inventory. The lower-of-cost-or-market value $

A unit product cost includes:

Multiple Choice

• Actual direct labor cost used by the job.

• Estimated nonmanufacturing cost allocated to the job.

• Actual nonmanufacturing cost allocated to the job.

• Actual manufacturing overhead cost used by the job.

Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2

Beck Manufacturing reports the information below for 2017.

Required:
1. Prepare the schedule of cost of goods manufactured for the year.
2. Compute cost of goods sold for the year.

Part 1

Part 2

Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 2,000 units of medical tablets are as follows:

Willis Products desires a profit equal to a 25% rate of return on invested assets of $116,560.

a. Determine the total manufacturing costs for the production and sale of 2,000 units.

Determine the cost amount per unit for the production and sale of 2,000 units.
$ per unit

b. Determine the product cost markup percentage per unit. Round your percentage answer to one decimal place.
%

c. Determine the selling price per unit. Use the rounded product cost markup percentage in your calculations, and round the amount of the markup to the nearest whole dollar.
$ per unit

Edney Company employs a standard cost system for product costing. The per-unit standard cost of its product is:

The manufacturing overhead rate is based on a normal capacity level of 600,000 direct labor hours. (Normal capacity is defined as the level of capacity needed to satisfy average customer demand over a period of two to four years. Operationally, this level of capacity would take into consideration sales trends and both seasonal and cyclical factors affecting demand.) The firm has the following annual manufacturing overhead budget:

Edney incurred $435,950 in direct labor cost for 54,800 direct labor hours to manufacture 26,000 units in November. Other costs incurred in November include $338,000 for fixed manufacturing overhead and $373,500 for variable manufacturing overhead.

Required:

1. Determine each of the following for November. [Note: Indicate whether each variance is favorable (F) or unfavorable (U).]

a. The variable overhead spending variance.

b. The variable overhead efficiency variance.

c. The fixed overhead spending (budget) variance.

d. The fixed overhead production volume variance.

e. The total amount of under- or overapplied manufacturing overhead (i.e., the total manufacturing overhead cost variance for the period).

In the book Advanced Managerial Accounting, Robert P. Magee discusses monitoring cost variances. A cost variance is the difference between a budgeted cost and an actual cost. Magee describes the following situation:

Michael Bitner has responsibility for control of two manufacturing processes. Every week he receives a cost variance report for each of the two processes, broken down by labor costs, materials costs, and so on. One of the two processes, which we'll call process A , involves a stable, easily controlled production process with a little fluctuation in variances. Process B involves more random events: the equipment is more sensitive and prone to breakdown, the raw material prices fluctuate more, and so on.

     "It seems like I'm spending more of my time with process B than with process A," says Michael Bitner. "Yet I know that the probability of an inefficiency developing and the expected costs of inefficiencies are the same for the two processes. It's just the magnitude of random fluctuations that differs between the two, as you can see in the information below."

     "At present, I investigate variances if they exceed $2,931, regardless of whether it was process A or B. I suspect that such a policy is not the most efficient. I should probably set a higher limit for process B."

The means and standard deviations of the cost variances of processes A and B, when these processes are in control, are as follows: (Round final answers to 4 decimal places.):

Furthermore, the means and standard deviations of the cost variances of processes A and B, when these processes are out of control, are as follows:

(a) Recall that the current policy is to investigate a cost variance if it exceeds $2,931 for either process. Assume that cost variances are normally distributed and that both Process A and Process B cost variances are in control. Find the probability that a cost variance for Process A will be investigated. Find the probability that a cost variance for Process B will be investigated. Which in-control process will be investigated more often.

   (Click to select)  Process A  Process B  is investigated more often

(b) Assume that cost variances are normally distributed and that both Process A and Process B cost variances are out of control. Find the probability that a cost variance for Process A will be investigated. Find the probability that a cost variance for Process B will be investigated. Which out-of-control process will be investigated more often.

(Click to select)  Process A  Process B  is investigated more often.

(c) If both Processes A and B are almost always in control, which process will be investigated more often.

(Click to select)  Process A  Process B  will be investigated more often.

(d) Suppose that we wish to reduce the probability that Process B will be investigated (when it is in control) to .2877. What cost variance investigation policy should be used? That is, how large a cost variance should trigger an investigation? Using this new policy, what is the probability that an out-of-control cost variance for Process B will be investigated?

actual sales : 8500 unit
variable cost actual $ 188.800
fixed cost actual $ 71.200
sales price $ 31,00
sales budget : 9000 unit.
Variable cost standar perunit $ 21,8
Fixed cost budget $ 70.000

Questions

1. Static budget variances.
2. Sales activity variances.
3. Using a flexible budget at the actual activity level, calculate the contribution margin budget, the profit budget, and the flexible budget variant.

Discuss how cost allocation or transfer pricing and activity-base cost applies to banking industry and financial institution. Once you have identified the subject of interest, your post should focus on an assessment of the situation. What do you believe are the key issues? If there are problems, what solutions do you see? If this is a post that illustrates a successful resolution of a challenge, how was this success achieved?