The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2020. All materials are added at the beginning of the process.

Prepare a production cost report for the Welding Department for the month of February. (Round unit costs to 2 decimal places, e.g. 2.25 and all other answers to 0 decimal places, e.g. 1,225.)

a) Complete the following cost schedule by computing average fixed cost and average variable cost.

Instructions: Enter your responses rounded to the nearest whole number.

You are a meeting planner who was just contacted by an out of town client to produce and “Indy 500” high roller party for 500 VIPs at the Sheraton Desert Inn. You are purchasing a band for $3,000. You are estimating your racing flag centerpiece cost (material and labor) to be $20 per table (50 tables). You are renting black and white checked scupltchair covers ($4.95) from a local linen company that will install the covers. You are estimating your dragster car rental fees to be $850.00. You estimate the lights will cost you $1,200, sound will cost you $1,500, and staging will cost you $700.00. All other pieces of the room décor will cost approximately $1,800 for the room décor. You are paying a cost of $400.00 for maintenance and storage for the décor. Your environmental entertainers include two Las Vegas showgirls, four roller blade girls and/or boys, and two pit-crew members, costing you $300.00 each. Each environmental performer will need to be costumed. You are renting the costumes from Williams Costume Shop at $65 per costume. You estimate your tech labor to cost $900.00 You are charging your client a markup of 20% of the estimated charges. After the event: The client had accepted estimated costs as well as your 20% markup. The client had paid you half of the bill as a deposit, and the other half the day of the event. It is now time for you to calculate how much profit you made and compare it to the amount of profit you originally estimated. As you can imagine, the actual profit is not going to be equal to the estimated profit because things change, and mistakes are made during the forecasting process. For instance, the following changes occurred after you submitted your bid to the CEO: The linen company neglected to inform you of the additional $1.50-per-chair installation cost The showgirls cost you $450 each The labor cost was $800. Williams costume shop raised the price of their costumes to $80 apiece However, the showgirl costumes are $150 apiece Lights were $1,100. A $100 pick-up and delivery fee was added to the dragster car rental cost. All other costs were as estimated. Use the following worksheet to calculate the: (B) markup based on estimated total client costs, (C) estimated total client costs, not including markup, (D) actual total client costs, including markup, and € the variance between the estimated total client costs plus markup and actual total clients costs,] including markup ([B+C] – D. Create a spreadsheet a spreadsheet for this analysis.)

A - Description

B- Markup

C- Estimated Total Client Cost

D- Actual Total Client Cost

E - Variance

102 Environmental (Need B, C, D, and E amounts)

200 Decor (Need B, C, D, and E amounts)

Ferris Company began January with 7,000 units of its principal product. The cost of each unit is $6. Merchandise transactions for the month of January are as follows:

* Includes purchase price and cost of freight.

10,000 units were on hand at the end of the month.

Calculate January's ending inventory and cost of goods sold for the month using FIFO, perpetual system.

Production Inc. uses activity based costing. The following estimated activity costs are identified in the table below. In addition, they have two product lines, A100 and B100.

Calculate the unit cost for the two products, A100 and B100.
Do not enter dollar signs or commas in the input boxes.
Round Activity Rate to 2 decimal places. Round all other answers to the nearest whole number.

XYZ Company is using job costing system. The allocation base for overhead is number of machine hours. The company uses normal costing to compute the overhead allocation rate.

The following data are available for 2017 year:

Estimated total overhead cost                               $270,000

Estimated total number of machine-hours           200,000

Actual total overhead cost                                     $290,000

Actual total number of machine-hours                 220,000

            Job 630 used 14, 000 machine hours.

            The company had job 630 and other jobs during the year.

a.   Calculate the estimated overhead allocation rate.

b.   Compute the overhead allocated to job 630.

c.   Calculate total allocated overhead and analyze the value of allocated overhead.

d.   Explain the Concept of Job Costing?

Bullseye Company manufactures dartboards. Its standard cost information follows:

Bullseye has the following actual results for the month of September:

Required:
1. Calculate the direct materials price, quantity, and total spending variances for Bullseye.
2. Calculate the direct labor rate, efficiency, and total spending variances for Bullseye.
3. Calculate the variable overhead rate, efficiency, and total spending variances for Bullseye.

Acc105

Chapter 11 - Cost Behavior ( discussion board):

Please provide your thoughts on this simple example of cost behavior and then add an example of your own.

What do you typically pay for a large pizza? (There is no right or wrong price - just pick a reasonable price)
What would be the cost per student if two students buy that pizza?
What if four students buy a large pizza?
What does this illustrate about why average fixed costs change on a per-unit basis?

Let's add the fact that a beverage costs $1 and each student eating the pizza has one beverage. So, if two people were eating the pizza, the total beverage bill would come to $2; if four people, $4. The cost per beverage remains the same, but the total cost depends on the number of people ordering a beverage.
What does this tell us about how total variable costs vary per units (or in this case students)?

Please provide another basic example of cost behavior (related to fixed or variable).

Acc105

Chapter 11 - Cost Behavior ( discussion board):

Please provide your thoughts on this simple example of cost behavior and then add an example of your own.

What do you typically pay for a large pizza? (There is no right or wrong price - just pick a reasonable price)
What would be the cost per student if two students buy that pizza?
What if four students buy a large pizza?
What does this illustrate about why average fixed costs change on a per unit basis?

Let's add the fact that a beverage costs $1 and each student eating the pizza has one beverage. So, if two people were eating the pizza, the total beverage bill would come to $2; if four people, $4. The cost per beverage remains the same, but the total cost depends on the number of people ordering a beverage.
What does this tell us about how total variable costs vary per units (or in this case students)?

Please provide another basic example of cost behavior (related to fixed or variable).

Verde Company reported operating costs of $40,000,000 as of December 31, 20x5, with the following environmental costs:

Required:

1. Prepare an environmental cost report, classifying costs by quality category and expressing each as a percentage of total operating costs. Round percentages to two decimal places, if rounding is required. For example, 5.79% would be entered as "5.79".

2. What if Verde deliberately did not include the cost of damaging the ecosystem because of solid waste disposal in its environmental cost report? What is the most likely reason?