Erin Company's inventory at December 1 and the costs charged to Work in Process—Department B during December are as follows:

During December, all direct materials are transferred from Department A, the units in process at December 1 were completed, and of the 26,000 units entering the department, all were completed except 1,000 units that were 70% completed as to conversion costs. Inventories are costed by the first-in, first-out method.

Prepare a cost of production report for December.

Round your cost per equivalent unit amounts to two decimal places. Round all other amounts to the nearest dollar. If an amount value is zero enter "0" as answer.

Eliezrie, Inc., manufactures and sells two products: Product G8 and Product O0. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below:

The direct labor rate is $23.00 per DLH. The direct materials cost per unit for each product is given below:

The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:

Which of the following statements concerning the unit product cost of Product G8 is true? (Round your intermediate calculations to 2 decimal places.)

• a) The unit product cost of Product G8 under traditional costing is less than its unit product cost under activity-based costing by $175.94.

• b) The unit product cost of Product G8 under traditional costing is less than its unit product cost under activity-based costing by $296.02.

• c) The unit product cost of Product G8 under traditional costing is greater than its unit product cost under activity-based costing by $296.02.

• d) The unit product cost of Product G8 under traditional costing is greater than its unit product cost under activity-based costing by $175.94.

Eliezrie, Inc., manufactures and sells two products: Product G8 and Product O0. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below:

The direct labor rate is $23.90 per DLH. The direct materials cost per unit for each product is given below:

The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:

Which of the following statements concerning the unit product cost of Product G8 is true? (Round your intermediate calculations to 2 decimal places.)

rev: 03_25_2018_QC_CS-119201

Multiple Choice

• The unit product cost of Product G8 under traditional costing is less than its unit product cost under activity-based costing by $141.79.

• The unit product cost of Product G8 under traditional costing is less than its unit product cost under activity-based costing by $261.87.

• The unit product cost of Product G8 under traditional costing is greater than its unit product cost under activity-based costing by $261.87.

• The unit product cost of Product G8 under traditional costing is greater than its unit product cost under activity-based costing by $141.79.

Greenwood Company manufactures two products—14,000 units of Product Y and 6,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z:

1.  Using the ABC system, how much total manufacturing overhead cost would be assigned to Product Z?

2. Using the plantwide overhead rate, what percentage of the total overhead cost is allocated to Product Y and Product Z?

3. Using the ABC system, what percentage of the Machining costs is assigned to Product Y and Product Z?

4. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z?

5. Using the ABC system, what percentage of the Product Design cost is assigned to Product Y and Product Z?

6. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product Z?

Suppose that the typical firm in the perfectly competitive silk scarf market has a long run average

total cost curve that attains its minimum value at q=50 and at an average total cost of $25. The typical

firm’s average variable costs are minimized at q=25 and an average variable cost of $15. The market

demand for silk scarves is: QD = 10,000 – 100P. In a long run market equilibrium, how many firms

will there be?

A. N* = 300

B. N* = 150

C. N* = 50

D. N* = 0

E. N* = 100

Assume all fixed costs are sunk. The short run supply curve for a perfectly competitive firm is

A. the portion of its short run marginal cost curve that lies above its short run average total cost

curve.

B. the portion of its short run marginal cost curve that lies above its average variable cost curve.

C. the portion of the average variable cost curve that lies above its short run marginal cost curve.

D. the portion of its short run marginal cost curve that lies above its average fixed cost curve.

E. the portion of its short run average total cost curve that lies above its short run marginal cost

curve.

32. In which of the following circumstances would a cartel between firms be most likely to work?

A. The coffee market, where the product is standardized and there are a large number of coffee

growers.

B. The market for copper, where there are very few producers and the product is standardized.

C. The automobile industry, where there are few producers but there is great product differentiation.

D. The fast-food market, where there is a large number of producers but the demand for fast food is

inelastic.

E. The market for mozzarella cheese where they are only a few firms with very different marginal

cost structures.

Garrett Toy Company incurred the following costs in April to produce job number TB78, which consisted of 1,000 teddy bears that can walk, talk, and play cards.

Direct Material:
4/1/20x0 Requisition number 101: 300 yards of fabric at $0.80 per yard
4/5/20x0 Requisition number 108: 600 cubic feet of stuffing at $0.20 per cubic foot

Direct Labor:
From employee time cards for 4/1/20x0 through 4/8/20x0: 600 hours at $11.00 per hour

Manufacturing Overhead:
Applied on the basis of direct-labor hours at $2.00 per hour.

Job number TB78 was completed on April 15. On April 30, 600 of the bears were shipped to a local toy store.

Required:
Prepare a job-cost record using the information given above.

Prepare a job-cost record.

Determine the direct material cost. (Round "Unit Price" to 2 decimal places.)

Determine the direct labor cost.

Determine the manufacturing overhead cost.

GARRETT TOY COMPANY

Cost Summary

Cost Item. Amount

Total direct material ?

Total direct labor ?

Total manufacturing overhead. ?

Total cost ?

Unit cost ?

Prepare a Shipping Summary. (Do not round intermediate calculations.)

Eliezrie, Inc., manufactures and sells two products: Product G8 and Product O0. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours Product G8 800 6.0 4,800 Product O0 400 3.0 1,200 Total direct labor-hours 6,000 The direct labor rate is $23.10 per DLH. The direct materials cost per unit for each product is given below: Direct Materials Cost per Unit Product G8 $123.10 Product O0 $123.50 The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Expected Activity Activity Cost Pools Activity Measures Overhead Cost Product G8 Product O0 Total Labor-related DLHs $ 60,555 4,800 1,200 6,000 Machine setups setups 59,390 900 650 1,550 Order size MHs 370,508 5,300 6,100 11,400 $ 490,453 Which of the following statements concerning the unit product cost of Product G8 is true? (Round your intermediate calculations to 2 decimal places.) Multiple Choice A.The unit product cost of Product G8 under traditional costing is greater than its unit product cost under activity-based costing by $171.48. B.The unit product cost of Product G8 under traditional costing is less than its unit product cost under activity-based costing by $171.48. C. The unit product cost of Product G8 under traditional costing is greater than its unit product cost under activity-based costing by $291.56. D. The unit product cost of Product G8 under traditional costing is less than its unit product cost under activity-based costing by $291.56.

For an EOQ ordering quantity of 750 units, an ordering cost of $5 per order, a holding cost of $10 per unit per year, and an annual demand of 900 units, what is the annual total cost for this value of Q?

IN BASIC C#

If It Fits, It Ships! OVERVIEW In this program you will be calculating the total amount the user will owe to ship a rectangular package based on the dimensions and we will add in insurance based on the prices of the items inside of the package.. INSTRUCTIONS: 1. Welcome the user and explain the purpose of the program. 2. In the Main, prompt the user for the width, length and height of their package. a. Each of the 3 variables should be validated and converted. 3. Create a custom function called SortByDimensions a. This function needs 3 parameters: the width, length and height. b. The function will be returning the number of what tier pricing is going to be used. c. Inside of the function, use a series of conditionals and logical operators to determine the tier based on the chart below. d. Return this integer of the matching tier to the main. i. Make sure to catch this in a variable of the correct type. 4. Back in the Main, let the user know what Tier for dimensions the package is. 5. In the Main, prompt the user for a comma separated text string of the prices of each item in the package. a. Remind the user NOT to put in the $. i. I.e. 5.60, 9.99, 10.50 b. Validate that this text string is not left blank. c. Once you have this text string, split about this string into a string array. d. Each element should be one price of an item. TIER # Requirements 1 All dimensions must be 10” and under. 2 Largest of the dimension is between 10” and 48”. 3 Largest of the dimensions is 48” or above. 6. Create a custom function called CalcInsurance. a. This function needs a parameter of the string array of item prices. b. The function will return the cost of the insurance for the package. c. Inside of this function a variable that will hold the total cost of all of the items. d. You will also need a variable to hold the cost of the insurance. e. Loop through the item string array and one at a time, convert each item to a number data type i. Add this price to the variable that holds the total cost. ii. After the loop, you should have a variable that holds the total of all items inside the package. f. Use the chart below to setup a conditional block that will give you the cost of the Insurance for this package. g. Return this cost of insurance to the Main. i. Make sure to catch this in a variable of the correct type. Total Cost of Items In Package Cost Of Insurance $0.00 to and including $10.00 $1.00 Up to $250.00 $5.00 Up to $500.00 $10.00 $500.00 and above $25.00 7. Create a 3rd custom function called TotalShippingCost. a. This function will have 2 parameters: the tier number based on the dimensions and the total cost of the insurance. b. The function will return the total of the shipping cost. c. In the function create a conditional block the will set the shipping base cost. i. This will be based on the chart below. d. Once you have the base price, add in the insurance to create the total shipping cost. e. Return this total for the shipping to the Main. i. Make sure to catch this in a variable of the correct type. 8. Now in the Main you will output to the user the final results. a. It should be in the following format. i. “Your package will cost $X to ship, which includes the $Y insurance price.” 1. Where X is the total cost to ship the package formatted for money and rounded to 2 decimal places. 2. Where Y is the insurance cost formatted for money and rounded to 2 decimal places. TIER # Base Shipping Cost 1 $6.25 2 $15.50 3 $30.00 9. Test, Test, Test a. Test your code at the very least 2 times and put your Test Results in a multi-lined comment at the end of your Main Method. b. Here is one data set that you should test with to make sure your math is correct. i. Package Dimensions: 1. 2. 3. 4. ii. Prices 1. 2. Width = 5 Length = 12 Height =2 For troubleshooting you could check the Tier # is 2. of items in package: 50.50, 25.00, 6.00, 150.00 For troubleshooting you could check the total is 231.50. iii. Final Output should be: 1. “Your package will cost $20.50 to ship, which includes the $5.00 insurance price.” 10. When you are finished zip your whole folder and submit it on FSO.

Use the following information to answer questions 1-15.

Consider a firm that daily rents machinery for the cost of $1000 and employs workers at the cost of $100 for a full day of work. The following table describes the production function of the firm. Fill the table such that you can make some production decisions for this firm.

1. What is the level of production when 10 units of labor are employed?

2. What is the fixed cost of production when 10 units of labor are employed?

3. What is the variable cost of production when 10 units of labor are employed?

4. What is the total cost of production when 10 units of labor are employed?

5. What is the average variable cost of production when 10 units of labor are employed?

6. What is the average total cost of production when 10 units of labor are employed?

7. What is the marginal cost of production when 10 units of labor are employed?

8. What is the minimum amount of workers needed to be employed if the firm were to produce 24 units of the good?

9. At what approximate level of production is the marginal cost of production equal to the average total cost?

10. What would be the firm’s level of production if the price of the good was $60?

11. What would be the firm’s profits at equilibrium if the price of the good was $60?

12. What would be the price of the good if the firm is employing 8 workers at equilibrium?

13. What would be the profit of the firm if the firm is employing 8 workers at equilibrium?

14. What would be the price of the good if the firm is employing 9 workers at equilibrium?

15. What would be the profit of the firm if the firm is employing 9 workers at equilibrium?