The following information is taken from the accounting records of four different companies. Provide the missing amounts. Assume there are no indirect materials used in the company’s finished product.

The following information is taken from the accounting records of four different companies. Provide the missing amounts. Assume there are no indirect materials used in the company’s finished product.

Hails Corporation manufactures two products: Product Q21F and Product H44W. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Q21F and H44W.

Using the ABC system, the percentage of the total overhead cost that is assigned to Product Q21F is closest to:

1.C++ uses the_______________symbol to represent the AND operator.

2.The switch statement uses the value of a(n) _____________expression to determine which group of statements to branch through.

3.C++ allows the programmer to compare numeric values using ________________________

4.The local t-shirt shop sells shirts that retail for $12. Quantity dis-counts are given as follow:

Number of Shirts Discount

5–10                    10%

11–20                   15%

21–30                   20%

31 or more           25%

Write a program that prompts the user for the number of shirts required and then computes the total price. Make sure the program accepts only nonnegative input.

Use the following sample runs to guide you:

Sample Run 1:

How many shirts would you like ?

4

The cost per shirt is $12 and the total cost is $48

Sample Run 2:

How many shirts would you like ?

0 The cost per shirt is $12 and the total cost is $0

You are given the following information:

1. Find the break-even quantity and the total cost at the break-even point.
2. If the requirement is 75000 units, is it more cost-effective for the firm to buy or make the components? What is the cost savings for choosing the cheaper option?

Decision Making – Equipment Replacement

Mathews manages an assembly facility of Orthom Scientific. A supplier approaches Mathews about replacing a large piece of manufacturing equipment that Orthom uses in its process with a more efficient model. While the supplier made some compelling arguments in favor of replacing the 3-year-old equipment, Mathews is hesitant. Mathews is hoping to be promoted next year to manager of the larger plant near Orthom’s headquarters, and he knows that the accrual-basis net operating income of the assembly plant he manages will be evaluated closely as part of the promotion decision. The following information is available concerning the equipment replacement decision:

The historic cost of the old machine is $600,000. It has a current book value of $240,000, two remaining years of useful life, and a market value of $144,000. Annual depreciation expense is $120,000. It is expected to have a salvage value of $0 at the end of its useful life.

The new equipment will cost $360,000. It will have a 2-year useful life and a $0 salvage value. Orthom uses straight-line depreciation on all equipment.

The new equipment will reduce electricity costs by $70,000 per year and will reduce direct manufacturing labor costs by $60,000 per year.

For simplicity, ignore income taxes and the time value of money.

Required:

Assume that Mathews’ priority is to receive the promotion and he makes the equipment replacement decision based on next year’s accrual-based net operating income. Which alternative would he choose? Show your calculations.

What are the relevant factors in the decision? Which alternative is in the best interest of the company over the next 2 years? Show your calculations.

At what cost would Mathews be willing to purchase the new equipment? Explain.

Ruxton Company had 600 units in inventory at the beginning of November, each assigned a $10 unit cost.

Ruxton also made the following purchases of inventory and sales of inventory during November.

Purchases during November                                             Sales in November              

Nov.    6          175 units at $11              November        4          375 units sold for $20

            14       250 units at $12                                    8          200 units sold for $20

            16        500 units at $13                                    17        400 units sold for $20

            28        325units at $14                                     24        320 units sold for $20

Alternate presentation of above information

Instructions

Compute the April 30 ending inventory and April cost of goods sold as well as the amount of reported gross profit under the different cost flow assumptions and inventory tracking systems.

Provide appropriate supporting calculations, SHOWN on provided supporting work paper, clearly labeled and legible.

* Make sure that: Ending inventory + Cost of goods sold = Total cost of goods available for sale

**This column is GROSS PROFIT that would be reported based on the cost of goods sold determined for each costing scenario and total sales determined from information given above.

IN C++

7.22 LAB*: Program: Online shopping cart (Part 2)

This program extends the earlier "Online shopping cart" program. (Consider first saving your earlier program).

(1) Extend the ItemToPurchase class per the following specifications:

• Parameterized constructor to assign item name, item description, item price, and item quantity (default values of 0). (1 pt)
• Public member functions
  • SetDescription() mutator & GetDescription() accessor (2 pts)
  • PrintItemCost() - Outputs the item name followed by the quantity, price, and subtotal
  • PrintItemDescription() - Outputs the item name and description
• Private data members
  • string itemDescription - Initialized in default constructor to "none"

Ex. of PrintItemCost() output:

Bottled Water 10 @ $1 = $10

Ex. of PrintItemDescription() output:

Bottled Water: Deer Park, 12 oz.

(2) Create three new files:

• ShoppingCart.h - Class declaration
• ShoppingCart.cpp - Class definition
• main.cpp - main() function (Note: main()'s functionality differs from the warm up)

Build the ShoppingCart class with the following specifications. Note: Some can be function stubs (empty functions) initially, to be completed in later steps.

• Default constructor
• Parameterized constructor which takes the customer name and date as parameters (1 pt)
• Private data members
  • string customerName - Initialized in default constructor to "none"
  • string currentDate - Initialized in default constructor to "January 1, 2016"
  • vector < ItemToPurchase > cartItems
• Public member functions
  • GetCustomerName() accessor (1 pt)
  • GetDate() accessor (1 pt)
  • AddItem()
    • Adds an item to cartItems vector. Has parameter ItemToPurchase. Does not return anything.
  • RemoveItem()
    • Removes item from cartItems vector. Has a string (an item's name) parameter. Does not return anything.
    • If item name cannot be found, output this message: Item not found in cart. Nothing removed.
  • ModifyItem()
    • Modifies an item's description, price, and/or quantity. Has parameter ItemToPurchase. Does not return anything.
    • If item can be found (by name) in cart, check if parameter has default values for description, price, and quantity. If not, modify item in cart.
    • If item cannot be found (by name) in cart, output this message: Item not found in cart. Nothing modified.
  • GetNumItemsInCart() (2 pts)
    • Returns quantity of all items in cart. Has no parameters.
  • GetCostOfCart() (2 pts)
    • Determines and returns the total cost of items in cart. Has no parameters.
  • PrintTotal()
    • Outputs total of objects in cart.
    • If cart is empty, output this message: SHOPPING CART IS EMPTY
  • PrintDescriptions()
    • Outputs each item's description.

Code:

#include <iostream>

#include <string>

#include "ItemToPurchase.h"

using namespace std;

//main

int main()

{

//Declare two objects

ItemToPurchase p1,p2;

string myName;

int myPrice,myQuant;

//Get item1 details

cout<<"Item 1"<<endl;

cout<<"Enter the item name:";

getline(cin,myName);

cout<<"Enter the item price:";

cin>>myPrice;

cout<<"Enter the item quantity:";

cin>>myQuant;

p1.SetName(myName);

p1.SetPrice(myPrice);

p1.SetQuantity(myQuant);

cin.ignore();

//Get item2 details

cout<<"\nItem 2"<<endl;

cout<<"Enter the item name:";

getline(cin,myName);

cout<<"Enter the item price:";

cin>>myPrice;

cout<<"Enter the item quantity:";

cin>>myQuant;

p2.SetName(myName);

p2.SetPrice(myPrice);

p2.SetQuantity(myQuant);

//print total cost

cout<<"\nTOTAL COST"<<endl;

cout<<p1.GetName()<<" "<<p1.GetQuantity()<<" @ $"<<p1.GetPrice()<<" = $"<<p1.GetQuantity()*p1.GetPrice()<<endl;

cout<<p2.GetName()<<" "<<p2.GetQuantity()<<" @ $"<<p2.GetPrice()<<" = $"<<p2.GetQuantity()*p2.GetPrice()<<endl;

cout<<"\nTotal: $"<<p1.GetQuantity()*p1.GetPrice()+p2.GetQuantity()*p2.GetPrice()<<endl;

system("pause");

return 0;

}

Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making two products in two different manufacturing plants are as follows. Cutting Department Production Data—July Plant 1 T12-Tables Plant 2 C10-Chairs Work in process units, July 1 0 0 Units started into production 21,600 17,280 Work in process units, July 31 3,240 540 Work in process percent complete 60 80 Cost Data—July Work in process, July 1 $0 $0 Materials 410,400 311,040 Labor 253,152 118,800 Overhead 112,320 113,184 Total $775,872 $543,024 For each plant compute the physical units of production. T12 Tables C10 Chairs Units to be accounted for 21,600.00 17,280.00 For each plant compute equivalent units of production for materials and for conversion costs. Materials Conversion Costs T12 Tables 21,600.00 C10 Chairs 17,280.00 For each plant determine the unit costs of production. (Round unit costs to 2 decimal places, e.g. 5.25.) Materials Conversion Costs Total Costs Unit costs-T12 Tables $ $ $ Unit costs-C10 Chairs $ $ $ For each plant show the assignment of costs to units transferred out and in process. T12 Tables Costs accounted for: Transferred out $ 18,360.00 Work in process Materials $ Conversion costs Total costs $ C10 Chairs Costs accounted for: Transferred out $ 16,740.00 Work in process Materials $ Conversion costs Total costs $ Prepare the production cost report for Plant 1 for July 2017. THAKIN INDUSTRIES INC. Cutting Department—Plant 1 Production Cost Report For the Month Ended July 31, 2017 Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work in process, July 1 Started into production Total units Units accounted for Transferred out Work in process, July 31 Total units Costs Materials Conversion Costs Total Unit costs Total Costs $ $ $ Equivalent units Unit costs $ $ $ Costs to be accounted for Work in process, July 1 $ Started into production Total costs $ Cost Reconciliation Schedule Costs accounted for Transferred out $ Work in process, July 31 Materials $ Conversion costs Total costs