make sure to do all parts I'll rate

Grainy Goodness Company manufactures granola cereal by a series of three processes, beginning materials such as oats, sweeteners, and nuts being introduced in the Mixing Department. From the Mixing Department, the materials pass through the Baking and Packaging departments, emerging as boxed granola cereal ready for shipment to retail outlets. Direct materials are added at the beginning of each process, and conversion costs are incurred evenly throughout production in each department.

During March, the President and sole stockholder, Jonathan Groat, reviewed the Cost of Production Report for the Mixing Department. He is concerned that the Mixing Department may not be operating efficiently, and asks for your help.

Chart of Accounts

Cost of Production

1. Jonathan has noticed that his production manager has omitted some of the data on the Cost of Production panel. Determine the missing information. If there is no amount or an amount is zero, enter "0". Round your per-unit computations to the nearest cent, if required.

February Cost Analysis

2. Determine the cost per unit of direct materials and for conversion for the month of February using the completed data on the Cost of Production panel. Round your per-unit computations to the nearest cent, if required.

March Cost Analysis

3. Determine the cost per unit of direct materials and for conversion for the month of March using the completed data on the Cost of Production panel. Round your per-unit computations to the nearest cent, if required.

Mixing Dept. Evaluation

4. After reviewing your work on the February Cost Analysis and March Cost Analysis panels, assist Jonathan Groat in evaluating the Mixing Department’s performance by answering the following questions:

In March, was the Mixing Department’s total cost per unit higher or lower than in February?

No difference

Lower

Higher

For which component(s) was the cost per unit for March higher than in February? Check all that apply.

Conversion costs

Both were higher for March

Direct material costs

What is most probably your recommendation to Jonathan Groat given your computations?

Investigate a detailed breakdown of conversion costs to determine the source of the higher per-unit cost.

Look into creating higher incentives for administrative staff in order to create more effective reporting procedures.

Pay higher commissions to salespeople to spur sales.

Investigate a detailed breakdown of direct materials cost to determine the source of the higher per-unit cost.

Journal

5. On March 31, using the data provided on the panels, journalize the entry to move the appropriate amount of cost from the Mixing Department to the Baking Department. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 15

JOURNAL

ACCOUNTING EQUATION

1. Given some production, the point where the profit-maximizing firm will produce is which of the following?

A. Where marginal cost equal sales

C. Where marginal cost equals marginal revenue

D. Where marginal cost equals average variable cost

B. Where marginal revenue equals average total cost

2. A firm in a perfectly competitive market produces and sells child car seats. The sales price is $600, the total fixed cost is $3,000, and the variable cost is $300 per unit. What is the marginal revenue for the tenth seat sold?

B. $625

C. $600

D. $480

A. $590

3. Dean is a professional golf coach, giving lessons in a perfectly competitive industry. After checking his accounts, his friend Roy (an economist) advises him that he should reduce the number of lessons he gives. What has Roy observed that has led him to this recommendation?

D. The price Dean charges does not cover his average variable costs.

A. Dean’s total cost was greater than his accounting profits.

B. Dean faces an inelastic demand for golf lessons.

C. The price Dean charges does not cover his marginal costs.

4. In perfect competition, the market demand curve is _________ and the individual firm’s demand curve is _________.

D. horizontal; horizontal

B. downward sloping; horizontal

C. horizontal; downward sloping

A. downward sloping; downward sloping

(a) Magnus, a lawyer working for a large firm and earning $60,000 per year is contemplating setting up his own law practice. He estimates that renting an office would cost $10,000 per year, hiring a legal secretary would cost $20,000 per year, renting the required office equipment would cost $15,000 per year and purchasing the required supplies, paying for electricity, telephone and so forth would cost another $5,000. Magnus estimated that his total revenues for the year would be $100,000 and he is indifferent between keeping his present occupation with the large law firm and opening his own law office.

(i) How much would be the explicit cost of Magnus for running his own law office?

(ii) How much would the accounting costs be?

(iii) How much would the implicit cost be?

(iv) How much would the economic costs be?

(v) Should Magnus (the lawyer) go ahead and start his own practice?

(b) A profit maximizing firm in a competitive market is currently producing 50 units of output. It has average revenue of $2, total variable cost of $80 and a total fixed cost of $60. As the manager, you are required to advise management on what to do.

(i) Use a graph to demonstrate the circumstances that would prevail in a competitive market.

(ii) Identify costs, revenue, and the economic losses or profits on your graph.

(iii)Determine whether this firm will shut down, exit or choose to remain in the market.

(iv)Explain your answer.

COST ACCOUNTING

COST OF PRODUCTION SUMMARY: WEIGHTED AVERAGE AND FIFO METHODS

The Company uses a single department production process. Materials are added at the start of the production process and labor and overhead are added as indicated. For January 2015, the Company records have the following information:

UNITS:
Beginning WIP:                                                                                                          10,000 units

100% complete for materials, 50% complete for labor; 30% complete for overhead

Units started in process                                                                                               50,000 units

Units completed                                                                                                          49,000 units

Ending WIP:                                                                                                             11,000 units

100% complete for materials, 60% complete for labor; 20% complete for overhead

PRODUCTION COSTS:

Work in Process, Beginning of the Month:
Materials                                          $ 22,000
Labor                                                   18,000
Overhead                                             11,000                                                          51,000

Current Month Costs:
Materials                                          $ 320,000
Labor                                                   180,160
Overhead                                             152,840                                    653,000

                                    Total Costs:                        $                                  704,000

REQUIRED:

Prepare a Cost of Production Summary using the weighted average method (calculations for equivalent units of production, cost per equivalent unit of production, total cost for units completed and WIP, ending). Prepare your calculations for Materials, Labor, and Overhead separately.

Prepare the appropriate journal entries at month end.

Prepare a Cost of Production Summary using the FIFO method (calculations for equivalent units of production, cost per equivalent unit of production, total cost for WIP, beginning, units started and completed and WIP, ending). Prepare your calculations for Materials, Labor, and Overhead separately.

Prepare the appropriate journal entries at month end.

You need to present your work in an excel spreadsheet and you need to create your own formatting (templates).

Marvin’s Kitchen Supply delivers restaurant supplies throughout the city. The firm adds 10 percent to the cost of the supplies to cover the delivery cost. The delivery fee is meant to cover the cost of delivery. A consultant has analyzed the delivery service using activity-based costing methods and identified four activities. Data on these activities follow:

Cost Driver volume

Activity Cost Driver Cost Driver Volume

Processing order Number of orders $ 126,000 9,000 orders

Loading truck Number of items 340,000 200,000 items

Delivering merchandise Number of orders 153,000 9,000 orders

Processing invoice Number of invoices 136,000 8,000 invoices

Total overhead $ 755,000

Two of Marvin's customers are City Diner and Le Chien Chaud. Data for orders and deliveries to these two customers follow:

City Diner Le Chien Chaud

Order value $ 89,000 $ 99,000

Number of orders 69 310

Number of items 600 1,900

Number of invoices 13 210

a. What would the delivery charge for each customer be under the current policy of 10 percent of order value? (please show work)

    Delivery charge per customer

City dinner ______

Le Chien Chaud _____

b. Calculate the cost of each activity for both restaurants to determine the total activity-based costing estimate of the cost of delivering to each customer. (Do not round intermediate calculations.) ((Please show work))

  City Diner Lechin Chaud

Processing order    _____ _____

Loading truck _____   _____

Delivery Merchandise _____ ____

Processing invoice ____ ____

Total ____ ______

Before preparing Part A, answer in complete sentences these 2 questions:

1. Looking at the direct materials equations for Standard Costs and Actual Costs, is the materials

price variance favorable or unfavorable? Why?

2. Looking at the direct materials equations for Standard Costs and Actual Costs, is the materials

Problem A

Direct materials, direct labor, and factory overhead cost variance analysis

Obj. 3, 4Mackinaw Inc. processes a base chemical into plastic. Standard costs and actual costs for direct materials, direct labor, and factory overhead incurred for the manufacture of 40,000 units of product were as follows:

Each unit requires 0.3 hour of direct labor.

Instructions

1. Determine (A) the direct materials price variance, direct materials quantity variance, and total direct materials cost variance; (B) the direct labor rate variance, direct labor time variance, and total direct labor cost variance; and (C) the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance.

Answer the following questions:
1. Guests at a busy eight-story four-star hotel are consistently complaining about having
to wait too long for the elevator. At 8:00am, some of the elevators are in use by the
housekeeping department whose associates are going up to begin work on the guest
rooms. At the same time, room service has an elevator blocked off to serve in-room
breakfasts because the kitchen and the banqueting departments are using the service
elevators. Then, at about 10:30 am, the housekeepers use the elevators to go down for
their morning break. Guests have come to you as a front office supervisor to report the
issue.

Question:
The general manager recognises your potential and asks you to come up with
suggestions to take care of the problem/challenge. 20 marks

2. As a front office supervisor, you have realised that a client disagrees with your front
office clerk on a request being made. The client is not happy about the outcome and is
seriously angry. Does that mean that the message has not been properly understood by
the client? Or could it mean something else? Explain 20 marks

Write a program for hotel booking system using C++

Program Requirement

1. You can write any program based on the title assigned.

2. The program must fulfill ALL the requirements below. The requirements listed below are the MINIMUM requirement. Your program may extend beyond the requirements if needed.

a) Create at least one (1) base class.

b) Create at least two (2) derived classes that inherit from the base class created in 2(a).

c) Create at least one (1) object for each class and one (1) array of objects for one of the class.

d) Create at least one (1) default constructor for every classes.

f) Apply dynamic memory allocation using keyword new and delete for any object or array of objects.

g) Create at least one (1) virtual function.

h) Write sufficient comments to explain your program.

(Note : Only a reasonable level of user input checking is needed. Assume that a user will input text and numbers in good faith. He/she will not purposely enter text into a number field and will not key in non-alphanumeric characters for all text fields.)