Imagine a monopoly producer in the computer industry called Megasoft. The market demand for computer products and the total cost at each level of output is given below. Fixed costs equal $140,000. Fill in the rest of the table and answer the following questions:

1. Is Megasoft a perfectly competitive firm? How can you tell?

2. What is the profit maximizing level of output for Megasoft? How can you tell?

3. How does Megasoft decide what price to charge?

4. What are the firm’s profits?

Brilliant Design Company makes custom chairs for individual customers. Brilliant Design Company is a job-order costing manufacturer that applies overhead on the basis of Direct Labor Cost. At the beginning of the year, to establish a predetermined overhead rate, Brilliant Design Company estimated total $700 in overhead costs and total $1,000 in direct labor cost.

On October 1, there was one job in process, Job 243, with a cost of $1,300.

Jobs 244, 245, and 246 were started during the month of October. Data on costs added during the month are as follows:

Job 245 was completed and the client was billed at cost plus 55%. All other jobs remained in process.

Q23. What is the manufacturing overhead applied to Job 243?

Q24. what is the total manufacturing overhead for job 245?

Q25. what is the Balance in work of process in October 31?

Q26. what is the price of Job 245?

Stefani Company has gathered the following information about its product.

Direct materials: Each unit of product contains 3.20 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.10 pounds. Materials cost $1 per pound, but Stefani always takes the 1.00% cash discount all of its suppliers offer. Freight costs average $0.40 per pound.

Direct labor. Each unit requires 2.90 hours of labor. Setup, cleanup, and downtime average 0.20 hours per unit. The average hourly pay rate of Stefani’s employees is $10.20. Payroll taxes and fringe benefits are an additional $3.70 per hour.

Manufacturing overhead. Overhead is applied at a rate of $4.90 per direct labor hour.

Compute Stefani’s total standard cost per unit. (Round answer to 2 decimal places, e.g. 1.25.)

Please point out the final answers!

Thomas Ltd., a manufacturing firm, manufactures frames for the Kona Bicycle company. The company has supplied information from its accounting records for the last 12 months.

Use the above information to answer the following questions.

1. Using the high-low method calculate the variable rate for factory overhead.

2. Using the high-low method calculate the fixed cost for factory overhead

3.If the total cost of factory overhead equals $11,000 and the company manufacturers 5,500 frames, what is the total factory overhead cost per frame manufactured?

4. If the company increased production of frames by 50% in any given month would the total factory overhead cost per frame increase, decrease or stay the same?

The Assembly Department uses a process cost accounting system and a weighted-average cost flow assumption. The department adds materials at the beginning of the process and incurs conversion costs uniformly throughout the process. During July, RM190,000 of materials costs and RM133,000 in conversion costs were charged to the department. The beginning work in process inventory was RM108,000 on July 1, comprised of RM80,000 of materials costs and RM28,000 of conversion costs.

Other data for the month of July are as follows:

Beginning work in process inventory, 7/1 25,000 units (40% complete)

Units completed and transferred out 90,000 units

Ending work in process inventory, 7/31 10,000 units (20% complete)

Required:

1. Answer the following questions and show computations to support your answers.

2. How many physical units have to be accounted for in July?

3. What are the equivalent units of production for materials and for conversion costs for the month of July?

4. What is the total cost assigned to the 90,000 units that were transferred out of the process in July?

5. What is the total cost of the July 31 inventory?

[TOTAL: 10 MARKS]

Javascript array of objects: I'm trying to get the input into an array of objects, and then display the information in a table using a for loop, but I don't think my path is right

<!DOCTYPE html>

<head>
<title>Form</title>
<meta charset="utf-8" />

<style media="screen">

h1 {
text-align: center;
}

div {
background-color: #pink;
border: 2px solid green;
padding: 15px;
margin: 65px;
}

</style>

<script>
var list = [];
total = 0;
text = "";

function Product(item, quantity, costs){
this.item = item;
this.quantity = quantity;
this.cost = cost;
}

function insert() {
list.push(new Product(document.getElementById('productItem').value,
document.getElementById('productQuantity').value),
document.getElementById('productCost').value);

var table="<table ><tr><th>Item</th><th>Cost</th><th>Quantity</th></tr>";

for(var i=0;i<list.length;i++)

{
table+="<tr><td>"+list[i].item+"</td><td>"+list[i].cost+"</td><td>"+list[i].quantity+"</td><td>"+list[i].cost*list[i].quantity+"</td></tr>";
}

table+="</table>";
document.getElementById("demo1").innerHTML =table;
}

function displayReceipt() {
total = 0;
text = "";
text = "==============================================";
text += "<br /><h2>your order</h2>";
text += "<table><tr><th>Item</th><th>Cost</th><th>Quantity</th><th>Total</th></tr>";

for (var i = 0; i < list.length; i++) {

total+=list[i].cost*list[i].quantity;
text += "<tr><td>"+list[i].item+"</td><td>"+list[i].cost+"</td><td>"+list[i].quantity+"</td><td>"+list[i].cost*list[i].quantity+"</td></tr>";
}

text+="<tr><th colspan=3>Total Cost </th><th>"+total.toFixed(2)+"</th></tr>";
text += "</table>";

document.getElementById("demo2").innerHTML = text;
}

function checkout() {

displayReceipt();
}

</script>
</head>

<body>
<div>
<h1>market</h1>

<
<form>

Item: <input id="item" name="productItem" type="text" placeholder="Item"><br><br>
Cost: <input id="productCost" name="productCost" type="number" placeholder="Cost"><br><br>
Quantity: <input id="productQuantity" name="productQuantity" type="number" size="20" placeholder="Quantity"><br><br><br>
<input type="reset" value="Add to Cart" onclick="insert()">
<input type="button" value="Checkout" onclick="checkout()">
</form>

<p id="demo1"></p>
<p id="demo2"></p>
<p id="demo3"></p>

</div>

</body>
</html>

Exercise 9-25 Activity-Based versus Traditional Costing (L.O. 4, 5, 6)

The issue of homelessness is relevant to both Microeconomics, Econ 10 B, and Macroeconomics, Econ 10 A. In Micro we discuss at great length the market for rental housing: supply, demand, price and quantity. Many families in America BECOME homeless as a direct result of “free market” forces: their rent rises beyond their ability to pay. In Macro, we discuss the national picture: the millions of jobs involved on a national scale in the construction and sale of residential units: homes, condos, apartments, and ADUs (accessory dwelling units). The San Jose Mercury News reported on June 17 that the city of San Jose is dismantling a temporary homeless site after spending more than $1.3 million repairing dozens of dilapidated state-owned trailers. The article states that “nearly 6,200 people in San Jose don’t have a place to call home and county health officials believe that at least 2,500 of them are at high risk of infection.” Some experts believe the total is much higher than that. San Jose has announced plans to build hundreds of ‘dorm-style’ modular and prefab housing units to serve its homeless population on three locations in the city: A site at Monterey and Bernal roads, a second at Evans Lane, and a third at Rue Ferrari and Highway 101. In EACH AND EVERY CASE, opposition from neighbors has been INTENSE. ‘NOT IN MY BACKYARD!” The city of San Francisco had been spending over $300 million PER YEAR (before March, 2020) to house homeless people and provide other services. Yet, the number of homeless keeps rising. Given the incredible drop in tax revenue---hotel taxes, sales taxes on restaurant meals-----since March, 2020, it is almost impossible to imagine that level of funding staying level. San Francisco has suffered a greater drop in tax revenue than San Jose or Oakland. Obviously, it is not a contest. So, here goes: Question 1. In early March, 2020, our state government announced tentative plans to move homeless people in to college dorm rooms. A. In your opinion, is this idea a good idea? Or a bad idea? Why? B. Would you make this program voluntary for homeless people? Or mandatory? Why? C. How vigorously would you enforce this program? Why? D. What penalties, if any, would you impose on homeless people for non-compliance? Why? E. In theory, what could ‘go wrong’ with the enforcement of this program? What other support services do homeless people require, in addition to housing? F. Moving homeless people into hotel rooms, (combined with support services), which our state has done on an unprecedented level, may be a better idea than moving them into college dorms. Why? G. In your opinion, what more should we be doing as a society to address this issue? Why?

Problem 11-6