Questions
An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the...

An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020.

Inventory

Beginning

Ending

Raw materials $ 9,660 $ 13,620
Work in process 5,100 8,710
Finished goods 9,870 6,640


Costs incurred: raw materials purchases $ 57,250, direct labor $ 51,410, manufacturing overhead $22,900. The specific overhead costs were: indirect labor $ 6,160, factory insurance $ 4,610, machinery depreciation $ 4,920, machinery repairs $ 2,230, factory utilities $ 3,210, and miscellaneous factory costs $ 1,770. Assume that all raw materials used were direct materials.

(a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2020.


(b) Show the presentation of the ending inventories on the June 30, 2020, balance sheet.

In: Accounting

Complete the following cost and revenue schedule Average Quantity           Total          Marginal           

Complete the following cost and revenue schedule

Average

Quantity           Total          Marginal            Total               Marginal           Total

Price       Demanded       Revenue        Revenue             Cost                Cost                  Cost

$20                   0                                                               $8

$18                   1                                                             $14

$16                   2                                                             $22

$14                   3                                                             $32

$12                   4                                                             $44

$10                   5                                                             $58

   $8                  6                                                             $74

   $6                  7                                                             $92

   $4                  8                                                          $112

   $2                  9                                                          $147

a. Graph the demand, MR, and MC curves.

b. At what rate of output are profits maximized within this range?

c. What are the values of MR and MC at the profit-maximizing rate of output?

d. What are total profits at that output rate?

e. If a competitive industry confronted the same demand and costs, how much output is produced in the short run?

f. What would happen to long-run price in perfect competition?

In: Economics

The cost of ink cartridges for inkjet printers can be substantial over the life of a...

The cost of ink cartridges for inkjet printers can be substantial over the life of a printer. Printer manufacturers publish the number of pages that can be printed from an ink cartridge in an effort to attract customers. A company claims that its black ink cartridge will yield 492 pages. To test this​ claim, an independent lab measured the page count of 42 cartridges and found the average page count to be 487.7. Assume the standard deviation for this population is 44. Using a 95​% confidence​ interval, does this sample support the​ company's claim?

Select the correct choice​ below, and fill in the answer boxes to complete your choice.

​(Round to two decimal places as​ needed.)

A. Yes​, because the​ company's claim is between the lower limit of BLANK pages and the upper limit of BLANK pages for the average number of pages yielded by a single black cartridge.

B. No​,because the​ company's claim is not between the lower limit of BLANK pages and the upper limit of BLANK pages for the average number of pages yielded by a single black cartridge.

In: Statistics and Probability

that at the beginning of 2017​, Porter Airlines purchased a Bombardier Q400 aircraft at a cost...

that at the beginning of 2017​, Porter Airlines purchased a Bombardier Q400 aircraft at a cost of $ 25,000,000. Porter expects the plane to remain useful for five years left parenthesis 5000000 km right parenthesis and to have a residual value of ​$5000000. Porter expects the plane to be flown 750,000 km the first​ year,  1250,000 km each year during years 2 through​ 4, and 500000 km the last year. 1.  Compute Porter​'s ​first-year depreciation on the plane using the following​ methods: a.   ​Straight-line b.   ​Units-of-production c.   ​Double-diminishing-balance 2.  Show the​ airplane's carrying amount at the end of the first year under each depreciation method.  

In: Accounting

What is the main problem of the Cost Conundrum article? what is is about and write...

What is the main problem of the Cost Conundrum article? what is is about and write a summary that shows an evidence of  independent thoughts.

In: Biology

An analysis of the accounts of Sheridan Company reveals the following manufacturing cost data for the...

An analysis of the accounts of Sheridan Company reveals the following manufacturing cost data for the month ended September 30, 2020.

Inventories Beginning Ending
Raw materials $12,500 $11,000
Work in process 6,800 5,400
Finished goods 9,600 11,700

Costs incurred: raw materials purchases $63,700, direct labor $50,800, manufacturing overhead $27,400. The specific overhead costs were: indirect labor $6,900, factory insurance $4,700, machinery depreciation $6,200, machinery repairs $2,500, factory utilities $4,000, miscellaneous factory costs $1,890. Assume that all raw materials used were direct materials.

Question: Sheridan Company is considering the purchase of a new automated assembly line for its factory. The purchase would result in several changes in Sheridan’ cost structure. Both direct labor and indirect labor would decrease by 40%. Factory insurance would increase to $7,900, machinery depreciation would double, machinery repairs would decrease to $500, utilities would decrease to $2,200 and miscellaneous factory costs would increase to $2,000. Materials usage would remain at current levels.

Analyze the new purchase by preparing a cost of goods manufactured schedule for September 30, 2020 using the new data.

In: Accounting

The table to the right shows the cost per ounce​ (in dollars) for a random sample...

The table to the right shows the cost per ounce​ (in dollars) for a random sample of toothpastes exhibiting very good stain​ removal, good stain​ removal, and fair stain removal. At alpha=0.05​, can you conclude that the mean costs per ounce are​ different? Perform a​ one-way ANOVA test by completing parts a through d. Assume that each sample is drawn from a normal​ population, that the samples are independent of each​ other, and that the populations have the same variances.

Very good stain removal   Good stain removal Fair stain removal
0.33 0.64 0.34
0.35 2.76 1.16
0.41 0.60 0.60
1.51 0.98  
0.48 0.75  
0.51 1.34  

​Critical Values F=3.89

Rejection region F > 3.89

(c.) Calculate the test statistic

Decide to reject or fail to reject the null hypothesis and interpret the decision in the context of the original claim.

In: Statistics and Probability

Briefly explain with examples the varied products or outputs in a joint cost process?

Briefly explain with examples the varied products or outputs in a joint cost process?

In: Accounting

1. Which of the following is not a cost center? An accounting department A Production department...

1. Which of the following is not a cost center?

  1. An accounting department
  2. A Production department
  3. A retail sales depot
  4. A maintenance department

2. An Investment center is responsible for:

  1. Investing in long term assets.
  2. Controlling costs.
  3. Generating revenues.
  4. All of the above.

3. A Profit center is responsible for all of the following except:

  1. Investing in long term assets
  2. Controlling costs.
  3. Generating revenues.
  4. All of the above are the responsibility of a profit center.

4. A cost center is responsible for which of the following?

  1. Investment in long-term assets.
  2. Controlling costs.
  3. Generating revenues.
  4. All of the above.

5. Use of profit as a performance measure:

  1. May lead to overinvestment in assets.
  2. Is appropriate for an investment center.
  3. Is appropriate as long as profit is calculated using Generally Accepted Accounting Practices.
  4. Encourages managers to finance operations with debt rather than equity.

In: Accounting

A company makes and sells a single product, the variable cost of the production is $3...

A company makes and sells a single product, the variable cost of the production is $3 per unit

and variable cost of selling is $1 per unit, fixed cost totalled $600, and the selling price per unit

was $6. The company budgeted to make and sell 3 000 units in the next year.

Required

Prepare a break even chart showing the expected amount of the output and sales required to

break even.

In: Accounting