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ACC 434 Final Exams
1. (TCO 1) a significant limitation of activity-based costing is the (Points: 5)
2. (TCO 1) Ireland Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $180,000. The budgeted number of nozzles to be inserted is 80,000. What is the budgeted indirect cost allocation rate for this activity? (Points: 5)
3. (TCO 2) Overhead costs have been increasing due to all of the following except (Points: 5)
4. (TCO 2) Information pertaining to Brenton Corporation's sales revenue is presented in the following table:
February March April
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1. (TCO 1) If products are alike, then for costing purposes (Points : 5)
2. (TCO 1) Ireland Company produces a special spray nozzle. The budgetedindirect total cost of inserting the spray nozzle is $180,000. The budgeted number of nozzles to be inserted is 80,000. What is the budgeted indirect cost allocation rate for this activity? (Points : 5)
3. (TCO 2) Variable overhead costs include (Points : 5)
4. (TCO 2) Information pertaining to Brenton Corporation's sales revenue ispresented in the following table:
February March April
Cash Sales $160,000 $150,000 $120,000
Credit Sales 300,000 400,000 280,000
Total Sales $460,000 $550,000 $400,000
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1. (TCO 1) If products are alike, then for costing purposes (Points: 5)
1) If products are different, then for costing purposes:
1. (TCO 1) Evaluating customer reaction of the trade-off of giving up some features of a product for a lower price would best fit which category of management decisions under activity-based management? (Points: 5)
2. (TCO 1) Danielle Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $180,000. The budgeted number of nozzles to be inserted is 60,000. What is the budgeted indirect cost allocation rate for this activity? (Points: 5)
3. (TCO 2) Fixed overhead costs include (Points: 5)
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1. (TCO 1) If products are alike, then for costing purposes (Points : 5)
2. (TCO 1) Ireland Company produces a special spray nozzle. The budgetedindirect total cost of inserting the spray nozzle is $180,000. The budgeted number of nozzles to be inserted is 80,000. What is the budgeted indirect cost allocation rate for this activity? (Points : 5)
3. (TCO 2) Variable overhead costs include (Points : 5)
4. (TCO 2) Information pertaining to Brenton Corporation's sales revenue ispresented in the following table:
February March April
Cash Sales $160,000 $150,000 $120,000
Credit Sales 300,000 400,000 280,000
Total Sales $460,000 $550,000 $400,000
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1. (TCO 1) If products are alike, then for costing purposes (Points: 5)
1) If products are different, then for costing purposes:
1. (TCO 1) Evaluating customer reaction of the trade-off of giving up some features of a product for a lower price would best fit which category of management decisions under activity-based management? (Points: 5)
2. (TCO 1) Danielle Company produces a special spray nozzle. The budgeted indirect total cost of inserting the spray nozzle is $180,000. The budgeted number of nozzles to be inserted is 60,000. What is the budgeted indirect cost allocation rate for this activity? (Points: 5)
3. (TCO 2) Fixed overhead costs include (Points: 5)
ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
ACCT 505 Week 2 Quiz Set 2
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ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
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ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
HelloI would like to know how can I get some answers from your web.docxtrappiteboni
Hello
I would like to know how can I get some answers from your web site
I am preparing a quiz and I have a study guide without answers
Problem 1 (30 marks)
Review enough information about Trinidad Drilling Ltd. to propose a vision and strategic objectives for the company. Develop a balanced scorecard that will help the company achieve this vision and monitor how well it is accomplishing its strategic objectives. Include a strategy map in table format that shows objectives and performance measures, with arrows illustrating hypothesized cause-and -effect relationships. Provide rationale for your strategy map. The body of your report should not exceed 1,000 words. Cite material you used to prepare the response and provide references in an appendix.
Problem 2 (20 marks)
Ajax Auto Upholstery Ltd. manufactures upholstered products for automobiles, vans, and trucks.
Among the various Ajax plants around Canada is the Owlseye plant located in rural Alberta.
The chief financial officer has just received a report indicating that Ajax could purchase the entire annual output of the Owlseye plant from a foreign supplier for $37 million per year.
The budgeted operating costs (in thousands) for the Owlseye plant’s for the coming year is as follows:
Materials
$15,000
Labor
Direct
$12,000
Supervision
4,000
Indirect plant
5,000
19,000
Overhead
Depreciation – plant
6,000
Utilities, property tax, maintenance
2,000
Pension expense
4,500
Plant manager and staff
2,500
Corporate headquarters overhead allocation
3,000
18,000
Total budgeted costs
$52,000
If material purchase orders are cancelled as a consequence of the plant closing, termination charges would amount to 10 percent of the annual cost of direct materials in the first year (zero thereafter).
A clause in the Ajax union contract requires the company to provide employment assistance to its former employees for 12 months after a plant closes. The estimated cost to administer this service if the Owlseye plant closes would be $2 million. $3.6 million of next year’s pension expense would continue indefinitely whether or not the plant remains open. About $900,000 of labour would still be required in the first year after closure to decommission the plant. After that, the plant would be sold for an estimated $1 million. Utilities, property taxes, and maintenance costs would remain unchanged in the first year after closure, but disappear when the plant is sold.
The plant manager and her staff would be somewhat affected by the closing of the Owlseye plant.
Some managers would still be responsible for managing three other plants. As a result, total management salaries would be about 50% of the current level, starting at closure and remaining into the future.
Required:
Assume you are the company’s chief financial officer. Perform a five-year financial analysis and make a recommendation whether to close the Owlseye plant on this basis.
Provide support for and cautions about.
1. (TCO 2) An example of a period cost is (Points 5) ins.docxhyacinthshackley2629
1. (TCO 2) An example of a period cost is (Points : 5)
insurance on factory machines.
a controller’s salary.
property taxes on factory building.
wages of factory maintenance employees.
Question 2.2. (TCO 2) Which product would use job-order costing? (Points : 5)
Ink pens
Custom boot maker
Soda pop
Horse saddles
Question 3.3. (TCO 3) In a process costing system, which would be TRUE? (Points : 5)
There is no need to use time tickets to assign costs to processes.
There is no need to track materials to processes.
A process costing system is more expensive to maintain because it has more work-in-process accounts.
All of the above
Question 4.4. (TCO 8) A company keeps 60 days of materials inventory on hand to avoid shutdowns due to materials shortages. Carrying costs average $5,000 per day. A competitor keeps 30 days of inventory on hand, and the competitor's carrying costs average $2,000 per day. The non-value-added costs for the company are (Points : 5)
$300,000.
$150,000.
$60,000.
$0.
Question 5.5. (TCO 8) Non-value-added activities (Points : 5)
are unnecessary inputs.
are valued outputs to internal users.
are valued outputs to external users.
help meet the organization's needs, not the product needs.
Question 6.6. (TCO 1) The break-even point is (Points : 5)
the volume of activity where all fixed costs are recovered.
where fixed costs equal total variable costs.
where total revenues equal total costs.
where total costs equal total contribution margin.
Question 7.7. (TCO 1) The income statement for Thomas Manufacturing Company for 2011 is as follows.
Sales (10,000 units) $120,000
Variable expenses $72,000
Contribution margin $48,000
Fixed expenses $36,000
Operating income $12,000
Which is the contribution margin per unit? (Points : 5)
$7.20
$1.20
$4.80
$120,000
Question 8.8. (TCO 7) Which cost category would most likely use machine hours as its activity driver? (Points : 5)
Personnel
Maintenance
Purchasing
Payroll
Question 9.9. (TCO 7) Yo Department Store incurred $8,000 of indirect advertising costs for its operations. The following data have been collected for 2013 for its three departments.
Shoes
Cosmetics
Crafts
Sales
$120,000
$100,000
$100,000
Direct advertising costs
$9,000
$7,000
$4,000
Newspaper ad space
60%
20%
20%
How much of the indirect advertising costs will be allocated to the Shoes Department if newspaper ad space is the activity driver? (Points : 5)
$8,000
$4,800
$5,400
$3,200
Question 10.10. (TCO 5.
Problem 1 (30 marks)Review enough information about .docxChantellPantoja184
Problem 1 (30 marks)
Review enough information about Trinidad Drilling Ltd. to propose a vision and strategic objectives for the company. Develop a balanced scorecard that will help the company achieve this vision and monitor how well it is accomplishing its strategic objectives. Include a strategy map in table format that shows objectives and performance measures, with arrows illustrating hypothesized cause-and -effect relationships. Provide rationale for your strategy map. The body of your report should not exceed 1,000 words. Cite material you used to prepare the response and provide references in an appendix.
Problem 2 (20 marks)
Ajax Auto Upholstery Ltd. manufactures upholstered products for automobiles, vans, and trucks. Among the various Ajax plants around Canada is the Owlseye plant located in rural Alberta.
The chief financial officer has just received a report indicating that Ajax could purchase the entire annual output of the Owlseye plant from a foreign supplier for $37 million per year.
The budgeted operating costs (in thousands) for the Owlseye plant’s for the coming year is as follows:
Materials $15,000
Labor
Direct $12,000
Supervision 4,000
Indirect plant 5,000 19,000
Overhead
Depreciation – plant 6,000
Utilities, property tax, maintenance 2,000
Pension expense 4,500
Plant manager and staff 2,500
Corporate headquarters overhead allocation 3,000 18,000
Total budgeted costs $52,000
If material purchase orders are cancelled as a consequence of the plant closing, termination charges would amount to 10 percent of the annual cost of direct materials in the first year (zero thereafter).
A clause in the Ajax union contract requires the company to provide employment assistance to its former employees for 12 months after a plant closes. The estimated cost to administer this service if the Owlseye plant closes would be $2 million. $3.6 million of next year’s pension expense would continue indefinitely whether or not the plant remains open. About $900,000 of labour would still be required in the first year after closure to decommission the plant. After that, the plant would be sold for an estimated $1 million. Utilities, property taxes, and maintenance costs would remain unchanged in the first year after closure, but disappear when the plant is sold.
The plant manager and her staff would be somewhat affected by the closing of the Owlseye plant. Some managers would still be responsible for managing three other plants. As a result, total management salaries would be about 50% of the current level, starting at closure and remaining into the future.
Required:
Assume you are the company’s chief financial officer. Perform a five-year financial analysis and make a recommendation whether to close the Owlseye plant on this basis. Provide support for and cautions about your recommendation with organized, clearly-labeled data. Use bullet points where appropriate.
Problem 3 (16 marks)
Br.
Discuss at least two ways that you can help to control what inform.docxduketjoy27252
Discuss at least two ways that you can help to control what information is readily available about you to anyone, including employers on the Internet.
Principles of Accounting II
1. (Ignore income taxes in this problem.) Gull Inc. is considering the acquisition of equipment
that costs $570,000 and has a useful life of 6 years with no salvage value. The incremental
net cash flows that would be generated by the equipment are:
Incremental net cash flows
Year 1 $148,000
Year 2 $204,000
Year 3 $153,500
Year 4 $170,500
Year 5 $160,500
Year 6 $139,500
If the discount rate is 10%, the net present value of the investment is closest to: (Use exhibit11b-
1, exhibit11b-2)
rev: 12_14_2012, 12_21_2012
$406,000
$262,884
$143,116
$713,116
2.
Jerston Company has an annual plant capacity of 3,000 units. Data concerning this product are given
below:
Annual sales at regular selling
prices
2,800 units
Manufacturing costs:
Variable $ 26 per unit
Fixed (annual) $ 74,500
Selling and administrative
expenses:
Variable (sales commissions) $ 9 per unit
Fixed (annual) $ 17,000
The company has received a special order for 200 units at a selling price of $60 each. Regular sales
would not be affected, and sales commissions on the 200 units would be reduced by one-third. This
special order would have no impact on total fixed costs.
Required:
a. Determine the net advantage (disadvantage) for the special order. (Input the amount as a positive
http://ezto-demo.mhecloud.mcgraw-hill.com/servlet/TestPilot4/laserwords2/13357912481508611.tp4/exhibit11b-1.jpg
http://ezto-demo.mhecloud.mcgraw-hill.com/servlet/TestPilot4/laserwords2/13357912481508611.tp4/exhibit11b-1.jpg
http://ezto-demo.mhecloud.mcgraw-hill.com/servlet/TestPilot4/laserwords2/13357912481508611.tp4/exhibit11b-2.jpg
value.)
(Click to select)
$
b. The company should accept the special order.
Yes
No
3. Coakley Beet Processors, Inc., processes sugar beets in batches. A batch of sugar beets
costs $52 to buy from farmers and $14 to crush in the company's plant. Two intermediate
products, beet fiber and beet juice, emerge from the crushing process. The beet fiber can
be sold as is for $30.00 or processed further for $19.00 to make the end product industrial
fiber that is sold for $39.00. The beet juice can be sold as is for $47.20 or processed
further for $33.04 to make the end product refined sugar that is sold for $78. How much
profit (loss) does the company make by processing the intermediate product beet juice
into refined sugar rather than selling it as is?
$(68.24)
$(26.04)
$(16.24)
$(2.24)
4.
The Litton Company has established standards as follows:
Direct material: 3 pounds per unit @ $5..
Advanced Management Accounting Paper for IPCCseomiamia
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ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
ACCT 505 Week 2 Quiz Set 2
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ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
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ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
HelloI would like to know how can I get some answers from your web.docxtrappiteboni
Hello
I would like to know how can I get some answers from your web site
I am preparing a quiz and I have a study guide without answers
Problem 1 (30 marks)
Review enough information about Trinidad Drilling Ltd. to propose a vision and strategic objectives for the company. Develop a balanced scorecard that will help the company achieve this vision and monitor how well it is accomplishing its strategic objectives. Include a strategy map in table format that shows objectives and performance measures, with arrows illustrating hypothesized cause-and -effect relationships. Provide rationale for your strategy map. The body of your report should not exceed 1,000 words. Cite material you used to prepare the response and provide references in an appendix.
Problem 2 (20 marks)
Ajax Auto Upholstery Ltd. manufactures upholstered products for automobiles, vans, and trucks.
Among the various Ajax plants around Canada is the Owlseye plant located in rural Alberta.
The chief financial officer has just received a report indicating that Ajax could purchase the entire annual output of the Owlseye plant from a foreign supplier for $37 million per year.
The budgeted operating costs (in thousands) for the Owlseye plant’s for the coming year is as follows:
Materials
$15,000
Labor
Direct
$12,000
Supervision
4,000
Indirect plant
5,000
19,000
Overhead
Depreciation – plant
6,000
Utilities, property tax, maintenance
2,000
Pension expense
4,500
Plant manager and staff
2,500
Corporate headquarters overhead allocation
3,000
18,000
Total budgeted costs
$52,000
If material purchase orders are cancelled as a consequence of the plant closing, termination charges would amount to 10 percent of the annual cost of direct materials in the first year (zero thereafter).
A clause in the Ajax union contract requires the company to provide employment assistance to its former employees for 12 months after a plant closes. The estimated cost to administer this service if the Owlseye plant closes would be $2 million. $3.6 million of next year’s pension expense would continue indefinitely whether or not the plant remains open. About $900,000 of labour would still be required in the first year after closure to decommission the plant. After that, the plant would be sold for an estimated $1 million. Utilities, property taxes, and maintenance costs would remain unchanged in the first year after closure, but disappear when the plant is sold.
The plant manager and her staff would be somewhat affected by the closing of the Owlseye plant.
Some managers would still be responsible for managing three other plants. As a result, total management salaries would be about 50% of the current level, starting at closure and remaining into the future.
Required:
Assume you are the company’s chief financial officer. Perform a five-year financial analysis and make a recommendation whether to close the Owlseye plant on this basis.
Provide support for and cautions about.
1. (TCO 2) An example of a period cost is (Points 5) ins.docxhyacinthshackley2629
1. (TCO 2) An example of a period cost is (Points : 5)
insurance on factory machines.
a controller’s salary.
property taxes on factory building.
wages of factory maintenance employees.
Question 2.2. (TCO 2) Which product would use job-order costing? (Points : 5)
Ink pens
Custom boot maker
Soda pop
Horse saddles
Question 3.3. (TCO 3) In a process costing system, which would be TRUE? (Points : 5)
There is no need to use time tickets to assign costs to processes.
There is no need to track materials to processes.
A process costing system is more expensive to maintain because it has more work-in-process accounts.
All of the above
Question 4.4. (TCO 8) A company keeps 60 days of materials inventory on hand to avoid shutdowns due to materials shortages. Carrying costs average $5,000 per day. A competitor keeps 30 days of inventory on hand, and the competitor's carrying costs average $2,000 per day. The non-value-added costs for the company are (Points : 5)
$300,000.
$150,000.
$60,000.
$0.
Question 5.5. (TCO 8) Non-value-added activities (Points : 5)
are unnecessary inputs.
are valued outputs to internal users.
are valued outputs to external users.
help meet the organization's needs, not the product needs.
Question 6.6. (TCO 1) The break-even point is (Points : 5)
the volume of activity where all fixed costs are recovered.
where fixed costs equal total variable costs.
where total revenues equal total costs.
where total costs equal total contribution margin.
Question 7.7. (TCO 1) The income statement for Thomas Manufacturing Company for 2011 is as follows.
Sales (10,000 units) $120,000
Variable expenses $72,000
Contribution margin $48,000
Fixed expenses $36,000
Operating income $12,000
Which is the contribution margin per unit? (Points : 5)
$7.20
$1.20
$4.80
$120,000
Question 8.8. (TCO 7) Which cost category would most likely use machine hours as its activity driver? (Points : 5)
Personnel
Maintenance
Purchasing
Payroll
Question 9.9. (TCO 7) Yo Department Store incurred $8,000 of indirect advertising costs for its operations. The following data have been collected for 2013 for its three departments.
Shoes
Cosmetics
Crafts
Sales
$120,000
$100,000
$100,000
Direct advertising costs
$9,000
$7,000
$4,000
Newspaper ad space
60%
20%
20%
How much of the indirect advertising costs will be allocated to the Shoes Department if newspaper ad space is the activity driver? (Points : 5)
$8,000
$4,800
$5,400
$3,200
Question 10.10. (TCO 5.
Problem 1 (30 marks)Review enough information about .docxChantellPantoja184
Problem 1 (30 marks)
Review enough information about Trinidad Drilling Ltd. to propose a vision and strategic objectives for the company. Develop a balanced scorecard that will help the company achieve this vision and monitor how well it is accomplishing its strategic objectives. Include a strategy map in table format that shows objectives and performance measures, with arrows illustrating hypothesized cause-and -effect relationships. Provide rationale for your strategy map. The body of your report should not exceed 1,000 words. Cite material you used to prepare the response and provide references in an appendix.
Problem 2 (20 marks)
Ajax Auto Upholstery Ltd. manufactures upholstered products for automobiles, vans, and trucks. Among the various Ajax plants around Canada is the Owlseye plant located in rural Alberta.
The chief financial officer has just received a report indicating that Ajax could purchase the entire annual output of the Owlseye plant from a foreign supplier for $37 million per year.
The budgeted operating costs (in thousands) for the Owlseye plant’s for the coming year is as follows:
Materials $15,000
Labor
Direct $12,000
Supervision 4,000
Indirect plant 5,000 19,000
Overhead
Depreciation – plant 6,000
Utilities, property tax, maintenance 2,000
Pension expense 4,500
Plant manager and staff 2,500
Corporate headquarters overhead allocation 3,000 18,000
Total budgeted costs $52,000
If material purchase orders are cancelled as a consequence of the plant closing, termination charges would amount to 10 percent of the annual cost of direct materials in the first year (zero thereafter).
A clause in the Ajax union contract requires the company to provide employment assistance to its former employees for 12 months after a plant closes. The estimated cost to administer this service if the Owlseye plant closes would be $2 million. $3.6 million of next year’s pension expense would continue indefinitely whether or not the plant remains open. About $900,000 of labour would still be required in the first year after closure to decommission the plant. After that, the plant would be sold for an estimated $1 million. Utilities, property taxes, and maintenance costs would remain unchanged in the first year after closure, but disappear when the plant is sold.
The plant manager and her staff would be somewhat affected by the closing of the Owlseye plant. Some managers would still be responsible for managing three other plants. As a result, total management salaries would be about 50% of the current level, starting at closure and remaining into the future.
Required:
Assume you are the company’s chief financial officer. Perform a five-year financial analysis and make a recommendation whether to close the Owlseye plant on this basis. Provide support for and cautions about your recommendation with organized, clearly-labeled data. Use bullet points where appropriate.
Problem 3 (16 marks)
Br.
Discuss at least two ways that you can help to control what inform.docxduketjoy27252
Discuss at least two ways that you can help to control what information is readily available about you to anyone, including employers on the Internet.
Principles of Accounting II
1. (Ignore income taxes in this problem.) Gull Inc. is considering the acquisition of equipment
that costs $570,000 and has a useful life of 6 years with no salvage value. The incremental
net cash flows that would be generated by the equipment are:
Incremental net cash flows
Year 1 $148,000
Year 2 $204,000
Year 3 $153,500
Year 4 $170,500
Year 5 $160,500
Year 6 $139,500
If the discount rate is 10%, the net present value of the investment is closest to: (Use exhibit11b-
1, exhibit11b-2)
rev: 12_14_2012, 12_21_2012
$406,000
$262,884
$143,116
$713,116
2.
Jerston Company has an annual plant capacity of 3,000 units. Data concerning this product are given
below:
Annual sales at regular selling
prices
2,800 units
Manufacturing costs:
Variable $ 26 per unit
Fixed (annual) $ 74,500
Selling and administrative
expenses:
Variable (sales commissions) $ 9 per unit
Fixed (annual) $ 17,000
The company has received a special order for 200 units at a selling price of $60 each. Regular sales
would not be affected, and sales commissions on the 200 units would be reduced by one-third. This
special order would have no impact on total fixed costs.
Required:
a. Determine the net advantage (disadvantage) for the special order. (Input the amount as a positive
http://ezto-demo.mhecloud.mcgraw-hill.com/servlet/TestPilot4/laserwords2/13357912481508611.tp4/exhibit11b-1.jpg
http://ezto-demo.mhecloud.mcgraw-hill.com/servlet/TestPilot4/laserwords2/13357912481508611.tp4/exhibit11b-1.jpg
http://ezto-demo.mhecloud.mcgraw-hill.com/servlet/TestPilot4/laserwords2/13357912481508611.tp4/exhibit11b-2.jpg
value.)
(Click to select)
$
b. The company should accept the special order.
Yes
No
3. Coakley Beet Processors, Inc., processes sugar beets in batches. A batch of sugar beets
costs $52 to buy from farmers and $14 to crush in the company's plant. Two intermediate
products, beet fiber and beet juice, emerge from the crushing process. The beet fiber can
be sold as is for $30.00 or processed further for $19.00 to make the end product industrial
fiber that is sold for $39.00. The beet juice can be sold as is for $47.20 or processed
further for $33.04 to make the end product refined sugar that is sold for $78. How much
profit (loss) does the company make by processing the intermediate product beet juice
into refined sugar rather than selling it as is?
$(68.24)
$(26.04)
$(16.24)
$(2.24)
4.
The Litton Company has established standards as follows:
Direct material: 3 pounds per unit @ $5..
Advanced Management Accounting Paper for IPCCseomiamia
Mia Mia is one of the best listing website for IPCC Classes in Mumbai. We are also known for our systematic listing of various IPCC, CA Final and CPT CLasses in Mumbai. QLI is a class where each student is our priority. We are one of the best listing website for CA Classes in Mumbai.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
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1. ACCT 434 Final Exam Set 3
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ACC 434 Final Exams
1. (TCO 1) a significant limitation of activity-based costing is the (Points: 5)
2. (TCO 1) Ireland Company produces a special spray nozzle. The budgeted indirect t
otal cost of inserting the spray nozzle is $180,000. The budgeted number of nozzles to
be inserted is 80,000. What is the budgeted indirect cost allocation rate for this activ
ity? (Points: 5)
3. (TCO 2) Overhead costs have been increasing due to all of the following except (Po
ints: 5)
4. (TCO 2) Information pertaining to Brenton Corporation's sales revenue is presente
d in the following table:
February March April
Cash Sales $160,000 $150,000 $120,000
Credit Sales 300,000 400,000 280,000
Total Sales $460,000 $550,000 $400,000
Management estimates that 5% of credit sales are not collectible. Of the credit sales t
hat are collectible, 75% are collected in the month of sale and the remainder in the m
onth following the sale. Cost of purchases of inventory each month is 80% of the next
month's projected total sales. All purchases of inventory are on
5. (TCO 2) Budgeting provides all of the following EXCEPT
6. (TCO 3) the cost components of an air conditioner include $35 for the compressor,
$15 for the sheet-
molded compound frame, and $100 per unit for assembly. The factory machines-and-
tools cost is $80,000. The company expects to produce 1,500 air conditioners in the c
oming year. What cost function best represents these costs?
7. (TCO 3) which cost estimation method uses a formal mathematical method to devel
op cost functions based on past data?
8. (TCO 4) Sunk costs
9. (TCO 5) in the theory of constraints, the only direct costs are
10. (TCO 5) Producing more non bottleneck output
2. 11. (TCO 6) which of the following methods of allocating costs use market-
based data?
12. (TCO 6) the benefits-received criteria for allocating joint costs indicates market-
based measures are preferred because
13. (TCO 7) Life-cycle budgeting is particularly important when
14. (TCO 7) Pritchard Company manufactures a product that has a variable cost of $
30 per unit. Fixed costs total $2,000,000, allocated on the basis of the number of unit
s produced. Selling price is computer by adding a 12% markup to full cost. How muc
h should the selling price be per unit for 300,000 units?
15. (TCO 8) the costs used in cost-based transfer prices
16. (TCO 8) Division A sells soybean paste internally to Division B, which in turn, pro
duces soybean burgers that sell for $5 per pound. Division A incurs costs of $0.80 pe
r pound while Division B incurs additional costs of $3 per pound.
What is Division A's operating income per pound, assuming the transfer price of the s
oybean paste is set at $1.25 per pound?
17. (TCO 8) Transferring products or services at market prices generally leads to opti
mal decisions when
18. (TCO 9) to guide cost allocation decisions, the benefits-received criterion
19. (TCO 9) The Hassan Corporation has an electric mixer division and an electric la
mp division. Of a $50,000,000 bond issuance, the electric mixer division used $24,00
0,000 and the electric lamp division used $26,000,000 for expansion. Interest costs o
n the bond totaled $1,500,000 for the year. What amount of interest costs should be al
located to the electric mixer division?
20. (TCO 10) A "what-
if" technique that examines how a result will change if the original predicted data are
not achieved or if an underlying assumption changes is called
21. (TCO 10) Upper Darby Park Department is considering a new capital investment.
The cost of the machine will be $200,000. The annual cost savings if the new machin
e is acquired will be $40,000. The machine will have a five-
year life, at which time the terminal disposal value is expected to be $20,000. Upper
Darby Park Department is assuming no tax consequences.
If Upper Darby Park Department has a required rate of return of 10%, which of the fo
llowing is closest to the present value of the project?
22. (TCO 11) nonfinancial measures for internal quality performance include all but
which of the following?
23. (TCO 11) Regal Products has a budget of $900,000 in 20X6 for prevention costs.
If it decides to automate a portion of its prevention activities, it will save $60,000 in v
ariable costs. The new method will require $18,000 in training costs and $120,000 in
annual equipment costs. Management is willing to adjust the budget for an amount up
to the cost of the new equipment. The budgeted production level is 150,000 units. Ap
3. praisal costs for the year are budgeted at $600,000. The new prevention procedures
will save appraisal costs of $30,000. Internal failure costs average $15 per failed unit
of finished goods. The internal failure rate is expected to be 3% of all completed item
s. The proposed changes will cut the internal failure rate by one-
third. Internal failure units are destroyed. External failure costs average $54 per fail
ed unit. The company's average external failures average 3% of units sold. The new
proposal will reduce this rate by 50%. Assume all units produced are sold and there
are no ending inventories.
Ho23. (TCO 11) Regal Products has a budget of $900,000 in 20X6 for prevention cost
s. If it decides to automate a portion of its prevention activities, it will save $60,000 in
variable costs. The new method will require $18,000 in training costs and $120,000 i
n annual equipment costs. Management is willing to adjust the budget for an amount u
p to the cost of the new equipment. The budgeted production level is 200,000 units. Ap
praisal costs for the year are budgeted at $600,000. The new prevention procedures w
ill save appraisal costs of $30,000. Internal failure costs average $15 per failed unit o
f finished goods. The internal failure rate is expected to be 3% of all completed items.
The proposed changes will cut the internal failure rate by one-
third. Internal failure units are destroyed. External failure costs
24. (TCO 12) Obsolescence is an example of which cost category?
25. (TCO 12) Liberty Celebrations, Inc. manufactures a line of flags. The annual dem
and for its flag display is estimated to be 100,000 units. The annual cost of carrying o
ne unit in inventory is $1.60, and the cost to initiate a production run is $100. There a
re no flag displays on hand but Liberty had scheduled 70 equal production runs of the
display sets for the coming year, the first of which is to be run immediately. Liberty
Celebrations has 250 business days per year. Assume that sales occur uniformly thro
ughout the year and that production is instantaneous.
The estimated total setup cost for the flag displays for the coming year is
1. If Liberty Celebrations does not maintain a safety stock, the estimated total carryin
g cost for the flag displays for the coming year is
100000/60 = 1667 units per run
Russell.Company.has.the.following.projected.account.balances.for.June.30,.20X5: Ac
counts payable $40,000 Sales $800,000 Accounts receivable $100,000 Capital stock $
400,000 Depreciation, factory $24,000 Retained earnings ? Inventories (5/31 & 6/30)
$180,000 Cash $56,000 Direct materials used $200,000 Equipment, net $240,000 Offi
ce salaries $80,000 Buildings, net $400,000 Insurance, factory $4,000 Utilities, factor
y $16,000 Plant wages $140,000 Selling expenses $60,000 Bonds payable $160,000 M
aintenance, factory $28,000 Required
a) Prepare.a.budgeted.income.statement.for.June.20X5.
b) Prepare.a.budgeted.balance.sheet.as.of.June.30,.20X5. (Points: 25)
2. (TCO 5) Steven's Medical Equipment Company manufactures hospital beds. Its mos
t popular model, Deluxe, sells for $5,000. It has variable costs totaling $2,800 and fix
ed costs of $1,000 per unit, based on an average production run of 5,000 units. It nor
mally has four production runs a year, with $600,000 in setup costs each time. Plant c
4. apacity can handle up to six runs a year for a total of 30,000 beds. A competitor is int
roducing a new hospital bed similar to Deluxe that will……..? (Points: 25)
2. (TCO 5) Robert's Medical Equipment Company manufactures hospital beds. Its mo
st popular model, Deluxe, sells for $5,000. It has variable costs totaling $2,800 and fi
xed costs of $1,000 per unit, based on an average production run of 5,000 units. It nor
mally has four production runs a year, with $400,000 in setup costs each time. Plant c
apacity can handle up to six runs a year for a total of 30,000 beds.
A competitor is introducing a new hospital bed similar to Deluxe that will sell for $4,0
00. Management believes it must lower the price to compete. Marketing believes that t
he new price will increase sales by 25% a year. The plant manager thinks that produc
tion can increase by 25% with the same level of fixed costs. The company currently sel
ls all the Deluxe beds it can produce.
Question 2: What is the annual operating income from Deluxe if the price is reduced
to $4,000 and sales in units increase by 25%?
Sales (25,000 x $4,000) $100,000,000
3. (TCO 7) Grace Greeting Cards Incorporated is starting a new business venture and
are in the process of evaluating its product lines. Information for one new product, tr
aditional parchment grade cards, is as follows:
∙ Sixteen times each year, a new card design will be put into production. Each new
design will require $600 in setup costs.
∙ The parchment grade card product line incurred $75,000 in development costs a
nd is expected to be produced over the next four years.
∙ Direct costs of producing the designs average $0.50 each.
∙ Indirect manufacturing costs are estimated at $50,000 per year.
∙ Customer service expenses average $0.10 per card.
∙ Current sales are expected to be 2,500 units of each card design. Each card sells
for $3.50.
∙ Sales units equal production units each year.
What is the estimated life-cycle operating income for the first year?
What are the estimated life-cycle revenues?
workings
4. (TCO 8) Novacar Company manufactures automobiles. The red car division sells it
s red cars for $25,000 each to the general public. The red cars have manufacturing co
sts of $12,500 each for variable and $5,000 each for fixed costs. The division's total fi
xed manufacturing costs are $25,000,000 at the normal volume of 5,000 units. ………
……………………. (Points: 25)
4. Colorfull Autocar Company manufactures automobiles. The Red Car Division sells
its red cars for $25,000 each to the general public. The red cars have manufacturing c
osts of $12,500 each for variable and $5,000 each for fixed costs. The division's total f
ixed manufacturing costs are $25,000,000 at the normal volume of 5,000 units.
The Blue Car Division has been unable to meet the demand for its cars this year. It ha
s offered to buy 1,000 cars from the Red Car Division at the full cost of $17,500. The
5. Red Car Division has excess capacity and the 1,000 units can be produced without int
erfering with the current outside sales of 5,000. The 6,000 volume is within the divisio
n's relevant operating range.
Explain whether the Red Car Division should accept the offer. Support your decision s
howing all calculations
4. (TCO 8) Sportswear Company manufactures socks. The Athletic Division sells its s
ocks for $6 a pair to outsiders. Socks have manufacturing costs of $2.50 each for vari
able and $1.50 for fixed. The division's total fixed manufacturing costs are $105,000 a
t the normal volume of 70,000 units.
The European Division has offered to buy 15,000 socks at the full cost of $4. The Athl
etic Division has excess capacity and the 15,000 units can be produced without interfe
ring with the current outside sales of 70,000. The 85,000 volume is within the division'
s relevant operating range.
Explain whether the Athletic Division should accept the offer. Support your decision s
howing all calculations.
(Points: 25)
5. (TCO 11) For supply item LK, Boatman Company has been ordering 125 units base
d on the recommendation of the salesperson who calls on the company monthly. The
company has hired a new purchasing agent, who wants to start using the economic-
order-
quantity method and its supporting decision elements. She has gathered the following
information:
Annual demand in units 250