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business
cost accounting

Questions and Answers of Cost Accounting

What are the primary factors that usually determine the units used in measuring work, and what criteria govern the selection of the most suitable units of measurement for all kinds of estimates?
Select and criticize the unit and method of measurement of one major class of construction work, according to the answer to the previous question.
Explain why the rule for adjusting one perimeter length to another perimeter length (for the same building) is always plus (or minus) four times, two times, the horizontal distance between the
State and explain the primary reasons behind the statement: It is in estimating the costs of earthworks that measured quantities are of the least significance.
Explain in detail why, in measuring cutting and filling over a site, the size of the overlaid grid squares should be selected according to the site’s topography.
Discuss why, in the prismoidal formula, four times the cross section at the center is used.
Define (a) a contour line, and (b) a cut-and-fill line.
Discuss ways of quantifying the effects of the following phenomena on construction labor costs: (a) weather,(b) temperature, (c) humidity, (d) under-employment(scarcity of work), and (e) an abundance
If trenches for foundations are to be excavated by equipment, explain why measurement of trench excavation by volume is not the most appropriate method, and suggest a more suitable alternative method
Explain why formwork to concrete walls is better measured by length, stating the wall height in the formwork’s description.
If cutting of concrete blocks with a masonry saw is necessary for blockwork in partitions, and if the amount of cutting substantially affects the labor costs of the blockwork, describe how you might
Which is the better way to measure sfructural steelwork for an estimate of costs? Explain your answer.
Describe a method of measurement for wood framing in buildings that is conducive to more accurate estimating of costs.
Describe the common physical features of roof coverings of all kinds that affect the amount of roofing materials installed, and also the labor costs.
List at least ren rules for the measurement of finishes that are conducive to more accurate estimates.
Discuss the proposition that estimators should measure and price secondary items of work, even though it ts recognized that in cost accounting such items cannot be isolated from the primary items,
Present arguments for and against the proposition that the measurement of work such as gypsum drywall finish should include both net and gross measurements of the work.
Present arguments for and against the proposition that plumbing work can be measured by enumeration only.
Using single-family dwelling costs as an example, discuss the proposition that costs can be better estimated by using Hvo estimating methods in conjunction: (1) using detailed measured quantities of
Outline the contents of software programs suitable for use in estimating construction costs by the fwo estimating approaches discussed: (1) using detailed quantities, and (2) using the building's
In measuring wood studs, explain how the number of studs in, say, the framed exterior walls of a house should be measured, with particular reference to the requirements for extra studs for any
Regarding slab screeds, (a) what is their purpose, (b)how are they installed, and (c) what is the best way to estimate the costs of slab screeds?
Formwork 1s generally measured by the “‘contact area’’in square feet. Explain in detail why this is so, and why formwork is not measured as other work is generally measured. Explain also, by
Explain precisely the differences between light bending and heavy bending of rebar. Which is the more expensive, and why?
Explain all the differences between ‘‘framed”’ and ‘‘unframed” structural steelwork, and why they should be distinguished in an estimate. Also, explain the primary considerations in
Why should carpentry cross-bridging be measured as a linear item, or enumerated in sets? Why not measure it in board feet in the same way most rough carpentry work is measured?
Explain fully the term raking cutting and waste, and explain how it can be measured and priced in an estimate and verified by cost accounting.
Discuss the proposition: Most errors in the measurement of rebar (apart from arithmetical errors) are errors of OMISSION.
Compare the two methods of measuring structural steelwork described in Chapter 8 as applied to the structural steelwork in the Warehouse. Which is the better method in this case? Which is the better
Compose a standard method of measurement for one of the following sections of work: Formwork for concrete; Rough carpentry; Structural steelwork. Assume that in the future all estimating will be done
Explain by figured examples how waste of gypsum wallboard may be dealt with in an estimate.
Discuss methods of measuring brick chimney stacks for cost estimating, indicating the advantages and disadvantages of each.
Explain how and why you would measure, for cost estimating purposes, the following items: (a) a sheetlead flashing at the apex of a conical church steeple, and (b) an elaborately turned (by lathe)
What is the best way to measure trenches for foundations, and why?
Identify and explain the application of two different factors (stated as percentages) required in analyzing the time for excavating a basement with a piece of equipment.
In considering economies to be made in the construction of a reinforced-concrete framed building, which specific costs of the work offer the greatest possibilities for reductions and why?
If a cast-in-place concrete structure cost an average of$200.00 per cubic yard of reinforced concrete, formed and placed, indicate the approximate and proportionate costs (per cubic yard) of the
Show by an example the analysis of a wnit price for a 6-in.-thick conc blk ptn wall, assuming the conc blks cost $1.00 each; the cmt mtr, $60.00 per CY; and the mason, $15.00 per hour.
Describe briefly two ways of measuring and _ pricing structural steelwork, and explain why one should be more accurate than the other.
Analyze unit prices for framed floor joists, sizes 2 * 6 and 2 x &, for comparison, and explain if and why one should cost more than the other.
In accounting for and recording the costs of built-up roofing for future estimating, state the main job conditions you would want to record to explain and qualify your cost data.
Sketch a nwo-light aluminum window with an opening vent, showing the several dimensions (of your choice), and measure the various items that you as an estimator with a window manufacturer would have
Describe the major considerations in estimating the costs of finish work generally classified herein as tile work.
Describe in detail how the costs of plumbing work can be estimated by use of published data on prices and productivity.
Estimate the amount of time required for a carpenter to do the following job: Cut an opening through the exterior wall of a wood-framed, single-story house (built in 1965), with a wood siding
Estimate the amount of time required by a crew of carpenters to frame a hipped roof on a single-story house with an L-shaped plan area of 1000 square feet, and consisting of 3000 FBM of 2 x 6 and 2 x
State three possible arguments against the institution of cost accounting in a construction company, and State three counter-arguments for its institution.
Present an argument for the use of cost accounting by a construction company that obtains most of the work it does by negotiating rather than by competitive bidding.
Who should allocate workmen's time to the items of work done for cost accounting, and why?
Compose a suitable cost code for concrete work by a general contractor, briefly indicating and explaining the main features of the code.
Explain briefly the differences between basic items of work and particular items of work as they are included in and affect construction specifications and cost codes.
Show the arrangement and column headings of a daily labor distribution report suitable for a construction firm doing a great variety of work.
Explain briefly the problems of accounting for framing lumber on a construction job, and what should be done to make the accounting as accurate as possible.
What makes cost accounting in the construction industry unique, and what site activities are usually essential to it?
Discuss the main features and practices of cost accounting for plant and equipment costs.
In measuring conc ftgs for cost accounting it is found that, although the drawings show conc ftgs to be 24 in. wide, the actual widths are from 25 to 26 in. State which widths you would record to
Illustrate and explain by an example the effects of cutting concrete blocks on the costs of masonry work and how the costs of cutting blocks are best dealt with in estimating and cost accounting.
Devise a method for estimating and accounting for the labor time required to install various kinds of wood trim (baseboard, casings, etc.).
Define a relevant cost. For a hospital considering the purchase of a new X-ray machine, what would be examples of the relevant costs of the purchase decision? What would be one of the alternatives to
What are the characteristics of a relevant cost? Why are future costs not always relevant? Are all relevant costs found in accounting records? Explain.LO1
What is an opportunity cost? In a make-or-buy decision, what opportunity cost may be associated with the production facilities?LO1
Which are more important in decision making: quantitative or qualitative factors? Why? Flow can qualitative factors be explicitly considered in making a decision?LO1
Can a particular cost be relevant for one purpose, but not for other purposes? Give three examples where this would be the case.LO1
Are sunk costs ever relevant in decision making? If so, give one or more ex¬ amples. If not, explain why.LO1
You are considering the sale of your old stereo system. According to your rec¬ ords, you paid $500 for the stereo system. The current market value of the stereo is $150. A new stereo of the same
Kelly O’Riley, owner ofJuanita’s Mexican Cafe, is trying to decide whether to make tortillas or buy them from a supplier, Ricardo’s Super Mercado. Kelly has come to you for advice. What factors
What is a scarce resource? Why will the resource that is most scarce in an organization be likely to change from time to time?LO1
Why is the effect of a sales price change on volume partly determined by the elasticity of demand for the product?LO1
What is the special order decision? What are typical circumstances that lead to the need to make this decision?LO1
What are differences among avoidable fixed costs, sunk direct fixed costs, and common fixed costs? Which are relevant and which are irrelevant in the decision to keep or eliminate a particular
Lazlow Optical Manufacturing produces a line of single-reflex cameras. Cor¬ porate records reveal that one of the mid-priced cameras is producing a negative segment margin. Before discontinuing
Are segment margin or product line operating results more important in product line decisions? Why?LO1
(Appendix) Why is linear programming used in business organizations?LO1
(Appendix) What are two typical objective function expressions that are stated in terms of accounting information?LO1
(Appendix) What are nonnegativity constraints in the linear programming model? Why is it not necessary that they be specified for every linear programming problem?LO1
(Appendix) What is the difference between a feasible solution and an optimal solution?LO1
(Appendix) “Resource constraints are always inequalities.” Is this statement true or false? Why?LO1
(Appendix) What is the difference between a slack variable and a surplus variable? Can each exist in the same linear programming problem? If so, discuss how; if not, discuss why.LO1
(Relevant costs) Assume that you are about to graduate from your university. You are currently trying to decide whether to apply for graduate school or enter the job market. To help make the
(Relevant costs) Prior to the 1996 NBA finals, a Houston area clothes retailer purchased 25,000 T-shirts that read: Houston Rockets—Three-Peaters. The company paid, on average, $12.50 for each of
(Asset-replacement decision) Certain production equipment used in Hatare’s Ca¬ nadian plant have become obsolete relative to current technology. T he company is considering whether it should keep
(Asset-replacement decision) Lawton Energy Company purchased new computer scheduling software on April 1, 1998, for $40,000 to manage its production. On May 15, 1998, a representative of a
(Make-or-buy decision) Bozeman Plastics manufactures plastic housings for com¬ puter printers. One of the parts required to manufacture a printer case is a metal latch. Currently Bozeman produces
(Make-or-buy decision) Edson Automotive Accessories produces bumpers for pickup trucks, which are sold on a wholesale basis to new-car retailers. The average sales price of a bumper is $75. Normal
(Make-or-buy decision) The Pneu Shoe Company manufactures various types of shoes for sports and recreational use. Several types of shoes require a built-in air pump. Presently, the company makes all
(Allocation of scarce resource) Because the plant of its major competitor burned to the ground on July 4, Detroit Wheel Company has found itself operating at peak capacity. The firm makes two
(Allocation ofscarce resources) John Henry received his accounting degree in 1972. Since receiving his degree, Mr. Henry has obtained significant experience in a variety of job settings. His skills
(Special order decision) Really Wired produces 18-gauge barbwire, which is retailed through farm supply companies. Presently, the company has the capacity to produce 2,000 tons of wire per year. The
(Special order decision) Been Framed produces high-quality picture frames. Each frame is hand-made and hand-finished using the finest materials available. The firm has been operating at capacity for
(Sales mix decision) Poodle Pound provides two types of services to dog owners: grooming and training. All company personnel can perform either service equally well. To expand sales and market share,
(Sales mix decision) One of the products produced and sold by Denver Chemical Company is a 90-quart cold drink cooler. The company’s projections for this product for 1999 follow.a. Compute the
(Product line decision) North American Toy Company’s operations are separated into two geographical divisions: the United States and Mexico. The operating results of each division for 1998 are
(Product line decision) The management of Montgomery Steel Corporation pro¬ duces three products: wire, tubing, and sheet metal. The company is currently contemplating the elimination of the tubing
(Appendix) The variable costs for four different products are $.65, $.93, $1.39, and $.72. State the objective function in equation form to minimize the variable costs.LO1
(Appendix) Carolina Textiles makes three items: pants, shorts, and shirts. The contribution margins are $3.25, $2.05, and $2.60 per unit, respectively. The manager must decide what mix of clothes to
(Appendix) Janet Terwilliger is a college student and has set a budget of $120 per month for food. She wants to get a certain level of nutritional benefits from the food she has selected to buy. The
(Relevant vs. sunk costs) Your friend, Bill Hawkins, purchased a new combination phone and answering machine just prior to the start of this school term. He paid COMMUNICATION $95 for the equipment.
(Time and relevant costs) The following are costs associated with a product line of Turnbull Mechanical Systems. The costs reflect capacity-level production of 45,000 units per year.Prepare a written
(Relevant costs) An analysis of GM’s labor costs at its parts plant in Dayton, Ohio, provides evidence of one source of the firm’s competitive problems. Its UAW employees are provided fringe
(Asset-replacement decision) The manager, Diane Blocker, of the Plastics Fabri¬ cation Division of Balsom Chemical Corporation, has heard about a new ex¬ truding machine on the market that could

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