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horngrens cost accounting a managerial emphasis

Questions and Answers of Horngrens Cost Accounting A Managerial Emphasis

=+3 Show how the break-even point in units changes with the following customer mixes:
=+2 If the sales mix is attained, what is the profit when 200000 units are sold?
=+4-28 KKK Sales mix, new and upgrade customers OBJECTIVES 1, 2, 4, 7 Ziggy 1-2-3 is a top-selling electronic spreadsheet product. Ziggy is about to release version 5.0. It divides its customers into
=+2 What is the operating profit when sales total 9000 skirts?
=+4-27 KK Sales mix OBJECTIVES 1, 2, 7 Jane’s Clothing Design sells skirts for girls and women. The average selling price and variable cost for each product are as follows:Girls’ skirts Women’s
=+2 If Knitwear Ltd plans to produce and sell 75000 woollen coats in 2015, what is the budgeted profit for each of the three manufacturing locations? Comment on the results.
=+4-26 K CVP analysis, international cost structure differences OBJECTIVES 1, 2, 4, 5 Knitwear Ltd is considering three countries for the sole manufacturing site of its new woollen coat: Singapore,
=+4 Briefly explain and interpret your answer to requirement 3.
=+3 Calculate the degree of operating leverage at sales of 100 units for the two rental options.
=+b For what range of unit sales will Rainbow Rugs prefer option 2?
=+a For what range of unit sales will Rainbow Rugs prefer option 1?
=+2 At what level of revenues will Rainbow Rugs earn the same profit under either option?
=+4-25 KK Operating leverage OBJECTIVES 1, 2, 4, 5, 6 Rainbow Rugs is holding a two-week carpet sale at Terry’s Club, a local warehouse store. Rainbow Rugs plans to sell carpets for$500 each. The
=+3 Suppose 95000 units are sold. Calculate the margin of safety in units and dollars.
=+2 Calculate the selling price if variable costs are $16 per unit.
=+4-24 K CVP analysis, margin of safety OBJECTIVES 1, 2, 4 Suppose Germaine Ltd’s break-even point is revenues of $1100000. Fixed costs are $660000.Required 1 Calculate the contribution margin
=+c Comment on the results.
=+b increasing the listed bookstore price to $40 while keeping the bookstore margin at 30%
=+a decreasing the normal bookstore margin to 20% of the listed bookstore price of $30
=+3 Examine the sensitivity of the break-even point to the following changes:
=+2 How many copies must Media Publishers sell to: (a) break even and (b) earn a target profit of $2 million?
=+4-23 KK CVP analysis, sensitivity analysis OBJECTIVES 1, 2, 4, 5 Kevin Fraser is the newly elected leader of the United Party. Media Publishers is negotiating to publish Fraser’s Manifesto, a new
=+3 Calculate net profit after tax if the number of customers is 150000.
=+2 How many customers are needed to break even? To earn net profit after tax of $105000?
=+4-22 KK CVP analysis, income taxes OBJECTIVES 1, 2, 3 The Fast Meal has two restaurants that are open 24 hours a day. Fixed costs for the two restaurants together total $450000 per year. Service
=+2 Chong Motors has a target monthly net profit after tax of $73500. What is its target monthly profit? How many cars must be sold each month to reach the target monthly net profit after tax of
=+4-21 K CVP analysis, income taxes OBJECTIVES 1, 2, 3 Chong Motors is a small car dealership. On average, it sells a car for $24000, which it purchases from the manufacturer for$20000. Each month,
=+6 a 10% increase in selling price and a $20000 increase in fixed costs
=+Calculate the new break-even point in units for each of the following changes:5 a 10% increase in fixed costs
=+3 a 10% increase in fixed costs and a 10% increase in units sold 4 a 20% decrease in fixed costs, a 20% decrease in selling price, a 10% decrease in variable cost per unit and a 40% increase in
=+2 a $0.04 per unit increase in variable costs
=+b What is the present break-even point in revenues?Calculate the new profit for each of the following changes:
=+4-20 K CVP exercises OBJECTIVES 1, 2, 4, 5 Doral Ltd manufactures and sells pens. Currently, 5000000 units are sold per year at $0.50 per unit. Fixed costs are $900000 per year. Variable costs are
=+4 Sunshine Travel’s variable costs are $40 per ticket. It receives $60 commission per ticket from Virgin Blue. It charges its customers a delivery fee of $5 per ticket. Comment on the results.
=+3 Sunshine Travel’s variable costs are $40 per ticket. Virgin Blue pays $60 fixed commission per ticket to Sunshine Travel. Comment on the results.
=+2 Sunshine Travel’s variable costs are $40 per ticket. Virgin Blue pays Sunshine Travel 6% commission on ticket price.
=+1 Sunshine Travel’s variable costs are $43 per ticket. Virgin Blue pays Sunshine Travel 6% commission on ticket price.
=+4-19 KK CVP analysis, changing revenues and costs OBJECTIVES 2, 4, 5 Sunshine Travel Agency specialises in tour tickets between Perth and Fiji. It books passengers on Virgin Blue. Sunshine
=+8 a 5% increase in fixed costs and a 5% decrease in variable costs
=+7 a 10% increase in fixed costs and a 10% increase in units sold
=+6 an 8% decrease in units sold
=+5 an 8% increase in units sold
=+4 a 5% decrease in fixed costs
=+3 a 5% increase in fixed costs
=+2 a 10% decrease in contribution margin, holding revenues constant
=+4-18 K CVP exercises OBJECTIVE 1 The Magic Donut owns and operates six doughnut outlets in and around Melbourne. You are given the following corporate budget data for next year:Revenues $10 000 000
=+3 Should Garrett accept Kimberley’s proposal? Explain.M04_HORN3377_02_LT_C04.indd 153 2/09/13 3:22 PM
=+How would acceptance of Kimberley’s proposal affect your answers to (a) and (b) in requirement 1?
=+2 Garrett’s current manufacturing process is labour intensive. Kimberley Smith, Garrett’s production manager, has proposed investing in state-of-the-art manufacturing equipment, which will
=+4-17 K CVP calculations OBJECTIVES 1, 5 Garrett Manufacturing sold 410000 units of its product for $68 per unit in 2014. Variable cost per unit is $60 and total fixed costs are $1640000.Required 1
=+4-16 K CVP calculations OBJECTIVE 1 Fill in the blanks for each of the following independent cases:Case Revenues Variable costs Fixed costs Total costs Operating profit Contribution margin
=+4-15 How do you apply CVP analysis in service and not-for-profit organisations?
=+4-14 How can a company with multiple products calculate its break-even point?
=+implication of your answer for CVP analysis?
=+4-13 ‘There is no such thing as a fixed cost. All costs can be “unfixed” given sufficient time.’ Do you agree? What is the
=+4-12 What is operating leverage? How is knowing the degree of operating leverage helpful to managers?
=+4-11 Give an example of how a manager can increase variable costs while decreasing fixed costs.
=+4-10 Give an example of how a manager can decrease variable costs while increasing fixed costs.
=+4-9 What is sensitivity analysis? How has the advent of the electronic spreadsheet affected the use of sensitivity analysis?
=+4-8 How does an increase in the income tax rate affect the break-even point?
=+4-7 ‘CVP analysis is both simple and simplistic. If you want realistic analysis to underpin your decisions, look beyond CVP analysis.’ Do you agree? Explain.
=+4-6 Why is it more accurate to describe the subject matter of this chapter as CVP analysis rather than as break-even analysis?
=+4-5 Describe three methods that can be used to express CVP relationships.
=+4-4 Define contribution margin, contribution margin per unit and contribution margin percentage.
=+4-3 Distinguish between profit before tax and net profit after tax.
=+4-2 Describe the assumptions underlying CVP analysis.
=+4-1 Define cost–volume–profit analysis.
=+2 How does Qantas’s revised payment schedule affect your answers to (a) and (b) in requirement 1?
=+Qantas has just announced a revised payment schedule for all travel agents. It will now pay travel agents a 10% commission per package up to a maximum of $50. Any package costing more than $500
=+Adventure Travel Agency specialises in tour packages between Melbourne and Alice Springs. It books passengers on Qantas at $900 per round-trip package. Until last month, Qantas paid Adventure
=+How can CVP analysis be applied to a product that has multiple cost drivers?
=+How can CVP analysis be applied to a company producing multiple products?
=+How should managers choose between different variable cost/fixed cost structures?
=+How can managers determine the break-even point or the output needed to achieve a target profit?
=+How can CVP analysis assist managers?
=+8 Adapt CVP analysis to situations in which a product has more than one cost driver
=+7 Apply CVP analysis to a company producing multiple products
=+6 Use CVP analysis to plan variable and fixed costs
=+5 Explain how sensitivity analysis helps managers cope with uncertainty
=+4 Describe how managers use CVP analysis in decision making
=+3 Describe how income taxes affect CVP analysis
=+2 Determine the break-even point and output level needed to achieve a target profit
=+Describe the features of cost–volume–profit (CVP) analysis
=+4 What should Richard Burns do next?
=+3 Why would Pure Tone have a corporate policy against such payments?
=+2 When Burns described his experience to his friend Anthony Corder, who managed international business development for another company, Corder said that his own ‘personal philosophy’ was to
=+around the world, the assistant said: ‘Mr Burns, I guarantee that Pure Tone’s bid will be accepted if you pay a $1 million commission.Of course, your excellent proposal doesn’t have to be
=+emails and telephone calls to the ministry, there was no news on the bids or the project from the Sandos government.Richard Burns, Director of Global Operations for Pure Tone, contacted the
=+1-31 KKK Global company, ethical challenges OBJECTIVE 9 In June 2013 the government of Sandos invited bids for the construction of a mobile telephone network. Pure Tone, an experienced
=+3 What should the management accountant do about the CEO’s suggestions? What should the management accountant do if the CEO refuses to change the suggestions?
=+2 From the point of view of the CIMA Code of Ethics for Professional Accountants, which of the items in a–g above are acceptable to Trade Issue’s management accountant? Which are unacceptable?
=+d delay recording purchases of office supplies on account until after financial year-end 26 Chapter 1: Management accounting in context M01_HORN3377_02_LT_C01.indd 26 2/09/13 3:15 PM e recording
=+price of the shares to drop. The CEO suggests the following ideas to various managers to try to increase reported earnings by the end of the financial year:a delaying recording of cancelled
=+1-30 KK Professional ethics and earnings management OBJECTIVE 9 Trade Issue Pty Ltd is a publishing company that produces trade magazines. The company’s shareholders are awaiting the announcement
=+3 What should Sommers do if Haast suggests that these end-of-financial-year actions are taken in every division of Superior Foods and that she will greatly harm the snack foods division if she does
=+2 The division management accountant is deeply troubled and reads the CIMA Code of Ethics for Professional Accountants.Classify each of the end-of-financial-year actions (a–g) as acceptable or
=+1 Why might the snack foods division director want to take these end-of-financial-year actions?
=+f deferring the current period’s reported advertising costs by having Superior Foods’ outside advertising agency delay billing June advertisements until July or by having the agency alter
=+e deferring the current period’s advertising by reducing the number of television spots run in June and running more than planned in July
=+accepted by the previous division management accountant:a deferring June’s routine monthly maintenance on packaging equipment by an independent contractor until July b extending the close of the

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