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horngrens cost accounting a managerial emphasis

Questions and Answers of Horngrens Cost Accounting A Managerial Emphasis

Give examples of the bundling of products that give rise to revenue-allocation issues
Allocate the revenues of a bundled package to the individual products in that package
Provide additional information about the salesvolume variance by calculating the sales-mix and sales-quantity variances
Provide additional information about the salesquantity variance by calculating the market-share and market-size variances
Discuss why revenues can differ across customers purchasing the same product
Apply the concept of cost hierarchy to customer costing
Prepare a customer-profitability report
Revenue allocation, bundled products. Pebble Resorts operates a five-star hotel with a world-recognized championship golf course. It has a decentralized management structure.There are three
Revenue allocation, bundled products, additional complexities (continuation of 16-17).The individual items in the “getaway package” deal at Pebble Resorts are not frilly used by each guest.
Variance analysis of revenues, multiple products. The Penguins play in the North American Ice Hockey League. The Penguins play in the Downtown Arena, which has a capacity of 30,000 seats (10,000
7 Up using variances to read the market. The following is an excerpt from an article that appeared in a recent issue of a trade magazine:Remember about 30 years back, when 7 Up began describing
Variance analysis of contribution margin, multiple products; working backward. The Jinwa Corporation sells two brands of wine glasses—Plain and Chic. Jinwa provides the fol¬lowing information for
Variance analysis of revenues, multiple countries. Cola-King manufactures and sells cola soft drinks in three countries—Canada, Mexico, and the United States. The same product is sold in each
Customer profitability, service company. Instant Service (IS) is a repair service company specializing in the rapid repair of photocopying machines. Each of its ten clients pays a fixed monthly
Customer profitability, distribution. Figure Four is a distributor of pharmaceutical products.Its activity-based costing system has five activity areas:Activity Area Cost Driver and 2007 Rate 1.
Direct materials price, efficiency, mix and yield variances. (Chapter Appendix)Greenwood, Inc., manufactures apple products such as apple jelly and applesauce. It makes applesauce by blending Tolman,
Revenue allocation, bundled products. Athletic Programs (AP) sells exercise videos through television infomercials. It uses a well-known sporting celebrity in each video.Each celebrity receives a
Variance analysis, sales-mix and sales-quantity variances. Aussie Infonautics, Inc., produces handheld Windows-compatible organizers. Aussie Infonautics markets three different handheld models.
Variance analysis of contribution margin, multiple products. Debbie’s Delight, Inc., operates a chain of cookie stores. Budgeted and actual operating data of its three Calgary stores for August
Market-size and market-share variances (continuation of 16-30). Debbie’s Delight assumes a 10% market share of the Calgary market and a budgeted total Calgary market for August 2007 of 1,000,000
Revenue allocation, bundled products. Petale Parfum (PP) manufactures and sells upscale perfumes. In recent months, PP has started selling its products in bundled form, as well as in individual form.
Customer profitability, customer cost hierarchy. Ramish Electronics has two retail cus¬tomers and two wholesale customers. Pertinent information relating to each customer for 2008 follows (all
Customer profitability analysis. Zoots Suits is a ready-to-wear suit manufacturer with headquarters in Toronto. Zoot’s has three customers:April Department Stores, a large department store chain
Customer profitability, distribution. Spring Distribution has decided to analyze the profitability of another five customers (see pp. 640-648). It buys bottled water at $0.50 per bottle and sells to
Customer loyalty clubs and profitability’ analysis. The Sherriton Hotels chain embarked on a new customer loyalty program in 2007. The 2007 year-end data have been collected, and it is now time for
Direct materials price and efficiency variances, direct materials mix and yield variances.(Chapter Appendix) Tropical Fruits, Inc., processes tropical fruit into a fruit salad mix, which it sells to
Customer profitability, responsibility for environmental cleanup, ethics. Industrial Fluids, Inc. (IF) manufactures and sells fluids used by metal-cutting plants. These fluids enable metal-cutting to
Customer profitability, credit card operations. The Freedom Card is a credit card that competes with national credit cards such as VISA and MasterCard. Freedom Card is marketed by the Bay Bank. Mario
Define the following: (a) break-even point, (b) break-even chart, (c) profit contribution percentage, (d) profit-volume chart, and (e) contribution per unit.LO.1
What is the relevant range as it relates to break-even analysis?LO.1
Why is relevant range only a guide which must be used with caution?LO.1
Define and distinguish between variable and fixed costs.LO.1
Discuss the limitations of break-even analysis which arise out of the assumptions underlying break-even analysis.LO.1
What are cost-volume-profit relationships?LO.1
Define the term margin of safety as it relates to break-even analysis.LO.1
Any change in the data used in the break-even calculations will have an effect on the margin of the safety. Discuss.LO.1
If the traditional income statement has the same operating income and net income after taxes as the contribution income statement, why bother going to the trouble of separating the fixed and variable
Contrast operating leverage with financial leverage.LO.1
Of what value is the distinction between fixed and variable costs for planning and decisionmaking purposes?LO.1
Of what value is the distinction between fixed and variable costs for control purposes?LO.1
Break-even Calculations.The Best Company produces a single product to sell for $10 per unit. The company incurs$36,000 in fixed costs, and variable costs run $4 per unit.Required:a. Compute the
Break-Even Calculations.A company's budget shows sales of 300,000 units and revenues of $2,400,000. Variable costs are $1,200,000 and fixed costs are $900,000.Required:a. 1. What is the break-even
Projecting Profit and Break-Even Data.Aclient has recently leased manufacturing facilities for production of anew product. Based on studies made by his staff, the following data have been made
Break-Even After Income Taxes.The Wencam Company Ltd. produced and sold 55,000 units during 20x1. The following amounts were obtained from the financial statements for the year ended December 31,
Break-Even After Taxes and Two Levels of Output.The B.M. Company Limited had the following budgeted income statement based upon production and sales estimates of 20,000 units.Sales Noss che eas ene $
Calculation of Prediction Error.A company sets the price for its product at $300 per unit. Predicted variable costs are $175 per unit and fixed costs are expected to be $600,000 a year. Sales for the
A "Target" Price and Profit.The following data relate to the Howle Manufacturing Corporation for 20x2.Sales (30,000 units)............... $ 450,000 Returns, allowances, and discounts 13,500 NeR
Evaluation of Cost-Volume-Profit Relationships.Data for the year 20x7 are as follows:Sales, 150,000 units sold at $5 per unit.Variable costs, $3 per unit.Fixed costs, $200,000.Capital employed,
Calculate Break-Even, Margin of Safety and Decision-Making.The Nova Company produces only one product Grassnipper. The company has received an order from a large retail chain store for 10,000
A Problem in Decision-Making.The Middle-Atlantic Territory of the Flick Company has produced results for the past three years which average as follows:Sales Cost of goods sold-standard Gross profit
Significance of the Profit Contribution Percentage, Factors Impacting on the Profit Contribution Percentage.Assume the following:Present sales: $400,000 (100,000 units @ $4.00)Variable cost: $.72 per
Break-Even and Cost-Volume-Profit Analysis.The Magic Silicon Manufacturing Company produces a product called Slipitey Slide on a line in one of its plants. The following data have been collected
Effect on Profits of One-Price Approach to Selling Automobiles.The Sunday New York Times Business Section (October 11, 1992) contained a story("Moving Out the Cars With a “No-Dicker Sticker," p.
The basic principles and problems of budgeting including terminology, purpose, scope, budget period, responsibility for and ultimate goal of budgeting.LO.1
The difference between a flexible budget and a fixed or static budget.LO.1
Moving or rolling budget.
Return on invested capital as a part of the budgetary process, including alternative definitions of invested capital.LO.1
The details of budget preparation including budgets for sales revenve, production, expenses, cash receipts and disbursements, income statement and balance sheet.LO.1
How do variance reports help managers to improve the profits of their companies?LO.1
What is indicated by a debit balance in a variance account? A credit balance? A zero balance?LO.1
Name the eight usual variances of standard costing?LO.1
Discuss: "There is no conceptual difference between the direct materials price variance and the direct labor rate variance."LO.1
Discuss: "There is no conceptual difference between the direct materials usage variance and the direct labor efficiency variance."LO.1
Discuss the validity of an efficiency variance for fixed overhead.LO.1
Is it easier and less costly to record transfers to and from inventories under standard costing as opposed to actual costing? Discuss.LO.1
Is it easier and less costly to determine ending inventories under standard costing as opposed to actual costing? Discuss.LO.1
Is there any one point in the double entry process when each specific standard cost variance must be recognized? Discuss and include in your discussion the possibility of a best point for recognizing
Under process standard costs, is it necessary to calculate equivalent units in order to determine materials price and labor rate variances? Materials usage and labor efficiency variances.LO.1
Discuss: "To apply standard costs to job orders is a very costly procedure since standards must be developed for many more operations and sequences than under process standard costs."LO.1
How can target costs help managers to control costs if these costs apply to products that do not even exist yet?LO.1
What problems can a manager experience with standard cost variance reports if the manager continuously improves operations?LO.1
What disposition should be made of variances if the standards used for recording general ledger entries have been kept up-to-date?LO.1
What disposition should be made of a volume variance when normal volume is use as the activity level?LO.1
Only the budget variance for fixed manufacturing overhead differs when using varying volume levels to set up the fixed manufacturing overhead rate. Discuss.LO.1
The major viewpoints on the relationship between quality levels and company cost and the impact of quality improvements on profits.LO.1
How managers ensure quality with indices like C, and Ch.LO.1
The role of product design and supplier management in quality programs.LO.1
How management accountants can compute and report the cost of quality.LO.1
Differentiate between project-by-project orientation of capital budgeting and period-by-period orienta¬tion of accrual accounting
Identify the six stages of capital budgeting for a project and its predicted outcomes
Use and evaluate the two main discounted cash flow (DCF) methods, the net present value (NPV)method, and the internal rate-of-return (IRR) method
Use and evaluate how the two main discounted cash flow methods (NPV and IRR) differ
Identify relevant cash inflows and outflows for capital budgeting decisions that use DCF methods
Use and evaluate the payback method
Use and evaluate the accrual accounting rate-of-return (AARR) method.
List and briefly describe each ofthe six stages in capital budgeting.
Describe the accrual accounting rate-of-retum method. What are its main strengths and weaknesses?
Exercises in compound interest. To be sure that you understand how to use the tables in Appendix A at the end ofthis book, solve the following exercises. Ignore income tax consider¬ations. (The
Comparison of approaches to capital budgeting. The Building Distributors Group is thinking of buying, at a cost of $264,000, some new packaging equipment that is expected to save $60,000 in cash
Comparison of approaches to capital budgeting. City Hospital, a nontaxable institution, estimates that it can save $33,600 a year in cash operating costs for the next ten years ifit buys a
Capital budgeting with uneven cash flows. Eastern Cola is considering the purchase of a special-purpose bottling machine for $33,600. It is expected to have a useful life of seven years with a zero
Net present value, internal rate ofreturn, sensitivity analysis. TheJohnson Corporation is planning to buy equipment costing $144,000 to improve its materials-handling system. The equipment is
Comparison of projects, no income taxes. (CMA, adapted) Fox Valley Healthcare Inc.is a not-for-profit organization that operates eight nursing homes and ten assisted-living facilities. The company
Payback and NPV methods, no income taxes. (CMA, adapted) Cording Manufacturing is a small company that is currendy analyzing capital expenditure proposals for die purchase of equipment. The capital
Equipment replacement, net present value, relevant costs, payback. Monterey Corporation is a distributor of electronic measurement instruments. It is considering replacing one ofits dis¬tribution
DCF, accrual accounting rate of return, working capital, evaluation of performance.The Hammerlink Company has been offered a special-purpose metal-cutting machine for$132,000. The machine is expected
DCF, sensitivity analysis, no income taxes. (CMA adapted) Bristol Engineering Inc.manufactures electronic components for the automotive and computer industries and produces a variety of small
NPV and customer profitability, no income taxes. Christen Granite sells granite counter tops to the construction industry. Christen Granite has three customers:Homebuilders, a small construction
Equipment replacement, relevant costs, sensitivity analysis. A toy manufacturer that spe¬cializes in making fad items has just developed a $60,000 moulding machine for producing a special toy. The
Payback, net present value, relevant costs, sensitivity analysis. The city ofEdmonton has been operating a cafeteria for its employees, but it is considering converting it to a completely automated

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