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horngrens cost accounting a managerial emphasis

Questions and Answers of Horngrens Cost Accounting A Managerial Emphasis

Variable manufacturing overhead variance analysis. The French Bread Company bakes baguettes for distribution to upscale grocery stores. The company has two direct-cost categories, direct materials
Fixed manufacturing overhead variance analysis (continuation of 8-18). The French Bread Company has two direct-cost categories, direct materials and direct manufacturing labour. Fixed manufacturing
Manufacturing overhead, variance analysis. Zyton assembles its CardioX product at its Scottsdale plant. Manufacturing overhead (both variable and fixed) is allocated to each CardioX unit using
Spending and efficiency overhead variances, service sector. Home Cooking (HC)operates a home meal delivery service. It has agreements with 20 restaurants to pick up and deliver meals to customers who
1. At the top of a new spreadsheet, create an “Original Data” section for the data provided for Home Cooking, with rows labelled “Output Units (number of deliveries),” “Hours of Delivery
Four-variance analysis, fill in the blanks. Use the given manufacturing overhead data to fill in the blanks.Variable Fixed Actual costs incurred $14,280 $7,200 Allocated to products 10,800 5,400
Straightforward four-variance overhead analysis. The Lopez Company uses a standardcost system in its manufacturing plant for auto parts. Its standard cost of an auto part, based on a denominator
Straightforward coverage of manufacturing overhead, standard cost system. The Singapore division of a Canadian telecommunications company uses a standard cost system for its machine-based production
Total overhead, three-variance analysis. The Atlantic Canada Air Force Base has an exten¬sive repair facility for jet engines. It developed standard costing and flexible budgets to account for this
Four-variance analysis, working backwards. Fookmeup.com is striving to become a Web portal. The site allows surfers to find anything they want to look up—be it a person, a site, a company, or news
Overhead variances, missing information. Blakely Printing prepared its budget at 10,000 machine hours. Blakely reported a $900 unfavourable spending variance for fixed overhead and a $300
Variance analysis, graphs. Homer Metal Stamping budgets and allocates overhead costs using machine-hours. Homer’s budget for 2007 was 10,000 machine-hours. Following is additional information
Comprehensive review ofChapters 7 and 8, static budget. The Monthly Herald budgets to produce 300,000 copies of its monthly newspaper for August 2007. It is budgeted to run 15,000,000 print pages in
Comprehensive review ofChapters 7 and 8, flexible budget (continuation of 8-30).Required 1. Prepare a comprehensive set of variances for each of the four categories of cost of The Monthly Herald.2.
Graphs and overhead variances. The Carvelli Company is a manufacturer of housewares.In its job-costing system, manufacturing overhead (both variable and fixed) is allocated to products based on
Journal entries (continuation of 8-32). Refer to requirement 2. Consider variable manu¬facturing overhead and then fixed manufacturing overhead.Required Prepare the journal entries for (a) the
Variance analysis for an activity area. CellOne is a cellular phone service reseller, contracting with major cellular operators for airtime in bulk and then reselling service to retail customers.
Four-variance analysis, find the unknowns. Consider each of the following situations—cases A, B, and C—independently. Data refer to operations ofApril 2007. For each situation, assume a
Working backward from given variances. The Mancusco Company uses a flexible budget and standard costs to aid planning and control of its manufacturing operations. Its normal costing system for
Flexible budgets, four-variance analysis. (CMA, adapted) Nolton Products uses a standard¬costing system. It allocates manufacturing overhead (both variable and fixed) to products based on standard
Overhead analysis. Armstrong Corporation uses standard costing. The following information is for 2007:Static-budget machine-hours 33,000 Fixed overhead budget costs $ 5,940,000 Fixed overhead actual
Sales-volume variance, production-volume variance. Morano Company prepared its budgeted output and sales at its maximum capacity of 20,000 units for 2007. However, due to efficiency improvements,
Activity-based costing, variance analysis. Asma Surgical Instruments, Inc., makes a special line of forceps, SFA, in batches. Asma randomly selects forceps from each SFA batch for quality¬testing
Comprehensive variance analysis. FlatScreen manufactures flat-panel LCD displays. The displays are sold to major PC manufacturers. Following is some manufacturing overhead data for FlatScreen for the
Journal entries (continuation of 8-41).Required 1. Prepare appropriate journal entries for variable and fixed manufacturing overhead (you will need to calculate the different variances to accomplish
Review ofChapters 7 and 8, three-variance analysis. (CPA, adapted) The Beal Manufacturing Company’s job-costing system has two direct-cost categories, direct materials and direct manufacturing
Variance analysis for ABC. Starport manufactures and launches space stations. The stations are custom-made according to specifications furnished by the ordering party.Starport has adopted an ABC
Hospital overhead variances, four-variance analysis. The Sharon Hospital, a large metro¬politan health-care complex, has had difficulty controlling its accounts receivable. Costs cur¬rently
Standard setting, benchmarking, ethics (continuation of 8-45). Ira Stone, the president of Sharon Hospital, has a meeting with the Medical Economics Group (MEG). MEG is a consulting firm in the
Recognize which of two generic strategies a company is using
Understand the process of reengineering
Distinguish among the four perspectives of the balanced scorecard
Analyze changes in operating income to evaluate strategy
Distinguish between engineered and discretionary costs
Identify and manage unused capacity
Define strategy.
Describe the five key forces when analyzing an industry.
How can an analyst incorporate marketwide factors and the interrelationships between the growth, price-recovery, and productivity components into a strategic analysis of operating income?
“The distinction between engineered and discretionary costs is irrelevant when identifying unused capacity.” Do you agree? Comment briefly.
What is total factor productivity?
“We are already measuring total factor productivity. Measuring partial productivities would be of no value.” Do you agree? Comment briefly.EXERCISES
Balanced scorecard. La Quinta Corporation manufactures corrugated cardboard boxes. It competes and plans to grow by producing high-quality boxes at a low cost that are delivered to customers in a
Analysis of growth, price-recovery, and productivity components (continuation of 13-16). An analysis of La Quinta’s operating income changes between 2006 and 2007 shows the following:The industry
Strategy, balanced scorecard. Meredith Corporation makes a special-purpose D4H machine used in the textile industry. Meredith has designed the D4H machine for 2007 to be distinct from its
Strategic analysis of operating income. Refer to the information in Exercise 13-18.Required 1. Calculate the operating income ofMeredith Corporation in 2006 and 2007.2. Calculate the growth,
Analysis of growth, price-recovery, and productivity components (continuation of 13-19). Suppose that between 2006 and 2007 the market for Aleredith’s special-purpose machines grew at 3%, and that
Identifying and managing unused capacity. Refer to the Meredith Corporation informa¬tion in Exercise 13-18.Required 1. Where possible, calculate the amount and cost of unused capacity for (a)
Strategy, balanced scorecard, service company. Snyder Corporation is a small, information systems consulting firm that specializes in helping companies implement sales management software. The market
Strategic analysis of operating income. Refer to the information in Exercise 13-22.Required 1. Calculate the operating income of Snyder Corporation in 2006 and 2007.2. Calculate the growth,
Analysis of growth, price-recovery, and productivity components (continuation of 13-23). Suppose that during 2007 the market for implementing sales management software increased by 5%, and that
Balanced scorecard. Following is a random-order listing of perspectives, strategic objec¬tives, and performance measures for the balanced scorecard.Perspectives Performance Measures Internal
Growth, price-recovery, and productivity components. Oceano T-Shirt Company sells a variety of T-shirts. Oceano presents the following data for its first two years of operations, 2006 and 2007. For
Balanced scorecard. Caltex Inc. refines gasoline and sells it through its own Caltex Gas Stations. On the basis of market research, Caltex determines that 60% of its customers(medium- to high-income
Balanced scorecard. Lee Corporation manufactures various types of colour laser printers in a highly automated facility with high fixed costs. The market for laser printers is competitive. The various
Analysis of growth, price-recovery, and productivity components. Halsey and Company sells women’s clothing. Halsey’s strategy is to offer a wide selection of clothes and excellent customer
Analysis of growth, price-recovery, and productivity components. Winchester Corporation manufactures special ball bearings. In 2007, it plans to grow and increase operat¬ing income by capitalizing
Engineered and discretionary overhead costs, unused capacity, repairs and maintenance.Rowland Corporation manufactures gears using turning machines. In 2007, Rowland’s turning machines operated for
Engineered and discretionary overhead costs, unused capacity, customer help-desk.Cable Galore, a large cable television operator, had 750,000 subscribers in 2007. Cable Galore employs five
Partial productivity measurement. (Chapter Appendix) Berkshire Corporation makes small steel parts. Berkshire management has some ability to substitute direct materials for direct manufacturing
Total factor productivity (continuation of 13-34). Use the data given for Berkshire Corporation in Problem 13-34.Required 1. Compute Berkshire Corporation’s total factor productivity in 2007.2.
Balanced scorecard, ethics. John Emburey, division manager of the Household Product Division, a maker of kitchen dishwashers, had just seen the balanced scorecard for his division for 2007. He
Downsizing. (GMA, adapted) Mayfair Corporation currently subsidizes cafeteria services for its 200 employees. Mayfair is in the process ofreviewing the cafeteria services as cost-cutting measures are
Identify the key feature that distinguishes variable costing from absorption costing
Prepare income statements using absorption costing and variable costing
Explain differences in operating income under absorption costing and variable costing
Differentiate throughput costing from variable costing and absorption costing
Describe the various capacity concepts that can be used in absorption costing
Explain how the choice of denominator level affects reported operating income and inventory costs
Understand the major factors managers consider in choosing a capacity level to compute the budgeted fixed overhead cost rate
Describe how attempts to recover fixed costs of capacity may lead to price increases and lower demand
What are the factors that affect the breakeven point under variable costing?
Why might throughput costing be also called super-variable costing?
Critics of absorption costing have increasingly emphasized its potential for promoting undesir¬able incentives for managers. Give an example.
Describe the downward demand spiral and its implications for pricing decisions.
Will the financial statements of a company always differ when different choices at the start of the period are made regarding the denominator-level capacity concept?
Which denominator-level concepts emphasize what a plant can supply? Which denominatorlevel concepts emphasize what customers demand for products produced by a plant?
Name one reason why many companies prefer the master-budget capacity utilization-level concept rather than the normal capacity utilization-level concept.EXERCISES
Variable and absorption costing, explaining operating income differences. Nascar Motors assembles and sells motor vehicles. It uses an actual costing system, in which unit costs are calculated each
(p. 329), set up an income state¬ment using the contribution-margin format by creating rows for “Revenues,” “Beginning Inventory,” “Variable Manufacturing Costs,” “Cost of Goods
Throughput costing (continuation of 9-16). The unit variable manufacturing costs of Nascar Motors are April May Direct materials $8,040 $8,040 Direct manufacturing labour 1,500 1,5 00 Manufacturing
Variable and absorption costing, explaining operating income differences. BigScreen Corporation manufactures and sells 50-inch television sets. It uses an actual costing system, in which unit costs
Throughput costing (continuation of 9-18). The unit variable manufacturing costs of BigScreen Corporation are as follows:January February March Direct materials $ 680 $ 680 $ 680 Direct manufacturing
Absorption and variable costing. (CMA) Osawa, Inc., planned and actually manufactured 200,000 units of its single product in 2007, its first year of operation. Variable manufacturing costs were $24
Comparison of actual costing methods. The Rehe Company sells its razors at $3.60 per unit.The company uses a first-in, first-out actual costing system. A new fixed manufacturing over¬head allocation
Income statements. (SMA) The Mass Company manufactures and sells a single product.The following data cover the two latest years of operations:2006 2007 Unit data:Sales Beginning inventory Ending
\ariable costing versus absorption costing. The Mavis Company uses an absorption costing system based on standard costs. Ibtal variable manufacturing costs, including direct materials costs, were
Variable vs. absorption costing. The Zwatch Company manufactures trendy, high-quality, moderately priced watches. As Zwatch’s senior financial analyst, you are asked to recommend a method of
Absorption vs. variable costing. Sonnenheim Bamberger is a German pharmaceutical company that provides a single drug—Mimic —for the treatment of hair loss in men.Sonnenheim began commercial
Throughput costing (continuation of Exercise 9-26). Sonnenheim is concerned with the inventory buildup in 2007. It receives advice from a consultant to use throughput costing.Required 1. Calculate
Capacity management, denominator-level capacity concepts. Each of the following items is identified by a number:1. Should be used for performance evaluation 2. Measures the denominator level in terms
Denominator-level problem. The Spalding Sails company produces the Spalding 26, a very popular 8-metre recreational yacht. Spalding Sails takes pride in the high quality they build into their
Alternative denominator-level concepts. Lucky Lager recently purchased a brewing plant from a bankrupt company. It was constructed only two years ago. The plant has budgeted fixed manufacturing
Operating income effects of alternative denominator-level concepts (continuation of 9-30). In 2007, the brewery of Lucky Lager showed these results:Unit data in barrels:Beginning inventory,January 1,
Standard absorption, variable, and throughput costing. (CMA) The Byrd Company is a manufacturer of appliances for both residential and commercial use. The company’s accounting and financial
The All-Fixed Company. (R. Marple, adapted) It is the end of 2007. The All-Fixed Company began operations in January 2006. The company is so named because it has no variable costs. All its costs are
The Semi-Fixed Company. The Semi-Fixed Company began operations in 2006 and differs from the All-Fixed Company (described in Problem 9-3 3) in only one respect: it has both variable and fixed
Comparison ofvariable costing and absorption costing. Consider the following data:Hinkle Company Income Statement for the Year Ended December 31,2007 Variable Costing Absorption Costing Revenues
Inventory costing and management planning. It is November 30, 2007. Consider the income statement (shown below) for the operations of Industrial Products, Inc., forJanuary through November
Some additional requirements for Problem 9-36; absorption costing and productionvolume variances.Required 1. What operating income will be reported for 2007 as a whole, assuming that the implied cost
Effects of denominator-level concept choice. The Wong Company installed standard costs and a flexible budget onJanuary 1, 2007. The president was pondering how fixed manufacturing overhead should be

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