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horngrens cost accounting a managerial emphasis

Questions and Answers of Horngrens Cost Accounting A Managerial Emphasis

Describe two ways in which unit-cost data can mislead a decision maker.LO1
When are variable costs irrelevant?LO1
"A component part should be purchased whenever the purchase price is less than its total unit manufacturing cost." Do you agree? Why?LO1
Define opportunity cost.LO1
"Managers should always buy inventory in quantities that result in the lowest purchase cost per unit." Do you agree? Why?LO1
"Management should always maximize sales of the product with the highest contribution margin per unit." Do you agree? Why?LO1
"A customer, branch, or business segment that shows negative operating income should be shut down." Do you agree? Explain briefly.LO1
"Cost written off as amortization is always irrelevant." Do you agree? Why?LO1
"Managers will always choose the alternative that maximizes operating income or minimizes costs in the decision model." Do you agree? Why?LO1
Describe the three steps in solving a linear programming problem.LO1
How might the optimal solution of a linear programming problem be determined?LO1
Relevant and irrelevant costs. Answer the following questions.1, Unit relevant cost, $200 REQUIRED 1. Dalton Computers makes 5,000 units of a circuit board, CB76, at a cost of $230 each.CHAPTER 11 ;
‘The careening personal computer. (W. A. Paton) An employee in the accounting depart- @ment of a certain business was moving a personal computer from one room to another. As he came alongside an
Equipment upgrade versus replacement. (A. Spero, adapted) TechMech Company pro- ©duces and sells 6,000 modular computer desks per year at a selling price of $500 each. Its | ota) uporade relevant
Relevance of equipment costs. Sparkles Ltd. has just today paid for and installed a special.machine for polishing cars at one of its several outlets. It is the first day of the company’s fiscal
Closing and opening stores. Sundry Corporation runs two convenience stores, one in Vancouver and one in Surrey. Operating income for each store in 2010 follows:The equipment has a remaining useful
Open a store. (CMA, adapted) Voltaire, a renowned pastry chef employed at a four-star hotel, has decided to open his own exclusive pastry shop. He has $100,000 to invest and the information he has
Sell or process further. (J. Watson) Xylon Processing Limited is a chemical manufacturer. Two chemicals, Aardyn and Gargaton, are produced from the common chemical xylon. The joint process requires
Special order. Swat Corporation produces tennis racquets for kids that it sells for $16 each. At capacity, the company can produce 50,000 racquets per year. The costs of producing and selling 50,000
Make or buy. (J. Watson) Mitchell Ltd. manufactures electronic components used in prod- ucing appliances. Data relating to the unit cost of manufacturing one of its components are provided below:The
Product mix, constrained resource. Westford Company produces three products, A110, B382, and C657. Unit data for the three products follow:All three products use the same direct material, Bistide.
Linear programming. (J. Watson) Purcell Ltd. manufactures two models of regulators, the X900 and the P330. The assembly process for each is similar in that both require a certain amount of wiring and
Closing down divisions. Patterson Corporation has four operating divisions. During the first quarter of 2010, the company reported total income from operations of $55,000 and the following results
Multiple-choice comprehensive problem on relevant costs. The following are the Class Company’s unit costs of manufacturing and marketing a high-style pen at a level of 25,000 units per
Make or buy (continuation of 11-29). Assume that, as in requirement 7 of Problem 11-29, a proposal is received from an outside supplier who will make and ship high-style pens directly to the Class
Discontinuing a product line, selling more product. The Northern Furniture Division of Grossman Corporation makes and sells tables and beds. The following revenue and cost information from the
Opportunity cost. (H. Schaefer) Wolverine Corporation is working at full production capacity producing 10,000 units of a unique product, Rosebo. Manufacturing costs per unit 1. Variable costs per
Influences on decisions. (CMA) Windsor Headlights Ltd. sells its products into a very com- petitive North American market. Sales have been steady for about three years and the company's capacity has
Optimal production mix. (CMA, adapted) Della Simpson Inc. sells two popular brands of cookies, Della's Delight and Bonny's Bourbon. Della's Delight goes through the Mixing and Baking Departments and
Special order. (J. Watson) Butler Ltd. manufactures one product in its Waterloo factory.Currently, Butler has capacity for 80,000 units per month and normally produces 50,000 units per month. The
Make versus buy, governance. (CMA, adapted) Lynn Hardt, a management accountant with the Paibec Corporation, is evaluating whether a component, MTR-85, should continue% to be manufactured by Paibec
Linear programming. (CMA, adapted) Cape Breton Manufacturing Ltd. (CBML) produces two products, Smart and Supersmart. The company has a just-in-time (JIT) inventory policy, therefore the direct
One-time orders. (CMA, adapted) Edmonton Precision Tool Ltd. (EPTL) has a maximum practical capacity of 4,000 laser machine-hours and 1,000 imaging machine-hours. The direct costs per hour to operate
Optimal product mix. (CMA, adapted) OmniSport’s Plastics Department is currently manufacturing 5,000 pairs of skates annually, making full use of its machine capacity. Presented below are the
Linear programming. (J. Watson) Vulcan Ltd. produces and sells two products, the Spock @and the Vorick:Each unit of Spock requires 1.5 direct labour-hours and 2.0 machine-hours. The Vorick requires
Optimal sales mix for a retailer, sensitivity analysis. Always Open Inc. operates a chain of food stores open 24 hours a day. Each store has a standard 48,000 square metres of floor space available
Make versus buy. (J. Watson) Strudwick Ltd. is a distributor of canvas, leather, and synthetic products including backpacks, luggage, and computer carrying cases. It currently manufac- tures
Discuss the major influences on both short- and long-run pricing decisions LO1
Understand the pricing of products using the target- costing approach LO1
Contrast pricing of products using the cost-plus approach, pricing of products using life-cycle budgeting, and pricing of products using the target- pricing approach LO1
Explain the importance of non-cost factors, including environmental sustainability, in pricing practices LO1
Explain how corporate social responsibility differs from corporate governance LO1
What are the three major influences on pricing decisions?LO1
Are there any circumstances when a firm would offer a price on a product or service that is‘ below full cost? Explain.LO1
Give two examples of pricing decisions with a short-run focus.LO1
How is activity-based costing useful for pricing decisions?LO1
Describe two alternative approaches to long-run pricing decisions.LO1
What is a target cost per unit?LO1
Describe value engineering and its role in target costing.LO1
Give two examples each of a value-added cost and a non-value-added cost.LO1
"It is not important for a firm to distinguish between cost incurrence and locked-in costs." Do you agree? Explain.LO1
What is cost-plus pricing?LO1
Describe three alternative cost-plus methods.LO1
Give two examples where the difference in the costs of two products or services is much smaller than the difference in their prices.LO1
What is life-cycle budgeting?LO1
What are three benefits of using a product-life-cycle reporting format?LO1
Define predatory pricing, dumping, and collusive pricing.LO1
Cost-plus target return on investment pricing. John Beck is the managing partner of a partnership that has just finished building a 60-room motel. Beck anticipates that he will rent these rooms for
Cost-plus pricing, different definitions of costs. Wellington Ltd. manufactures bedroom furniture. Its primary customers are hotel chains, and the company manufactures large quantities of products
Target costs, effect of product-design changes on product costs. Medical Instruments 1 2010 hatch-level costs manufactures many products. Io compute manufacturing costs, it uses an accounting system
Cost-plus pricing, missing data. Information relating to the costs of Brigham Ltd.’s only 1. Total product cost, $500 product is summarized below:The company has established a target price of $575,
Life-cycle product costing, product emphasis. Starlight Systems Ltd. is examining the ©profitability and pricing policies of its software division. Starlight develops software for a vari- 2. Mecha
Target prices, target costs. Hogan Ltd. is about to introduce a new product to the market.Hogan has established a target 40% return on sales. The costs of the new product are 2.T otal product cost
Life-cycle product costing. Intentical Inc. manufactures game systems. Intentical has decided to create and market a new system with wireless controls and excellent video graphics.Intentical’s
Cost-plus pricing, bidding, corporate social responsibility. Wilson Ltd. manufactures promotional items (pens, mechanical pencils, buttons, etc.). Recently, it has been approached by a large charity
Target rate of return on investment, activity-based costing. Electronic Arts (EA) distrib- utes video games to retail stores and video-game arcades. It has a simple business model: order the video
Pricing of special orders, corporate social responsibility. Taylor Ltd. manufactures cosmetic 26 bags. The average selling price of the bag is $15. Each bag has variable manufacturing costs of$7.20
Cost-plus and market-based pricing. Alberta Temps, a large labour contractor, supplies contract labour to building construction companies. For 2009, Alberta has budgeted to supply 80,000 hours of
Pricing dispute. Urban Solutions manufactures bicycle parking systems. With the push towards environmentally friendly modes of transportation, it sees a huge opportunity to expand its business by
Product costs, activity-based costing systems. Executive Power (EP) manufactures and sells computers and computer peripherals to several nationwide retail chains. Johan Farnham is the manager of the
Target cost, activity-based costing systems (continuation of 12-29). Assume all the information in Problem 12-29. Farnham has just received some bad news. A foreign competitor has introduced products
Cost-plus pricing, activity-based costing, target pricing. Plume Ltd. manufactures two ToPta lidirectieasisDelinte models of its product, Standard and Deluxe. In reviewing its operations it has
Cost-plus and market-based pricing. (CMA, adapted) Best Test Laboratories evaluates the 2. HTTt estp ool labour costs, reaction of materials to extreme increases in temperature. Much of the
Pricing of a special order. Fane Industries Ltd. has been approached by a customer who wishes to purchase 50,000 units of its product at $52 per unit. The customer requires —{ jptaj ost sales,
Life-cycle product costing, activity-based costing. Destin Products makes Bee cet ae digital watches. Destin is preparing a product-life-cycle budget for a new watch, PSE Dabicions ast Coat MX3.
Governance, corporate social responsibility, and sustainability. Clarke Ltd. is a Canadian company with its headquarters and Canadian manufacturing plant located in Mississauga, Ontario. The company
Cost-plus, target return on investment pricing. Vend-o-licious makes candy bars for vending machines and sells them to vendors in cases of 30 bars. Although Vend-o-licious makes a variety of candy,
Product life cycle and pricing. (J. Watson) Neptune Ltd. is an established manufacturer of robotic equipment used in industrial applications. Recently it has faced increased competi- tion, primarily
‘Target prices, target costs, value engineering. Avery Inc. manufactures two component 1.T vez total ABC overhead parts for the television industry:allocation, $548,000 @ Tez, with annual
Explain how short-term measures evaluate the success of long-term strategies LO1
Apply the BSC to enterprise risk management (ERM) and explain the link between corporate governance and corporate competitiveness LO1
Interpret the BSC in the context of enterprise risk management (ERM) of corporate and environmental sustainability LO1
Implement and apply the BSC in a comprehensive analysis LO1
Analyze specific productivity and capacity control strategies to achieve BSC expectations LO1
What are the four key perspectives in the balanced scorecard?LO1
What are the key benefits of using a BSC?LO1
How does the BSC relate to strategic decision making?LO1
How does intellectual capital management relate to the learning and growth perspective of the BSC?LO1
What is the difference between organic growth and an adjacency?LO1
How does enterprise risk management (ERM) relate to a supply-chain strategy?LO1
What is the relationship among corporate governance, corporate social responsibility, environmental sustainability, and corporate sustainability? eek eater LO1
Describe three key components in doing a strategic analysis of operating income.LO1
What is the difference between a stakeholder and a shareholder?LO1
How does an engineered cost differ from a discretionary cost?LO1
“The distinction between engineered and discretionary costs is irrelevant when identifying unused capacity.” Do you agree? Comment briefly.LO1
What is downsizing?LO1
What is a partial productivity measure?LO1
What is total factor productivity? :LO1
“We are already measuring total factor productivity. Measuring partial productivities would be of no value.” Do you agree? Comment briefly.LO1
Balanced scorecard. La Quinta Corporation manufactures corrugated cardboard boxes. It competes and plans to grow by producing high-quality boxes at a low price that are delivered to customers in a

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