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horngrens cost accounting a managerial emphasis

Questions and Answers of Horngrens Cost Accounting A Managerial Emphasis

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
Engineered and discretionary overhead costs, unused capacity, customer help-desk. BrightStar, a cable television operator, had 900,000 subscribers in 2009. The company employs eight
Balanced scorecard, governance. John Emburey, division manager of the Household Product Division, a maker of kitchen dishwashers, had just seen the balanced scorecard for his division for 2009. He
Partial productivity measurement. Guble Company manufactures wallets from fabric. In 2008, Guble made 2,500,000 wallets using 1,875,000 metres of fabric. In 2009, Guble plans to make 2,650,000
Total factor productivity (continuation of Problem 13-37). Refer to the data for Problem 13-37. Assume the fabric costs $4 per metre in 2009 and $4.10 per metre in 2008. REQUIRED 1. Compute Guble
Downsizing. (CMA, adapted) Mayfair Corporation currently subsidizes cafeteria services for @its 250 employees. Mayfair is in the process of reviewing the cafeteria services as cost-cutting measures
Analysis of growth, price-recovery, and productivity components. Tilson Ltd. sells men’s @clothing. Corporate strategy is to offer a wide selection of clothes and excellent customer 2, 2010 total
Apply relevance as a criterion to guide decisions related to allocation of support costs LO1
Apply cost-allocation procedures to period overhead cost allocation of support departments' cost pools LO1
Analyze and select appropriate cost-allocation procedures to assign support costs to operating departments LO1
Analyze and select appropriate cost-allocation procedures to assign support costs to other support and operating departments LO1
Analyze cost-allocation procedures to assign common costs and justify contractual reimbursement LO1
What two assumptions are frequently made when estimating a cost function?LO1
What is ordinary least squares linear regression? What is the goal of an OLS linear regression?LO1
What types of data points are needed for an OLS analysis? What is the first step in any statis- tical analysis?LO1
What are the four assumptions that must be met to assure good quality input data? What data measurement problems can cause poor data quality?LO1
"High correlation between two variables means that one is the cause and the other is the effect." Do you agree? Explain.LO1
What is a linear cost function? Describe three alternative linear cost functions.LO1
Name four approaches to estimating a cost function.LO1
When using the high-low method, should you base the high and low observations on the dependent variable or on the cost driver?LO1
What is the difference between the coefficient of determination, 2, and the goodness of fit? What does explanatory power mean?LO1
What is a residual?LO1
How do the null hypothesis Ho, the degrees of freedom (d.f.) relate to one another? How do the student-t, confidence level, and critical value relate to d.f. and Ho?LO1
Describe three criteria for evaluating cost functions and choosing cost drivers.LO1
"All independent variables in a cost function estimated with regression analysis are cost drivers." Do you agree?LO1
What is a discontinuous linear cost function? What types of analyses can be done to improve cost control when the data sets indicate a discontinuous linear cost function?LO1
Define learning curve. Outline two models that can be used when incorporating learning into the estimation of cost functions.LO1
OLS linear regression. The results of an OLS linear regression analysis are below. The predictor variable used is the quantity produced and sold. The explanatory power of this variable to explain
OLS linear regression (continuation of Exercise 10-16). Using Excel, plot the actual values of the predictor variable Y (in $ millions) from Exercise 10-16 as a bar chart and add a trendline.REQUIRED
Identifying variable, fixed, and mixed cost functions. The Pacific Corporation operates car rental agencies at more than 20 airports. Customers can choose from one of three contracts for car rentals
Discontinuous linear cost functions. (CPA, adapted) Select the graph that matches the numbered manufacturing cost data. Indicate by letter which of the graphs best fits each of the situations or
Account analysis method. Lorenzo operates a brushless car wash. Incoming cars are put on an automatic, continuously moving conveyor belt. Cars are washed as the conveyor belt carries the car from the
Interpreting results of regression analysis. In the example of Elegant Rugs in the chapter, the student-t showed that for direct machine-hours (DMH) as the predictor variable, the intercept a was not
Account analysis method. Gower Inc., a manufacturer of plastic products, reports the fol- lowing manufacturing costs and account analysis classification for the year ended December 31, 2009.Gower
Linear cost approximation. Sandy Smith, managing director of the Calgary Consulting Group, is examining how overhead costs behave with changes in monthly professional labour-hours billed to clients.
Cost-volume-profit and regression analysis. Garvin Corporation manufactures a chil-1 a.A verage cost per dren’s bicycle, model CT8. Garvin currently manufactures the bicycle frame. During 2009,|
Regression analysis, activity-based costing, choosing cost drivers. Jill Goldstein has been collecting data over the last year in an effort to understand the cost drivers of distribution costs at
Learning curve, cumulative average-time learning model. Global Defence manufactures 5 radar systems. It has just coinpleted the manufacture of its first newly designed system, RS-32. ——_jpta\
Learning curve, incremental unit-time learning model. Assume the same information for @Global Defence as in Exercise 10-27, except that Global Defence uses a 90% incremental 1T.o talvariablecocte oF
Organizing data, high-low method. Ken Howard, financial analyst at JVR Corporation, a © —manufacturer of precision parts, is examining the behaviour of quarterly maintenance costs for budgeting
High-low versus regression method. (CIMA, heavily adapted) Anna Martinez, the financial manager at the Casa Real restaurant, is working with Jan Brown, the marketing manager, to establish whether
Cost estimation, cumulative average-time learning curve. Nautilus Company, which is under contract to the Canadian Navy, assembles troop deployment boats. As part of its research program, it
Cost estimation, incremental unit-time learning model. Assume the same information for Nautilus Company as in Problem 10-31 with one exception. This exception is that Nautilus uses an 85% incremental
Promotion of a new product, simple and multiple regression analysis. (Chapter Appendix, S. Stickel, adapted) "What does all this mean. All I really want to know is whether I should advertise or not,
Regression; choosing among models (Chapter Appendix). Tilbert Toys (IT) makes the popular Floppin’ Freddy Frog and Jumpin’ Jill Junebug dolls in batches. TT has recently adopted activity-based
Purchasing department cost drivers, activity-based costing, simple regression analysis.Flashy Fashion operates a chain of ten retail department stores. Each department store makes its own purchasing
Purchasing department cost drivers, multiple regression analysis (continuation of Problem 10-35). Sherry Jones decides that the simple regression analysis used in Problem 10-35 could be extended to a
Data analysis and governance. Nordic Wind makes downhill skis. Sales of the skis have 1.a. Labour cost savings, been very steady over the past ten years. Helen Gibbs, the manager of the department
High-low method and regression analysis. Happy Business College has recently opened a restaurant as part of its hospitality major. For the first 10 weeks the manager did not estimate any costs, but
Regression, activity-based costing, choosing cost drivers. Newroute Manufacturing has been using activity-based costing to determine the cost of product X-678. One of the activities, "Inspection,"
High-low method, alternative regression functions, accrual accounting adjustments.‘Trevor Kennedy, the cost analyst at a can manufacturing plant of United Packaging, is seeking to examine the
Contrast relevant and irrelevant costs and revenues as well as quantitative and qualitative information influencing decisions LO1
Identify the differences among relevant costs for short-term and long-term production output decisions LO1
Explain why opportunity cost is relevant and book value is irrelevant in decision making LO1
Identify key concepts and apply them to product and customer mix decisions LO1
Explain how to reduce the negative effects and conflicts arising in relevant- cost analyses LO1
Identify the factors important to choosing the denominator level used to calculate fixed overhead allocation rates LO1
Explain how the choice of denominator affects capacity management, costing, pricing, and performance evaluation LO1
Distinguish absorption from variable costing; prepare and explain the differences in operating income under each costing policy LO1
Distinguish throughput costing from variable costing and absorption costing, and explain differences in operating income under each costing policy LO1
Explain productivity measurement under each of the three costing policies LO1
"Differences in operating income between variable and absorption costing are due solely to accounting for fixed costs." Do you agree? Explain.LO1
Why is the term direct costing a misnomer?LO1
Do companies in either the service sector or the merchandising sector make choices about absorption costing versus variable costing?LO1
Explain the main conceptual issue under variable and absorption costing regarding the proper timing for the release of fixed manufacturing overhead as expense.LO1
"The main trouble with variable costing is that it ignores the increasing importance of fixed costs in modern manufacturing." Do you agree? Why?LO1
Give an example of how, under absorption costing, operating income could fall even though the unit sales level rises.LO1
What are the factors that affect the breakeven point under (a) variable costing and (b) absorption costing?LO1
Why, might throughput costing also be called super-variable costing?LO1
Critics of absorption costing have increasingly emphasized its potential for promoting unde- sirable incentives for managers. Give an example.LO1
What are two ways of reducing the negative aspects associated with using absorption costing to evaluate the performance of a plant manager?LO1
Describe the downward demand spiral and its implications for pricing decisions.LO1
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?LO1
Which denominator-level concepts emphasize what a plant can supply? Which denominator- level concepts emphasize what customers demand for products produced by a plant?LO1
Variable and absorption costing; explaining operating-income differences. Zippy ©Motors assembles and sells motor vehicles, and uses standard costing. Actual data relating to 1.a. Operating income,
Throughput costing (continuation of 9-16). The variable manufacturing costs per unit of ©Zippy Motors are:REQUIRED 1. Prepare income statements for Zippy Motors in April and May of 2010 under
Variable and absorption costing, explaining operating-income differences. BigScreen ©Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual | 4 gperating
Throughput costing (continuation of 9-18). The variable manufacturing costs per unit of 1. Operating income, January BigScreen Corporation are:REQUIRED 1. Prepare income statements for BigScreen
Absorption and variable costing. (CMA) Osawa Inc. planned and actually manufactured 200,000 units of its single product in 2009, its first year of operation. Variable manufacturing cost was $20 per
Comparison of actual costing methods. Rehe Company sells its razors at $3 per unit.1O.p erating income for 2008, The company uses a first-in, first-out actual costing system. A fixed manufacturing
Absorption versus variable costing. Electron Inc. is a semiconductor company based in Winnipeg. In 2009, it produced a new router system for its corporate clients. The average wholesale selling price
Income statements. (SMA) Mass Company manufactures and sells a single product. The denominator level is 30,000 output units per year. Mass Company's accounting records pro- duce variable costing
Downward demand spiral. Network Company is a large manufacturer of optical storage systems based in British Columbia. Its practical annual capacity is 7,500 units, and, for the past few years, its
Absorption costing and production-volume variance—alternative capacity bases. Earth fe Tieareticalinventonatle Light First (ELF), a producer of energy-efficient light bulbs, expects that demand
Operating income effects of denominator-level choice and disposal of production- volume variance (continuation of 9-26). REQUIRED 1. If ELF sells all 220,000 bulbs produced, what would be the effect
Variable costing versus absorption costing. Proteus Company uses an absorption costing system based on standard costs. Total variable manufacturing costs, including direct materials costs, were $3.60
Breakeven under variable and absorption costing (continuation of 9-28). REQUIRED 1. Compute the breakeven point in units under variable costing. 2. Compute the breakeven point in units under
Denominator-level problem. Speedy Inc. is a manufacturer of the very popular G36 motorcycles.The management at Speedy has recently adopted absorption costing and is debating which denominator level
Cost allocation, downward demand spiral. Deli One operates a chain of 10 retirement homes in the Toronto area. Its central food-catering facility, Deliman, prepares and delivers meals to the
Effects of differing production levels on absorption costing income: Metrics to mini- ee mize inventory buildups. University Press produces textbooks for university courses. They 1. Expected gross
Variable costing and absorption costing, The All-Fixed Company. (R. Marple, adapted) ©It is the end of 2010. The All-Fixed Company began operations in January 2009. The com- | (,) Operating income
The Semi-Fixed Company. The Semi-Fixed Company also began operations in 2009 and 1, (a) Operating income for differs from The All-F ixed Company (described in Problem 9-34) by having both variable
Comparison of variable costing and absorption costing. Consider the following data:REQUIRED 1. ‘Tim Monk, president of Monk Company, has asked you to explain why the operating income for 2010 is
Inventory costing and management planning. It is November 30, 2010. Consider the 3)income statement (shown below) for the operations of Multi-Products Inc. for January through November
Absorption costing and production-volume variances (continuation of Problem 9-37).1. What operating income will be reported for 2010 as a whole, assuming that the implied cost behaviour patterns will
Alternative denominator-level capacity concepts, effect on operating income. Lissom Lager has just purchased Austin Brewery. The brewery is two years old and uses absorption costing. It will
Variable and absorption costing, and breakeven points. Tammy Cat Tree Co. (TCTC) builds luxury cat trees and sells them through the Internet to cat owners who want to provide their cats with a more
Absorption costing, standard costs, governance. Advanced Engineering Company (AEC) is a multinational business selling metal products used in the assembly of many cars, trucks, and planes. AEC has
Absorption costing, governance (continuation:of 9-41). Mary Easson decides to undertake a systematic investigation of how the combination of the existing division manager bonus plan and absorption
Absorption, variable, and throughput costing. EnRG Inc. produces trail mix packaged for 1.O perating incomef orA pril, sale in convenience stores across Canada. At the beginning of April 2010, EnRG

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