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introduction to management accounting

Questions and Answers of Introduction To Management Accounting

(a) Define stock control.(b) How would you expect maximum quantities and the normal order quantity to be fixed?When would you expect maximum and minimum stock quantities to be revised?
Differences are often found between the actual stock of an article and that shown by the perpetual inventory records. For either a manufacturing organisation or a trading organisation, what are the
Applying the rules in SSAP 9, determine the value that should be given to stocks in each of the following cases.(a) Two hundred and fifty units of a universal flange were bought at £3.75 per unit
For each of the following white collar activities, list as many possible indicators of productivity as you can:(a) Credit controller(b) School teacher
What are the general principles of an incentive payments scheme?
List as many costs as you can under each of the following three categories of labour costs:(a) Direct fringe benefits(b) Statutory costs(c) Support/social costs
Calculate the total earnings and group bonus payable to a group of employees working for Firri Ltd based on the following information. The group consists of five employees plus a supervisor. Standard
Take five service organisations and give three examples of the output of a management accounting system operated within those organisations. Take each organisation separately.
The chapter talked of contingency theories of accounting. In practical terms this means that each organisation may be different to every other organisation. What are the implications of this for
We can now apply the theory of classification in a practical way by taking examples of costs and classifying them in the way we have discussed so far. Analyse the costs listed below of an engineering
The following information has been taken from your accounting records. Prepare a manufacturing cost and income statement based on this information for the year ended 31 December 19xx. Materials
Show why supervision costs are often shown as being the classic example of a step cost.
The graphical presentation of data for cost analysis purposes is an excellent way of starting an analysis. Look at the data in the table below and attempt to determine the behaviour of each cost
Classify the total costs of each of the following as variable, fixed, mixed, or step.(a) Maintenance costs of a university.(b) Rates.(c) Rent of a photocopier charged as a fixed amount per month plus
Tic Tac Toe ple made the following observations of supply costs at different levels of production output:Required (a) Use the high-low method to estimate the fixed costs and variable cost per unit
If you were the manager of the Contemporary Hotel at Disney World, what information would you want to help maximize the performance of the hotel?
What are three other costs that relate directly to the Norris Division, but for which the division probably does not have information?
What are three other costs that benefit the Norris Division but benefit at least one other division as well?
Let’s say you are a segment manager at Motorola. How would you react to a charge made to your department for a portion of the cost of the fleet of corporate aircraft, even though you have never
Besides the ones listed in the previous paragraph, what are three other service departments you think most companies have?
Refer to the list of three service departments you made in response to Discussion Question 11-5. What is a possible allocation base for each of the departments you listed?Question 11-5Besides the
Do you think the office space cost previously described’ should even be allocated?If not, explain your reasoning. If you answered yes, what would you suggest to the company to overcome the
If you were the chief executive officer of your company, would you prefer a centralized or decentralized management style? Why?
If you were a lower-level manager in your company, would you prefer a centralized or decentralized management style? Why?
What similarities do you see between our discussion here of centralized and decentralized management and our discussion in Chapter 9 of top-down and bottom-up budgeting?
What similarities do you see between our discussion here of return on investment and our discussion in Chapter 8 of capital expenditures?
What similarities do you see between our discussion here of the ROI calculation and our discussion in Chapter 8 of the internal rate of return?
What similarities do you see between our discussion here of the residual income calculation and our discussion in Chapter 8 of net present value?
What, if any, are the potentially negative financial effects of focusing on quality?
What, if any, are the potentially negative financial effects of focusing on customer satisfaction?
What, if any, are the potentially negative financial effects of focusing on employee morale?
What, if any, are the potentially negative financial effects of focusing on employee safety?
What, if any, are the potentially negative financial effects of focusing on efficiency?
The Almer Sales Company has two divisions. The following information is available for the year ended December 31, 2004:The sales for Almer are \($300,000\) for the Eastern Division and \($200,000\)
The Ted Green Sales Company has two divisions. The following information is available for the year ended December 31, 2004:The sales for the company are \($30,000\) for the Northern Division, and
The Albert Pons Company has two divisions. The following information is available for the year ended December 31, 2004:The sales for the company are \($200,000\) for the Central Division, and
The Suzanne Elsea Company has three divisions. The following information is available for the year ended December 31, 2004:The sales for the company are \($200,000\) for the Central Division, and
The Pitman Sales Company has three divisions. The following information is available for the year ended December 31, 2004:The sales for the company are \($100,000\) for Division A, and \($200,000\)
The Porter Sales Company has three divisions. The following information is available for the year ended December 31, 2004:The sales for the company are \($100,000\) for Division 101, and \($100,000\)
The following segment income statement has been prepared for the Albertson Sales Company:The company President, Bob Albertson, is calling a management meeting to explore the idea of closing or
Following are some popular segment classifications followed by three areas of management responsibility.Required: In the blank spaces provided, match the area or responsibility, revenue (R), cost
The Chemical Division of CalChem Incorporated generated a segment margin of \($220,680\) for the year 2004 and the amount invested in the division was $1,226,000.Required: Determine the return on
The Southern Division of the Benson Sales Company generated a segment margin of \($790,020\) for the year 2004 and the amount invested in the division was $4,158,000.Required: Determine the return on
The Automotive Division of the Bascom Company generated a segment margin of \($1,916,800\) for the year 2004 and the amount invested in the division was $11,980,000.Required: Determine the return on
The Alcad Farm Products Company generated income of \($558,620\) for the year 2004 and the amount invested in the division was $3,286,000.Required: Determine the return on investment for Alcad.
The following information is available for the three divisions of the Pompano Company:Required:a. Determine the return on investment for each division.b. Rank the three divisions assuming they are
The following information is available for the three divisions of the Stevens Company:Required:a. Determine the return on investment for each division.b. Rank the three divisions assuming they are
The following information is available for the three divisions of the Reed Company:Required:a. Determine the return on investment for each division.b. Rank the three divisions assuming they are
The Eastern Division of the Key Largo Company generated a segment margin of \($1,836,800\) for the year 2004 and the amount invested in the division was \($12,780,000\). The company’s required rate
Division A of the Emry Company generated a segment margin of \($522,567\) for the year 2004 and the amount invested in the division was \($2,778,450\). The company’s required rate of return is 18
Central Division of the Craft Company generated a segment margin of \($244,765\) for the year 2004 and the amount invested in the division was \($1,335,500\). The company’s required rate of return
The following information is available for the three divisions of the Top Company:Required:a. Determine the return on investment for each division.b. Determine the residual income for each
The following information is available for the three divisions of the Slick Company:The required rate of return for the company is 15 percent.Required:a. Determine the return on investment for each
The following information is available for the three divisions of the Kenyon Company:Required:a. Determine the return on investment for each division.b. Determine the residual income for each
The following information is available for the three divisions of the Planet Company:The company is considering acquiring an automotive parts manufacturing company that is expected to provide income
Refer to the information in problem 11-40.Required: Explain how each of the managers’ feelings about the acceptability of the proposed acquisition would differ if the company used residual income
If the dollar amount of a variance is insignificant, does the variance information help Tree Top’s management team determine where it should focus attention? Explain.
How did Ali, Maria, and Bill calculate the depreciation expense of \($25\) per month?
Can you tell from Exhibit 10-4 whether the three Tree Top employees met their business goals in the month of October? Why or why not?Exhibit 10-4 Tree Top Mailbox Company Income Statement For the
If the actual amount of wood used was more than the standard quantity of wood, do you think the direct material quantity variance would be favorable or unfavorable?Explain your reasoning.
Based on Tree Top Mailbox Company’s quantity variance, do you think that Ali, Maria, and Bill need to examine reasons for using so much wood? Explain your reasoning.
If there had been no variance, would this mean Tree Top used the appropriate amount of wood to build its mailboxes in November? Explain your reasoning.
How might the purchase of wood at a discount affect the direct material quantity variance?
If there had been no variance, would this mean Tree Top paid what it should have for the wood used to build its mailboxes in November? Explain your reasoning.
What effect did the \($0.50\) per hour pay raise have on November’s profits?
In light of the financial problems that occurred in November, do you think Tree Top’s owners should roll back the wage rate to \($10\) per hour? Explain your reasoning.
If variable manufacturing overhead is allocated to production based on direct labor hours, why will an unfavorable variable manufacturing overhead efficiency variance always accompany an unfavorable
If the direct labor efficiency variance is zero, will the variable manufacturing overhead efficiency variance also be zero? Explain your reasoning.
What are some possible reasons why Tree Top Mailbox Company’s variable manufacturing overhead spending was much higher than it should have been based on the standards?
If there had been no variance, would this mean Tree Top paid what it should have for variable manufacturing overhead in November? Explain your reasoning.
The Zhang Manufacturing Company purchased 4,000 pounds of direct material at \($5.20\) per pound. It used 2,700 pounds to make 5,000 finished units. The standard cost for direct material is \($5\)
The Carbonnell Manufacturing Company purchased 15,000 pounds of direct material at \($1.30\) per pound. It used 14,700 pounds to make 5,000 finished units. The standard cost for direct material is
The Smithstone Company purchased 2,500 square feet of direct material at \($6.30\) per square foot. It used 2,055 square feet of material to make 500 finished units. The standard cost for direct
Econo Manufacturing purchased 20,000 square feet of direct material at \($0.54\) per square foot. It used 12,625 square feet to make 1,250 finished units. The standard cost for direct material is
The following information is presented for the Scout Manufacturing Company:• Direct material price standard is \($1.55\) per gallon.• Direct material quantity standard is 2.5 gallons per finished
The following information is presented for the Flowvalve Manufacturing Company.• Direct material price standard is \($15\) per pound.• Direct material quantity standard is 4 pound per finished
The following information is presented for the Munter Manufacturing Company.• Direct material price standard is \($3.25\) per pound.• Direct material quantity standard is six pounds per finished
Information from the Quincy Company is as follows:Required:a. Determine the direct material price variance.b. Determine the direct material quantity variance in dollars. Actual cost of 33,000 pounds
Information from the Wayne Manufacturing is as follows:Required:a. Determine the direct material price variance.b. Determine the direct material quantity variance in dollars. Actual cost of 10,000
Information from the Myco Manufacturing Company is as follows:Required:a. Determine the direct material price variance.b. Determine the direct material quantity variance in dollars. Actual cost of
The direct labor rate standard for Amy Manufacturing is \($12\) per direct labor hour. The direct labor efficiency standard is two hours per finished unit. Last month, the company completed 8,000
The direct labor rate standard for Calspan Manufacturing is \($18.50\) per direct labor hour.The direct labor efficiency standard is six minutes or “0 of an hour per finished unit. Last month, the
The direct labor rate standard for Key Largo Manufacturing is \($10\) per direct labor hour.The direct labor efficiency standard is three hours per finished unit. Last month, the company completed
The direct labor rate standard for Sakura Manufacturing is \($15.25\) per direct labor hour.The direct labor efficiency standard is 30 minutes or 4 hour per finished unit. Last month, the company
The direct labor rate standard for Melissa Valdez Manufacturing is \($10\) per direct labor hour. The direct labor efficiency standard is 0.25 (one quarter) hour per finished unit.Last month, the
The following information is presented for the Marathon Manufacturing Company.• Direct labor rate standard is $11.55.• Direct labor efficiency standard is 2.5 hours per finished
The following information is presented for the Picas Manufacturing Company.• Direct labor rate standard is $12.• Direct labor efficiency standard is two hours per finished unit.• Budgeted
The following information is presented for the Lew Green Manufacturing Company.• Direct labor rate standard is $24.• Direct labor efficiency standard is three hours per finished
Information from the Spin Manufacturing Company is presented as follows:Required:a. Determine the direct labor rate variance.b. Determine the direct labor efficiency variance in dollars. Actual
Information from the Popular Manufacturing Company is as follows:Required:a. Determine the direct labor rate variance.b. Determine the direct labor efficiency variance in dollars. Actual number of
Information from the Electronic Manufacturing Company is as follows:Required:a. Determine the direct labor rate variance.b. Determine the direct labor efficiency variance in dollars. Actual number of
Information from the Atlantic Company is presented as follows:Required:a. Determine the direct material price variance.b. Determine the direct material quantity variance in dollars.c. Determine the
Information from the Progressive Company is presented as follows:Required:a. Determine the direct material price variance.b. Determine the direct material quantity variance in dollars.c. Determine
Information from the Packard Company is presented as follows:Required:a. Determine the direct material price variance.b. Determine the direct material quantity variance in dollars.c. Determine the
Billy Clifford Manufacturing applies variable manufacturing overhead to production on the basis of \($15\) per direct labor hour. The labor efficiency standard is five hours per finished unit. Last
Clifford Knapp Manufacturing applies variable manufacturing overhead to production on the basis of \($5\) per direct labor hour. The labor efficiency standard is two hours per finished unit. Last
Carlos Gonzalez Marine Manufacturing applies variable manufacturing overhead to production on the basis of \($6\) per direct labor hour. The labor efficiency standard is three hours per finished
Alpine Manufacturing applies variable manufacturing overhead to production on the basis of \($13\) per direct labor hour. The labor efficiency standard is four hours per finished unit. Last month the
The Adler Manufacturing Company applies variable manufacturing overhead to production on the basis of \($22\) per direct labor hour. The labor efficiency standard is 0.5 hours per finished unit. Last
The following information is presented for the Carol Green Manufacturing Company.• Standard variable manufacturing overhead rate is \($3.50\) per direct labor hour.• Direct labor efficiency

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