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business
management and cost accounting

Questions and Answers of Management And Cost Accounting

Mondragon SA assembles its CardioX product at its Toledo plant. Manufacturing overhead (both variable and fixed) is allocated to each CardioX unit using budgeted assembly-time hours. Budgeted
Paix-Trolls SARL produces a petrol additive, Elysium, which increases engine efficiency and reduces petrol consumption. The actual and budgeted quantities (in litres) of materials required to produce
Liberaki SA has two divisions, A and B, which manufacture bicycles. Division A produces the bicycle frame, and Division B assembles the bicycle components onto the frame. There is a market for both
ZP Plc operates two subsidiaries, X and Y. X is a component manufacturing subsidiary and Y is an assembly and final product subsidiary. Both subsidiaries produce one type of output only. Subsidiary Y
The ZZ Group has two divisions, X and Y. Each division produces only one type of product: X produces a component, C and Y produces a finished product, FP. Each FP needs one C. It is the current
Refer to Exercise 18.19. Data From Exercise 18.19 Liberaki SA has two divisions, A and B, which manufacture bicycles. Division A produces the bicycle frame, and Division B assembles the
A company, which operates from a number of different locations, uses a system of centralised purchasing. The directors of the company are considering whether to change to a system of decentralised
AA and BB are two divisions of the ZZ Group. The AA division manufactures electrical components, which it sells to other divisions and external customers. The BB division has designed a new
Why is it important to distinguish between the performance of a manager and the performance of the organisation subunit for which the manager is responsible? Give examples.
Serra-Mica Srl is a maker of ceramic coffee cups. It imprints company logos and other sayings on the cups for both commercial and wholesale markets. The firm has the capacity to produce 3,000,000
Intervilles SA operates two divisions, a Lorry Rental Division that rents to individuals and a Transportation Division that transports goods from one city to another. Results reported for the last
Thor-Equip AS specialises in the manufacture of medical equipment, a field that has become increasingly competitive. Approximately two years ago, Knut Solbær, president of Thor-Equip, decided to
Mikkeli Oy has three operating divisions. The managers of these divisions are evaluated on their divisional operating profit, a figure that includes an allocation of corporate overhead proportional
User Friendly Computer is one of the largest personal computer companies in the world. The board of directors was recently (March 2019) informed that User Friendly’s president, Felix Lechat, was
Faulkenheim GmbH is a manufacturer of tool and die machinery. Faulkenheim is a vertically integrated company that is organised into two divisions. The Frankfurt Steel Division manufactures alloy
Describe two generic strategies.
What are the four key perspectives in the balanced scorecard?
What is strategic management accounting?
Describe some of the benefits of improving quality.
La Quinta Ltd 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 timely manner. There are many
Meredith Ltd makes a special-purpose machine D4H used in the textile industry. Meredith has designed the D4H machine for 2018 to be distinct from its competitors. It has been generally regarded as a
Snyder & Partners is a small information systems consulting firm that specialises in helping companies implement sales management software. The market for Snyder’s products is very competitive.
Caltex GmbH refines petrol and sells it through its own Caltex petrol stations. On the basis of market research, Caltex determines that 60% of the overall petrol market consists of
Lee SA manufactures various types of colour laser printer in a highly automated facility with high fixed costs. The market for laser printers is competitive. The various colour laser printers on the
Alcazarquivir Lda manufactures and sells industrial grinders. The following table presents financial information pertaining to quality in 2017 and 2018 (in €000): Required 1. Classify the
Anna-Greta Lantto, the assistant controller of Kiruna AB had recently prepared the following quality report comparing 2018 and 2017 quality performances. Just two days after preparing the
Air Gascogne operates daily round-trip flights on the Toulouse–Stockholm route using a fleet of three 747s, the Eclair des Cévennes, the Eclair des Vosges and the Eclair des Alpilles. The budgeted
Jamair was founded in September 2007 and is one of a growing number of low-cost airlines in the country of Shania. Jamair’s strategy is to operate as a low-cost, high-eciency airline, and it does
YY is a large banking organisation. It has a branch in most of the towns in the country in which it operates. The bank’s business is mainly concerned with private individuals. It is a very
TSH provides courses for students who are studying for accountancy examinations. The accountancy education sector is extremely competitive; it is dominated by a small number of national organisations
AST is a grocery and general merchandise retail group. AST has supermarkets located in most towns and cities in its home country. Over the last few years, profits have fallen and AST has recognised
PB is a car production company. PB uses a system of standard costing to set its budgets. Budgets are set annually by the Finance department and approved by the Board of Directors of PB. The Finance
Distinguish a demand-pull from a push-through system.
Give two reasons why waiting lines and delays occur.
Papadopoulou SA manufactures electrical meters. For August, there were no opening stocks of direct (raw) materials and no opening and closing work in progress. Papadopoulou uses a JIT production
Assume the same facts as in Exercise 21.11. Assume that the second trigger point for Papadopoulou is the sale – rather than the production – of finished units. Also, the Stock Control account is
Range-Tout SARL builds and distributes industrial storage racks using a just-in-time system and maintaining minimal stocks. Range-Tout’s earnings increased sharply in 2017 and earnings-based
Refer to the information in Exercise 21.18 in answering the following requirements; there is no connection between the situations. Data From Exercise 21.18Salamanca SA manufactures filing
Refer to the information in Exercise 21.18 in answering the following requirements; there is no connection between the situations. Data From Exercise 21.18Salamanca SA manufactures filing
Mannklein AG is a major manufacturer of metal-cutting machines. It has plants in Frankfurt and Stuttgart. The managers of these two plants have different manufacturing philosophies. Liisa
Jane plc purchases its requirements for component RB at a price of £80 per unit. Its annual usage of component RB is 8760 units. The annual holding cost of one unit of component RB is 5% of its
The following conversation occurred between Nicos Stavrou, plant manager at Sarantis Engineering, and Thanasis Bakogiorgos, plant controller. Sarantis manufactures automotive component parts such as
Autronic AG manufactures electronic testing equipment. Autronic also installs the equipment at the customer’s site and ensures that it functions smoothly. Additional information on the
Sloan Moving Ltd transports household goods from one city to another within the UK. It measures quality of service in terms of (1) time required to transport goods, (2) on-time delivery (within 2
Ronald van Hooijdonk is the owner of a truck repair shop. He uses an EOQ model for each of his truck parts. He initially predicts the annual demand for heavy-duty tyres to be 2000. Each tyre has a
What impact is digitisation having on firms?
How is data affected by digitisation?
What are some key technologies producing data?
What differentiates a digitally advanced firm from a traditional industrial one?
What is the digitally advanced enterprise control loop?
Describe dimensions of the strategic scorecard?
What does the strategic scorecard force board members to do?
What are the OECD’s corporate governance principles?
What does environmental management accounting capture?
What must management accounting system designers be careful to do?
Gardini Chocolates makes custom-labelled, high-quality, specialty candy bars for special events and advertising purposes. The company employs several chocolatiers who were trained in Germany. The
Comtex Company provides cable and internet services in the Greater Boston area. There are many competitors that provide similar services. Comtex believes that the key to financial success is to offer
WrightAir is a no-frills airline that services the Midwest. Its mission is to be the only short-haul, low-fare, high-frequency, point-to-point carrier in the Midwest. However, there are several large
Danskmat AS operates a home meal delivery service. It has agreements with 20 restaurants to pick up and deliver meals to customers who phone or fax in orders. Danskmat is currently examining its
Nolton-Ragnvald AS uses a standard costing system. It allocates manufacturing overhead (both variable and fixed) to products on the basis of standard direct manufacturing labour-hours (DLH). Nolton
Madetoja Oy’s job-costing system has two direct-cost categories: direct materials and direct manufacturing labour. Manufacturing overhead (both variable and fixed) is allocated to products on the
Explain why a favourable sales-quantity variance occurs.
X Ltd uses an automated manufacturing process to produce an industrial chemical, Product P. X Ltd operates a standard marginal costing system. The standard cost data for Product P is as
Deadeye Ltd operates a standard costing system in which all stocks are valued at standard cost. The standard direct material cost of one unit of product MS is £36, made up of 4.8 kg of material H at
The Antwerp Lions play in the Flemish Football League. The Lions play in the Antwerp Stadium (owned and managed by the City of Antwerp), which has a capacity of 30,000 seats (10,000 lower- tier seats
Les Cliniques du Parc reports the following information for July 2018 regarding its nursing staff consisting of nurses, nursing assistants and orderlies.Required 1. Calculate the total direct nursing
Granoline SA manufactures cereal products such as multi-grain porridge and breakfast cereals. It makes multi-grain porridge by blending barley, wheat and rye. Budgeted costs to produce 100,000 kg of
Rusti-Verres SNC sells two brands of wine glasses – Choc and Chic. Rusti-Verres provides the following information for sales in the month of June 2018:All variances are to be calculated in
A company sells three products: D, E and F. The market for the products dictates that the numbers of products sold are always in the ratio of 3D:4E:5F. Budgeted sales volumes and prices, and
Escuelas SA has two divisions. The Mining Division makes toldine, which is then transferred to the Metals Division. The toldine is further processed by the Metals Division and is sold to customers at
Ethics, transfer pricing (20 minutes) The Leipzig Division of Bohemia Industries makes two component parts, X23 and Y99. It supplies X23 to the Hanover Division to be used in the manufacture of car
Consider the following selected cost data for Schwarzmetal GmbH for 2019.• Budgeted manufacturing overhead .......................... €7 000,000• Budgeted machine-hours
Eldorado SA is a management consulting firm. Its job-costing system has a single direct-cost category (consulting labour) and a single indirect-cost pool (consulting support). Consulting support is
Idergard AB assembles residential homes. It uses a job-costing system with two direct-cost categories (direct materials and direct labour) and one indirect-cost pool (assembly support).
Budenmayer BV is a small machine shop that uses highly skilled labour and a job-costing system (using normal costing). The total debits and credits in certain accounts just before year-end are as
Europe Electronics SNC manufactures microchips in large quantities. Each microchip undergoes assembly and testing. The total assembly costs during January 2018 were: Direct materials used . . .
Euro-Medi Plc manufactures a wide range of medical instruments. Two testing instruments (101 and 201) are produced at its highly automated Limerick plant. Data for December 2018 are as
Flori-Dante Srl grows, processes, packages and sells three joint apple products: (a) sliced apples that are used in frozen pies, (b) apple sauce, and (c) apple juice. The apple peel, processed as
Claude Deux-Bussy is the owner and operator of Boissons Barbe-Bleue Sarl, a bulk soft-drink producer. A single production process yields two bulk soft drinks, Pelléas (the main product) and
Galinha-Esquina SA grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2018 is as follows:Joint costs of production in July
Miljø-Såpe AS produces two joint products, cooking oil and soap oil, from a single vegetable oil refining process. In July 2018, the joint costs of this process were NOK 2400,00,00. Separable
Define separable costs.
Duddon Ltd makes a product that has to pass through two manufacturing processes, I and II. All the material is input at the start of process I. No losses occur in process I but there is a normal loss
Le Roi du Plastique Sarl has two processes – extrusion and thermo assembly. Consider the June 2018 data for physical units in the thermo-assembly process of Le Roi du Plastique: opening work in
Telemark-Kjemi AS manufactures an industrial solvent in two departments – mixing and cooking. This question focuses on the Cooking Department. During June 2018, 90 tonnes of solvent were completed
Refer to the information in Exercise 4.17. Suppose that Telemark-Kjemi uses the FIFO method instead of the weighted-average method in all its departments. The only changes under the FIFO method are
Why should the accountant distinguish between transferred-in costs and additional direct material costs for a particular department?
‘Previous department costs are those incurred in the preceding accounting period.’ Do you agree? Explain.
Refer to the information in Exercise 4.17. Suppose Telemark-Kjemi determines standard costs of NKr 1050 per (equivalent) tonne of transferred-in costs, NOK 390 per (equivalent) tonne of direct
‘There’s no reason for me to get excited about the choice between the weighted-average and FIFO methods in my process-costing system. I have long-term contracts with my materials suppliers at
Euro-Défense is a manufacturer of military equipment. Its Tourcoing plant manufactures the Déca-Pite missile under contract to the French government and friendly countries. All Déca-Pites go
Do Exercise 4.20 using the FIFO method of process costing. Explain any difference between the cost of work completed and transferred out and cost of closing work in progress in the Assembly
Sligo Toys Ltd manufactures one type of wooden toy figure. It buys wood as its direct material for the Forming Department of its Ballinode plant. The toys are transferred to the Finishing Department,
1. Using the FIFO process-costing method, do the requirements of Exercise 4.24. The transferredin costs from the Forming Department for the April opening work in progress are €17,520. During April,
Germinal et Associés provides tax advice to multinational firms. Germinal charges clients for (a) direct professional time (at an hourly rate) and (b) support services (at 30% of the direct
Jyvaskyla Oy is a retail chain of supermarkets. For many years, it has used gross margin (selling price minus cost of goods sold) to guide it in deciding on which products to emphasise or de-
Distinguish among the three methods of allocating the costs of service departments to production departments.
How do cost–benefit considerations affect choices by a company about the allocation of indirect costs to products, services or customers?
George Mathenge is a well-known motivational speaker. The Europe Speaker’s Bureau (ESB) wants Mathenge to be the sole speaker at an all-day seminar. Mathenge’s agent offers ESB the choice of
What is a cost driver? Give one example for each area in the value chain.

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