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business
managerial accounting decision making

Questions and Answers of Managerial Accounting Decision Making

a. Calculate the expected full cost of the Surenex engagement, including an allocation of overhead. b. What is the lowest amount that Connie can bill on this engagement without hurting company
Are the proposed actions of Ed and Robin ethical? What is the likely effect of their actions on shareholder value?Brixton Surgical Devices, a public company with sales of over $900,000,000, is one of
Wolf Manufacturing expects the following overhead costs in the current year: Indirect material..............................................$ 45,000 Indirect
Vulcan Molding produces molded rubber components. At the start of the year, the company estimated that it would incur $4,000,000 of direct labor cost and $9,000,000 of manufacturing overhead.
Terra Cotta Designs manufactures custom tiles. The following information relates to the fiscal year ending December 31, 2020: Beginning balance in Raw Material Inventory......................$
The following information is available for Satterfield’s Custom Glass for the fiscal year ending December 31, 2020: Beginning balance in Work in Process Inventory................$
Smith and Baker Legal Services employs five full-time attorneys and nine paraprofessionals. Budgeted salaries are $300,000 for each attorney and $100,000 for each paraprofessional. Budgeted indirect
Webber Fabricating estimated the following annual hours and costs: Expected annual direct labor hours..................20,000 Expected annual direct labor cost................$
Place Y (yes) beside the general ledger inventory accounts used in a job-order cost system and N (no) by those that are not.______ a. Raw Materials Inventory ______ b. Administrative
a. List examples of costs at the Riverside Hotel that are variable, fixed, and sunk. Provide an example of an opportunity cost. b. What is the source of conflict between labor and management?
What is the goal of managerial accounting?
Molton Waste Removal now only collects garbage from private residences (houses) because it does not own trucks with the capability of lifting and emptying garbage dumpsters used by apartment
Easton Taylor & Beckett LLC (ETB), an enterprise risk management (ERM) firm, offers IT and security consulting services including network and IT security risk assessment, computer forensic
Zipp Cards buys baseball cards in bulk from the companies that produce them. Zipp buys sheets of 48 cards, then cuts the sheets into individual cards, and sorts and packages them, usually by team.
The Fox Mug Company is an old-line maker of ceramic coffee mugs. It imprints company logos and other sayings on mugs for both commercial and wholesale markets. The firm has the capacity to produce 50
In its 2015 statement of cash flows, what amount did Apple report for net cash (a) Provided by operating activities, (b) Used for investing activities, and (c) Used for financing activities?
Data for Stiever Corporation€™s maintenance costs is shown below.Compute the variable- and fixed-cost elements using regression analysis. Present your solution in the form of a cost
Vern Thoms is puzzled. His company had a profit margin of 10% in 2020. He feels that this is an indication that the company is doing well. Tina Amos, his accountant, says that more information is
a. If Erin Company had net income of $300,000 in 2019 and it experienced a 24.5% increase in net income for 2020, what is its net income for 2020?b. If 6 cents of every dollar of Erin’s revenue is
Hogan Inc. reported 2019 earnings per share of $3.26 and had no discontinued operations. In 2020, earnings per share on income from continuing operations was $2.99, and earnings per share on net
During 2020, Doubleday Company converted $1,700,000 of its total $2,000,000 of bonds payable into common stock. Indicate how the transaction would be reported on a statement of cash flows, if at all.
What is a post-audit? What are the potential benefits of a postaudit?
For the year ending December 31, 2020, Cobb Company accumulates the following data for the Plastics Division which it operates as an investment center: contribution margin—$700,000 budget, $710,000
Torres Company accumulates the following summary data for the year ending December 31, 2020, for its Water Division, which it operates as a profit center: sales—$2,000,000 budget, $2,080,000
In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows.All costs are controllable by the department manager.
Data for Gundy Company are given in BE10.4. In March 2020, the company incurs the following costs in producing 100,000 units: direct materials $520,000, direct labor $596,000, and variable overhead
Gundy Company expects to produce 1,200,000 units of Product XX in 2020. Monthly production is expected to range from 80,000 to 120,000 units. Budgeted variable manufacturing costs per unit are direct
The Rockies Division operates as a profit center. It reports the following for the year ending December 31, 2020.Prepare a responsibility report for the Rockies Division at December 31, 2020. Actual
In Rooney Company, direct labor is $20 per hour. The company expects to operate at 10,000 direct labor hours each month. In January 2020, direct labor totaling $206,000 is incurred in working 10,400
For the quarter ended March 31, 2020, Croix Company accumulates the following sales data for its newest guitar, The Edge: $315,000 budget; $305,000 actual. Prepare a static budget report for the
Emeric and Ellie’s Painting Service estimates that it will paint 10 small homes, 5 medium homes, and 2 large homes during the month of June 2020. The company estimates its direct labor needs as 40
The controller of Trenshaw Company wants to improve the company’s control system by preparing a month-by-month cash budget. The following information is for the month ending July 31, 2020.June 30,
Deitz Corporation is projecting a cash balance of $30,000 in its December 31, 2019, balance sheet. Deitz’s schedule of expected collections from customers for the first quarter of 2020 shows total
Danner Company expects to have a cash balance of $45,000 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows.Collections from customers: January $85,000,
Fultz Company has accumulated the following budget data for the year 2020.1. Sales: 30,000 units, unit selling price $85.2. Cost of one unit of finished goods: direct materials 1 pound at $5 per
Kirkland Company combines its operating expenses for budget purposes in a selling and administrative expense budget. For the first 6 months of 2020, the following data are available.1. Sales: 20,000
Atlanta Company is preparing its manufacturing overhead budget for 2020. Relevant data consist of the following. Units to be produced (by quarters): 10,000, 12,000, 14,000, 16,000. Direct labor: time
Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the master budget and has accumulated the following information for 2020.Lowell has a labor
Rodriguez, Inc., is preparing its direct labor budget for 2020 from the following production budget based on a calendar year.Each unit requires 1.5 hours of direct labor.InstructionsPrepare a direct
Fuqua Company’s sales budget projects unit sales of part 198Z of 10,000 units in January, 12,000 units in February, and 13,000 units in March. Each unit of part 198Z requires 4 pounds of materials,
North Company has completed all of its operating budgets. The sales budget for the year shows 50,000 units and total sales of $2,250,000. The total unit cost of making one unit of sales is $25.
Elbert Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses are expected to be $24,000 in the first quarter, and $4,000 increments
For Roche Inc., variable manufacturing overhead costs are expected to be $20,000 in the first quarter of 2020, with $5,000 increments in each of the remaining three quarters. Fixed overhead costs are
For Gundy Company, units to be produced are 5,000 in quarter 1 and 7,000 in quarter 2. It takes 1.6 hours to make a finished unit, and the expected hourly wage rate is $15 per hour. Prepare a direct
Perine Company has 2,000 pounds of raw materials in its December 31, 2019, ending inventory. Required production for January and February of 2020 are 4,000 and 5,000 units, respectively. Two pounds
Sales budget data for Paige Company are given in BE9.2. Management desires to have an ending finished goods inventory equal to 25% of the next quarter’s expected unit sales. Prepare a production
Paige Company estimates that unit sales will be 10,000 in quarter 1, 14,000 in quarter 2, 15,000 in quarter 3, and 18,000 in quarter 4. Using a sales price of $70 per unit, prepare the sales budget
Sheen Co. manufactures a standard cabinet for a Blu-ray player. The variable cost per unit is $16. The fixed cost per unit is $9. The desired ROI per unit is $6. Compute the markup percentage on
Carey Company had sales in 2019 of $1,560,000 on 60,000 units. Variable costs totaled $900,000, and fixed costs totaled $500,000. A new raw material is available that will decrease the variable costs
Mary Webster owns and manages a company that provides trenching services. Her clients are companies that need to lay power lines, gas lines, and fiber optic cable. Because trenching machines require
James Brooks estimated the variable and fixed components of his company’s utility costs using the high-low method. He is concerned that the cost equation that resulted from the high-low method
Empire Company is a manufacturer of smart phones. Its controller resigned in October 2020. An inexperienced assistant accountant has prepared the following income statement for the month of October
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020.Instructionsa. Prepare a cost of goods manufactured schedule. (Assume all raw materials used
Nalpo Ltd manufactures and markets a small table that attaches to ladders. The following annual budget is based on 75,000 units made and sold:Actual production figures for year 1 and year 2 were as
Bishop & Co. manufactures vinyl pond lining for the water-garden industry. The company buys vinyl beads by the tonne and heats and rolls them into large sheets which are then cut to the required
Brightwell Shades Ltd has developed a new kind of sunglasses, the Shadewell, whose strength can be manually adjusted. The variable cost of one pair is £50 but the firm is unsure what the
a) What is meant by ‘price elasticity of demand’?b) Create a numerical example of the ‘absorption cost suicide spiral’.c) Explain the differences between the accountant’s and the
The Chinkin Corporation produces surfboards. Its sales have been 300 a month for the last few months but it is about to launch an expansion strategy aimed at increasing sales by 50% over the next
Flipside Ltd manufactures a single-size lubrication unit for use in wind turbines etc. It operates a standard absorption costing system and uses variance analysis to control its operations. The
Elbo Ltd makes roof tiles. It has two production departments: moulding and packing. It makes two different sizes of tile, the Handi and the Jiant. The following table shows the standard costs of
Fablus Limited makes a single product, the NL. It operates a standard absorption costing system. The budget for 2012 shows sales of 500,000 NLs at £0.25 giving a profit of £12,500.Actual
Triform Limited operates a standard absorption costing system. During last month, it made only one product, the TR2. Using the following information, you are required to calculate as many variances
Medibed manufactures hospital beds. These are complicated mobile platforms with several moving parts. It is located on the outskirts of Bromsgrove and has good connections to the motorway system.
In common with the rest of the National Health Service, Freeshire Hospital Trust is having to cope with considerable constraints on resources. To address this, a new accountant was appointed two
Chumpy Lighting Limited manufactures a wide variety of light bulbs which it sells to lighting shops and builders merchants through wholesale distributors. It also sells direct to the big UK
Parnham Clarke (UK) plc manufactures and markets ‘off-the-shelf’ material fastenings (based on zips and Velcro) mainly for the clothing industry. These are mostly sold through a network of
The following are extracts from the profit and loss accounts and balance sheets of Digby plc:Task:Comment on Digby€™s liquidity, capital structure, profitability and working capital
Shoes Ltd has operated in the retail sector for the past eight years. A summary of its financial statements for the year just ended is given below:
The Alborg Company Ltd manufactures and sells doors and window frames to the building trade. It has been expanding rapidly over the last two years, experiencing an annual growth rate of 25%. The
Charlesworth plc is a distributor of tiles to the building trade. The vast majority of these tiles are purchased in Eastern Europe and South-East Asia. It has been quite successful since it was set
SACCUS is a local charity which decides to hold an outdoors fund-raising event in mid-summer. The secretary has a connection with an entertainments company which puts on musical laser light shows for
Jim Culf is the manager of the Royal Hotel, Bigtown-on-Sea. In anticipation of preparing next year€™s budget, he has analysed his recent costs and income. His findings are summarized
Hughes Healthfoods makes and sells two types of diet supplement, Slim Quick (SQ) and Healthy Living (HL). It has a single production line on which the two products are made alternately in batches.
Jean-Paul Cie (J-P) is a world-famous haute-couture fashion house based in Paris. It also manufactures a range of perfumes, all made from secret recipes. Only one ingredient called
Marie and Peter Bridge run a business manufacturing and selling sets of the popular French game, boules. The boules are turned from aluminium, packaged in a neat carrying case and sold for £22 a
Murray Polls Limited recently contracted to conduct an opinion poll concerning global warming and its causes. Its costing for this job is shown below:(Overheads are absorbed on the basis of
The Eldave Advertising Agency has been working on a campaign for Greenpoint Leisure Limited for the last four months. The campaign is for Greenpoint’s eco-friendly holidays in South America and
Fiesole Ltd is considering the selection of one of a pair of mutually exclusive capital investment projects. Both would involve the purchase of machinery with a life of five years. Fiesole uses the
The Adaptor Company has recently invested £40,000 in a market research survey to determine the demand for its new product, the AdaptAll. The bill for this survey has not yet been paid. Adaptor is
Medley Ltd makes dishwashers. There are three production departments: machining, assembly and finishing; and two service departments: maintenance and stores.Costs are as follows:Production statistics
Ugur Ltd makes three different types of marine compass: Type A, Type D and Type N. Each compass passes through two production departments: assembling and finishing. Ugur absorbs its overheads on the
Hoffman Ltd makes only two types of portable cooking stove, the Lightweight (LW) and the Megarange (MR). Last year it produced 4,500 LWs and 500 MRs. The direct materials cost £3.00 for one LW
Pullman Products manufactures ceramic discs for industrial use. It makes the discs in three sizes: small (S), medium (M) and large (L). Product costs are calculated using a simple absorption costing

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