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managerial accounting tools for business decision making 9th

Questions and Answers of Managerial Accounting Tools For Business Decision Making 9th

Naylor Manufacturing Ltd. sold 8,000 units and recorded sales of $400,000 for the first month of 2022. In making the sales, the company incurred the following costs and expenses. Instructions a.
Montreal Seating Co., a manufacturer of chairs, had the following data for 2022:Instructions a. Calculate the contribution margin ratio. b. Calculate the break-even point in dollars. c. Calculate
Jagswear Ltd. earned operating income of $100,000 during 2021. The company wants to earn operating income of $140,000 during 2022. Its fixed costs are expected to be $56,000, and variable costs are
The management of Borealis Manufacturing Company is trying to decide whether to continue manufacturing a part or to buy it from an outside supplier. The part, called WISCO, is a component of the
Laos Manufacturing Company has four operating divisions. During the first quarter of 2022, the company reported total income from operations of $36,000 and the following results for the
Fontillas Manufacturing Ltd. had sales of $2.4 million for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses: Prepare a CVP income statement for
Ribeiro Manufacturing Company has four operating divisions. During the first quarter of 2022, the company reported aggregate income from operations of $145,000 and the following divisional
Gorham Manufacturing’s sales slumped badly in 2022. For the first time in its history, it operated at a loss. The company’s income statement showed the following results from selling 60,000 units
Newton Cellular Ltd. manufactures and sells the TopLine cellphone. For its 2022 business plan, Newton Cellular estimated the following:The March financial statements reported that sales were not
Johansen Company had $210,000 of operating income in 2022, when the selling price per unit was $150, the variable costs per unit were $90, and the fixed costs were $570,000. Management expects
Maritime Manufacturing Company produces and sells a high-quality handbag. During 2022, handbag sales were $600,000, the contribution margin ratio was 40%, and the margin of safety was
Pro Sports Inc. manufactures basketballs for professional basketball associations. For the first six months of 2022, the company reported the following operating results while operating at 90% of
In 2021, Demuth Company had a break-even point of $350,000 based on a selling price of $5 per unit and fixed costs of $112,000. In 2022, the selling price and the variable cost per unit did not
Volmar Company had sales in 2022 of $1,250,000 on 50,000 units. Variable costs totalled $600,000, and fixed costs totalled $500,000.A new raw material is available that will decrease the variable
On January 2, 2021, Riverside Hospital purchased a $100,000 special radiology scanner from Faital Inc. The scanner has a useful life of five years and will have no disposal value at the end of its
Kosinksi Manufacturing carries no inventories. Its product is manufactured only when a customer’s order is received. It is then shipped immediately after it is made. For its fiscal year ended
The management of Dunham Manufacturing Company has asked for your help in deciding whether to continue manufacturing a part or to buy it from an outside supplier. The part, called Tropica, is a
Rapid Delivery Service reports the following costs and expenses in June 2022:Instructions Determine the total amount of (a) Delivery service (product) costs (b) Period costs. Indirect
Incomplete manufacturing cost data for Ikerd Company for 2022 are presented as follows for four different situations: Instructions a. Indicate the missing amount for each letter. b. Prepare a
The following data were taken from the records of Stellar Manufacturing Company for the fiscal year ended December 31, 2022: Instructions a. Prepare a cost of goods manufactured schedule. (Assume
Tombert Company is a manufacturer of computers. Its controller resigned in October 2022. An inexperienced assistant accountant has prepared the following income statement for the month of October
Aikman Corporation has the following cost records for June 2022: Instructions a. Prepare a cost of goods manufactured schedule for June 2022. b. Prepare an income statement through gross profit
An analysis of the accounts of Kananaskis Manufacturing reveals the following manufacturing cost data for the month ended June 30, 2022:Costs incurred: Raw materials purchases $64,000, direct labour
The following information is for Montreal Gloves Inc. for the year 2022:Sales in 2022 were 298,500 pairs of gloves for $18 per pair. Instructions a. What is the cost of goods sold for 2022? b.
The following incomplete income statement information is available for Sawchule Ltd. for 2022: The beginning inventory of work in process was $110,000 and there was no ending inventory of work in
Ladoca Company, a manufacturer of tennis racquets, started production in November 2022. For the preceding five years, Ladoca had been a retailer of sports equipment. After a thorough survey of tennis
The following data were taken from the records of Ruiz Manufacturing Company for the year ended December 31, 2022: Instructions a. Prepare a cost of goods manufactured schedule. (Assume all raw
Todd Motor Company manufactures automobiles. During September 2022, the company purchased 5,000 headlights at a cost of $8 per lights. There was no beginning inventory of lights. Todd withdrew 4,650
Agler Company is a manufacturer of toys. Its controller resigned in August 2022. An inexperienced assistant accountant has prepared the following income statement for the month of August 2022. Prior
HydroHappy’s management believes the net present value (NPV) method provides the best information to make capital budgeting decisions. NPV analysis indicates that purchasing new forklifts will
Drake Corporation is reviewing an investment proposal. The initial cost is $105,000. Estimates of the book value of the investment at the end of each year, the net cash flows for each year, and the
Presented here are the financial statements of Warner Company. Additional data:1. Depreciation expense was $17,500.2. Dividends declared and paid were $20,000.3. During the year, equipment was
Rojas Corporation’s comparative balance sheets are presented below. Additional information:1. Net income was $22,630. Dividends declared and paid were $19,500.2. No noncash investing and
Rodriquez Corporation’s comparative balance sheets are as follows. Additional information:1. Net income was $18,300. Dividends declared and paid were $16,400.2. Equipment which cost $10,000
Pietr Corporation reports operating expenses of $90,000, excluding depreciation expense of $15,000, for 2022. During the year, prepaid expenses decreased $7,200 and accrued expenses payable increased
In its 2019 statement of cash flows, what amount did Apple report for net cash (a) Provided by operating activities, (b) Used for investing activities, (c) Used for financing
Give the equations under the direct method for computing (a) Cash receipts from customers (b) Cash payments to suppliers.
What amount did Apple report as “Other comprehensive earnings” in its consolidated statement of comprehensive income ending September 28, 2019? By what percentage did Apple’s “Comprehensive
At May 31, 2022, the accounts of Lopez Company show the following. 1. May 1 inventories—finished goods $12,600, work in process $14,700, and raw materials $8,200.2. May 31
Fisk Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances. In addition, 8,000 units of product were sold at $8 per unit.
What is an activity cost pool?
What are the primary benefits of activity-based costing?
Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents per 16-ounce bottle to retailers. For the year 2022, management estimates the following revenues and
Determine the missing amounts. 1. 2. 3. Unit Selling Price $640 $300 (e) Unit Variable Costs $352 (f) Unit Contribution Margin (a) $93 $325 Contribution Margin Ratio (b) (d) 25%
Russell Inc. had sales of $2,200,000 for the first quarter of 2022 (it sold 220,000 units). In making the sales, the company incurred the following costs and expenses. Prepare a CVP income
Kaiser Industries carries no inventories. Its product is manufactured only when a customer’s order is received. It is then shipped immediately after it is made. For its fiscal year ended October
In 2021, Manhoff Company had a break-even point of $350,000 based on a unit selling price of $5 and fixed costs of $112,000. In 2022, the unit selling price and the unit variable costs did not
Billings Company has the following information available for September 2022. Instructionsa. Compute the unit contribution margin.b. Prepare a CVP income statement. Include columns for per unit
Naylor Company had $210,000 of net income in 2021 when the unit selling price was $140, the unit variable costs were $90, and the fixed costs were $570,000. Management expects per unit data and total
The GAAP income statement for Pace Company for the year ended December 31, 2022, shows sales $900,000, cost of goods sold $600,000, and operating expenses $200,000. Assuming all costs and expenses
Felde Bucket Co., a manufacturer of rain barrels, had the following data for 2021:Instructionsa. What is the contribution margin ratio?b. What is the break-even point in sales dollars?c. What is the
What are some of the limitations of regression analysis?
Determine the missing amounts. 1. 2. 3. Unit Selling Price $250 $500 (e) Unit Variable Costs $180 (c) Unit Contribution Margin (a) $200 $330 Contribution Margin Ratio (b) (d) 30%
Hamby Inc. has sales of $2,000,000 for the first quarter of 2022. In making the sales, the company incurred the following costs and expenses.Prepare a CVP income statement for the quarter ended March
Distinguish between absorption costing and variable costing.
Diane Buswell is preparing the 2022 budget for one of Current Designs’ rotomolded kayaks. Extensive meetings with members of the sales department and executive team have resulted in the following
Empire Company is a manufacturer of smartphones. Its controller resigned in October 2022. An inexperienced assistant accountant has prepared the following income statement for the month of October
Recall the Feature Story “Profiting from the Silver Screen” presented at the beginning of the chapter. Data analytics can help movie executives understand industry performance. Industry experts
Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are added at the beginning of each process, and conversion costs are
Florida Beach Company manufactures sunscreen, called NoTan, in 11-ounce plastic bottles. NoTan is sold in a competitive market. As a result, management is very cost-conscious. NoTan is manufactured
Rosenthal Company manufactures bowling balls through two processes: Molding and Packaging. In the Molding Department, the urethane, rubber, plastics, and other materials are molded into bowling
Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are added at the beginning, and conversion costs are incurred uniformly. Production and cost data
Rivera Company has several processing departments. Costs to be accounted for in the Assembly Department for November 2022 totaled $2,280,000 as follows. Production records show that 35,000 units
Polk Company manufactures basketballs. The first step is the production of internal rubber bladders. Materials are added at the beginning of the production process, and conversion costs are incurred
In Shady Company, materials are entered at the beginning of each process, and conversion costs are incurred uniformly throughout the process. Work in process inventories, with the percentage of work
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2022, the first month of operation. Production: 7,000 units completed and
Hamilton Processing Company uses the weighted-average method and manufactures a single product—an industrial carpet shampoo used by many universities. The manufacturing activity for the month of
Production costs of the Finishing Department in June in Hollins Company are materials $12,000, labor $29,500, and overhead $18,000. Equivalent units of production are materials 20,000 and conversion
The Blending Department of Luongo Company has the following cost and production data for the month of April.Units completed and transferred out totaled 17,000. Ending work in process was 1,000 units
Overton Company has gathered the following information. All materials are added at the beginning of the process, and conversion costs are incurred uniformly throughout the process.Instructionsa.
The following are incomplete manufacturing cost data. Determine the missing amounts for these three independent situations.
Lopez Corporation incurred the following costs during 2022.Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and $45,600
An incomplete cost of goods manufactured schedule is presented here.InstructionsComplete the cost of goods manufactured schedule for Hobbit Company. (Assume that all raw materials used were direct
What is activity-based costing, and what are its potential benefits?

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