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survey of accounting

Questions and Answers of Survey of Accounting

=+E12-19 Target costing Obj 2/b. $25 Spectrum Imaging Company manufactures color laser printers. Model A200 presently sells for$300 and has a total product cost of $250, as follows:Direct materials
=+b. What impact will target costing have on Toyota, given the assumed information?
=+a. What price will Toyota establish for the Camry for the upcoming model year?
=+El2-18 Target costing Obj 2 Toyota Motor Corporation uses target costing. Assume that Toyota marketing personnel esti¬mate that the competitive selling price for the Camry in the upcoming model
=+a. Determine the variable costs and the cost amount per unit for the production and sale of 3,500 units ofmobile phones.
=+E12-17 Variable cost concept of product pricing Obj 2/b. 41.67%Based on the data presented in Exercise 12-15, assume that Sirrus Phone Company uses the variable cost concept of applying the
=+c. Determine the selling price ofmobile phones. Round to the nearest dollar.
=+b. Determine the markup percentage (rounded to two decimals places) for mobile phones.
=+a. Determine the total manufacturing costs and the cost amount per unit for the production and sale of 3,500 units ofmobile phones.
=+El2-16 Product cost concept ofproduct pricing Obj 2/b. 28.30%Based on the data presented in Exercise 12-15, assume that Sirrus Phone Company uses the product cost concept of applying the cost-plus
=+d. Determine the selling price ofmobile phones. Round to the nearest dollar.
=+c. Determine the markup percentage (rounded to two decimals places) for mobile phones.
=+b. Determine the total costs and the cost amount per unit for the production and sale of 3,500 units ofmobile phones.
=+a. Determine the amount of desired profit from the production and sale ofmobile phones.
=+Sirrus desires a profit equal to a 30% rate ofreturn on invested assets of $350,000.
=+Sirrus Phone Company uses the total cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 3,500 units ofmobile phones are as follows:Variable
=+b. What is the minimum price per unit that would be financially acceptable to Sure-Grip?
=+a. Prepare a differential analysis report dated August 4, 2008, for the proposed sale to Conti¬nental Motors.
=+Sure-Grip pays a selling commission equal to 5% ofthe selling price on North American orders, which is included in the variable portion ofthe selling and administrative expenses.However, this
=+Sure-Grip Tire and Rubber Company has capacity to produce 170,000 tires. Sure-Grip pres¬ently produces and sells 130,000 tires for the North American market at a price of $90 per tire.Sure-Grip is
=+The company has an opportunity to submit a bid for 1,000 batteries to be delivered by May 31 to a government agency. Ifthe contract is obtained, it is anticipated that the additional activity will
=+c. What is the minimum price per unit that would produce a contribution margin?Jupiter Company expects to operate at 90% of productive capacity during May. The total manu¬facturing costs for May
=+b. Briefly explain the reason why accepting this additional business will increase operating income.
=+a. Prepare a differential analysis report for the proposed sale to Marshall Company.
=+in a foreign country under its own brand name. The additional business is not expected to affect the domestic selling price or quantity ofsales ofWorkman’s Denim Co.
=+El2-12 Decision on accepting additional business Obj 1 Va. Differential in¬come, $112,000 Workman’s Denim Co. has an annual plant capacity of 65,000 units, and current production is 45,000
=+c. Determine the price of DecafColombian that would cause neither an advantage or disad¬vantage for processing further and selling DecafColombian.
=+b. Should Golden Roast sell Colombian coffee or process further and sell DecafColombian?
=+a. Piepare a differential analysis report for the decision to sell or process further.
=+Golden Roast Coffee Company produces Colombian coffee in batches of 7,700 pounds. The standard quantity ofmaterials required in the process is 7,700 pounds, which cost $5.00 per pound. Colombian
=+E12-10 Sell or process farther Obj 1/a. $225 Oregon Lumber Company incurs a cost of $465 per hundred board feet in processing certain “rough-cut” lumber, which it sells for $625 per hundred
=+b. Based only on the data presented, should the proposal be accepted?c. What are some ofthe other factors that should be considered before a final decision is made?
=+a. Prepare a differential analysis report for the proposal to replace the machine. Include in the analysis both the net differential change in costs anticipated over the 15 years and the net annual
=+E12-9 Differential analysis report for machine replacement Obj 1 SPREADSHEET/a. Annual differential increase in costs,$2,500 Bay Area Electronics Company assembles circuit boards by using a
=+b. What is the sunk cost in this situation?464 Chapter 12
=+a. Determine the total and annualized differential income or loss anticipated from replacing the old machine.
=+A company is considering replacing an old piece ofmachinery, which cost $560,000 and has$320,000 of accumulated depreciation to date, with a new machine that costs $460,000. The old equipment could
=+c. What additional considerations might factor into the decision making?income, $12,v250
=+b. On the basis ofyour analysis in part (a), should the page layout work be purchased from an outside company?
=+a. Prepare a differential analysis report, dated December 15, 2007, for the make-or-buy decision, considering the 2008 differential revenues and costs.
=+The department expects to lay out 17,500 pages for 2008. The computers used by the department have an estimated salvage value of $5,000. The Publication Department office space would be used for
=+The Association ofRetired Educators (ARE) employs five people in its Publication Department.These people lay out pages for pamphlets, brochures, and other publications for the ARE mem¬bership. The
=+b. On the basis ofthe data presented, would it be advisable to make the carrying cases or to continue buying them? Explain.
=+a. Prepare a differential analysis report, dated June 5, 2008, for the make-or-buy decision.
=+/a. Cost savings from making, $3.00 per Direct materials $25.00 case Direct labor 32.00 Factory overhead (35% of direct labor) 11.20 Total cost per unit $68.20 If Hart Computer Company manufactures
=+Differential Analysis and Product Pricing 463 Hart Computer Company has been purchasing carrying cases for its portable computers at a delivered cost of $68 per unit. The company, which is
=+On the basis ofthe following data, the general manager of Feet to Go Inc. decided to discon¬tinue Children’s Shoes because it reduced income from operations by $26,000. What is the flaw in this
=+how much operating income would decline.
=+d. If Schwab decided to sell its Institutional Investor” accounts to another company, estimate
=+c. Estimate the contribution margin for each segment.
=+b. Provide a specific example of a variable and fixed cost in the “Individual Investor” segment.
=+a. How do you believe Schwab defines the difference between the “Individual Investor” and“Institutional Investor” segments?
=+E12-4 Segment analysis Obj 1 E12-5 Decision to discontinue a product Obj 1 The Charles Schwab Corporation is one ofthe more innovative brokerage and financial service companies in the United
=+b. Should the Cups line be retained? Explain.
=+a. Prepare a differential analysis report for all three products for 2008.
=+E12-3 Differential analysis report for a discontinued product Obj 1 SPREADSHEET/a. Differential income:bowls, $46,450 The condensed product-line income statement for Country Ceramics Company for
=+b. Should Lemon Mist be retained? Explain.
=+a. Prepare a differential analysis report, dated January 3, 2008, for the proposed discontinu¬ance ofLemon Mist.
=+E12-2 Differential analysis report for a discontinued product Ob] 1/a. Differential cost of annual sales,$299,400 A condensed income statement by product line for Canadian Beverage Inc. indicated
=+b. On the basis ofthe data presented, would it be advisable to lease or sell the machinery?Explain.
=+a. Prepare a differential analysis report, dated January 3, 2008, for the lease or sell decision.
=+E12-1 Lease orsell decision Obj 1 SPREADSHEET Va. Differential revenue from lease, $30,000 VanderhoffConstruction Company is considering selling excess machinery with a book value of$260,000
=+15. What is the appropriate measure of a products value when a firm is operating under production bottlenecks?
=+14. What is a production bottleneck?
=+13. Under what circumstances is it appropriate to use the target cost concept?
=+12. How does the target cost concept differ from cost-plus approaches?
=+11. What method of determining product cost may be appropriate in settings where the manufacturing process is complex?
=+what are some examples of other factors that managers should also consider in setting product prices?
=+10. Although the cost-plus approach to product pricing may be used by management as a general guideline,
=+9. Why might the use ofideal standards in applying the cost-plus approach to product pricing lead to setting product prices that are too low?
=+8. Many fast-food restaurant chains, such as McDonald’s, will occasionally discontinue restaurants in their system. What are some financial considerations in deciding to eliminate a store?
=+7. A company fabricates a component at a cost of $6.00. A supplier offers to supply the same component for $5.50.Under what circumstances is it reasonable to purchase from the supplier?
=+6. A company accepts incremental business at a special price that exceeds the variable cost. What other issues must the company consider in deciding whether to accept the business?
=+5. A chemical company has a commodity-grade and a premium-grade product. Why might the company elect to process the commodity-grade product further to the premium-grade product?
=+4. A company could sell a building for $250,000 or lease it for $2,500 per month. What would need to be considered in determining ifthe lease option would be preferred?
=+3.In the long run, the normal selling price must be set high enough to cover what factors?Differential Analysis and Product Pricing 461
=+what type of decision illustrated in this chapter?
=+Exabyte’s chief executive officer, Peter Behrendt, states, Ifwe’d tried to build our own plants, we could never have grown that fast or maybe survived.” The decision to purchase key product
=+2. It was reported that Exabyte, a fast-growing (100-fold in 4 years) Colorado marketer oftape drives, has de¬cided to purchase key components ofits product from others. For example, Sony provides
=+1. Explain the meaning of (a) differential revenue,(b) differential cost, and (c) differential income.
=+From a profitability perspective, which product should be emphasized in April’s advertising campaign?A. Product 1 C. Product 3 B. Product 2 D. All three Class Discussion Questions
=+5.Mendosa Company produces three products. All the products use a furnace operation, which is a produc¬tion bottleneck. The following information is available:Product 1 Product 2 Product 3 Unit
=+4.For which cost concept used in applying the cost-plus approach to product pricing are fixed manufacturing costs, fixed selling and administrative expenses, and desired profit allowed for in
=+3. Henry Company is considering spending $ 100,000 for a new grinding machine. This amount could be invested to yield a 12% return. What is the opportunity cost?A. $112,000 C. $12,000 B. $88,000 D.
=+2. Victor Company is considering disposing of equip¬ment that was originally purchased for $200,000 and has $150,000 of accumulated depreciation to date. The same equipment would cost $310,000 to
=+1. Mario Company is considering discontinuing a prod¬uct. The costs ofthe product consist of $20,000 fixed costs and $15,000 variable costs. The variable operating expenses related to the product
=+Given this information, how would you respond to senior management?
=+Sales volume has been dropping at Winona Publishing Company. During this time, however, the Shipping Department manager has been under severe financial constraints. The manager knows that most
=+As you can see, the four-color banner is a new product offering for the upcoming year The owner believes that the expected 425-unit increase in volume from last year means that direct labor
=+A11 -4 The owner of Banner-Tech, a printing company, is planning direct labor needs for the upcoming Variable costs and activity year. The owner has provided you with the following information for
=+Which strategy is best: Do nothing? Follow the advice of Alex Clarke? Or follow Molly Smith’s strategy?
=+Anticipated sales price per unit $30 Variable cost per unit* $1 5 Anticipated volume 500,000 Production costs $5,000,000 Anticipated advertising $2,500,000*The cost ofthe video game, packaging, and
=+Break-even analysis“For a student, a grade of 65 percent is nothing to write home about. But for the airline ... [in dustry], filling 65 percent ofthe seats ... is the difference between profit
=+A11-1 Ethics and professional conduct in business ETHICS Paul Hambel is a financial consultant to Tecau Properties Inc., a real estate syndicate. Tecau Properties Inc. finances and develops
=+6. Determine the operating leverage.Activities
=+5. What is the expected margin ofsafety?
=+4. Construct a cost-volume-profit chart indicating the break-even sales.
=+3. Determine the break-even sales in units.
=+2. What is the expected contribution margin ratio?
=+1. Prepare an estimated income statement for 2008.

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