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Exercise 10-28 Activity-Based Costing of Suppliers (L.O. 3, 4) Davis Fabricators buys metal for manufacturing from two suppliers, Alpha Metals and First Parts. If the metal is delivered late, the shipment to the customer is delayed. Delayed shipments lead to contractual penalties that call for Davis to reimburse a portion of the purchase price to the customer. During the past quarter, the purchasing and delivery data for the two suppliers showed the following: Alpha First Total Total purchases 16,50 11,000 5,500 (tons) 0 Average purchase $ 10.00 $16.00 $ 12.00 price Number of 80 20 100 deliveries Percentage of late 25% 5% 21% deliveries The accounting department recorded $32,670 as the cost of late deliveries to customers. Required: Assume that the average quality, measured by the percentage of late deliveries, and prices from the two companies will continue as in the past. What is the effective price for metal from the two companies when late deliveries are considered? (Do not round your intermediate calculations. Round your answers to 2 decimal places. Omit the "$" sign in your response.) Alpha Effective cost per ton $ First $ Exercise 10-41 Trading-Off Costs of Quality (L.O. 7, 8) Nuke-It-Now manufactures microwave ovens. The following represents the financial information from one of its manufacturing plants for two years. Sales Year 1 Year 2 3,490,00 3,890,00 $ $ 0 0 Costs Redesign process $ 31,000 $ 36,500 Discard defective 36,100 42,900 units Training on 241,000 203,000 equipment Warranty claims 134,000 179,000 Contract 209,000 154,000 cancellations Rework 66,000 102,000 Preventive 142,000 114,000 maintenance Product liability 300,000 173,000 claims Final inspection 194,000 201,000 Required: Construct a cost of quality report for year 1 and year 2. (Round your percentage values to 1 decimal place. Omit the "$" and "%" signs in your response.) Sales Year 1 $ Nuke-It-Now Corporation Cost of Quality Report % Year 2 $ % Prevention: $ $ (Click to select) (Click to select) (Click to select) Total prevention costs $ % $ Appraisal: $ $ $ $ $ $ $ $ (Click to select) Internal failure: (Click to select) (Click to select) Total internal failure costs External failure: (Click to select) (Click to select) (Click to select) % $ Total external failure costs Total Costs of Quality $ $ % $ Exercise 13-18 Estimate Sales Revenues (L.O. 3) Starlite Company manufactures office products. Last year, it sold 20,000 electric staplers for $25 per unit. The company estimates that this volume represents a 25 percent share of the current electric stapler market. The market is expected to increase by 10 percent next year. Marketing specialists have determined that as a result of new competition, the company's market share will fall to 20 percent (of this larger market). Due to changes in prices, the new price for the electric staplers will be $26 per unit. This new price is expected to be in line with the competition and have no effect on the volume estimates. Required: Estimate Starlite's sales revenues from electric staplers for the coming year. (Round your answer to the nearest dollar amount. Omit the "$" sign in your response.) Sales revenue $ Exercise 13-30 Prepare Budgeted Financial Statements (L.O.6) Rhodes, Inc., is a fast-growing start-up firm that manufactures bicycles. The following income statement is available for July: Revenues (210 units @ $520 per unit) $ Less Manufacturin g costs Variable costs Depreciatio n (fixed) Marketing and administrative costs Fixed costs (cash) Depreciatio n (fixed) Total costs Operating profits 109,200 15,300 16,200 37,500 13,700 $ 82,700 $ 26,500 % Sales volume is expected to increase by 20 percent in August, but the sales price is expected to fall 10 percent. Variable manufacturing costs are expected to increase by 3 percent per unit in August. In addition to these cost changes, variable manufacturing costs also will change with sales volume. Marketing and administrative cash costs are expected to increase by 5 percent. Rhodes operates on a cash basis and maintains no inventories. Depreciation is fixed and should remain unchanged over the next three years. Required: Prepare a budgeted income statement for August. (Do not round intermediate calculations. Input all amounts as positive values. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.) Rhodes, Inc. Budgeted Income Statement August $ (Click to select) Less: Manufacturing costs: $ Total manufacturing costs $ $ (Click to select) Less: Marketing and Administrative: $ Total marketing and administrative costs $ $ (Click to select) Exercise 13-35 Sensitivity Analysis (L.O. 9) Bay Area Limos operates transportation services to Bay City airport. The price of service is fixed at a flat rate for each trip and most costs of providing the service are fixed for each trip. Betty Smith, the owner, forecasts income by estimating two factors that fluctuate with the economy: the fuel cost associated with the trip and the number of customers who would take trips. Looking at next year, Betty develops the following estimates of contribution margin (price less variable costs, including fuel) for the estimated number of customers. For simplicity, she assumes that the fuel costs (therefore the contribution margin per ride) and the number of customers are independent. Scenario Excellent Fair Poor Contribution Margin per Ride (Price - Variable cost) $ 45 35 20 Number of Customers 4,600 3,000 2,300 In addition to the costs of a ride, Betty estimates that other service costs are $54,000 plus $4 for each customer (ride) in excess of 3,000 rides. Annual administrative and marketing costs are estimated to be $23,000 plus 10 percent of the contribution margin. Required: Compute the total contribution, costs and operating profit for each of the scenario and each group of customer. (Input all amounts as positive values except losses which should be indicated with a minus sign. Omit the "$" sign in your response.) Poor Total Contribution Number of Contribution Service Margin Customers Margin Costs 20 $ 2,300 $ $ Fair $ Excellent $ Poor $ Fair $ Excellent $ Poor $ Fair $ 35 45 20 35 45 20 35 Marketing & Operating Admin. Profit(Loss) $ $ 2,300 $ $ $ $ 2,300 $ $ $ $ 3,000 $ $ $ $ 3,000 $ $ $ $ 3,000 $ $ $ $ 4,600 $ $ $ $ 4,600 $ $ $ $ Excellent $ 45 4,600 $ $ $ $ Exercise 16-22 Prepare Flexible Budget (L.O. 2) Data-2-Go manufactures and sells flash drives. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Sales revenue Actual (based on actual of 425,000 units) 2,970,00 $ 0 Less Variable costs Blank flash drives Direct labor Variabl e overhead Variabl e marketing and administrat ive Master Budget (based on budgeted 400,000 units) 3,600,00 $ 0 900,000 880,000 237,500 210,000 353,500 390,000 307,500 300,000 Total variable costs $ 1,798,50 0 $ 1,780,00 0 Contributi on margin $ 1,171,50 0 $ 1,820,00 0 Less Fixed costs Manuf acturing overhead Market ing Admini strative 573,000 625,000 175,000 175,000 99,000 112,500 Total fixed costs $ 847,000 $ 912,500 Operating profits $ 324,500 $ 907,500 Required: Prepare a flexible budget for Data-2-Go. (Input all amounts as positive values. Do not round your intermediate calculations. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.) Sales revenue Flexible budget (based on actual of 425,000 units) $ Variable costs: Blank drives Direct labor Variable overhead Variable marketing and administrative Total variable costs Contribution margin $ $ Fixed costs: Manufacturing overhead Marketing Administrative Total fixed costs Operating profits $ $ Exercise 16-23 Sales Activity Variance (L.O. 3) Data-2-Go manufactures and sells flash drives. The company produces only when it receives orders and, therefore, has no inventories. The following information is available for the current month: Sales revenue Actual (based on actual of 425,000 units) 2,905,00 $ 0 Less Variable costs Blank flash drives Direct labor Variabl e overhead Variabl e marketing and administrat ive Master Budget (based on budgeted 400,000 units) 3,280,00 $ 0 900,000 880,000 247,500 210,000 358,500 390,000 305,000 300,000 Total variable costs $ 1,811,00 0 $ 1,780,00 0 Contributi on margin $ 1,094,00 0 $ 1,500,00 0 Less Fixed costs Manuf acturing overhead Market ing Admini strative 586,000 575,000 175,000 175,000 98,000 110,000 Total fixed costs $ 859,000 $ 860,000 Operating profits $ 235,000 $ 640,000 Required: Prepare a sales activity variance analysis for Data-2-Go. (Input all amounts as positive values. Leave no cells blank, be certain to insert "0" wherever required. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Do not round your intermediate calculations. Round your answers to the nearest dollar amount. Omit the "$" sign in your response.) Sales revenue Flexible Budget (based on actual of 425,000 units) $ Sales Activity Variance $ Variable costs: Blank drives (Click to select) Master Budget (based on budgeted 400,000 units) $ 3,280,000 (Click to select) (Click to select) Total variable costs $ $ Contribution margin $ $ 390,000 (Click to select) Variable overhead Variable marketing and administrative 210,000 (Click to select) Direct labor 880,000 300,000 $ 1,780,000 (Click to select) $ 1,500,000 (Click to select) Fixed costs: Manufacturi $ ng overhead (Click to select) $ 575,000 Marketing (Click to select) 175,000 Administrati (Click to select) 110,000 ve Total fixed costs $ $ Operating profits $ $ (Click to select) $ 860,000 (Click to select) $ 640,000 Exercise 16-28 Variable Cost Variances (L.O. 5) The following data reflect the current month's activity for Sills, Inc.: Actual total direct labor $ Actual hours worked Standard labor-hours allowed for actual output (flexible budget) Direct labor price variance Actual variable overhead Standard variable overhead rate per standard direct labor-hour 158,64 0 12,000 13,500 $ 3,840 U $ 38,200 $ 3.30 Variable overhead is applied based on standard direct labor-hours allowed. Required: Compute the labor and variable overhead price and efficiency variances. (Do not round your intermediate calculations. Input all amounts as positive values. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Omit the "$" sign in your response.) Price Variance Direct labor Variable overhead Efficiency Variance $ $ (Click to select) (Click to select) $ $ (Click to select) (Click to select) Exercise 18-26 Manufacturing Cycle Time and Efficiency (L.O. 6) Lancaster Metals has the following average times (in hours): Transporting product Manufacturing product Inspecting product Storing inventory 0.25 1.00 0.25 2.50 Required: Calculate the manufacturing cycle efficiency. (Omit the "%" sign in your response.) Manufacturing cycle efficiency % A-13 Present Value Analysis in Nonprofit Organizations The Johnson Research Organization, a nonprofit organization that does not pay taxes, is considering buying laboratory equipment with an estimated life of 7 years so it will not have to use outsiders' laboratories for certain types of work. The following are all of the cash flows affected by the decision: Investment (outflow at time 0) $ 6,450,00 0 Periodic operating cash flows: Annual cash savings because outside laboratories are not used Additional cash outflow for people and supplies to operate the equipment Salvage value after seven years, which is the estimated life of this project Discount rate 1,430,00 0 230,000 430,000 8% Required: Calculate the net present value of this decision. Should the organization buy the equipment? (Round present value factors to three decimal places. Negative amount should be indicated by a minus sign.) Yes No