costing methods

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Instructions: Read and analyze the scenario below. Write your answers on the spaces provided. In the Interesting box, write down how each costing method would contribute in achieving the main objective of Expedia Industries. In the My Decision box, write down your Recta recommendation about the most effective costing approach that will resolve the problem in the given scenario using one (1) between the two (2) costing methods being compared. Scenario: Expedia Industries Expedia Industries is the largest supplier and manufacturer of modern women's clothing in the United States. The main objective of the company is to establish a costing procedure that will monitor the inflow and outflow of their raw materials relative in their production of clothes. The board members of the company have separate views in employing FIFO costing method or the Moving Average costing method since according to most of them, their major raw material which is cotton doesn't even have an expiration date, and…

Value chain classifications Match each of the following cost items with the value chain business function where you would expect the cost to be incurred: Cost Item Answer Business Function a. Research and development b. Design c. Production d. Marketing e. Distribution t Customer service 1. Labor time to repair products under warranty 2. TV commercial spots 3. Labor costs of filling customer orders 4. Testing of competitor's product 5. Direct manufacturing labor costs 6. Development of order tracking system for the Internet 7. Printing cost of new product brochures 8. Hours spent designing childproof bottles 9. Training costs for representatives to staff the customer call center 10. Installation of robotics equipment in manufacturing plant

Objective 2 - Define the concept of relevant costs and revenues.4 - Apply the tactical decision-making concepts in a variety of business situations. Apollonia Dental Services is part of an HMO that operates in a large metropolitan area. Currently, Apollonia has its own dental laboratory to produce two varieties of porcelain crowns-all porcelain and porcelain fused to metal. The unit costs to produce the crowns are as follows: cengage.com/static/nb/uvevolindex.html?elSBN=97813059707248id=187456249&nbld=524649&snapshotid=524649&dockAppUid=1. 7/13 Print Preview Porcelain Fused All Porcelain to Metal Direct materials S190 $ 80 Direct labor 50 20 Variable overhead 25 5 Fixed overhead 60 40 Total S325 $145 Fixed overhead is detailed as follows: Salary (supervisor) Depreciation Rent (lab facility) $30,000 8,000 22,000 Overhead is applied on the basis of direct labor hours. The rates above were computed using 8,000 direct labor hours. No significant non-unit-level overhead costs are incurred.

What are the Costs per unit of Alfa and Beta under traditional and ABC costing systems? What would be the prices of Alpha and Beta traditional and ABC costing systems? Compare the costs and prices calculated in the two systems. Please write down the calculation process!thanks!!!

Match each of the following cost items with the value chain business function where you would expect the cost to be incurred: Cost Item 1. Labor time to repair products under warranty 2. Radio commercials 3. Labor costs of delivering customer orders 4. Testing of competitor's product 5. Direct manufacturing labor costs 6. Development of order tracking system for online sales 7. Design cost of new product brochures 8. Hours spent designing childproof bottles 9. Training costs for representatives to staff the customer call center 10. Installation of robotics equipment in manufacturing plant Business Function

Match each of the following cost items with the value chain business function where you would expect the cost to be incurred: Cost Item 1. Purchase of raw materials 2. Advertising 3. Salary of research scientists 4. Delivery expenses 5. Reengineering of product assembly process 6. Replacement labor expense for warranty repairs 7. Manufacturing supplies 8. Sales salaries 9. Purchase of CAD (computer-aided design) software 10. Salary of website manager Business Function

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Vijay Subject: accounting

Computing product costs in an ABC system The Alright Manufacturing Company in Rochester, Minnesota, assembles and tests electronic components used in smartphones. Consider the following data regarding component T24 (amounts are per unit): Requirements Complete the missing items for the two tables. Why might managers favor this ABC system instead of Alright’s older system, which allocated all manufacturing overhead costs on the basis of direct labor hours?

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Question 4

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Cost of Goods Manufactured, Cost Identification, Solving for UnknownsObjective 2 - Explain the cost assignment process., 4 - Prepare incomestatements for manufacturing and service organizations.Allight Test Design Company creates, produces, and sells Intemet-basedCPA and CMA review courses for individual use. Davis Webber, head ofhuman resources, is convinced that question development employees musthave strong analytical and problem-solving skills. He asked Andrea Benson,controller for Allright Test Design, to help develop problems for use inscreening applicants before they are interviewed. One of the problems Andreadeveloped is based on the following data for a mythical company (Mythic, Inc.)for the previous year:a. Conversion cost was $140,000 and was four times the prime cost,b. Direct materials used in production equaled $5,000.c. Cost of goods manufactured was $154,000.d. Ending work in process is 40 percent of the cost of beginning work inprocess.e. There are no beginning or…

Part 3:  Activity-Based Costing Similarly, Mr. Suncat has a couple of questions for you regarding the activity-based costing method.  He has provided the following additional information:           Cost Pools         Cost Drivers         Estimated Overhead       Expected Use of Cost Drivers Expected Use of Cost Driver:  Basic Wedding Cake Expected Use of Cost Driver Multi-Layer Wedding Cake Expected Use of Cost Driver Custom Wedding Cake Initial customer meeting Number of hours spent with customer $15,000 4.5 hours 0.75 hour 1.25 hours 2.5 hours Purchasing ingredients Number of purchase requisitions $15,000 1000 requisitions 150 requisitions 300 requisitions 550 requisitions Making and baking the wedding cakes Direct Labor hours $40,000 5.5 hours 1.25 hour 2 hours 2.25 hours Decorating the wedding cakes Direct Labor hours $70,000 9.5 hours 1.75 hours 3 hours 4.75 hours Final customer meeting and cake…

ences Mc Hill Johnny Lee Incorporated produces a line of small gasoline-powered engines that can be used in a variety of residential machines, ranging from different types of lawnmowers, to snowblowers, to garden tools (such as tillers and weed-whackers). The basic product line consists of three different models, each meant to fill the needs of a different market. Assume you are the cost accountant for this company and that you have been asked by the owner of the company to construct a flexible budget for factory overhead costs, which seem to be growing faster than revenues. Currently, the company uses machine hours (MHS) as the basis for assigning both variable and fixed factory overhead costs to products. 3 Within the relevant range of output, you determine that the following factory fixed overhead costs per month should occur: engineering support, $17,000; insurance on the manufacturing facility. $7,000: property taxes on the manufacturing facility, $14,000; depreciation on…

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