costing methods

. The firm You are employed by Maddie's Corp. an Accounting Firm based in Houston has recently been asked by a client, a medium-sized manufacturing company in California to provide advice and recommendations to improve the company's existing costing system. The CEO of the manufacturing company is keen to implement standard costing. Requirement: Draft a report for your client that: a. b. Outlines the purposes of standard costing Explains the operating mechanisms of the standard costing system The company is also looking to expand and wishes to understand the scope, structure and purpose of transfer pricing. Requirement: Draft a report for your client that: C. Explains how transfer pricing works

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…

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.

please answer this and show the calculation for numbers with all other work answer in text thanks

2

Can I have some help with the value-added ratio in part 1 please

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?

Any help as soon as possible would be so appreciated, thanks

Please do not give solution in image format thanku

Murdocn Ledr XAA is considering different costing options. They are now using a traditional costing procedures which applies overhead on the basis of machine hours. They have two products, A and B. XAA is considering a shift to activity-based costing and has created three cost pools. Data ón the cost pools and respective driver are shown below. Pool 1 Pool 2 Pool 3 Driver: Machine Driver: Driver: Product hour setup parts 2,250 A 1,200- 45 2,800 55 750 Pool Cost 160,000 280,000 360,000 $4 The overhead cost allocated to product A by using activity-based costing procedures would be: O a. $240,000. O b. $356,000. O c. $444,000. o d. $560,000. O e. some other amount. O Type here to search

Please do not give solution in image format thanku

I need help with this one please thank you!

Hello tutor provide answer this accounting question

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…

Please do not give solution in image format thanku

Please do not give solution in image format thanku

Please dont provide solution in an image based answers thank you

You are employed as a research and development manager for a production company. The chief ex- ecutive officer of the company has asked you to generate costing data to better assist in expansionary planning for the company. You are required to generate costs data from the equation below. C(y)=23y2 +12y+8 assume10

Q.How might Decorative Doors, Inc., use the new cost information from its activity-based costing system to address the declining market share for interior doors?

A1

Required information Skip to question [The following information applies to the questions displayed below.] Zenon Computer competes at the retail level on the basis of customer service. It has invested significant resources in its customer service department. Recently, the company has installed a traditional activity-based costing (ABC) system to provide better cost information for pricing, decision making, and customer profitability analysis. Most of the costs of running the customer service department are considered committed (i.e., short-term fixed) costs (principally, personnel and equipment costs). The budgeted cost for the upcoming period is $832,000. Activity analysis, recently conducted when the ABC system was implemented, revealed the following information: Activities Percentage of Employee Time Estimated (Budgeted) Cost Driver Quantity Handling customer orders 75% 8,320 customer orders Processing customer complaints 10 416 customer complaints Conducting customer credit checks…

Refer to the given notes in images. Part 1: Understanding Activity-Based Costing Discuss why ABC is important for organizations in today's business environment. Highlight the limitations of traditional costing methods. Please answer both parts with full details explanation and don't copy from other websites no plagiarism. Expect help. ^^$#+×=>>

company You are a management accountant of EON and Brothers Ltd., a manufacturing that produces two products simultaneously in one of their production plants. You are asked to produce a management report on costing techniques. This company follows a traditional approach to costing and absorbs production overhead using machine hours. The company's policy is to add a 50% markup on the unit cost to obtain the selling price. The relevant information is given below: EON and Brothers Ltd. produces two similar products called Alfa and Beta. Total Overheads = £155,000 Machine Hours = 58980 hrs Product Alfa Beta Production Units 2,580 5,100 Material Cost per unit £31 £51 Labour Cost per unit £21 £17 Machine Hours per unit 11 16 After discussing with all the important people of the production plant you have allocated the overhead costs as mentioned below: % Overheads Set up Costs 30 Inspections 40 Materials Handling 30 Cost Pools are as mentioned below: Alfa Beta Total Setups 400 65 465…