3-2 Milestone One- Draft of Cost-Volume-Profit Analysis

Question 6.1                                                                                                         For each item listed, select the appropriate purpose of cost allocation from the list below. A purpose may be used more than once. A - To provide information for economic decisions B - To motivate managers and other employees C - To measure income and assets for reports to external parties D - To justify costs or compute reimbursement amounts   Required To encourage simpler product design To cost inventories for reporting on a company's tax return To encourage the sales department to focus on high-margin products To evaluate a make or buy decision To cost inventories for the balance sheet To decide whether to add or delete a product line To decide on an appropriate selling price for a special-order product To cost a product at a fair price for government contracts

6 MyPath Home Content O Managerial Accounting, Fifteenth x Answered: Exercise 4-2 Equivalen x O File | C:/Users/pse/Documents/managerial-accounting-15th-edition.pdf Managerial Accounting, Fifteenth Edition 203 / 795 Tiepare journar CnnCS to Tecoru iems (a) urougn (T) avove. EXERCISE 4-2 Computation of Equivalent Units-Weighted-Average Method [LO4-2] Clonex Labs, Inc., uses a process costing system. The following data are available for one depart- ment for October: Percent Completed Units Materials Conversion Work in process, October 1 30,000 65% 30% Work in process, October 31 15,000 80% 40% The department started 175,000 units into production during the month and transferred 190,000 completed units to the next department. Required: Compute the equivalent units of production for October assuming that the company uses the weighted-average method of accounting for units and costs. 1:43 PM e Type here to search 3/31/2020 124

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Part 3 Analytics Assignment: Managerial Decision Making [The following information applies to the questions displayed below.] These questions relate to the Integrated Analytics Case: Bene Petit. Select the appropriate eBook link to open the Case Overview, Case Background, and Part 3: Managerial Decision Making. The following table summarizes the operating results for Bene Petit's first year of operations: Bene Petit First Year Operating Data: Single (1 Dual (1) serving) serving) 3,000 5,000 3,000 750 10,000 1,250 5,000 3,000 6 10 Family (1) Total serving) 12,000 20,000 48,000 61,000 3,000 5,000 12,000 20,000 24 40 Customer Meals Sold Total Customer Servings Customer Orders (Average = 4 meals per order) Number of Donated Meals (Average = 4 meals per order) Number of Donated Deliveries (500 meals per delivery) Additional information about selling prices, variable costs, and fixed costs is summarized below: • The average sales price for customer meals is $5 per serving. • The average…

Question 6.1                                                                                                                    For each item listed, select the appropriate purpose of cost allocation from the list below. A purpose may be used more than once. A - To provide information for economic decisions B - To motivate managers and other employees C - To measure income and assets for reports to external parties D - To justify costs or compute reimbursement amounts

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Island Novelties, Incorporated, of Palau makes two products-Hawailan Fantasy and Tahitian Joy. Each product's selling price, variable expense per unit and annual sales volume are as follows: Selling price per unit Variable expense per unit Number of units sold annually Fixed expenses total $325,000 per year Hawaiian Fantasy $ 20 $13 15,000 Check my wor Tahitian Joy $ 125 $ 50 5,100 Required: 1. Assuming the sales mix given above, do the following a. Prepare a contribution format income statement showing both dollar and percent columns for each product and for the comparty as a whole. b. Compute the company's break-even point in dollar sales. Also, compute its margin of safety in dollars and its margin of safety percentage 2. The company has developed a new product called Samoan Delight that sells for $45 each and that has variable expenses of $27 per unit. If the company can sell 12,500 units of Samoan Delight without incurring any additional fixed expenses: a. Prepare a revised…

Chapter 2 (Continued):  Basic Cost Management Concepts College offers students a number of different majors and disciplines.  These majors and disciplines have department chairpersons who are responsible for the department budget preparation.  Please define direct costs and indirect costs and then prepare a list of three direct and three indirect costs for the Accounting Department at  College. Hint:  See Exercise 10 in Chapter 2 of your eText.

Spring 2021 : Cost Accounting - ACT208 Dashboard My courses  ACT208 (S21)  Najay Murray - Notes  Discussion Question 1  Discussion Question 1   Search Search forums     Discussion Question 1 Discussion Question 1  Settings    Display mode                     Display replies flat, with oldest first                     Display replies flat, with newest first                     Display replies in threaded form                     Display replies in nested form              Discussion Question 1 by Najay Murray - Thursday, 21 January 2021, 12:12 AM Number of replies: 9     Within the costing system of a manufacturing company the following types of expenses were incurred: Cost of oils used to lubricate production machinery Motor vehicle licenses for lorries Depreciation of factory plant and equipment Cost of chemicals used in the laboratory Commission paid to sales representatives Salary of the secretary to the finance director Trade discount given…

Textbook review

Problem 7-5A a, b1-b3, c (Part Level Submission) (Video) Brislin Company has four operating divisions. During the first quarter of 2020, the company reported aggregate income from operations of $210,600 and the following divisional results.     Division       I   II   III   IV   Sales   $245,000   $197,000   $504,000   $450,000   Cost of goods sold   200,000   192,000   301,000   249,000   Selling and administrative expenses   72,400   63,000   58,000   50,000   Income (loss) from operations   $ (27,400)   $ (58,000)   $145,000   $151,000   Analysis reveals the following percentages of variable costs in each division.     I     II     III     IV     Cost of goods sold   73 %   91 %   82 %   75 %   Selling and administrative expenses   39     59     50     61     Discontinuance of any division would save 50% of the fixed costs and expenses for that division.Top management is very concerned about the unprofitable divisions (I and II). Consensus is that one or…

QUESTION: 62 DATA CONCERNING THREE OF THE ACTIVITY COST POOLS OF SALCIDO LLC, A LEGAL FIRM, HAVE BEEN PROVIDED BELOW: ACTIVITY COST POOL TOTAL COST TOTAL ACTIVITY RESEARCHING LEGAL ISSUES $21,230 690 RESEARCH HOURS MEETING WITH CLIENTS PREPARING DOCUMENTS $1,205,892 7,353 MEETING HOURS $92,590 5,790 DOCUMENTS THE ACTIVITY RATE FOR THE "MEETING WITH CLIENTS" ACTIVITY COST POOL IS

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Question 1 of 2 View Policies Current Attempt in Progress Wildhorse Company manufactures its product, Vitadrink, through two manufacturing processes: Mixing and Packaging. All materials are entered at the beginning of each process. On October 1, 2022, inventories consisted of Raw Materials $31,720, Work in Process- Mixing $0, Work in Process-Packaging $305,000, and Finished Goods $352,580. The beginning inventory for Packaging consisted of 12,200 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 61,000 units were started into production in the Mixing Department and the following transactions were completed. 1. Purchased $366,000 of raw materials on account. 2. Issued direct materials for production: Mixing $256,200 and Packaging $54,900. 3. Incurred labor costs of $340,258. (Use Wages Payable.) anAw~~ Used factory labor: Mixing $222,650 and Packaging $117,608. 5. Incurred $988,200 of manufacturing overhead on account. Applied…