Performance metricsApples & Oranges Inc. is trying to become more efficient in shipping goods. It is experimenting with two new shipping procedure initiatives aimed at achieving thisstrategic objective. The company has provided the following data regarding the two procedures after one month of implementation:Shipping Procedure AShipping Procedure B7217.37.7Number of shipping errorsHours from ordered to shipped -Shipping time (hours from shipped to delivered)Pounds of goods shippedNumber of shipmentsa. Compute the following performance metrics for each program:(1) Average number of shipping errors per shipment, rounded to two decimal places.720,000200Procedure A:error per shipmentProcedure B:error per shipment(2) Hours from ordered to delivered, rounded to one decimal place.hours from ordered to deliveredhours from ordered to deliveredProcedure A:Procedure B:(3) Average pounds of goods per shipment.Procedure A:lbs. of goods per shipmentProcedure B:lbs. of goods per shipment ib. Which program should the company implement moving forward?12020.26.5500,000250

Shipping procedure basically involves all the processes from receiving an order till delivering it…

Answered: a. Compute the following performance…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Krueger Corporation in Washington, D.C., U.S., recently implemented a standard cost system. The company’s cost accountant has gathered the following information needed to perform a variance analysis at the end of the month: Standard Cost Information Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $5 per pound Quantity allowed per unit . . . . . . . . . . . . . . . . . . . . . . . .100 pounds per unit Direct labor rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20.00 per hour Hours allowed per unit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 hours per unit Fixed overhead budgeted . . . . . . . . . . . . . . . . . . . . . . . . $12,000 per month Normal level of production . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200 units Variable overhead application rate . . . . . . . . . . . . . . . . . . . $ 2.00 per unit Fixed overhead application rate ($12,000 _ 1,200 units) . . . 10.00 per unit…
Elmo Security Consultants (ESC) offer a standardized review of data security for small business owners. The following data apply to the provision of these reviews: Sales price per unit (1 unit = 1 review with recommendations) Fixed costs (per month): Selling and administration Production overhead (e.g., rent of facilities) Variable costs (per review): Labor for oversight and feedback. Outsourced security analysis Materials used in reviews Review overhead Selling and administration (e.g., scheduling and billing) Number of reviews per month a. Variable review (production) cost per unit b. Variable total cost per unit c. Full cost per unit d. Full absorption cost per unit e. Prime cost per unit Required: Calculate the amount for each of the following (one unit = one review) if the number of reviews is 2,500 per month. Also calculate if the number of reviews decreases to 2,000 per month. Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar. f.…
Sunny Corporation has collected the following data for one of its products: Direct materials standard (3 pounds per unit @ $0.40/lb.) Actual direct materials purchased Actual Direct Materials Used (AQU) Actual Price (AP) paid per pound How much is the direct materials price variance? O A. $1,610 unfavorable B. $2,240 favorable C. $1,610 favorable O D. $2,240 unfavorable $1.20 per finished good 32,000 pounds 23,000 pounds $0.47
Question (2): For each of the following activities, identify the function the accountant is performing- scorekeeping, attention directing, or problem solving. 1. Producing various reports of organization to evaluate results for stores and divisions. 2. Preparing a monthly statement of sales for the marketing manager. 3. Interpreting variances on the performance report for the purchasing department. 4. Interpreting why the company didn't adhere to its production schedule. 5. Preparing a cost comparison of two computerized manufacturing control systems.
DataSpan, Incorporated, implemented Lean Production and would like to redesign its performance measures accordingly. It has provided the following data sets: Month 1 2 3 4 Percentage of on-time deliveries 88% 83% 80% 77% Total sales (units) Move time per unit Process time per unit 2,830 2,709 2,570 2,473 Wait time per order before start of production Queue time per unit Inspection time per unit Required: 1-a. Compute the throughput time for each month. 1-b. Compute the delivery cycle time for each month. Average per Month (in days) 1 2 3 4 0.9 0.6 0.7 0.7 3.8 3.6 3.4 3.2 18.0 19.7 22.0 23.8 4.5 5.1 5.8 6.6 0.8 1.0 1.0 0.8 1-c. Compute the manufacturing cycle efficiency (MCE) for each month. 2. Evaluate the company's performance over the last four months. 3-a. Refer to the data for month 4. Assume in month 5 the company uses Lean Production to completely eliminate the queue time, and all else remains the same as month 4. Compute the new throughput time and MCE. 3-b. Refer to the data…
Hernandez Corp. wants to compute its throughput for August. The following production data are available: Good units produced and sold 2,923,200 Total units produced 4,844,000 Total processing (in hours) 201,600 Value-added time (in hours) 50,300 a. Determine the manufacturing cycle efficiency. ______% b. Determine the process productivity. ______ units per hour c. Determine the process quality yield. ______% d. Determine the throughput using only good units and total time. ______ units per hour
I attached a picture of the accounting excel problem instructions (on the word document) and a picture of the excel spreadsheet that need the formulas answered. thank you for your help.
Record the overhead costs, including the unfavorable volume and unfavorable controllable variances. same way as the chart above Record the direct labor costs, including the favorable efficiency variance and unfavorable rate variance. same way as the chart above
This is the length of time it takes to initiate and complete a finished product. O a. Fiscal year O b. Accounting year c. Production cycle Od. Short-term QUESTION 21 Costs that remain constant even with changes in production level. O a. Variable costs O b. Start-up costs O c. Semi-variable costs O d. Fixed costs QUESTION 22 The challenge of budgeting is to determine what will change and what will stay the same. O True False QUESTION 23 The numbers on tax returns (cash basis) are the same as the number we use to manage a department (accrual basis). O True O False QUESTION 24 A pattern of change over several time periods which can help us make estimates for the future is a. a gap. Ob. a fixed cost. Oc. a transformation. d. a trend.
11. Diorio Corporation keeps careful track of the time required to fill orders. The times recorded for a particular order appear below. What was the manufacturing cycle efficiency (MCE) closest to? Hours Move time 2.7 Wait time 21.1 Queue time 5.3 Process time 1.4 Inspection time 0.1 A. 0.05 В. 0.45 С. 0.18 D. 0.15
I. Krueger Corporation in Washington, D.C., U.S., recently implemented a standard cost system. The company's cost accountant has gathered the following information needed to perform a variance analysis at the end of the month: Standard Cost Information Direct materials.... Quantity allowed per unit . Direct labor rate..... Hours allowed per unit .. Fixed overhead budgeted . Normal level of production .. Variable overhead application rate . Fixed overhead application rate ($12,000 _ 1,200 units)... 10.00 per unit Total overhead application rate.. $5 per pound .100 pounds per unit $20.00 per hour 2 hours per unit $12,000 per month . 1,200 units $ 2.00 per unit $12.00 per unit Actual Cost Information Cost of materials purchased and used ... Pounds of materials purchased and used . Cost of direct labor .... $468,000 .104,000 pounds $46,480 2,240 hours Hours of direct labor.. arre$2,352 .$12,850 Cost of variable overhead . Cost of fixed overhead . Volume of production ..1,000 units…
Please solve a and b

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