KGS Mining's equipment usage policy requires shift-based monitoring. Morning shift supervisor reports: Operational hours: 6.5 Questions Related to Accounting: What distinguishes integrated control frameworks from isolated checks? a) Systematic relationships create comprehensive oversight b) Individual controls work better c) Integration adds complexity d) Separation improves control Usha Company had the following accounts and balances at the end of the year. Cash $76,000 Accounts Payable $21,000 Common Stock $21,000 Dividends $12,000 Inventory $42,000 Long-term Notes Payable $33,000 Revenues Salaries Payable $135,000 $33,000 What are total assets at the end of the year? A) $136,000 B) $162,000 C) $175,000 D) $190,000 1. II. Maintenance time: 1.2 III. Breakdown time: 0.8 Against 8-hour standard shift, management seeks to identify productive time ratio.

KGS Mining's equipment usage policy requires shift-based monitoring. Morning shift supervisor reports: Operational hours: 6.5 Questions Related to Accounting: What distinguishes integrated control frameworks from isolated checks? a) Systematic relationships create comprehensive oversight b) Individual controls work better c) Integration adds complexity d) Separation improves control Usha Company had the following accounts and balances at the end of the year. Cash $76,000 Accounts Payable $21,000 Common Stock $21,000 Dividends $12,000 Inventory $42,000 Long-term Notes Payable $33,000 Revenues Salaries Payable $135,000 $33,000 What are total assets at the end of the year? A) $136,000 B) $162,000 C) $175,000 D) $190,000 1. II. Maintenance time: 1.2 III. Breakdown time: 0.8 Against 8-hour standard shift, management seeks to identify productive time ratio.

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 7CE: Golding Bank provided the following data about its resources and activities for its checking account...

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KGS Mining's equipment usage policy requires shift-based monitoring. Morning shift supervisor reports: 1. Operational hours: 6.5 II. Maintenance time: 1.2 III. Breakdown time: 0.8 Questions Related to Accounting: What distinguishes integrated control frameworks from isolated checks? a) Systematic relationships create comprehensive oversight b) Individual controls work better c) Integration adds complexity d) Separation improves control Usha Company had the following accounts and balances at the end of the year. Cash $76,000 Accounts Payable $21,000 Common Stock $21,000 Dividends $12,000 Inventory $42,000 Long-term Notes Payable $33,000 Revenues Salaries Payable $135,000 $33,000 What are total assets at the end of the year? A) $136,000 B) $162,000 C) $175,000 D) $190,000 Against 8-hour standard shift, management seeks to identify productive time ratio.
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Golding Bank provided the following data about its resources and activities for its checking account process: Required: 1. Calculate the capacity cost rate for the checking account process. 2. Calculate the activity rates for the four activities. If the total number of statements issued was 20,000, calculate the cost of the issuing statements activity. 3. What if process improvements decreased the number of customer inquiries, leading to a 10 percent reduction in check processing hours and a 10,000 reduction in total resource costs? Update all the activity rates for these changes in operating conditions.
Assigning Cost of Resources to Activities, Unbundling the General Ledger Golding Bank provided the following data about its resources and activities for its checking account process: Resources Activities Clerical Hours Supervision $70,000 Processing accounts 10,000 Phone and supplies 90,000 Issuing statements 5,000 Salaries 275,000 Processing transactions 7,000 Computer 25,000 Answering customer inquiries 3,000 Total $460,000 Total 25,000 Computers are used only by the issuing (30 percent) and processing transaction (70 percent) activities. Phone and supplies are 60 percent customer inquiries with the other 40 percent divided equally among the remaining activities, including supervising the checking operation. The supervisor spends 100 percent of his time on supervision. In addition to the 25,000 clerical hours, there are 2,000 hours of supervision used (the hours used by the supervising clerks activity, which is not…
Mr. Bailey has prepared the following divisional income statement for you to review, assuming no transfer of excess capacity hours occurs. He has also included the total amounts for BOR CPAs, Inc. in the rightmost column. Complete the following Income Statements with your data from the Payroll panel. Enter all amounts as positive numbers. BOR CPAs, Inc. Income Statements For the Year Ended December 31, 20Y1 1 Audit Division Tax Division Total Company 2 Fees earned: 3 Audit fees (12 engagements) $900,000.00 $900,000.00 4 Tax fees (45 engagements) $708,750.00 708,750.00 5 Transfer-pricing fees 0.00 6 Expenses: 7 Variable: 8 Audit hours provided by Audit Division 216,000.00 216,000.00 9 Tax hours provided by Tax Division 283,500.00 283,500.00 10 Excess capacity hours paid to salaried staff 48,000.00 48,000.00…
The following balances are known for A Company at the begining of the year: Direct materials inventory $ 24,000 Work-in-process inventory 9,000 Finished goods inventory 22,000 Manufacturing overhead control 33,000 Accounts payable 12,000 In the beginning of June, some of the current data were lost and you have been asked to help the finance department to reconstruct the data. After Reviewing old documents and interviewing employees you have generated the following additional information: The production superintendent’’s job cost sheets indicated that materials of $5,200 were included in the June 30 Work-in-Process Inventory as well as 300 direct labor-hours had been paid at $12.00 per hour for the jobs in process on June 30. The account of Accounts Payable is the only account for direct material purchases. The Clerk remembers clearly that the balance in the Accounts Payable on June 30 was…
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Management of Mittel Company would like to reduce the amount of time between whena customer places an order and when order is shipped. For the first quarter of operations during the current year the following data were reported: Inspection time Wait time (from order to start of production) Process time Move time Queue time 0.6 days 16.6 days 2.6 days 0.5 days 3.7 days Required: 1. Compute the throughput time. (Round your answer to 1 decimal place.) 2. Compute the manufacturing cycle efficiency (MCE) for the quarter. (Round your percentage answer to nearest whole percent.) 3. What percentage of the throughput time was spent in non-value-added activities? (Round your percentage answer to nearest whole percent.) 4. Compute the delivery cycle time. (Round your intermediate calculations and final answer to 1 decimal place.) 5. If by using Lean Production all queue time during production is eliminated, what will be the new MCE? (Do not round intermediate calculations. Round your percentage…
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