FINANCIAL & MANAGERIAL ACCT. CONNECT
FINANCIAL & MANAGERIAL ACCT. CONNECT
9th Edition
ISBN: 9781266418211
Author: Wild
Publisher: INTER MCG
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Chapter 21, Problem 8DQ
To determine

Standard Cost:

The cost which is estimated by the management, this cost includes the cost of process and resources used at the time of manufacturing. This cost is ultimately compared with the actual cost incurred.

To identify: Purpose of using standard cost.

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Danforth Industries had the following activities, traceable costs, and physical flow of driver units: • • Technical support (hours): $380,000 total cost, 10,000 hours Shipping processing (orders): $275,000 total cost, 3,600,000 orders • Account reconciliation (accounts): $145,000 total cost, 38,000 accounts Customer correspondence (letters): $50,000 total cost, 4,800 letters The above activities are used by Division A and Division B as follows: Technical support hours: 2,500 hours (Division A), 4,500 hours (Division B) Shipping processing orders: 480,000 orders (Division A), 210,000 orders (Division B) Account reconciliation accounts: 9,500 accounts (Division A), 8,200 accounts (Division B) Customer correspondence letters: 1,100 letters (Division A), 1,600 letters (Division B) How much of the technical support cost will be assigned to Division A?
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Glenwood Industries made a $310,000 investment in new machinery. Assuming the company's margin is 6.5%, what income will be earned if the investment generates $600,000 in additional sales?
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Cost Classifications - Managerial Accounting- Fixed Costs Variable Costs Direct & Indirect Costs; Author: Accounting Instruction, Help, & How To;https://www.youtube.com/watch?v=QQd1_gEF1yM;License: Standard Youtube License