Principles of Cost Accounting
17th Edition
ISBN: 9781305087408
Author: Edward J. Vanderbeck, Maria R. Mitchell
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 4, Problem 4P
Using the data in P4-2 and Microsoft Excel:
- 1. Separate the variable and fixed elements.
- 2. Determine the cost to be charged to the product for the year.
- 3. Determine the cost to be charged to factory
overhead for the year. - 4. Determine the plotted data points using Chart Wizard.
- 5. Determine R2.
- 6. How do these solutions compare to the solutions in P4-2 and P4-3?
- 7. What does R2 tell you about this cost model?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Convert the accompanying database to an Excel table to find:
a.The total cost of all orders.
b.Thetotal quantity of airframe fasteners purchased.
c. The total cost of all orders placed with Manley Valve.
Question content area bottom
Part 1
a. The total cost of all orders is
$?????? enter your response here.
Cs Cases
1. Create a new Excel sheet in which you will find the delivery cost for each delivery.
nal...
a. Create a new sheet that has information for each delivery. Name this sheet "lookup."
Rat...
b. In this lookup sheet, look up the hourly rate for the driver for each delivery. Do not enter this information manually! Use the VLOOKUP function.
c. For each delivery, calculate the delivery cost as hourly rate for the driver multiplied by time (hours).
Fill in the table below for the first ten records.
Date
Delivery ID
Driver
Time (Hours)
Hourly Rate
Cost
20.00 X
1
George
1
1/1
25.00 X
2
Deanna
1.5
1/2
2
3
Ben
1/3
4
Caroline
2
1/3
<
5
Unknown
1
1/4
6
Elizabeth
2
1/5
7
Unknown
2.5
1/5
8
Unknown
1
1/6
9
Adam
2
1/8
10
Hannah
1.5
1/9
2. Create a new Excel sheet that aggregates the data contained in the lookup sheet to show each driver's activity analysis.
a. Create a pivot table in a new sheet; name this new sheet "pivot table."
Can any accountant show me the basic and simple cost analysis of a product (for ex: a watch) in excel or google sheet? please include any cost that we need to consider
Chapter 4 Solutions
Principles of Cost Accounting
Ch. 4 - What are factory overhead expenses, and what...Ch. 4 - What are three categories of factory overhead...Ch. 4 - What are the distinguishing characteristics of...Ch. 4 - When a products cost is composed of fixed and...Ch. 4 - What effect does a change in volume have on total...Ch. 4 - Distinguish between a step-variable cost and a...Ch. 4 - What is the basic premise underlying the high-low...Ch. 4 - What are the advantages and disadvantages of the...Ch. 4 - Differentiate between an independent variable and...Ch. 4 - Prob. 10Q
Ch. 4 - What is a flexible budget, and how can management...Ch. 4 - How does accounting for factory overhead differ in...Ch. 4 - What is the function and use of each of the two...Ch. 4 - What are two types of departments found in a...Ch. 4 - What are the two most frequently used methods of...Ch. 4 - When using the sequential distribution method of...Ch. 4 - When using the sequential distribution method of...Ch. 4 - Is it possible to close the total factory overhead...Ch. 4 - What are the shortcomings of waiting until the...Ch. 4 - What are the two types of budget data needed to...Ch. 4 - Prob. 21QCh. 4 - What factory operating conditions and data are...Ch. 4 - Prob. 23QCh. 4 - How does activity-based costing differ from...Ch. 4 - What steps must a company take to successfully...Ch. 4 - What is the relationship between activity-based...Ch. 4 - Prob. 27QCh. 4 - Prob. 28QCh. 4 - If the factory overhead control account has a...Ch. 4 - Prob. 30QCh. 4 - Classify each of the following items of factory...Ch. 4 - Ames Automotive Company has accumulated the...Ch. 4 - Prob. 3ECh. 4 - Using the data in E4-2 and spreadsheet software,...Ch. 4 - El Paso Products Company has accumulated the...Ch. 4 - Computing unit costs at different levels of...Ch. 4 - Identifying basis for distribution of service...Ch. 4 - A manufacturing company has two service and two...Ch. 4 - A manufacturing company has two service and two...Ch. 4 - Compute the total job cost for each of the...Ch. 4 - Classify each of the following items of factory...Ch. 4 - Job 25AX required 5,000 for direct materials,...Ch. 4 - Job 19AB required 10,000 for direct materials,...Ch. 4 - Match each of the following cost pools with the...Ch. 4 - The books of Petry Products Co. revealed that the...Ch. 4 - The general ledger of Lawson Lumber Co. contains...Ch. 4 - Nelson Fabrication Inc. had a remaining credit...Ch. 4 - Housley Paints Co. had a remaining debit balance...Ch. 4 - The cost behavior patterns below are lettered A...Ch. 4 - Miller Minerals Co. manufactures a product that...Ch. 4 - Scattergraph method Using the data in P4-2 and a...Ch. 4 - Using the data in P4-2 and Microsoft Excel: 1....Ch. 4 - Listed below are the budgeted factory overhead...Ch. 4 - Menlo Materials is divided into five departments,...Ch. 4 - Distribution of service department costs to...Ch. 4 - Journalizing the distribution of service...Ch. 4 - Channel Products Inc. uses the job order cost...Ch. 4 - Determining job costcalculation of predetermined...Ch. 4 - Focus Fabrication Co. uses ABC. The factory...Ch. 4 - Mansfield Manufacturing Co. uses ABC. The factory...Ch. 4 - Hughes Products Inc. uses a job order cost system....Ch. 4 - Abbey Products Company is studying the results of...Ch. 4 - The following information, taken from the books of...Ch. 4 - Rockford Company has four departmental accounts:...Ch. 4 - Luna Manufacturing Inc. completed Job 2525 on May...Ch. 4 - Phillips Products, Inc. had a remaining credit...Ch. 4 - Nathan Industries had a remaining debit balance of...Ch. 4 - Chrome Solutions Company manufactures special...Ch. 4 - Activity-based Costing
Video Options Ltd....
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- please give me the spesific data and numbers only tiped solutionarrow_forwardMatch each of the terms/phrases numbered 1 through 5 with the best definition a through e. 1. Cost accounting system 2. Target cost 3. Job 4. Process operation 5. Job order production a. Production activities for a custom product. b. Production activities for a special order. c. A system that records manufacturing costs. d. The expected selling price of a job minus its desired profit. e. Mass production in a continuous flow of steps.arrow_forwarddarrow_forward
- 1. Create a new Excel sheet in which you will find the delivery cost for each delivery. a. Create a new sheet that has information for each delivery. Name this sheet "lookup." b. In this lookup sheet, look up the hourly rate for the driver for each delivery. Do not enter this information manually! Use the VLOOKUP function. c. For each delivery, calculate the delivery cost as hourly rate for the driver multiplied by time (hours). Fill in the table below for the first ten records. Date Delivery ID Driver Time (Hours) Hourly Rate Cost 20.00 X 1 George 1 1/1 25.00 X 2 Deanna 1.5 1/2 2 3 Ben 1/3 4 Caroline 2 1/3 5 Unknown 1 1/4 6 Elizabeth 2 1/5 1/5 7 Unknown 2.5 8 Unknown 1 1/6 9 Adam 2 1/8 10 Hannah 1.5 1/9 2. Create a new Excel sheet that aggregates the data contained in the lookup sheet to show each driver's activity analysis. a. Create a pivot table in a new sheet; name this new sheet "pivot table."arrow_forwardJPL, Inc. has provided its sales and expense data for the most recent period. The Controller has asked you prepare a spreadsheet that shows the related CVP Analysis computations. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.arrow_forwardCost drivers and functions. The representative cost drivers in the right column of this table are randomized so they do not match the list of functions in the left column. Representative Cost Driver A Number of imvoices sent B. Number of purchase orders C. Number of units manufactured D. Number of computers on the network E Number of employees hired F. Number of bills received from vendors G. Number of pallets moved Function 1. Accounts payable 2. Recruiting 3. Network Maintenance 4. Production 5. Purchasing 6. Warehousing 1. Billing 1. Match each function with its representative cost driver. 2 Give a second example of a cost driver for each function.arrow_forward
- Based on the attached image, compute the manufacturing cycle efficiency based on below data (to the nearest whole percentage)arrow_forwardConvert the accompanying database to an excel table to find: a. The total cost of all orders b. The total quantity of airframe fasteners purchased. c. The total cost of all orders placed with Manley Valve.arrow_forwardMatch each of the following cost items with the value chain business function where you would expect the cost to be incurred: Cost Item 1. Purchase of raw materials 2. Advertising 3. Salary of research scientists 4. Delivery expenses 5. Reengineering of product assembly process 6. Replacement labor expense for warranty repairs 7. Manufacturing supplies 8. Sales salaries 9. Purchase of CAD (computer-aided design) software 10. Salary of website manager Business Functionarrow_forward
- Part 1: Based on the data presented in the Unit VIII Spreadsheet Template in Excel (CM Breakeven tab):• Calculate the contribution margin (CM) for each of the three products sold at the cookie business.• Calculate the weighted average CM.• Calculate the breakeven point.Complete your calculations by filling in the highlighted cells, and embed a copy of the completed spreadsheet into this report. Discuss the results based on your calculations as far as which type of cookie you think is the most profitable, which has the highest CM, etc.arrow_forwardExamine the graphs in Exercise 3-40. Required: As explained in the chapter, cost behavior patterns can be described as fixed, variable, semi-variable, mixed, or step function (i.e., semi-fixed) in nature. Explain the exact type of cost behavior pattern represented by each of the cost curves shown in graphs A through L. Note that some of the graphs might represent a combination of multiple cost behavior patterns.arrow_forwardJay Corporation has provided data from a two-year period to aid in planning. The Controller has asked you to prepare a contribution format income statement. Use the information included in the Excel Simulation and the Excel functions described below to complete the task.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax College
Managerial Accounting: The Cornerstone of Busines...AccountingISBN:9781337115773Author:Maryanne M. Mowen, Don R. Hansen, Dan L. HeitgerPublisher:Cengage Learning
Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub
Excel Applications for Accounting PrinciplesAccountingISBN:9781111581565Author:Gaylord N. SmithPublisher:Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Managerial Accounting: The Cornerstone of Busines...
Accounting
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Cengage Learning
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Excel Applications for Accounting Principles
Accounting
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Cengage Learning
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