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Corresponds to CLO 4(b) Ferguson Molding Company produces custom bottle caps and jar covers for large cosmetic companies. Each customer owns the custom-made molds that are used for the caps and jar covers, so caps are produced only to customer order. Each order requires the setting of molds in molding machines. Two full time mechanics, whose combined total annual salary and benefits are $160,000 per year, are employed setting up and breaking down the molding machines. An order consists of anywhere from 50,000 to 500,000 units. 80 orders were received during the year 2008 for individual custom production runs. The total number of units produced was 8 million. If the company allocates the cost of the setup mechanics based on the number of units produced, the setup cost per unit in an order of 300,000 Nurturing Face Cream jar covers for Aristedes Cosmetics Company would be:
a $0.053 per unit
b $0.006 per unit
c $0.02 per unit
d $0, since this is an indirect cost and cannot be traced to the product in question
Jackson Construction Company uses a job order costing system. In May 2008, Jackson made a $1,650,000 bid to build a pedestrian overpass over the beach highway in Gulfport, Mississippi.
Hannon Company has 1,600 pounds of raw materials in its December 31, 2011, ending inventory. Needed production for January and February of 2012 are 4,000 and 5,500 units, respectively.
What are the advantages and disadvantages of standard costing in management accounting?
Why is variable costing not allowed for financial reporting purposes?
Needham Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Needham for 2008 are as follows:
Select a city or state in the United States (or Canadian city or province), and employ the Internet to explore the annual budget of governmental unit you selected.
Disk City, Inc. is a retailer for digital video disks. The projected net income for the current year is $2,740,000 based on a sales volume of 270,000 video disks.
Rebecca meets with the managers of each location each month to review operations results. this meeting, the manager must present a projection of operations for the coming month. Explain how Rebecca utilizes strategic planning.
Do the pension worksheet and create the journal entries needed to reflect the above activity.
Record the preceding events in a horizontal statements model. In the cash flows column, designate the cash flow as operating activities (OA), investing activities (IA), or financing actives (FA)
Prepare Photo Artistry Company's master budget for 2014 by completing the schedules Prepare a memo for Photo Artistry Company identifying issues that management should consider in order to improve the profitability of the company; provide some r..
Phonetronix is the small manufacturer of telephone and communications devices. Recently, company management decided to investigate the profitability of cellular phone production. They've three different proposals to evaluate.
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