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a. The Dallas plant of Oscar Chemical processes talphazine into zetazine and gammazine. A batch consists of 20,000 gallons of talphazine, costing $11,000. Processing costs are $52,000 and results in 14,000 gallons of zetazine and 6,000 gallons bammazine. Raw material and processing costs are allocated to the tow products based on the number of gallons. Zetazine can be sold for $15/gallon. Bammazine can be sold for $9/gallon or it can be further processed into Meltazine. Meltazine can be sold for $12/gallon. Additional processing costs for a batch of meltazine for $15,500. Should Oscar sell bamazine or meltazine? Please explain.
b. Infant Company produces two products, A and B, with unit data as follows:
A BSelling Price $140 $200Prime Costs 60 85Overhead (70% fixed) 40 50
Machine Hours 2 3
Infant currently has insufficient machine hours to meet demand for its products. Which product, A or B, should receive priority in production and why?
Why might managers find out a flexible budget analysis more informative than the strategic-budget analysis? Describe your rationale. How might a manager gain insight in the causes of the flexible-budget variance for direct materials?
Wriglee, Inc. went to court this year and successfully defended its patent from infringement by the competitor. The cost of this defense must be charged to:
Measurement in the context of accounting The diverse measurement methods developed for different kinds of assets propose that standard setters are confused regarding the nature of the attribute which is to be measured
City of Joseph Commercial Bank hired consultants to compute the costs of three products: checking accounts, personal loans, and the Gold visa card. The consultant identified the following activities, costs and activity drivers (annual data):
The three product cost elements?direct materials, direct labor, and overhead? Flow through job order costing system in structured, orderly fashion. Specific accounts and subsidiary ledgers are employed to verify and record cost information.
Applying Activity Based Costing
Develop a value chain for the airline industry
Find out the current operatng profit for the company as whole? Supposing that all fixed cost are unavoidable, if company eliminated the unprofitable segments, what would be the new operating profit for the company as a whole be?
The corporation sold 1,200 shares of treasury stock for cash at 72 per share. Journalize the treasury stock transactions.
Recognize a product or service in your organization which could use ABC. You can as well use this technique for selling and administrative costs.
Recognize which costing system - job order or process cost - the following companies would use:
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.
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