Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
PART 1: George Ltd manufactures two types of coils used in electric motors. The two types are: C20 and D40. They both require plastic and metal. Information for the two products for the month of April is given in the following tables: Input prices Direct materials Plastic $4 per kilogram Metal $3 per kilogram Direct manufacturing labour $10 per direct manufacturing labour hour Input quantities per unit of output C20 D40 Direct materials Plastic 4 kilograms 6 kilograms Metal 0.5 kilogram 1 kilogram Direct manufacturing labour-hours (DMLH) 3 hours 5 hours Machine-hours (MH) 10 MH 18MH Inventory information, direct materials Plastic Metal Beginning inventory 250 kilograms 60 kilograms Target ending inventory 380 kilograms 55 kilograms Cost of beginning inventory $950 $180 The company accounts for direct materials using a FIFO cost flow assumption. Sales and inventory information, finished goods C20 D40 Expected sales in units 500 300 Selling price $160 $250 Target ending inventory in units 35 15 Beginning inventory in units 15 30 Beginning inventory in dollars $1500 $5580 The company uses: • a FIFO cost flow assumption for finished goods inventory. • an activity-based costing system and classifies overhead into three activity pools: Set-up, Processing and Inspection. Activity rates for these activities are $100 per set-up hour. $5 per machine-hour and $16 per inspection-hour, respectively. Other information is as follows: Cost driver information C20 D40 Number of units per batch 20 15 Set-up time per batch 1.5 hours 1.75 hours Inspection time per batch 0.5 hour 0.6 hour Non-manufacturing fixed costs for March equal $36,000 of which half are salaries. Salaries are expected to increase by 5% in April. The only variable non-manufacturing cost is sales commission equal to 1% of sales revenue. Required: Prepare the following for April: a. Sales budget b. Production budget in units c. Direct material usage budget and direct material purchases budget d. Manufacturing overhead cost budgets for each of the three activities e. Budgeted income statement (ignore income taxes) PART 2: Please go to your Moodle site and access the 6-papers on budgeting. Write a critical review of the above papers.
JungleGym, a best-selling toy has a selling price of $15. If the contribution margin ratio is 40% and if the fixed costs are $60,000, how many JungleGyms must the company sell to realize a profit of $450,000?
Can you give an example of cost-volume-profit analysis using this techniques in your organization or in your past experience?
Phoenix Manufacturers makes blank computer disks. It takes one-eighth of a pound of direct materials and one minute of direct labor at standard per disk. Direct materials cost $2.60 per pound at standard, and the standard direct labor rate is $6.0..
Bulkboy Fitness Equipment, Inc. was recently created to produce and sell its "Biception" arm machine. Bulkboy decided to use a standard cost system to record costs related to the production of this product.
Describe how they are similar and why there are differences. Also, include specific examples of how and when to apply the principles of both types of accounting.
Mattresses-A-Million produces Pillow-Top mattresses. They have been using a volume-based costing system to allocate overhead based on direct labor-hours. The Pillow-Top requires two hours of direct labor.
Describe customer perceived value, total customer benefit, and total customer cost. How do the total customer benefit and the total customer cost affect the consumer's perception? Explain.
Calculate the GDP in Income Approach and Expenditure Approach
dentify the cost implications of the spill and how best they might be recognized by BP (and others). Should the accountant take a positive approach or a normative approach when trying to quantify the costs?
Suppose you're a field marketing professional, responsible for marketing your company's products in South Florida region of medium-size corporation. One day you receive the CD from your corporate marketing group (based in Detroit, Michigan) which ..
Rebecca owns several successful coffeehouses. Each one has its own manger and is operated independently of the others. In what ways do the coffeehouses utilize managerial accounting in the operational planning process?
Which costing system would be more efficient when direct labor costs and direct materials are low, and overhead is high and why? Explain how the supply chain and the macroeconomic environment of the health care business fit in with your calculations?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd