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Production Cost Report, Missing Information
Marion Chemicals produces a chemical used as a base in paints. In the manufacturing process, all materials are added at the start of the process, whereas labor and overhead are added evenly throughout production.
Fill in the missing information in Marion's Production Cost Report for the month of December.
Explain these objections to the accountant's convention cost-volume-profit model
Determine the total cost allocation and departmental overhead rate for the producing departments using the direct method. Show your work.
What relevant costs might you consider in deciding whether to accept the order at reduced selling price? What costs would you not consider when making your decision? Why are these costs not relevant?
Your CFO, in her initial work, needs to decide whether to set up a job order costing system or a process type costing system. She has asked you to make a recommendation based on the following information.
Company uses a process cost system. The company started march with 2,300 units in work in process-department A. During the month 4,000 units were started. At the end of the month there were 3,200 units in ending work in process-dept.
Determine the best sales mix. Rank the services offered in order of their profitability and which ranking would you recommend? What additional amount of total contribution margin would be generated if your recommendation were to be accepted?
How a Pareto Superior allocation can be achieved that will help some people without hurting others. Make sure you define efficiency and Pareto Superiority.
Analyze the potential opening of the patio from a qualitative standpoint. Include a discussion of the pros and cons of the patio and discuss the implications of each.
Write down the main components of cost-volume-profit (CVP) analysis. How does a CVP income statement aid management make decisions?
A firm has annual operating outlays of $1,800,000 and a cash conversion cycle of 60 days. If the firm currently pays 12 percent for negotiated financing and reduces its cash conversion cycle to 50 days, what is the annual savings?
What are the investment's payback period, IRR, and NPV, assuming the firm's WACC is 8% and if the firm requires a payback period of less than 5 years, should this project be accepted?
Wysocki Company pays its sales force a fixed salary plus a 5% commission on all sales. Explain why sales force costs would be considered a mixed cost.
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