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Frankel Trailers make horse-boxes to precise customer specifications. The following are predicted to occur during the forthcoming year which is about to start: Direct materials costs £50,000 Direct labour cost £160,000 Direct labour time 16,000 hours Indirect labour cost £25,000 Machine depreciation £8,000 Rent and rates £10,000 Heat light and power £5,000 Indirect materials £2,000 Other indirect costs £1,000 Machine time 3,000 hours All direct labour is paid the same hourly rate. A customer has asked for a quotation for a horse-box. It is estimated that this will require materials and components that will cost £2,150. It will take 250 direct labour hours to do the job, of which 50 will involve the use of machinery. The company adds 30% profit margin to full cost when quoting for work. Required: a) Deduce a logical cost for the job, the price to be quoted, and explain the basis of dealing with overheads that you propose. (15 marks) b) Explain the difference between a joint product and a bi-product, and how their accounting treatments differ. In the context of process costing for joint products, explain how relative sales values at the point of separation are determined when there are further processing costs for each product after the separation point.
for supply item mt bluesky company has been ordering 150 units based on the recommendation of the salesperson who calls
jefferson company has two divisions jefferson bottles and jefferson juice. jefferson bottles makes glass containers
Given the following 30 ordered percentage returns of an asset, calculate the VAR and expected shortfall at a 90% confidence level: -16,-14,-10,-7,-7,-5,-4,-4,-4,-3,-1,-1,0,0,0,1,2,2,4,6,7,8,9,11,12,12 ,14,18,21,23.
suppose you are a management consultant and a client asks you the advantages and disadvantages of using standard costs
Using an Internet search engine, search for the terms guilty as charged + California Micro Devices in order to find an article about the company, California Micro Devices. Identify the related corporate governance issues.
Which of the following accounting methods is the method used to compute amortization?
Selected data from a February payroll register for Gerfield Company are presented below. Some amounts are intentionally omitted. FICA taxes are 8%. State income taxes are 3% of gross earnings.
Why are companies required to prepare a statement of cash flows? Why is the statement of cash flows divided into three sections? What does each section tell you about the operations of a company?
Pension data for Goldman Company included the following for the current calendar year: Determine pension expense for the year.
the requirements of the sarbanes-oxley act which requires public companies to engage independent auditors. does the
Assume that a plant has two categories of overhead: material handling and quality inspection. The costs expected for these categories for the coming year are as follows.
operates a store featuring school merchandise. it uses an eoq decision model to make inventory decisions. it is
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