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Utica Manufacturing (UM) was recently acquired by MegaMachines, Inc. (MM), and organized as a separate division within the company. Most manufacturing plants at MM use an ABC system, but UM has always used a traditional product costing system. Bob Miller, the plant controller at UM has decided to experiment with ABC and has asked you to help develop a simple ABC system that would help him decide if it was useful. The controller's staff has identified costs for the first month in the four overhead cost pools along with appropriate cost drivers for each pool:
The company manufactures two basic products with model numbers 308 and 510. The following are data for production for the first month as part of MM:
Required :a. The current cost accounting system charges overhead to products based on machine hours. What unit product costs will be reported for the two products if the current cost system continues to be used? b. A consulting firm has recommended using an activity based costing system, with the activities based on the cost pools identified by the cost accountant. What are the cost driver rates for the four cost pools identified by the cost accountant? c. What unit product costs will be reported for the two products if the ABC system suggested by the cost accountant's classification of cost pools is used? d. If management should decide to implement an activity based costing system, what benefits should itexpect?
why does management accounting provide information to the internal users only?
Stanley Works is one of the companies you looked at in the job-order costing vs. process costing. Which type of costing do you think that company uses, process costing or job-order costing?
Find out the breakeven point in units and dollars. Also, find out the number of units and dollars which need to be sold to make a target profit of $5,000 month. Recognize what types of trends you must be aware of in the industry and who the primary..
A company has fixed costs of $5000. Sales for 600 units have been made. The budgeted unit details are-What is the cost of the materials used in process 2 during the month?
Compute the cost of goods manufactured and cost of goods sold for Strike Marine Company for the most recent year using the amounts described below. Assume that raw materials inventory contains only direct materials.
Sunshine Oil Company buys crude vegetable oil. Processing this oil results in four products at the split off points: A, B, C, and D. Product C is fully processed at the split off point.
Preparation of a Schedule of Cost of Goods Manufactured and Cost of Goods Sold for last years accounts.Explain why some items have been excluded from the Schedules.
question 1probability and statistical quality controlshow all calculationsreasoninga an unbiased coin is tossed twice.
The stock's market value is $25 on March 1st (just prior to the dividend) and $35 on March 31st. Par Value is .01 and there are 1,000 shares outstanding. Record the dividend declaration in a journal entry.
Alaina's customer service department follows up on customer complaints by telephone inquiry. Costs allocated to the wholesale operation under activity-based costing system should amount to what?
bkfin provides banks access to sophisticated financial information and analysis systems over the web. the company
Under what method does the balance in allowance for doubtful accounts have no bearing on the journal adjusting journal entry?
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