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Question
Last year, Gransky Corporation's variable costing net operating income was $52,100, and its ending inventory increased by 400 units. Fixed manufacturing overhead cost was $7 per unit. What was the absorption costing net operating income last year?
Lifsey Wedding Fantasy Company makes very elaborate wedding cakes to order. The owner of the company has provided the following data concerning the activity rates in its activity-based costing system:
Activity Cost Pools
Activity Rate
Size-related
$0.94 per guest
Complexity-related
$31.62 per tier
Order-related
$55.70 per order
Data concerning two recent orders are listed here:
Pyburn Wedding
Smith Wedding
Number of reception guests
72
189
Number of tiers on the cake
4
5
Cost of purchased decorations for cake
$29.92
$68.75
Assuming that the company charges $556.96 for the Smith wedding cake, what would be the overall margin on the order?
Phenix Corporation reports following information regarding its sales and cost of sales. Draw the estimated line of cost behavior by using the scatter diagram, and evaluate fixed costs and variable costs per unit sold.
Do you agree with the statement? Discuss the changing role of management accountants with reference to how it impacts on the current business environment.
How does FASB and IFRS standards differ from on another? If the US adopted the IFRS standards what are the advantages and disadvantages?
Bottled Water Company Comprehensive Master Budget - Prepare an executive summary to Ginnie Adams, the owner of the Bottled Water Company, with your results from the comprehensive budget for the new product and how launching the new product would af..
A firm currently has a 36 day cash cycle. Assume that the firm changes its operations such that it decreases its receivables period by 4 days, increases its inventory period by 1 day and decreases its payable period by 2 days.
What is the unit product cost for the month under absorption costing and prepare a contribution format income statement for the month using variable costing.
Strauss Table Company manufactures tables for schools. The 20x4 operating budget is based upon sales of 20,000 units at $ 100 per table.
Tunney Industries can issue perpetual preferred stock at a price of $50 a share. The issue is expected to pay a constant annual dividend of $3.80 a share.
What is the unit product cost for the month under variable costing and what is the unit product cost for the month under absorption costing?
Martin Company is a two-division firm and has following information available for this year:
Assume that a commercial airplane manufacturing company's annual fixed costs for the widebody passenger jet are $1,425 million, and its variable cost per airplane is $90 million.
Allocate the service department costs based on air miles and evaluate World Airlines use of air miles as a basis for allocation. Do you think the cause-and-effect relationship is strong?
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