ACCT 6273 Formulas and work, appropriately labeled, must be shown. - Business & Finance
Need the following questions answered for a study guide to help me solidify the content that will be covered in the exam.ACCT 6273Formulas and work, appropriately labeled, must be shown.1. Lincoln Company manufactures and sells small electric heaters for homes and offices. The companys income statement for the FY2014 is given below:Total Per unitSales (30,000 units) $1,800,000 $60Less variable expenses 1,440,000 48Contribution margin 360,000 $12Less fixed expenses 264,000Net income $ 96,000a. Compute the companys break-even point in units.Answer____________________b. If Lincoln Company increases its price to $100, do you expect the breakeven point in units to be more or less than the number you calculated in question 1a above? Why?Circle (or highlight) one: More than question 1a Less than question 1aExplain why, but do not use calculations. c. Confirm your answer to question 1a above by preparing a contribution margin income statement. d. Assume that next year management wants the company to earn a minimum profit of $162,000. How many units be sold to meet this target profit figure? [3 points]Answer: ____________________The following information pertains to the next three questions 2-4.Fifer Company produces two types of entry doors: the Hollow Core and the Solid Door models. The Company has used direct labor dollars to allocate the overhead cost of $47,450,000.The companys CFO, Brian Smythe, has offered the following information regarding the two products:Hollow Core Solid DoorSales in units 400,000 50,000Sales price per unit $475.00 $650.00Direct materials per unit 55.00 130.00Direct labor cost per unit 75.00 50.00The company has hired you as an outside consultant to review the cost system and make recommendations. You decide that an Activity Based Cost system should be considered and compile the following information based on conversations with the production manager:Activity Cost Driver CostOrder Taking Number of orders $ 500,000Setups Number of setups 5,000,000Machine cost Number of machine hours 41,950,000The number of transactions for each cost driver is as follows:Cost Driver Total Hollow SolidNumber of orders 500 100 400Number of setups 2,500 2,000 500Number of machine hours 600,000 300,000 300,0002. Compute the product cost per door (i.e., per unit) using the traditional allocation system based on direct labor dollars Hollow Core Solid DoorProduct Cost per door ____________ ____________3. Compute the product cost per door (per unit) using activity based costing for each product. Hollow Core Solid DoorProduct Cost per door ____________ ____________4. How should Mr. Smythe explain the reasons for any differences observed in your analysis above? 5. Barker Company produces a single product. The standard direct costs for the product are as follows:Direct materials (4 [email protected] $5/yd.) $20Direct labor (1.5 [email protected] $10/hr.) $15During a recent period the company produced 1,200 units of product. Various costs associated with the production of these units are given below:Direct materials purchased (5,000 yds.) $24,500Direct materials used in production 4,700 yds.Direct labor cost incurred (1,900 hours) $18,297a. The materials price variance for the period is:Answer: _______________b. The materials quantity (or usage) variance for the period is:Answer: ______________c. The labor rate variance for the period is:Answer: ______________d. The labor efficiency variance for the period is:Answer: ______________6. Youngstown Company provides the following standard cost data:Direct Material (3 gallons @ $5 per gallon) $15.00Direct Labor (2 hours @ $12 per hour) $24.00During the period, Youngstown Company produced and sold 24,000 units. Following are the amounts of material and labor used to produce the 24,000 units, and their respective actual costs:Direct Material: 73,100 gallons at $5.05 per gallonDirect Labor: 48,000 hours at $12.08 per hourCircle (or highlight) the correct answer.a. The Direct Material price variance was:A) FB) UC) 0b. The Direct Material usage variance was:A) FB) UC) 0c. The Direct Labor rate variance was:A) FB) UC) 0d. The Direct Labor efficiency variance was:A) FB) UC) 07. Following is Perry Corporations original budget for 2013, and their actual results for 2013.Original Budget(100,000 units)MaterialsFabric 100,000 yds @ $5.40/yd $540,000Steel tubing 25,000 lbs @ $12.10/lb 302,500Padding 50,000 lbs @ $.50/lb 25,000Direct LaborMachining 30,000 hrs @ $19/hr 570,000Assembly 10,000 hrs @ $11.80/hr 118,000OverheadRent 100,000Property taxes 10,000Other Overhead(25\% variable) 200,000Total $1,865,500Actual Results(120,000 units)MaterialsFabric 125,000 yds @ $5.50/yd $687,500Steel tubing 32,000 lbs @ $12.20/lb 390,400Padding 65,000lbs @ .49/lb 31,850Direct LaborMachining 35,000 hrs @ $18/hr 630,000Assembly 11,000 hrs @ $11.50/hr 126,500OverheadRent 96,000Property taxes 10,000Other Overhead210,000Total $2,182,250Using the format on the following page, prepare the flexible budget needed to evaluate Perry Corporations performance for 2013, and compute the Flex-Actual Variances. Show your calculations.Put your answers to Question 7 here:Calculations Flexible Budget Actual(120,000 units) Flex - ActualVariancesMaterialsFabric$687,500Steel tubing390,400Padding31,850Direct LaborMachining630,000Assembly126,500OverheadRent96,000Property taxes10,000Other Overhead(25\% variable) 210,000Total$2,182,250
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Identify a specific consumer product that you or your family have used for quite some time. This might be a branded smartphone (if you have used several versions over the years)
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Key outcomes: The approach that you take must be clear
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Literature search
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you been involved with a company doing a redesign of business processes
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od pressure and hypertension via a community-wide intervention that targets the problem across the lifespan (i.e. includes all ages).
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be aware of which features their competitors are opting to include so the product development teams can design similar or enhanced features to attract more of the market. The more unique
low (The Top Health Industry Trends to Watch in 2015) to assist you with this discussion.
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Next year the $2.8 trillion U.S. healthcare industry will finally begin to look and feel more like the rest of the business wo
evidence-based primary care curriculum. Throughout your nurse practitioner program
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3. Furman v. Georgia is a U.S Supreme Court case that resolves around the Eighth Amendments ban on cruel and unsual punishment in death penalty cases. The Furman v. Georgia case was based on Furman being convicted of murder in Georgia. Furman was caught i
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Ethics
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The inbound logistics for William Instrument refer to purchase components from various electronic firms. During the purchase process William need to consider the quality and price of the components. In this case
4. A U.S. Supreme Court case known as Furman v. Georgia (1972) is a landmark case that involved Eighth Amendment’s ban of unusual and cruel punishment in death penalty cases (Furman v. Georgia (1972)
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The ability to view ourselves from an unbiased perspective allows us to critically assess our personal strengths and weaknesses. This is an important step in the process of finding the right resources for our personal learning style. Ego and pride can be
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While you must form your answers to the questions below from our assigned reading material
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4 In order to get the entire family to come back for another session I would suggest coming in on a day the restaurant is not open
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The word assimilate is negative to me. I believe everyone should learn about a country that they are going to live in. It doesnt mean that they have to believe that everything in America is better than where they came from. It means that they care enough
Data collection
Single Subject Chris is a social worker in a geriatric case management program located in a midsize Northeastern town. She has an MSW and is part of a team of case managers that likes to continuously improve on its practice. The team is currently using an
I would start off with Linda on repeating her options for the child and going over what she is feeling with each option. I would want to find out what she is afraid of. I would avoid asking her any “why” questions because I want her to be in the here an
Summarize the advantages and disadvantages of using an Internet site as means of collecting data for psychological research (Comp 2.1) 25.0\% Summarization of the advantages and disadvantages of using an Internet site as means of collecting data for psych
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One thing you will need to do in college is learn how to find and use references. References support your ideas. College-level work must be supported by research. You are expected to do that for this paper. You will research
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3 The first thing I would do in the family’s first session is develop a genogram of the family to get an idea of all the individuals who play a major role in Linda’s life. After establishing where each member is in relation to the family
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Losinski forwarded the article on a priority basis to Mary Scott
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