ACCT 3203 Cost Accounting Assignment

Assignment Help Cost Accounting

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ACCT 3203 Cost Accounting - Oklahoma State University

Question 1. Discuss the features of an ideal budgetary process.

Question 2. Compare and contrast static budgets, flexible budgets, and activity-based budgets.

Question 3. Define budgeting and control. How are budgets used in planning? How are budgets used to control? What are some of the reasons for budgeting?

Question 4. Splendor, Inc., has done a cost analysis for its production of motorcycle lights.

The following activities and cost drivers have been developed:

Activity	Cost Formula
Maintenance	$5,000 + $8 per machine hour
Machining	$25,000 + $4 per machine hour
Inspection	$90,000 + $1,000 per batch
Setups	$5,000 per batch
Purchasing	$100,000 + $100 per purchase order

Required:
Prepare an activity-based budget for the following:
• 60,000 units: 10,000 machine hours; 30 batches; 20,000 purchase orders
• 100,000 units: 18,000 machine hours; 40 batches; 30,000 purchase orders

Question 5. How are standards developed? What is the difference between ideal and currently attainable standards?

Question 6. How is standard costing related to the control function? What are the strengths and weaknesses of using past experience to set standards?

Question 7. Suggest possible causes for the following:
1. Unfavorable labor efficiency variance
2. Unfavorable variable overhead spending variance
3. Unfavorable fixed overhead volume variance

Question 8. How are accountability, information, and responsibility, related?

Question 9. How do the differences between centralization and decentralization affect decision making? Why would a Company decentralize its operations?

Question 10. Compare and discuss the advantages and disadvantages of the following performance measures: ROI, EVA, and Residual Income.

Question 11. What problems do owners face in encouraging goal congruence of managers? What is a stock option? How can stock options encourage goal congruence?

Question 12. Describe the transfer pricing problem.

Question 13. If the minimum transfer price of the selling division is less than the maximum transfer price of the buying division, the intermediate product should be transferred internally. Do you agree or disagree? Explain.

Question 14. If an outside, perfectly competitive market exists for the intermediate product, what should the transfer price be? Explain.

Question 15. Describe 3 ways to incentivize goal congruence among managers. Include in your description advantages and disadvantages of each.

Reference no: EM132411853

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