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Richie Rich, the president of Rich's Money Company, has asked for information about the cost behavior of manufacturing support costs. Specifically, he wants to know how much support cost is fixed and how much is variable. The following data are the only records available.
Month Machine Hours Support Costs
February 1,700 $20,500March 2,800 22,250Apri1 1,000 19,950May 2,500 21,500June 3,500 23,950
Determine the support cost equation using the high-low method. Use machine hours as your cost driver.
Discuss the factors that a company must consider when deciding whether to use a job order or a process cost system. What might be the consequences to a company if they make the wrong choice?
Recognize which costing system? Job order or processcost? The following companies would primarily employ: (a) Quaker Oats, (b) Ford Motor Company, (c) Kinko's Print Shop, and (d) Warner Bros. Motion Pictures
Hampstead company's order entry department has 20 order entry operators. The cost associated with these 20 operators (salaries, fringe benefits, and supervision, as well as occupancy and equipment costs) is $873,600 per year.
Use the following format to classify each cost as a product cost or a general, selling, and administrative (G,S,A) cost. Also indicate whether the cost would be recorded as an asset or an expense. The first is shown as an example.
Currently the total cost is given by TC = 100 + 10Q +Q^2 for sale shoe manufacturing company. The demand equation is given by P =-5Q +130.
Measurement in the context of accounting The diverse measurement methods developed for different kinds of assets propose that standard setters are confused regarding the nature of the attribute which is to be measured
Processors Ltd. uses three different products - X, Y and Z to produce its major product line. Each kg of the raw material costs $2.00 for X, $3.75 for Y and $5.20 for Z.
What is the appropriate cost driver for allocating overhead to pizzas in Year 1? Using normal costing, compute the cost of each of the 336,033 meat pizzas produced in year 1. Was overhead over-or under applied during the year? By how much? Why do yo..
What would be some particular examples of advantages and disadvantages of job order costing?
CompTronics, a manufacturer of computer peripherals, has excess capacity. The company's Utah plant has the following per-unit cost structure for item no. 89:
Illustrate out the term cash conversion cycle (CCC), and describe why, holding other things constant, a firm's profitability would raise if it lowered its CCC.
Recognize three key learning points with respect to application of concepts like fixed costs, variable costs, contribution margin, breakeven analysis, indifference point, and operating leverage to organization's overall financial performance.
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