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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.
Cost Category Product, G, S, & A Asset/Expense
Wages or production workers Product AssetAdvertising costsPromotion CostsProduction SuppliesDepreciation on administrative buildingDepreciation on manufacturing equipmentResearch and development costsCost to set up manufacturing equipmentUtilities used in factoryCost for sales staffDistributions to stockholdersGeneral office suppliesRaw materials used in the manufacturing processCost to rent office space
What is the amount of direct materials cost incurred by LP Production:
Newroute Manufacturing has been using activity-based costing to determine the cost of produt X-678. One of the activities, "Inspection," ocbcurs just before the product is finished.
What are the expected annual savings form a lock-box system that collects 300 checks per day averaging $800 each, and reduces mailing and processing times by 3.0 and 1.5 days respectively, if the annual interest rate is 7 %?
or what other business decisions may it be impossible to calculate the actual cost? What are some of the dangers of basing decisions on estimated rather than actual costs? How might these dangers be minimized?
Which program outcome do you think might add the most value for you? Which managerial competencies reflect current strengths for you?
Recognize a product or service in your organization which could use ABC. You can as well use this technique for selling and administrative costs.
Discuss the most important steps in the operating budget process. Why are these more important than the other steps?
Explain the logical flow represented in the master budget, beginning with the organization goals and ending with the pro forma financial statements.
Calculate Coffee Mill's Cash Conversion Cycle. If Coffee Mill were to shorten its inventory conversion period by 10 days, what effect would this have on the Cash Conversion Cycle? What effect (in dollars) would (b) have on Coffee Mill's total worki..
Explain the effect of undercosting or overcosting on profitability. Explain ratio analysis and their purpose. Do you think that all of the ratio analysis is necessary, if not, please explain.
Assume a fixed cost for an investment in a piece of equipment of $15,000, a variable cost to produce each unit of product with the equipment at $10, and a selling price for the finished product of $25.
Task is to make a 10-12 powerpoint presentation on topic of costing. Explaining what needs to be done to project profits using the traditional income statement if sales were to increase 20%
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