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Product Costing Review
Mad Dog Enterprises manufactures computer game control devices like joysticks and steering wheels. Following is the list of the costs incurred by Mad Dog in 2009:
Wages paid to assembly workers . . . . $100,000Cost of plastic used in making devices . . . 25,000Insurance on factory building . . . 12,000Salary of factory supervisor . . . . 57,000Interest on money borrowed to finance operations . . . 34,000Wages paid to factory maintenance workers . . 61,000Cost of computer/controller boards installed in devices . . . . . 38,000Advertising costs . . . . . . . . . 127,000Cost of electricity used in factory . . . . 46,000
Compute the total cost for each of the following categories:
1. Direct materials
2. Direct labor
3. Manufacturing overhead
4. Period costs
uppose the company decides that only 1,400 units can be sold at a price of $5,000 and, therefore, the target cost cannot be reached. The company is considering. dropping the steam feature, which adds $600 of variable cost per unit. With this featu..
Recognize which costing system - job order or process cost - the following companies would use:
To implement target costing for a new product, companies often set up a cross-functional team with members from engineering, marketing, and costing accounting. Why is a cross-functional team desirable when implementing the target costing approach..
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I am having to explain and provide detailed example of where activity base costing would be employed. I'm capable to describe ABC in length but can't come up with detailed example.
Applying Activity Based Costing
Describe the reasons a consulting firm might use a normal costing system rather than an actual costing system.
Which of the following characteristics applies to process costing but not to job costing?
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Do you think that companies are worried about disclosing too much information if it comes to segment reporting? What's wrong with the reporting too much information? What do you think their main concerns include?
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