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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. How many units should the company produce to maximize its profit? What is the price that company charges? What are the profit, total revenues, and total cost of the company?
Recognize the decision variables, exogenous variables, performance measure and intermediate variables. Illustrate the relationships between variables identified in part 1. Compute the break-even point
After reviewing its cost structure (variable costs of £7.50 per unit and monthly fixed costs of £60,000) and its potential market, the Forecast Company established what it considered to be a reasonable selling price.
When determining end of period production cost variances, which of the following product costs components will require flexing?
What relevant costs might you consider in deciding whether to accept the order at reduced selling price? What costs would you not consider when making your decision? Why are these costs not relevant?
Camping for Fun, Inc., produces a variety of camping products on a year-round basis. The best-selling item is a compact portable camping stove made from sheets of rust-free aluminum.
Determine the predetermined overhead rate. Determine the amount of overhead applied during the year. Was overhead overapplied or underapplied? How much?
Describe the similarities and differences between job order cost and process cost systems.
Hannon Company has 1,600 pounds of raw materials in its December 31, 2011, ending inventory. Needed production for January and February of 2012 are 4,000 and 5,500 units, respectively.
Make a flexible budget for following levels of production: 18,000 units, 20,000 units, and 22,000 units. Find out the flexible budget formula for the year ended December 31?
Auditors should decide, based upon cost considerations, whether to test the design effectiveness or operating effectiveness of controls. Inquiry alone provides sufficient evidence to support operating effectiveness of a control.
Recognize which costing system - job order or process cost - the following companies would use:
For what is cost-volume-profit (CVP) analysis used? What are some of the key underlying assumptions that make CVP analysis useful for decision makers? Why might decision makers use CVP analysis?
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