Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Calculating Costs
Serenity Now Industries manufactures custom fiberglass hulls for luxury yachts and pleasure boats. The current cost accounting system uses machine hours to allocate manufacturing overhead to each job. Serenity estimates that in the coming year it will incur $600,000 in manufacturing overhead costs and use 8,000 machine hours.
Depending on the specifications requested by the customer, the hull may use hazardous chemicals that incur greater disposal costs. Serenity's traditional accounting system includes the cost of hazardous waste disposal in with total manufacturing overhead. Serenity is planning to implement an activity based costing system to more accurately assign hazardous waste disposal costs to each job.
Expected usage and costs for manufacturing overhead are as follows:
During the year, Yacht #633 was started and completed:
DM cost per lb. $55
Lbs. of DM used on job 170
DL cost per hr. $20.00
DLH used 50
Requirements:
Question 1: Calculate the cost of Yacht #633 using the Serenity's current method of allocating manufacturing overhead.
Question 2: Calculate the cost of Yacht #633 using the proposed activity based costing system. How is this information useful to an environmental management accounting (EMA) system?
Which costs shall be considered conversion costs but not prime cost? Acquisition price the main material of the product/Depreciation of the administrative.
Prepare journal entries to record the budget and Prepare journal entries to record the actual revenues and expenditures. Assume all transactions resulted in increases or decreases in cash.
finlon upholstery inc. uses a job-order costing system to accumulate manufacturing costs. the companys work-in-process
Find and Calculate monthly operating income (or loss) if a Br.2.50 per unit reduction in selling price results in a volume increase to 8,700 units per month.
If the spot rate expected in 90 days is $1.4050, what is the expected cost of payment?
What cost of quality can the company expect as a percentage of its cost of goods sold in 2013? Explain. Comment on the trends in cost of quality (COQ) over the three-year period from 2010 to 2012.
Indicating how the CAP, the APB, and the FASB operated or operate. Cite specific developments that tend to support your answer.
Explain Why Management prepares above mentioned costs and how which cost terms always favor to management decision to decrease product cost?
Prepare a schedule to compare investment cost with the book value of equity acquired - Prepare elimination entries for the preparation of a consolidated statements workpaper on December 31, 2012.
How should Symington have recorded this transaction and discuss the ethical aspects of Symington's action.
Using the article "Top 7 Trends in Management Accounting," indicate which trend you believe will be most important to practitioners over the next decade, while our fledgling economic recovery is still tenuous
question general company informationmargaret brown and joel lee each own 50 percent of designs inc. with no other class
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd