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Questions - Answer the following questions using the information below:
Q1. Tiger Pride produces two product lines: T-shirts and Sweatshirts. Product profitability is analysed as follows:
T-SHIRTS
SWEATSHIRTS
Production and sales volume
60,000 units
35,000 units
Selling price
$16.00
$29.00
Direct material
$2.00
$5.00
Direct labour
$4.50
$7.20
Manufacturing overhead
$3.00
GROSS PROFIT
$7.50
$13.80
Selling and administrative
$4.00
$7.00
OPERATING PROFIT
$3.50
$6.80
Tiger Pride's managers have decided to revise their current assignment of overhead costs to reflect the following ABC cost information:
Activity
Activity Cost
Activity-cost driver
Supervision
$100,920
Direct labour hours (DLH)
Inspection
$124,000
Inspections
Activities demanded:
0.75 DLH/unit
1.2 DLH/unit
45,000 DLHs
42,000 DLHs
60,000 inspections
17,500 inspections
Under the revised ABC system, overhead costs per unit for the Sweatshirts will be:
$2.19 per unit
$1.60 per unit
$1.39 per unit
$2.47 per unit
Q2. Gregory Enterprises has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:
Cost Pool
Overhead Costs
Cost driver
Activity level
Supervision of direct labour
$320,000
Direct labour hours
800,000
Machine maintenance
$120,000
Machine-hours
960,000
Facility rent
$200,000
Square feet of area
100,000
Total overhead costs
$640,000
The accounting records show the Mossman Job consumed the following resources:
Actual level
Direct labour-hours
200
1,600
50
Using direct labour-hours as the only overhead cost driver, what is the amount of overhead costs allocated to the Mossman Job?
$160
$125
$240
$120
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR
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Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.
Simple Interest, Compound interest, discount rate, force of interest, AV, PV
CAPM and Venture Capital
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