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ACC 349 Effective Communication - tutorialrank.com

For more course tutorials visit<br>www.tutorialrank.com<br>What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why?<br>

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ACC 349 Effective Communication - tutorialrank.com

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  1. ACC 349 Discussion 4 For more course tutorials visit www.tutorialrank.com What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision making? Why? As a manager, which would you prefer? Why? ****************************************** ACC 349 Discussion 5 For more course tutorials visit www.tutorialrank.com For what is cost-volume-profit (CVP) analysis used? What are some main underlying assumptions that make CVP analysis useful for decision makers? Why might decision makers use CVP analysis? What is contribution margin? What is break even point? How are these used? ****************************************** ACC 349 Discussion 6 For more course tutorials visit www.tutorialrank.com

  2. What are some main differences between financial and managerial accounting? How do these differences affect the type of information that must be gathered and reported? What different types of decisions must users of financial accounting information make? What different types of decisions must users of managerial accounting information make? How does managerial accounting apply to your career? What is the code of conduct for managerial accountants? ****************************************** ACC 349 Discussion 7 For more course tutorials visit www.tutorialrank.com What are the cost classifications for assigning cost to cost objects? What are the cost classifications for manufacturing companies? What are cost classifications for preparing financial statements? What are cost classifications for predicting cost behavior? What are mixed cost? ****************************************** ACC 349 Discussion 8 For more course tutorials visit www.tutorialrank.com

  3. What is a master budget? What are some underlying budgets that form the master budget? What are the advantages of budgeting? What is the budgeting process at your organization? Is it effective? Why or why not? ****************************************** ACC 349 Discussion 9 For more course tutorials visit www.tutorialrank.com What are the characteristics of a flexible budget? How does a flexible budget work? Do you have experience with this type of budgeting? ****************************************** ACC 349 Discussion 10 For more course tutorials visit www.tutorialrank.com What are some of the potential problems with standard cost? Please explain your thoughts ****************************************** ACC 349 Entire Course (UOP Course)

  4. For more course tutorials visit www.tutorialrank.com ACC 349 Week 1 Individual Assignment BYP 1-7, E1-7 (UOP Course) ACC 349 Week 1 Discussion Question 1 (UOP Course) ACC 349 Week 1 Discussion Question 2 (UOP Course) ACC 349 Week 2 Individual Assignment Assignments CH 2 & 3 (UOP Course) ACC 349 Week 2 Team Assignment Problems Ch. 2 & 3 (UOP Course) ACC 349 Week 2 Team Assignment Case Study BYP 2-2 (UOP Course) ACC 349 Week 2 Discussion Question 1 (UOP Course) ACC 349 Week 2 Discussion Question 2 (UOP Course) ACC 349 Week 3 Individual Assignment Article Analysis Summary (UOP Course) ACC 349 Week 3 Individual Assignment Assignments Ch. 4 (UOP Course) ACC 349 Week 3 Team Assignment Problems Ch. 4 (UOP Course) ACC 349 Week 3 Team Assignment Case Study Ch. 4 (UOP Course) ACC 349 Week 3 Discussion Question 1 (UOP Course)

  5. ACC 349 Week 3 Discussion Question 2 (UOP Course) ACC 349 Week 4 Individual Assignment Ch. 5 & 6 (UOP Course) ACC 349 Week 4 Team Assignment Problems Ch. 7 (UOP Course) ACC 349 Week 4 Team Assignment Case Study Ch. 6 (UOP Course) ACC 349 Week 4 Discussion Question 1 (UOP Course) ACC 349 Week 4 Discussion Question 2 (UOP Course) ACC 349 Week 5 Individual Assignment Ch. 8, 9, & 11 (UOP Course) ACC 349 Final Examination (UOP Course) ACC 349 Week 5 Team Assignment Problems Ch. 8 & 11 (UOP Course) ACC 349 Week 5 Discussion Question 1 (UOP Course) ACC 349 Week 5 Discussion Question 2 (UOP Course) ****************************************** ACC 349 Final Exam Guide (New 2018 with Excel sheet) For more course tutorials visit www.tutorialrank.com

  6. Excel Sheet can be used for any change in values, it automatically gives correct answers 1.The following costs were incurred in September: Direct materials $42,700 Direct labor $29,400 Manufacturing overhead $27,300 Selling expenses $23,600 Administrative expenses $33,700 Conversion costs during the month totaled: 2.A soft drink bottler incurred the following factory utility cost: $3,861 for 950 cases bottled and $3,922 for 1,200 cases bottled. Factory utility cost is a mixed cost containing both fixed and variable components. The variable factory utility cost per case bottled is closest to: 3.The following cost data pertain to the operations of Swestka Department Stores, Inc., for the month of July. Corporate headquarters building lease $87,600 Cosmetics Department sales commissions--Northridge Store $5,230 Corporate legal office salaries $60,500

  7. Store manager's salary-Northridge Store $17,200 Heating-Northridge Store $20,200 Cosmetics Department cost of sales--Northridge Store $37,400 Central warehouse lease cost $11,100 Store security-Northridge Store $18,900 Cosmetics Department manager's salary--Northridge Store $4,150 The Northridge Store is just one of many stores owned and operated by the company. The Cosmetics Department is one of many departments at the Northridge Store. The central warehouse serves all of the company's stores. What is the total amount of the costs listed above that are direct costs of the Cosmetics Department? 4.Erkkila Inc. reports that at an activity level of 6,400 machine-hours in a month, its total variable inspection cost is $425,930 and its total fixed inspection cost is $179,493. What would be the average fixed inspection cost per unit at an activity level of 6,700 machine-hours in a month? Assume that this level of activity is within the relevant range.

  8. 5.Nikkel Corporation, a merchandising company, reported the following results for July: Sales $407,000 Cost of goods sold (all variable) $173,400 Total variable selling expense $20,400 Total fixed selling expense $22,200 Total variable administrative expense $14,800 Total fixed administrative expense $39,700 The contribution margin for July is: 6.Job 593 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $2,412 Direct labor-hours 74 labor-hours Direct labor wage rate $ 21 per labor-hour Machine-hours 137 machine-hours

  9. The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $22 per machine- hour. The total cost that would be recorded on the job cost sheet for Job 593 would be: 7.The Assembly Department started the month with 19,500 units in its beginning work in process inventory. An additional 285,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 45,250 units in the ending work in process inventory of the Assembly Department. How many units were transferred to the next processing department during the month? 8.Lasseter Corporation has provided its contribution format income statement for August. The company produces and sells a single product. If the company sells 5,200 units, its total contribution margin should be closest to: 9.Olds Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 5,400 Variable costs per unit: Direct materials $88

  10. Direct labor $79 Variable manufacturing overhead $7 Variable selling and administrative expense $13 Fixed costs: Fixed manufacturing overhead $210,600 Fixed selling and administrative expense $388,800 There were no beginning or ending inventories. The absorption costing unit product cost was: 10.Zurasky Corporation is considering two alternatives: A and B. Costs associated with the alternatives are listed below: Alternative A Alternative B Materials costs $22,000 $52,000 Processing costs $28,000 $28,000 Equipment rental $10,100 $28,200 Occupancy costs $10,500 $22,000

  11. What is the differential cost of Alternative B over Alternative A, including all of the relevant costs? 11.Bossie Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs and its activity based costing system: Costs: Wages and salaries $284,000 Depreciation 268,000 Utilities 221,000 Total $773,000 Distribution of resource consumption: Activity Cost Pools Assembly Setting up Other Total Wages and salaries 45% 35% 20% 100% Depreciation 30% 10% 60% 100% Utilities 15% 65% 20% 100% How much cost, in total, would be allocated in the first-stage allocation to the Assembly activity cost pool?

  12. 12.The cash budget is usually prepared after the budgeted income statement. True False 13.Cadavieco Detailing's cost formula for its materials and supplies is $2,090 per month plus $15 per vehicle. For the month of November, the company planned for activity of 89 vehicles, but the actual level of activity was 49 vehicles. The actual materials and supplies for the month was $2,660. The materials and supplies in the planning budget for November would be closest to: Q-14 Aide Industries is a division of a major corporation. Data concerning the most recent year appears below: Sales $18,120,000 Net operating income $1,177,800 Average operating assets $4,450,000

  13. The division's return on investment (ROI) is closest to: (Round your answer to 2 decimal places.) Q-15 Blue Corporation's standards call for 5,800 direct labor-hours to produce 1,450 units of product. During May 1,050 units were produced and the company worked 1,350 direct labor-hours. The standard hours allowed for May production would be: Q-16 The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output 6.0 hours Standard variable overhead rate $12.40 per hour The following data pertain to operations for the last month: Actual hours 2,600 hours Actual total variable manufacturing overhead cost $32,870 Actual output 250 units What is the variable overhead efficiency variance for the month? What is the variable overhead efficiency variance for the month? 17.Wyly Inc. produces and sells a single product. The selling price of the product is $240.00 per unit and its variable cost is $88.80 per unit. The fixed expense is $374,598 per month.

  14. The break-even in monthly dollar sales is closest to: (Round your intermediate calculations to 2 decimal places.) Use excel sheet for any change in values 18.Part O43 is used in one of Scheetz Corporation's products. The company's Accounting Department reports the following costs of producing the 16,400 units of the part that are needed every year. An outside supplier has offered to make the part and sell it to the company for $32.00 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company. If the outside supplier's offer were accepted, only $22,400 of these allocated general overhead costs would be avoided. Required: a. operating income of buying part O43 from the supplier rather than continuing to make it inside the company. (Input the amount as a positive value. Omit the "$" sign in your response.) Prepare a report that shows the effect on the company's total net Net operating income would decrease be by $ . Make

  15. 19.Activity rates from Quattrone Corporation's activity-based costing system are listed below. The company uses the activity rates to assign overhead costs to products: Activity Cost Pools Activity Rate Processing customer orders $94.07 per customer order Assembling products $2.87 per assembly hour Setting up batches $62.33 per batch Last year, Product F76D involved 3 customer orders, 464 assembly hours, and 21 batches. How much overhead cost would be assigned to Product F76D using the activity-based costing system? 20.The Gasson Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 12,000 units, The ending work in process inventory is 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the costs per equivalent unit for the period $4.10 for the materials and $1.30 for labor and overhead, whatis the balance of the ending work in process inventory account would be: (Do not round Cost per equivalent unit) ****************************************** ACC 349 Final Exam Guide (UOP Course)

  16. For more course tutorials visit www.tutorialrank.com 1) What does cost accounting measure, record, and report? 2) What is the best way to handle manufacturing overhead costs in order to get the most timely job cost information? 3) At the end of the year, manufacturing overhead has been overapplied. What occurred to create this situation? 4) Which of the following would be accounted for using a job order cost system? 5) In a job order cost accounting system, the Work in Process account is 6) Which one of the following is an important feature of a job order cost system? 7) Which one of the following is indirect labor considered? 8) Which of the following is an element of manufacturing overhead? 9) Which one of the following costs would be included in manufacturing overhead of a lawn mower manufacturer? 10) A well-designed activity-based costing system starts with 11) An activity that has a direct cause-effect relationship with the resources consumed is a(n)

  17. 12) In traditional costing systems, overhead is generally applied based on 13) All of the following statements are correct EXCEPT that 14) Which of the following is a value-added activity? 15) Which of the following is a nonvalue-added activity? 16) Poodle Company manufactures two products, Mini A and Maxi B. Poodle's overhead costs consist of setting up machines, $800,000; machining, $1,800,000; and inspecting, $600,000. Information on the two products is: Mini A Maxi B Direct labor hours 15,000 25,000 Machine setups 600 400 Machine hours 24,000 26,000 Inspections 800 700 Overhead applied to Mini A using activity-based costing is 17) Poodle Company manufactures two products, Mini A and Maxi B. Poodle's overhead costs consist of setting up machines, $800,000; machining, $1,800,000; and inspecting, $600,000. Information on the two products is: Mini A Maxi B Direct labor hours 15,000 25,000 Machine setups 600 400

  18. Machine hours 24,000 26,000 Inspections 800 700 Overhead applied to Mini A using traditional costing using direct labor hours is 18) Which of the following factors would suggest a switch to activity- based costing? 19) Rosen, Inc. has 10,000 obsolete calculators, which are carried in inventory at a cost of $20,000. If the calculators are scrapped, they can be sold for $1.10 each (for parts). If they are repackaged, at a cost of $15,000, they could be sold to toy stores for $2.50 per unit. What alternative should be chosen, and why? 20) Walton, Inc. is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $16, while the cost of assembling each unit is estimated at $17. Unassembled units can be sold for $55, while assembled units could be sold for $71 per unit. What decision should Walton make? 21) The cost to produce Part A was $10 per unit in 2005. During 2006, it has increased to $11 per unit. In 2006, Supplier Company has offered to supply Part A for $9 per unit. For the make-or-buy decision, 22) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break-even point? 23) Hartley, Inc. has one product with a selling price per unit of $200, the unit variable cost is $75, and the total monthly fixed costs are $300,000. How much is Hartley’s contribution margin ratio? 24) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has

  19. a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers? 25) Which cost is charged to the product under variable costing? 26) Which cost is NOT charged to the product under variable costing? 27) Variable costing 28) If a company is concerned with the potential negative effects of establishing standards, they should 29) The difference between a budget and a standard is that 30) A standard cost is 31) The per-unit standards for direct labor are 2 direct labor hours at $12 per hour. If in producing 2,400 units, the actual direct labor cost was $51,200 for 4,000 direct labor hours worked, the total direct labor variance is 32) The total variance is $10,000. The total materials variance is $4,000. The total labor variance is twice the total overhead variance. What is the total overhead variance? 33) The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 11,200 gallons of direct materials that actually cost $42,400 were used to produce 6,000 units of product. The direct materials quantity variance for last month was 34) If the standard hours allowed are less than the standard hours at normal capacity, 35) Manufacturing overhead costs are applied to work in process on the basis of

  20. 36) The overhead volume variance relates only to 37) At January 1, 2004, Barry, Inc. has beginning inventory of 4,000 widgets. Barry estimates it will sell 35,000 units during the first quarter of 2004 with a 10% increase in sales each quarter. Barry’s policy is to maintain an ending inventory equal to 25% of the next quarter’s sales. Each widget costs $1 and is sold for $1.50. How much is budgeted sales revenue for the third quarter of 2004? 38) Lewis Hats is planning to sell 600 straw hats. Each hat requires a half pound of straw and a quarter hour of direct labor. Straw costs $0.20 per pound and employees of the company are paid $22 per hour. Lewis has 80 pounds of straw and 40 hats in beginning inventory and wants to have 50 pounds of straw and 60 hats in ending inventory. How many units should Lewis Hats produce in April? 39) Gottberg Mugs is planning to sell 2,000 mugs and produce 2,200 mugs during April. Each mug requires 2 pounds of resin and a half hour of direct labor. Resin costs $1 per pound and employees of the company are paid $12.50 per hour. Manufacturing overhead is applied at a rate of 120% of direct labor costs. Gottberg has 2,000 pounds of resin in beginning inventory and wants to have 2,400 pounds in ending inventory. How much is the total amount of budgeted direct labor for April? 40) The cost-plus pricing approach's major advantage is 41) A company must price its product to cover its costs and earn a reasonable profit in 42) Prices are set by the competitive market when ****************************************** ACC 349 Wee 5 TeamAssignment Part 3 (Jeemp Farms)

  21. For more course tutorials visit www.tutorialrank.com You have completed the analysis of ABC and determined whether it is a good option for Jeemp Farms. Create a 5- to 10-slide presentation with speaker notes for Jeemp Farms management that addresses the following:  Explain ABC costing and how it is different than traditional costing.  Explain the advantages/disadvantages of using ABC costing.  Define the terminology that is used in an ABC costing system.  Explain whether ABC is the preferential system for Jeemp Farms and why.  Recommend whether the company should discontinue the sod portion of the business and what outside factors might need to be considered prior to doing so.  List any non-financial factors that should be considered in decisions the company makes.  Include at least three outside credible sources in APA formatting at the end of your presentation so the management will know how to access more information about ABC.

  22. Format your assignment to APA standards. Click the Assignment Files tab to submit your assignment. ****************************************** ACC 349 Week 1 Discussion Question 1 (UOP Course) For more course tutorials visit www.tutorialrank.com What are some of the key differences between financial and managerial accounting? How do these differences impact the type of information that must be gathered and reported? What are the different types of decisions that users of financial accounting information must make? What are the different types of decisions that users of managerial accounting information must make? ****************************************** ACC 349 Week 1 Discussion Question 2 (UOP Course) For more course tutorials visit

  23. www.tutorialrank.com What are the differences between a direct cost and an indirect cost? Which is the more difficult cost to track? Why? How do indirect costs affect the cost of a product? Should indirect costs be included in product cost? Why or why not? ****************************************** ACC 349 Week 1 IndividualAssignment BYP 1-7, E1-7 (UOP Course) For more course tutorials visit www.tutorialrank.com Prepare written responses to the following assignments from Ch. 1 of Managerial Accounting: Tools for Business Decision Making: Exercise E1-7 exercise #7 only Ethics Case BYP 1-7 case #7 only ******************************************

  24. ACC 349 Week 1 Lab Problems For more course tutorials visit www.tutorialrank.com priceWeek 1 • Question 1 Segregation of duties o is a preventive control o is a detective control o separates responsibilities for authorizing transactions, recording transactions, and maintaining custody of the related assets • Question 2 the accounting records of Mason Company for the year just completed: The following cost and inventory data are taken from Costs incurred: Direct labor cost $ 87,000 Purchases of raw materials $ 131,000 Manufacturing overhead $ 208,000 Advertising expense $ 46,000 Sales salaries $ 102,000

  25. Depreciation, office equipment $ 228,000 Beginning End of of the Year the year Inventories: Raw materials $ 8,900 $10,100 Work in process $ 5,400 $21,000 Finished goods $76,000 $25,800 Required: 1. Prepare a schedule of cost of goods manufactured. 2. income statement for the year. Prepare the cost of goods sold section of Mason Company’s • Question 3 reported the following costs and expenses for the most recent month: Award: 10 out of 10.00 points Arden Company Direct materials $83,000 Direct labor $45,000 Manufacturing overhead $22,000 Selling expenses $25,000 Administrative expenses $38,000 Required:

  26. 1. What is the total amount of product costs? 2. What is the total amount of period costs? 3. What is the total amount of conversion costs? 4. What is the total amount of prime costs? • Question 4 6 is $23.00 per direct laborhour and its direct labor wage rate is $13.00 per hour. The following information pertains to Job A500: Mickley Company’s predetermined overhead rate Required: 1. What is the total manufacturing cost assigned to Job A500? 2. If Job A500 consists of 40 units, what is the average cost assigned to each unit included in the job? • Question 5 flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow: Helix Corporation produces prefabricated Percent Complete Units Materials Conversion Work in process inventory, May 1 74,000 65% 30%

  27. Work in process inventory, May 31 54,000 40% 20% Materials cost in work in process inventory, May 1 $ 58,800 Conversion cost in work in process inventory, May 1 $ 17,500 Units started into production 262,400 Units transferred to the next production department 282,400 Materials cost added during May $ 400,240 Conversion Cost Added During May $ 252,244 Required: 1. Assume that the company uses the weightedaverage method of accounting for units and costs.Determine the equivalent units for May for the first process. 2. Compute the costs per equivalent unit for May for the first process. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in May. • Question 6 future. Financial accounting focuses on decisions affecting the False

  28. True • Question 7 within the organization while financial accounting creates reports outside the organization. Managerial Accounting creates reports for managers True False • Question 8 standards include all of the following EXCEPT: The IMA Statement of Ethical Professional Practice Honesty Credibility Confidence Competence? ****************************************** ACC 349 Week 2 Connect Problems (with Excel Sheet) For more course tutorials visit www.tutorialrank.com

  29. This Tutorial contains Excel Sheet which can be used for any values Week 2 • Question 1 dinnerdance. The dinnerdance committee has assembled the following expected costs for the event: The Hartford Symphony Guild is planning its annual Dinner (per person) $10 Favors and program (per person) $4 Band $700 Rental of ballroom $2,000 Professional entertainment during intermission $2,000 Tickets and advertising $700 The committee members would like to charge $41 per person for the evening’s activities. Required: 1. Compute the breakeven point for the dinnerdance (in terms of the number of persons who must attend). 2. Assume that last year only 200 persons attended the dinnerdance.If the same number attend this year, what price per ticket must be charged in order to break even? 3. Refer to the original data ($41 ticket price per person). Prepare a CVP graph for the dinnerdance from zero tickets up to 550 tickets sold.

  30. • Question 2 The following information pertains to each of the company’s first two years of operations: Walsh Company manufactures and sells one product. Variable costs per unit: Manufacturing: Direct materials $ 21 Direct labor $ 11 Variable manufacturing overhead $ 4 Variable selling and administrative $ 3 Fixed costs per year: Fixed manufacturing overhead $ 320,000 Fixed selling and administrative expenses $ 100,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company’s product is $51 per unit. Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for year 1 and year 2.

  31. b. Prepare an income statement for year 1 and year 2. 2. Assume the company uses absorption costing: a. Compute the unit product cost for year 1 and year 2. b. Prepare an income statement for year 1 and year 2. 3. Reconcile the difference between variable costing and absorption costing net operating income in year 1and year 2. • Question 3 Award: 6 out of 6.00 points Barlow Company manufactures three products: A, B, and C. The selling price, variable costs, and contribution margin for one unit of each product follow: Product A B C Selling price $240 $ 320 $ 300 Variable expenses: Direct materials 18 72 27 Other variable expenses 152 174 228 Total variable expenses 224 192 255

  32. Contribution margin $ 96 $ 48 $ 45 Contribution margin ratio 30% 20% 15% The same raw material is used in all three products. Barlow Company has only 4,900 pounds of raw material on hand and will not be able to obtain any more of it for several weeks due to a strike in its supplier’s plant. Management is trying to decide which product(s) to concentrate on next week in filling its backlog of orders. The material costs $9 per pound. Required: 1. Compute the amount of contribution margin that will be obtained per pound of material used in each product. 2. a. Compute the amount of contribution margin on each product. b. Which orders would you recommend that the company work on next week—the orders for product A,product B, or product C? 3. .A foreign supplier could furnish Barlow with additional stocks of the raw material at a substantial premium over the usual price. If there is unfilled demand for all three products, what is the highest price that Barlow Company should be willing to pay for an additional pound of materials? • Question 4. Award: 6 out of 6.00 points

  33. Imperial Jewelers is considering a special order for 24 handcrafted gold bracelets to be given as gifts to members of a wedding party. The normal selling price of a gold bracelet is $408.00 and its unit product cost is $268.00 as shown below: Direct materials $ 147 Direct labor 81 Manufacturing overhead 40 Unit product cost $ 268 Most of the manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $11 of the overhead is variable with respect to the number of bracelets produced. The customer who is interested in the special bracelet order would like special filigree applied to the bracelets. This filigree would require additional materials costing $10 per bracelet and would also require acquisition of a special tool costing $457 that would have no other use once the special order is completed. This order would have no effect on the company’s regular sales and the order could be fulfilled using the company’s existing capacity without affecting any other order. Required: a. What effect would accepting this order have on the company’s net operating income if a special price of $368.00 per bracelet is offered for this order? b. Should the special order be accepted at this price? ******************************************

  34. ACC 349 Week 2 Discussion Question 1 (UOP Course) For more course tutorials visit www.tutorialrank.com What is activity-based costing? What are some of the key elements of activity-based costing? How does this method differ from a more traditional costing method? ****************************************** ACC 349 Week 2 Discussion Question 2 (UOP Course) For more course tutorials visit www.tutorialrank.com What are value-added processes? How do you determine if a process adds value? How does identification of value-added processes help a company run more efficiently and effectively? ******************************************

  35. ACC 349 Week 2 Individual Assignment Assignments CH 2 and 3 (UOP Course) For more course tutorials visit www.tutorialrank.com Prepare written responses to the following assignments from Managerial Accounting: Tools for Business Decision Making: Ch. 2 – Exercises E-2-6 and E2-9 Ch. 3 – Exercises E3-5 and E3-9 Ch. 3 – Questions 2 and 3 ****************************************** ACC 349 Week 2 Lab Problems For more course tutorials visit

  36. www.tutorialrank.com Week 2 • Question 1 dinnerdance. The dinnerdance committee has assembled the following expected costs for the event: The Hartford Symphony Guild is planning its annual Dinner (per person) $10 Favors and program (per person) $4 Band $700 Rental of ballroom $2,000 Professional entertainment during intermission $2,000 Tickets and advertising $700 The committee members would like to charge $41 per person for the evening’s activities.

  37. Required: 1. Compute the breakeven point for the dinnerdance (in terms of the number of persons who must attend). 2. Assume that last year only 200 persons attended the dinnerdance.If the same number attend this year, what price per ticket must be charged in order to break even? 3. Refer to the original data ($41 ticket price per person). Prepare a CVP graph for the dinnerdance from zero tickets up to 550 tickets sold. • Question 2 The following information pertains to each of the company’s first two years of operations: Walsh Company manufactures and sells one product. Variable costs per unit: Manufacturing: Direct materials $ 21 Direct labor $ 11 Variable manufacturing overhead $ 4 Variable selling and administrative $ 3

  38. Fixed costs per year: Fixed manufacturing overhead $ 320,000 Fixed selling and administrative expenses $ 100,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company’s product is $51 per unit. Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for year 1 and year 2. b. Prepare an income statement for year 1 and year 2.

  39. 2. Assume the company uses absorption costing: a. Compute the unit product cost for year 1 and year 2. b. Prepare an income statement for year 1 and year 2. 3. Reconcile the difference between variable costing and absorption costing net operating income in year 1and year 2. • Question 3 Award: 6 out of 6.00 points Barlow Company manufactures three products: A, B, and C. The selling price, variable costs, and contribution margin for one unit of each product follow: Product A B C Selling price $ 300 $240 $ 320 Variable expenses: Direct materials 72 18 27 Other variable expenses 152 174 228 Total variable expenses 224 192 255

  40. Contribution margin $ 96 $ 48 $ 45 Contribution margin ratio 30% 20% 15% The same raw material is used in all three products. Barlow Company has only 4,900 pounds of raw material on hand and will not be able to obtain any more of it for several weeks due to a strike in its supplier’s plant. Management is trying to decide which product(s) to concentrate on next week in filling its backlog of orders. The material costs $9 per pound. Required: 1. per pound of material used in each product. Compute the amount of contribution margin that will be obtained 2. a. Compute the amount of contribution margin on each product. b. Which orders would you recommend that the company work on next week—the orders for product A,product B, or product C? 3. of the raw material at a substantial premium over the usual price. If there is unfilled demand for all three products, what is the highest price that Barlow Company should be willing to pay for an additional pound of materials? .A foreign supplier could furnish Barlow with additional stocks • Question 4. Award: 6 out of 6.00 points

  41. Imperial Jewelers is considering a special order for 24 handcrafted gold bracelets to be given as gifts to members of a wedding party. The normal selling price of a gold bracelet is $408.00 and its unit product cost is $268.00 as shown below: Direct materials $ 147 Direct labor 81 Manufacturing overhead 40 Unit product cost $ 268 Most of the manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $11 of the overhead is variable with respect to the number of bracelets produced. The customer who is interested in the special bracelet order would like special filigree applied to the bracelets. This filigree would require additional materials costing $10 per bracelet and would also require acquisition of a special tool costing $457 that would have no other use once the special order is completed. This order would have no effect on the company’s regular sales and the order could be fulfilled using the company’s existing capacity without affecting any other order. Required: a. operating income if a special price of $368.00 per bracelet is offered for this order? What effect would accepting this order have on the company’s net b. Should the special order be accepted at this price? ******************************************

  42. ACC 349 Week 2 TeamAssignment Case Study BYP 2-2 (UOP Course) For more course tutorials visit www.tutorialrank.com Prepare written responses to the following case study from Ch. 2 of Managerial Accounting: Tools for Business Decision Making: Managerial Analysis BYP 2-2 ****************************************** ACC 349 Week 2 Team Assignment Problems Ch. 2 and 3 (UOP Course) For more course tutorials visit www.tutorialrank.com

  43. Prepare written responses to the following problems from Managerial Accounting: Tools for Business Decision Making: Ch. 2 – Problem P2-4A Ch. 3 – Problem P3-3A ****************************************** ACC 349 Week 3 Connect Problems (with Excel Sheet) For more course tutorials visit www.tutorialrank.com This Tutorial contains Excel Sheet which can be used for any values Q-1 Lehner Corporation has provided the following data from its activity- based costing accounting system: Indirect factory wages $552,000

  44. Factory equipment depreciation $332,000 Distribution of Resource Consumption across Activity Cost Pools: The "Other" activity cost pool consists of the costs of idle capacity and organization-sustaining costs that are not assigned to products. How much indirect factory wages and factory equipment depreciation cost would NOT be assigned to products using the activity-based costing system? Q-2 For years, Worley believed that the 6% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declining profits Worley decided to implement an activity based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown below: Activity Cost Pool (Activity Measure) Customer deliveries (Number of deliveries)

  45. Manual order processing (Number of manual orders) Electronic order processing (Number of electronic orders) Line item picking (Number of line items picked) Other organizationsustaining costs (None) Total selling and administrative expenses Worley gathered the data below for two of the many hospitals that it serves—University and Memorial (both hospitals purchased a total quantity of medical supplies that had cost Worley $36,000 to buy from its manufacturers): Q-3 SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries in the Los Angeles area. The company is implementing an activitybased costing system that has four activity cost pools: Travel, Pickup and Delivery, Customer Service, and Other. The activity measures are miles for the Travel cost pool, number of pickups and deliveries for the Pickup and Delivery cost pool, and number of customers for the Customer Service cost pool. The Other cost pool has no activity measure because it is

  46. an organization sustaining activity. The following costs will be assigned using the activitybased Costing system: Driver and guard wages Vehicle operating expense Vehicle depreciation Customer representative salaries and expenses Office expenses Administrative expenses Total cost Q-4 Reasons a company may decide not to use ABC include ABC tends to be more expensive to implement and maintain than the traditional method. ABC does not conform to external reporting requirements.

  47. Some arbitrary allocations will still occur and managers who are not knowledgeable in the limitations of an ABC system may make mistakes in pricing and other critical decisions. When a company shifts from a traditional cost system in which manufacturing overhead is applied based on direct labor-hours to an activitybased costing system with batch-level and product-level costs, the unit product costs of low volume products typically decrease whereas the unit product costs of high volume products typically increase. in traditional costing some manufacturing cost may be excluded from product cost Q-5 Which of the following would probably be the most accurate measure of activity to use for allocating the costs associated with a factory's Machine-hours Direct labor-hours Number of orders processed Cost of materials purchased

  48. ****************************************** ACC 349 Week 3 Discussion Question 1 (UOP Course) For more course tutorials visit www.tutorialrank.com 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? ****************************************** ACC 349 Week 3 Discussion Question 2 (UOP Course) For more course tutorials visit www.tutorialrank.com What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is

  49. more useful for internal decision-making? Why? As a manager, which would you prefer? Why? ****************************************** ACC 349 Week 3 Individual Assignment Article Analysis Summary (UOP Course) For more course tutorials visit www.tutorialrank.com Use the Internet or other credible resources to find an article relevant to activity-based costing (ABC), job costing, or process costing. Write a 125-word summary of the article. Summarize the major topics of the article, and explain what you learned as a result of your reading. ******************************************

  50. ACC 349 Week 3 Individual Assignment Assignments Ch. 4 (UOP Course) For more course tutorials visit www.tutorialrank.com Prepare written responses to the following assignments from Ch. 4 of Managerial Accounting: Tools for Business Decision Making: Exercises E4-10 and E4-11 Questions 13 and 14 ****************************************** ACC 349 Week 3 Team Assignment Case Study Ch. 4 (UOP Course) For more course tutorials visit www.tutorialrank.com

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