Coins Assignment.doc - Tom Fields ACCT 5012 Coins for Anything Homework Assignment Coins for Anything Inc(CFA founded in November 2002 is a manufacturer

Coins Assignment.doc - Tom Fields ACCT 5012 Coins for...

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Tom Fields ACCT 5012 Coins for Anything Homework Assignment Coins for Anything, Inc. (CFA), founded in November, 2002, is a manufacturer of high quality, customized commemorative coins. Their website says: “Here we can help you create your own collectible coin. We have our own Graphic artists who are ready and able to help your coin creation become a reality. Best of all its FREE to you when you have your coins made with us! We go the extra mile to ensure complete customer satisfaction, so you know you’re getting the best product available on the market. We will do whatever it takes to make sure you get what you have earned and deserve! The coins we help you create can be used as a versatile tool for any organization. Not only can it promote pride in your members, but it can also be used as a valuable marketing tool. Combine the best available materials with expert craftsmanship and you’ve got a lasting token that showcases the pride and hard work that your organization is known for. Enjoy your coin making experience with Coins for Anything, Inc. Get started today! All you need is a picture, slogan, logo, etc., then Submit your image to us and we will do the rest! Our graphic artists will turn your drawing into a digital image. You will be able to view the digital image of your coin before we submit your final request. Yes it is that easy! Just take a look at some of the Challenge Coins we have already designed.” In this series of problems we will look at the cost allocation issues from the course, in the setting of a sequence of increasingly complex problems, centered on the CFA organization. Treat each problem independently (i.e., don’t use information given in one problem to solve a different problem). 1
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I. Getting started. During October, CFA produces one batch of 4,000 copper coins. There is no work-in-process inventory at the start of October or at the end of October. CFA has three types of costs – direct material, molding overhead and engraving overhead (all labor at the plant is indirect, and thus included in overhead). Direct material is traced directly to the batch level. Molding overhead is allocated to the batches based on molding machine hours, and engraving overhead costs are allocated to the batches based on engraving machine hours. Within a given batch, every coin is assumed to be identical. CFA uses Actual costing.
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  • Fall '19
  • Bullion coin, Numismatics

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