Complete the following problems
1. Arcadia Company incurred the following costs and machine hours during the first three months of the current
year. Assume that the driver for all costs is machine hours.
Type of cost
Assignments 25% paper work due every Sat
Midterm 30% end of the 4th week (a blank sheet of paper, calculator)
Managerial acct is the provision of acct info. For a companys internal
Unlike financial acct,
Team vs. Groups. A team consists of two or more people who work interdependently over some time period to accomplish common goals
related to some task-oriented purpose. Teams have deeper interdependence and interactions occur for a specific task-oriented
It is the process of creating, selecting or changing the structure of an organization. Includes
factors such as business environment, company strategy, technology, company sizes etc.
o The business environment here was stable which a
Organizational structure-Formally dictates how jobs and tasks are divided and coordinated between individuals and groups within the company
Org. chart-A drawing that represents every job in the organization and the formal reporting relationships between t
1. Reinstituting bill and hold transactions.
1. Assume the following information:
Variable cost ratio
Total fixed costs
What volume of sales dollars is needed to break even?
2. Patricia Company produces two products, X and Y, which account for
The Thompson Company uses activity-based costing to determine product cost. Three activities and their
rates have been calculated as shown below.
Setting up equipment
= $500 per setup
= $20 per move
= $4 per machine hour
Exercise 5-31 Calculating the Predetermined Overhead Rate, Applying Overhead to Production
At the beginning of the year, Kester Company estimated the following:
Direct labor hours
Kester uses normal costing and applies overhead on
Karam Inc. has compiled the following data in order to put together their first quarter operating budget for 2013:
Karam sells each unit for $95.
Direct Materials Purchases Budget
Direct Labor Budget
Preparing an Overhead Budget
Preparing an Ending Finished Goods Inventory Budget
Preparing a Cost of Goods Sold Budget
ng a Selling and Administrative Expenses B
Midterm Review Sheet
16 matching, 7 open ended (three or four parts each) , 62 multiple choice
Covers chapters 1-9, EXCEPT chapter 6, we will NOT be covering Chapter 6
Difference between managerial and financial accoun
Written by Jon Warner & Anne Sandberg
Generational relations present a modern-day challenge
Generational differences are much in the news these days, with commonplace talk of Boomers considering when
to retire (if ever!), increasin