1. The following probability distribution represents the number of people living in a Household (X),
and the probability of occurrence (P(X). Compute the Expected Value (mean), the Variance and the
Standard Deviation for this random variable.
X
1
2
3
P(X)
Name_
Managerial Accounting T2
Show all work!
1.
Ok Corporation uses the weighted-average method in its process costing. The following data concern the company's
Assembly Department for the month of June.
During the month, 7,100 units were completed and t
M2-9
M2-9
M2-9
Determining Financial Statement Effects of Several Transactions
Assets
a (sample)
Cash
b
Cash
c
Cash
Equipment
Cash
Supplies
Supplies
d
e
Total
=
$
Amount
3,940.00
Liabilities
Notes Payable
$4,630.00
($200)
$1,000.00
($300.00)
$300.00
$700.
Community College of Philadelphia
Business and Technology Division
Department: Business Administration
Semester: Fall 2013
Course Title: Financial Accounting - Accounting 101
Course Description: Introduction to the theory of accounts and generally accepte
Chapter 4 Two Relevant Costing Case Scenarios (15 points total)
4.1 The Bloom Company uses 5,000 units of part #301 each year. The full manufacturing cost of
one unit of part 301 at this volume is:
Direct materials
Direct labor
Variable manufacturing over
NAME: _Chapter 3 Problem
During the most recent fiscal period, Karson Company had sales of $80,000.
Variable costs are 40% of sales and fixed costs amounted to $16,000 for the
year. Calculate the following, and explain parts c and e:
a.
Contribution margi
NAME_ _ Chapter 3 Case
The Farm Fresh Food Market is a merchandiser of organic food items. The company is
considering the possibility of selling pomegranates that would sell for $0.59 each.
Pomegranates can be acquired in unlimited quantities for $0.43 ea
NAME: _Chapter 2 Problem
Classify each of the following costs as variable, fixed, mixed, or step by writing an X
under one of the following headings (Sales volume is the cost driver).
Variable
Fixed
Mixed
Step
1. Total selling and administrative costs
2.
Chapter 2 Case 15 points
The University Logo Company needs to predict the labor cost in producing
specialty coffee mugs. The following production information is available:
Year
2006
2007
2008
2009
2010
2011
Production
Volume
2,500
3,400
2,400
4,600
3,200
CASE 1 Strategy and Whole Foods Market, Inc. [WFM]
Even more than in the past, companies that now face global competition must have a
viable strategy for succeeding in the marketplace. A strategyA game plan that enables a
company to attract customers by d
E11-31
a. Financial Success
Expense as a % of revenue
Expense variance %
New product ROI
Net profit
Net profit margin
Year over year revenue growth
New product revenue
Customer Satisfaction and Brand Improvement
Number of complaints
Market share
Average c
P10-30.
Storage Products
Manufacturing Activities Performance Report
For the Month of July
Flexible
Budget
Formula
Volume:
Regular
5,000
Flexible
Budget
Variance
5,000
3,000
Deluxe
Variable costs:
Direct materials:
Lumber:
Regular
Deluxe
Assembly kits:
Re
P10-34
a. Standard cost per unit
= (Standard cost allowed for units produced) / units
= $5,760/300
=
$19.20
Standard number of pounds per unit
=
(Standard materials cost per unit)
=
(Standard materials cost per pound)
$19.20/$3.20
=
6 pounds
b. Actual qua
MA9-46
a.
1.
The reasons that Atkins and Granger use budgetary slack include:
These employees are hedging against the unexpected (reducing
uncertainty and risks).
The use of budgetary slack allows employees to exceed expectations or
show consistent perfo
P9-36.
a.
Carolina Apple
Schedule of Cash Receipts
July, August, and September 2012
July
$ 5,400
2,520
7,840
1,050
$16,810
Cash sales (30% of total sales)
20% of current month's credit sales
70% of last month's credit sales
10% of two months' prior credit
P7-29.
a. Administration costs are allocated based on number of employees and
facilities costs are allocated based on space occupied. Administration costs
should be allocated first since it provides a greater amount of
interdepartmental services than does
P2-25
a. Regression (see Excel file)
b. Plot of equations and observations:
A review of the scatter diagram indicates the April unit volume is not
representative.
c. Which is a better predictor of future costs? Why?
The representative values identified wi
MA 2-35, part a
Skip part d, change high-low to regression in parts a and c
Period
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Total Manuf$ Total tables DR Tables Kit
MA2-35
a. From regression output in Excel
Regression Statistics
Multiple R
0.826789
R Square
0.68358
Adjusted R
Square
0.663804
Standard Error
4049.279
Observations
18
Coefficients
Intercept
14,001.10
X Variable 1
158.3602
Std. Error
6268.23112
26.9354039
USING DATA FROM E2-19 TO DERIVE COST-ESTIMATING EQUATION AND SCATTERGRAM
Month
1
2
3
4
5
6
7
Orders
3,000
1,500
4,000
2,800
2,300
1,000
2,000
Costs
$32,000
$22,400
$52,000
$31,200
$25,600
$16,000
$24,000
Y = a + bX
where a = Y-intercept and b = slope of t
E2-15
a. Total operating cost = $10,000 + $0.40 (X)
Fixed
VC per
cost
unit
where X = servings of chili
FC + VC =
Total
Monthly
Costs
$10,040
Monthly
Volume
(X units)
100
Total
Fixed
Costs
$10,000
Total
Variable Costs
(Unit x $0.40)
$ 40
Average
Unit
Cost