1. (TCO 2) Benchmarking is (Points : 5)
relatively easy to do with the amount of available financial information about companies.
best done with the best in their field regardless of type of company.
simply reporting the magnitude of differences in costs
1. (TCO 9) To guide cost allocation decisions, the fairness or equity criterion is (Points : 5)
the criterion often cited in government contracts.
superior when the purpose of cost allocation is for economic decisions.
used more frequently than the other
(TCO 1) The average cost data are for In-Sync Fixtures Company's (a retailer) only two product lines,
Marblette and Italian Marble. (Points : 5)
The use of this refined activity-based costing system will increase the accuracy of the resulting
Question 1.1. (TCO 3) McDevitt Company employs six individuals. Each is paid $12.50 per hour. How
would total costs of personnel be classified? (Points : 5)
Fixed cost within relevant range
Variable cost within relevant range
1. (TCO 11) The four cost categories in a cost of quality program are (Points : 5)
product design, process design, internal success, and external success.
prevention, appraisal, internal failure, and external failure.
design, conformance, control, and pro
Advanced Cost Management
These are the automatically
computed results of your exam.
Grades for essay questions, and
comments from your instructor, are Points Received:
in the "Details" section below.
1. (TCO D) A company offers a cash rebate of $1 on each $4 package of light bulbs sold during
2010. Historically, 10% of customers mail in the rebate form. During 2010, 4,000,000 packages of light bulbs are sold, and 140,000 $1 rebates are mailed to custo
August Payrolls Payroll for Week 1 Wages and Salaries Expense. Withholding Taxes Payable (10% X 1040). FICA Taxes Payable (7.65% X 1040). Union Dues Payable (2% X 1040). Cash. Computation of wages & salaries expense (200 + 150 + 110 + 250 + 330) = 1040 Pa
A) Intangibles Trade name Copyright Goodwill computation Purchase Price Fair value of assets Fair value of liabilities Fair Value of net assets Goodwill
$10,000 24,000 770,000 800,000 (200,000) 600,000 $170,000
Trade name can be renewed indefinitely and s
Intermediate Accounting II Assignment 2 P 13-11 1) Polska Corporation Note 1: Litigation. Raymark is a defendant in two personal injury lawsuits. The following table summarizes the activity in these lawsuits. Claims Pending at the beginning of the year 0
Chapter 14: Long-term Liabilities
In Chapter 13, we discussed current liabilities. These are obligations that will come due within the current operating period, requiring the use of current assets, or the creation of new current liabilities. Obligations w
Current Liabilities and Contingencies
ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)
Topics 1. Concept of liabilities; definition and classification of current liabilities. 2. Accounts and notes payable; dividends payable. 3. Short-term obligations
Ex. 111 Carson Company manufactures a single product. Annual production costs incurred in the manufacturing process are shown below for the production of 2,000 units. The Utilities and Maintenance are mixed costs. The fixed portions of these costs are $20
Direct Materials Direct Labor Variable mfg. overhead Variable mfg. selling/admin exp Fixed mfg. overhead Fixed mfg. selling/admin exp
Per Unit $20 $42 $10 $5 $18 $13 $108 25% $27 $108 $27 $135
B Total cost per unit ADD: Ma
The Three Stooges Partnership Capital Investment Useful Life in( Years) year 1 year 2 year 3 year 4 year 5 Capital Investment Useful Life in( Years) 150,000 5 13000 13000 13000 13000 13000
year 1 year 2 year 3 year 4 year 5 Capital Investmen
A The doorperson and the manager prevents the cashiers from stealing money because the doorperson would ha Also if they would have cash boxes for themselves it would be more effiencent because then the manager can k Having their own cash box will put them
Drew Corporation Balance Sheet For The Year Ended December 31, 2007 Assets Current Assets Cash Prepaid Insurance Prepaid Insurance Total CA Property, plant, and equipment Equipment LESS: Accumulated Depreciation Total PPE Total Assets Liabilities Current
FixItUp Services Co. Income Statement For The Month Ended June 30, 2007 Revenues Expenses $8,000.00 Advertising expense Supplies expense Gas and oil expense Utilities expense Wage expense Total Expenses Net income FixItUp Services Co. Retained Earnings St
David Trinh 16:26:10 Accounting-301 Monday 9-1pm Chapter 8-9 vocabs Budgetary Control The use of budget to control operations Controllable cost A cost over which a manager has control Controllable margin Contribution margin less controllable fixed costs C
David Trinh 15:46:32 Accounting-301 Chapter 6-7 vocabs Activity index The activity that causes changes in the behavior of costs. Break-even point The level of activity at which total revenues equal total costs. Contribution margin (CM) - The amount of rev
David Trinh 14:56:25 Accounting-301 Monday 9-1pm Chapter 11 vocabs Absorption cost pricing An approach to pricing that defines that cost base as the manufacturing cost; it excludes both variable and fixed selling and administrative costs Cost-based transf
David Trinh 15:49:57 Accounting-301 Monday 9-1pm Chapter 10 vocabs Annual rate of return method The determination of the profitability of a capital expenditure, computed by dividing expected annual net income by the average investment Capital budgeting Th
34. An increase in the level of activity will have the following effects on unit costs for variable and fixed costs: Unit Variable Cost, Unit Fixed Cost a. Increase, Decrease b. Remains constant Remains constant c. Decrease Remains constant d. Remains con