Cost Accounting
ACCT 362
Jingjing Zhang
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Copyright Jingjing Zhang. All rights reserved.
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Budget and Variance Analysis
Copyright Jingjing Zhang. All rights reserved.
Review
VMOH variance analysis
Spending variance
Efficiency variance
Volume variance
(AP SP) AI AU
SP (AI SI) AU
SP SI (AU S
Problem IV
Tastee Freez, Inc., produces two specialty cream mix flavors for soft
serve ice cream machines. The two flavors, Extreme Chocolate and
Very Strawberry, both start with a vanilla base. The v
14-28 Manes Company
The Manes Company has two products. Product 1 is manufactured entirely in Division
X. Product 2 is manufactured entirely in Division Y. To produce these two products, the
Manes Com
Min Jung Park (260674339) - Assignment 3
Question 17-38
Flow of Physical Units
Flow of Production
Work in Process BOP
inventory
Started during current period
To account for
Completed and transferred
c
Min Park- 260674339
Assignment 2
Question 33
Estimated Sales (Budget)
Beginning of Period Inventory (BOPI)
Average SP
Variable Cost
Fixed Cost
Allocated FC based on budget units
10,000
0
$100.00
$60.0
First Name _
Last Name _
Accounting 362
Quiz 1
Please answer the following questions in the space provided:
Taylor Enterprises produces birdhouses. In 2012, the beginning inventory was 1,000 birdhouse
Problem I
Tastee Freez, Inc., produces two specialty cream mix flavors for soft
serve ice cream machines. The two flavors, Extreme Chocolate and
Very Strawberry, both start with a vanilla base. The va
8-25
Cedar Inc. specializes in the production of futons. It uses standard costing and
flexible budgets to account for the production of a new line of futons. For
2015, budgeted variable overhead at a
8-25
Cedar Inc. specializes in the production of futons. It uses standard costing and
flexible budgets to account for the production of a new line of futons. For
2015, budgeted variable overhead at a
353 (2030 min.) CVP under uncertainty.
1. (a) At a selling price of $120, the unit contributon margin is ($120 $60) = $60, and it will
require the sale of ($240,000 $60) = 4,000 units to break even.
T
344 (2025 min.) Revenue mix, two products.
1. Sales of standard and deluxe carriers are in the ratio of 150,000:50,000. So for every 1 unit of deluxe, 3
(150,000 50,000) units of standard are sold.
Co
343 (25 min.) CVP analysis, decision making.
1. Unit selling price $148
Variable manufacturing costs per unit 63
Variable marketing and distribution costs per unit 15
Contribution margin per unit $ 70
Chapter 3
332 (2030 min.) Effects on operating income, pricing decision.
1. Analysis of special order:
Sales, 5,000 units x $98
$490,000
Variable costs:
Direct materials, 5,000 units x $48
$240,000
Di
CHAPTER 3
COSTVOLUMEPROFIT ANALYSIS
SHORTANSWER QUESTIONS
31 The assumptions underlying CVP analysis are:
1. The sales volume and production volume are identical. The ending balances of all inventorie
CHAPTER 3
COSTVOLUMEPROFIT ANALYSIS
318 (20 min.) Athletic scholarships, CVP analysis.
1. Full course load = 30 credits
Tuition fees for full course load = 30 credits x $400 = $12,000
Let the number o
323 (25 min.) Operating leverage.
1. Let Q denote the quantity of bracelets sold
a. Breakeven point under Option 1
$125Q $80Q = ($435 / 3)
$45Q = $1,305
Q = 29 bracelets
b. Breakeven point under Optio
339 (2025 min.) CVP, income taxes, manufacturing decisions.
1. Total Per Unit
Sales $1,350,000 $54.00
Variable Costs $742,500 $29.70
CM $607,500 $24.30
Fixed Costs $375,000
Operating Income $232,500
I
338 (20 Min.) CVP and income taxes.
1. Revenue Variable costs Fixed costs = Operatng income
20,000($30.00) 20,000($16.50) $162,000 = $108,000
Net Income = $108,000 ($108,000 x 0.40)
Net Income = $64,8
First Name _
Last Name _
Accounting 362
Quiz 2
Please answer the following questions in the space provided:
Latiefa is the cost accountant at Hallet and Sons, manufacturer of exquisite glass serving b
First Name _
Last Name _
Accounting 362
Quiz 1
Please answer the following questions in the space provided:
Taylor Enterprises produces birdhouses. In 2012, the beginning inventory was 1,000 birdhouse
First Name _
Last Name _
Accounting 362
Quiz 2
Please answer the following questions in the space provided:
Latiefa is the cost accountant at Hallet and Sons, manufacturer of exquisite glass serving b