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Project 2 Due January 8th by 11:59 pm central Name:

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Project 2 Due January 8th by 11:59 pm central Upload your solution in area 2 of the project 2 assignment area. Make sure you type your name in cell A3 You should always verify that your problem has been loaded correctly by either going back to the assignment and clicking on Ok and you should You will be graded on the accuracy of your answer and the usage of excel. You must use excel cell referencing in all of your calculations and use the data analysis tool in development of your regression tables. The problem solution is worth a total of 15 pts. I have a demonstration exercise that demonstrates the traditional and the ABC method and an audio PowerPoint of this process, too, in course documents chapter 5 folder and an extensive regression demonstration in the chapter 6 course document folder. I will post my solution at 8 am on January 9th, so I will not accept any submissions late for partial credit. Grading Rubric: I will take off 10 pts. if you do not use the excel application appropriately. Part 1 Worth 5 pts. Part 2 Worth 10 pts. Simple regression worth 2 1/2 pts., Scattergraph 2 pts., Multiple regression 2 1/2 pts., each estimation worth 1 pt. each, and comments 1 pt. Please make sure you read the academic honesty policy, since I want to make sure everyone realizes that they should not be discussing this problem outside the discussion board. This is an individual assignment and should be completed by each student on their own. I realize some of you maybe best friends or relatives, but this is an individual assignment and you should not be working as a team. Please use this template below to solve project 2 which has 2 parts on separate worksheets and save your file using your first initial, last name, name of assignment, so hdedenproblem2.xls Name: TYPE in your name here see the file you uploaded and you can also go to view grades and click on the exclamation to see the file you have loaded. Remember it is your responsibility to take the time to ensure that your file has uploaded correctly. If there are problems, please contact me immediately. Academic Honesty Policy: Each student is assumed to be a mature and responsible adult with high academic and moral standards. There is no place in the business profession or the classroom for dishonesty. Therefore, any student found cheating or presenting material in a dishonest fashion would be dismissed from the course and given a course grade of “F.” You should not exchange files or discuss turn in problems or take home exams outside the discussion board . It is unfair to your classmates to discuss turn-in problems and take home exams via e-mail or to send files with the solution to any member of the class. I always have a discussion thread set up for students to ask questions, so this is the place you should ask questions on these assignments and exams. Remember, it does not matter what type of assignment it is, if you are found cheating you will receive an F for the course and the College of Business will be informed of your actions for further proceedings.
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Part 1 Industries Inc. manufactures 2 products: A and B. A review of the company's accounting records revealed the following per-unit costs and production volume: Product A Product B Production volume(units) 3000 5000 Direct labor hours used 2 3 Direct material cost per unit $30 $50 Direct Labor cost: $14 per hour 2 hours at $14 $28 3 hours at $14 $72 Manufacturing overhead 2 hours at $82 $164.00 3 hours at $82 $246 Manufacturing overhead is budgeted at : $1,722,000 Required: a. Using direct labor hours as the base for assigning manufacturing overhead cost to products, compute the direct labor needed and the predetermined overhead rate using direct labor hours. Hint: the predetermined overhead rate you compute should be $100, since I have given you the answer but I want to make sure you know how to determine the $100. Direct labor hours, budget hours Product A Product B Total direct labor hours per direct labor hour b. Using the predetermined overhead rate you determined in "a" above, determine the unit product cost of each product. Hint: Don't forget that unit product cost includes direct material, direct labor, and Manufacturing overhead. Don't make this complicated, since the numbers are already there for you. Product A Product B Direct material cost per unit $30 Direct labor cost per unit Manufacturing overhead per unit Total product cost per unit c. You are a recent hire to Industries Inc. and you have made it known that you just recently completed an MBA program that had a management accounting course that taught you about another costing system that might be appropriate. During a meeting, you suggested that an ABC system might be a more accurate costing system. Management has asked you to recompute the unit cost using the ABC costing approach, since the company is showing declining profits. First complete the following chart that is set up like exhibit 5-7 on page 177, and there is a more detailed explanation of the 3 step calculation approach example on page 176 exhibit 5-6. I have highlighted the columns in red you need to complete and I have started the table to guide you. Activity Activity Cost pool Cost driver Cost Driver Quantity Pool rate Product line Setups $202,000 Number of setups 100 $2,020.00 Product A 90 $181,800 3,000 $60.60 Product B 10 5,000 Total 100 General Factory 1,300,000 Direct labor hours 20,000 Product A 5000 3,000 Product B 15000 5,000 Total 20000 Machine processing 220,000 Machine hours 2,200 Product A 1600 3,000 Product B 600 5,000 Grand Total $1,722,000 Total 2200 d. Complete the following table to determine the unit product costs from ABC, just like the exhibit 5-8 on page 178 Product A Product B Direct material cost per unit $30 Direct labor cost per unit Total direct costs per unit Manufacturing overhead(based on ABC) Setups General Factory Machine processing Total product cost per unit e. Write a short report (at least 75 words) that identifies factors that may account for the company's declining profits. Predetermined Overhead rate Cost driver quantity for product line Activity cost for product line Product line production volume Activity cost per unit of product Guidance: Look at exhibit 5-2 on page 172 Guidance: Make sure you are using  cell references, by  referencing the cells above.
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Project 2
Due January 8th by 11:59 pm central
Name: TYPE in your name here Please use this template below to solve project 2 which has 2 parts on separate worksheets and save your file using your...

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