occurred to create this situation? | | A. | | The company incurred more total job costs than the amount budgeted for the job. | | B. | | The actual manufacturing overhead costs were less than the manufacturing overhead assigned to jobs. | | C. | | Estimated manufacturing overhead was less than actual manufacturing overhead costs. | | D. | | The company incurred more manufacturing overhead costs than the manufacturing overhead assigned to jobs. | | | 2) Luca Company overapplied
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Company Case 1) The existing cost system allocates overhead based on each product’s proportion of direct labor costs. The rate per unit of direct labor cost is 300% for all product groups. This results in the following cost breakdowns: 2) When you use an activity based cost model the allocations are as follows: Product Profitablity analysis | | | | | Valves | Pumps | Flow Controllers | Direct Labor cost | 10.00 | 12.50 | 10.00 | Direct Material cost | 16.00 | 20.00 | 22.00 | Manfuacturing
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Units Allocation* Firsts and seconds 1,500,000 .20 180,000. No. 1 common 3,000,000 .40 360,000 No. 2 common 1,875,000 .25 225,000 No. 3 common 1,125,000 .15 135,000 Totals 7,500,000 1.0 900,000 Unit cost: Firsts and seconds .12 (180,000/1,500,000) No. 1 common .12 (360,000/3,000,000) No. 2 common .12 (225,000/1,875,000) No. 3 common .12 (135,000/1,125,000) b. Sales-value-at-split-off
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DSS Assignment (Assignment 1) GROUP DUE DATE: March 13, 2015 Peer Evaluation: Each group member will be grading other team members. A student’s score will be an average of the group member’s rating times the overall assignment score. For example if you get an average of 80/100 in peer evaluation from your group and 90 in the assignment, your INDIVIDUAL score would be 90*.8 = 72/100. If there is a problem with your group members, please e-mail me right away!!! PEER Evaluations are
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96 | 342.24 | 308.6 | Profit/(Loss) per unit | 264.15 | 235.04 | 177.76 | 321.4 | Unit Produced | 940 | 3230 | 6400 | 4200 | Total Profit/Loss | 248301 | 759179.2 | 1137664 | 1349880 | Profit/Loss % | 7.1 | 21.7 | 32.6 | 38.6 | Traditional Cost Method Working Note 1: Product | Unit of output | Machine unit/hour | Total Machine Hour | Wooden Pallet | 940 | 19.20/60 | 300.80 | Cutting/Chopping | 3250 | 35.40/60 | 1905.70 | Wooden Box | 6400 | 15.10/60 | 1610.67 | Lamination Board
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reasoning is he wants the highest percentage of overhead cost assigned to the military contracts (Whitecotton, 2011). This impacts the profitibility of both product lines by (a.) increasing the apparent “cost” of each unit so as to increase the sale price in a “cost-plus” contract and (b.) to reduce the amount of actual cost being charged to each unit sold on the open market, thereby improving the profit margin. In other words, the higher the cost base for each unit, the more the company can charge
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University of St. Marks and St. Johns MBA 621 Financial and Managerial Accounting Assignment 2: “Budgeting” Students Name: Md. Bazlul Karim Students ID: R1404D113105 Contents Introduction: 3 Question-1 3 Budgeting: 3 Strategic Planning: 3 Differences among Long Range Planning, Strategic Planning and Budgeting 4 Is Budgeted performance better than past performance as a basis for judging actual results? 4 The benefits of budgeting: 4 Is budgeting an unnecessary burden for
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practical applications on business decisions. Cost Volume Profit Analysis: Relationship, impact on pricing, practical decision making strategies through CVP analysis Standard Costing and Variance analysis: concept and objectives of standard costing, advantages and limitations, variance analysis (Material, labour, overheads and sales variance), practical applications Budgeting and budgetary control mechanism Activity based costing, Responsibility Accounting Target costing Objective Objective of this
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AppliChem Case 4 - AppliChem Performance Measures Capacity Raw material cost Operating cost ($ Utility cost ($ per ($ per 100 lbs of per 100 lbs of million lbs of Total Cost Release-ease) Release-ease) Release-ease) Utilization rate (%) Production Avarage yield on raw material (%) Mexico 27 17,2 63,7 75,05 13,7 12,012 88,75 94,7 Frankfurt 47 38 80,85 53 15,91 11,116 68,91 98,9 Gary 26 14 53,85
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CHAPTER 17 Process Costing Overview This chapter explains how process-costing systems determine the cost of products or services. In the simplest case, a process has no beginning or ending work-in-process inventory. Considerable complexity is added when a process has both beginning and ending work-in-process inventory; this case necessitates selecting an inventory costflow method. The chapter illustrates two of these methods: the weighted-average method and the first-in, first-out
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