Zainol Page 1 of 10 OFFICE USE ONLY ACW2020 COST INFORMATION FOR DECISION MAKING Question 1 (20 marks) (a) Describe the inventory accounts that are used to keep track of the cost flows in a manufacturing firm. (b) What is activity-based costing, and
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CHAPTER 5 ACTIVITY-BASED COSTING AND ACTIVITY-BASED MANAGEMENT TRUE/FALSE 1. Companies that undercost products will most likely lose market share. 2. When refining a costing system, a company should classify as many costs as possible as indirect costs. 3. Indirect labor and distribution costs would most likely be in the same activity-cost pool. 4. Activity-based costing helps identify various activities that explain why costs are incurred. 5. Traditional systems are likely to undercost
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COURSE SYLLABUS [Spring, 2013] Course: ACC 2302-201 Introduction to Managerial Accounting The course meets in Pellegrino Hall, Room 114, from 10:30 to 11:20 A.M. each Monday, Wednesday, and Friday . The first class meeting is on January 23, 2012. Credit hours: 3. Instructor: Jui-Chin Chang, Ph.D., CMA, CFM, Assistant Professor Office Hours: WHTC- 218B (956) 326-2501 Monday 11:30AM-12: 30 PM& 1:30 – 3:00 PM Wednesday 11:30AM-12:
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CASE 5-69 (60 minutes) 1. Standard Model Deluxe Model Heavy-Duty Model Product costs based on traditional, volume- based costing system $105.00 $215.00 $232.00 × 110% × 110% × 110% × 110% Target price $115.50 $236.50 $255.20 2. Product costs based on activity-based costing system: Regular Model Standard Model Deluxe Model Direct material $10.00 $ 25.00 $ 42.00 Direct labor 10.00 20.00 20.00 Machinery depreciation
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time-driven activity-based costing system approach to Sippican’s financial woes. Quantitative Summary Calculations (Appendix A) reveal that utilization of an time-based activity costing system provides a more detailed analysis of the amount of time (in minutes) each unit, or employee/machine actually uses versus the amount of time that is actually available for work. This analysis also details how much money is being wasted under Sippican’s current system. For example, none of the activities listed
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allocated to production costs based on the number of eggs produced, which is also known as the activity-based costing system. However, as indirect costs, infrastructure costs are hard to trace and allocate to a specific unit, which means, the acquisition of these information costs money. So, a lot of egg producers simply treat these infrastructure costs as fixed costs. Impact of regulation Canada’s dairy, turkey, chicken and table egg industries are regulated by supply management systems (Sooksom, 2010)
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Name________________________________________ University of Oregon ACTG 360 Instructor: Kenneth Njoroge SPRING 2012 SAMPLE FINAL EXAM You have 2hrs to complete this final exam. You are allowed to use a single note sheet, no larger than 8.5 by 11 inches, during the exam. This sheet may be typed on both sides in any font size. Any other additional material is strictly prohibited. There are 13 pages in this quiz, including this cover sheet. The pages are photocopied on one side of the
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1. Increases because some fixed MOH ends up in inventory. 2. Unit-level, batch-level, product line, facility support 3. {utilities, indirect materials},{setup, material movement},{design, engineering}, {property tax, general management} or anything else that’s correct 4. low volume specialty 5. Any of [easier/faster to build/maintain/gain agreement on models, integrates well with info systems, capture complexity with time equations, scales well, captures capacity utilization]
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a: Maximize total contribution margins given the constraints 3 Item b: Sensitivity analysis of solution given 10,000 yards additional acetate. 6 Item c: Income statement 7 Item d: Unit profit using the volume-based costing method. 10 Item e: Unit profit using the activity based costing method. 11 Item f: Financial/economic explanation for the difference between the unit profits 14 Appendix – Case Study #1 A-1 Summary of Case Study: This case study concerns determination of an optimum
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1 K&J BAKERY INC. A SIMPLIFIED MANAGEMENT ACCOUNTING PROJECT Raymond J Elson, DBA, CPA Associate Professor of Accounting Langdale College of Business Valdosta State University Valdosta, GA 31698 229-219-1214 (office) relson@valdosta.edu Stephen M. Rice, MAcc Langdale College of Business Valdosta State University Valdosta, GA 31698 smrice@valdosta.edu Tracey McGregor Graduate Student Langdale College of Business Valdosta State University Valdosta, GA 31698 smrice@valdosta.edu
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