CASE BETA COMPANY SYNOPSIS Beta Company produces two Product A and B and standard costs of each product were predetermined by management. During November actual production for Product A was 4,200 units while Product B was 3,600 units. For material X, 39,000 pounds were purchased at $14.40 and for material Y, 11,000 pounds were purchased at $9.70. Variance analysis for actual cost versus standard cost should be prepared for the said month to be able to measure results of operations, which may
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1. Question : (TCO A) Managerial accounting provides all of the following EXCEPT _____. Student Answer: future-oriented information a balance sheet prepared in accordance with GAAP internal reports that don't follow GAAP financial and nonfinancial reports on departments Instructor Explanation: Chapter 1, page 4 Points Received: 6 of 6 Comments: 2. Question : (TCO A) Borders Books is an example of a Student Answer: manufacturing-sector
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Managerial accounting is different from cost accounting in that it takes into account more than the cost of the perpetual inventory system; it also has to make decisions based on the needs of the whole company. Cost accounting deals with the process of tracking recording and analyzing costs that are associated with a company’s product or project. As an internal manager, they are the ones that normally use the cost accounting information. Direct costs, indirect costs and overhead costs are what
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5. Managerial Accounting 6. Managerial accounting 7. Financial Accounting 8. Feedback 9. Controller 10. Performance report E2-2 1. The cost of a hard-drive installed in a computer: direct materials cost. 2. The cost of advertising in the Puget Sound Computer User newspaper: marketing and selling cost. 3. The wages of employees who assemble computers from components: direct labor cost. 4. Sales commissions paid to the company’s salespeople: marketing and selling cost. 5. The wages
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Learning Team C Week 3 Case Study BYP 4-2 ACC349 April 4, 2011 Learning Team C Week 3 Case Study BYP 4-2 [pic] [pic] (a) |Activity cost pool |Estimated overhead |Cost drivers per activity |Total cost driver activity |Activity-based overhead rate | |Market analysis |$1,050,000 |Hours of analysis |15,000 hrs |$1,050,000 =$70 | | | |
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and/or hire/replace some employees for assistance with the consumers complaints. B. 6 types of cost Management Cost- Cost management is the process by which companies control and plan the costs of doing business. This can be translated as reducing costs of production for products or services, in addition to improving value being delivered to the customer. Manufacturing cost - Manufacturing costs flow through three basic responsibility centers: the raw materials storeroom, the factory, and the
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plants and three construction sites. The company has to figure out a way to satisfy the demands of the three construction sites using the cement it produces and transport the cement from its plants to the construction sites at the minimum transportation cost possible. The solution to the transportation problem was arrived at by solving the problem using the ‘Solver’ tool in Microsoft Excel. I would like to thanks Dr. Hitesh Arora for guiding me through with the course curriculum of Decision Making
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ACCT 222 ( Kelvin ) WENDY’S CHILLI 1. The cost of ground beef is a joint cost. The ground beef is made into beef patties which are used first for hamburger. However, the “well-done” beef patties that cannot be served as “hot ‘n juicy” old-fashioned hamburgers will be used to make chili. At this point, the ground beef patties used for hamburgers and the ground beef patties used to chili split off and become separately identifiable. 2. Hamburgers account for 55% of Wendy’s total sale, while
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mba Monterrey team (Maria, Rocio, calixto, hector, ernesto) subject: PRODUCT COST´S ANALYSIS date: [ 8/3/2012 ] cc: dr. Jeff Schatzberg Following-up the estimates cost, we got product costs using the overhead cost activity analysis, and the estimate costs are, Valves $ 37.70 per unit, Pump $ 48.79 per unit and Flow controllers $ 100.76 per unit. Comparing standard unit cost vs the costs estimated by overhead cost activity analysis, we found that it would be losses in flow controllers of $177
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traditional cost accounting methods are misleading where there is diversity in the no of products manufactured. The case highlights the importance of Process-Oriented Costing approach. The cost structure of the firm suggests that the production related and support related overheads form 33.0 and 26.0 percent of total costs. Since the firm manufactured almost 10,000 different types of motors, allocation of support related overhead costs can be crucial for the operation of the firm. Table 1. Cost of base
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