Cost Accounting I Practice Set Exam Phase 2

Cost Accounting I Practice Set Exam Phase 2 in $12 only

Cost Accounting I Practice Set Exam Phase #2
Points: 50
Due Date: At the start of Week 9, March 7, 2016 8:00 am
Please read all of the instructions carefully before completing the exam.
Part 1: The sales manager of Jorgensen Sales is considering expanding sales by producing three different versions of their product. Each will be targeted by the marketing department to different income levels and will be produced from three different qualities of materials. After reviewing the sales forecasts, the sales department feels that 70% of units sold will be the original product, 20% will be new model #1 and the remainder will be new model #2. The following information has been assembled by the sales department and the production department. The fixed costs associated with the manufacture of these three products are $250,000 per year.

Required:
(a) Determine the number of units of each product that would be sold at the break­even point.
(b) Determine the break­even point if the sales estimates are instead 50% original product, 30% model #1 and the remainder model #2.

Part 2: Cameron Company is interested in establishing the relationship between utility costs and machine hours. Data has been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:

Required:
a. Using Excel, perform a regression analysis on the above data and generate a summary output. (Follow the instructions in your text book on pages 181­185).
b. What is the equation for utility costs using the regression analysis?
c. Prepare an estimate of utility costs for a month when 3,000 machine hours are worked.

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ACC 310 Entire Course

ACC 310 Entire Course in $27 only (Instant Download)

ACC 310 Entire Course / Cost Accounting I

Following files are available with the answer:

  1. ACC 310 Week 1 DQ 1 Information for Decision Making and Cost Concepts and Behavior
  2. ACC 310 Week 1 DQ 2 Fundamentals of Cost-Volume-Profit Analysis
  3. ACC 310 Week 1 Assignment CVP Analysis and Price Changes
  4. ACC 310 Week 2 Assignment Special Orders
  5. ACC 310 Week 2 DQ 1 Fundamentals of Cost Accounting for Decision Making
  6. ACC 310 Week 2 DQ 2 Fundamentals of Product and Service Costing
  7. ACC 310 Week 3 Assignment Choosing an Activity- Based Costing System
  8. ACC 310 Week 3 DQ 1 Job and Process Costing
  9. ACC 310 Week 3 DQ 2 Activity Based Costing
  10. ACC 310 Week 4 Assignment Prepare Budgeted Financial Statements
  11. ACC 310 Week 4 DQ 1 Cost Management and Joint Allocation
  12. ACC 310 Week 4 DQ 2 Management Control Systems and Budgeting
  13. ACC 310 Week 5 Assignment Ethics and Standard Costs
  14. ACC 310 Week 5 Assignment Final Paper
  15. ACC 310 Week 5 DQ 1 Performance Measurement and Transfer Pricing
  16. ACC 310 Week 5 DQ 2 Fundamentals of Variance Analysis

Sample Answer of  Week 1 DQ 1 Information for Decision Making and Cost Concepts and Behavior:

1-18

Beige Computers operates retail stores in both downtown (City) and suburban (Mall) locations. The company has two responsibility centers: the City Division, which contains stores in downtown locations, and the Mall Division, which contains stores in suburban locations. Beige’s CEO is concerned about the profitability of the City Division, which has been operating at a loss for the last several years. The most recent income statement follows. The CEO has asked for your advice on shutting down the City Division’s operations. If the City Division is eliminated, corporate administration is not expected to change, nor are any other changes expected in the operations or costs of the Mall Division.

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Cost Accounting Problem 3-21 – Savallas Company

Cost Accounting Problem 3-21 – Savallas Company in $8 only

Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of computer-hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year:

Computer-hours 85,000
Fixed manufacturing overhead cost $ 1,275,000
Variable manufacturing overhead per computer-hour $ 3.00

Cost Accounting Questions Assignment

Cost Accounting Questions Assignment

First two questions use this:

Company produced 2100 units

Standard:

Material 2lbs per unit at 5.80 per lb

Labor 3 direct labor hours per unit at 10 per hour

Actual:

Material 4250lbs purchased and used at 5.65 per lb

Labor 6,600 direct labor hours at 9.75 per hours

1. What is the labor rate variance

A. 1650U

B. 1650F

C. 1575U

D. 1575F

2. What is the labor efficiency variance?

Nine Cost Accounting Questions

Nine Cost Accounting Questions in $14 only

First two questions use this

Company produced 2100 units

Standard:

Material 2lbs per unit at 5.80 per lb

Labor 3 direct labor hours per unit at 10 per hour

Actual:

Material 4250lbs purchased and used at 5.65 per lb

Labor 6,600 direct labor hours at 9.75 per hours

1. What is the labor rate variance

A. 1650U

B. 1650F

C. 1575U

D. 1575F

Groovy Music Company: Accept Special Order or Not

Groovy Music Company: Accept Special Order or Not

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Groovy Music Company: Accept Special Order or Not in $4.50 Only

Groovy Music Company produces compact discs of background music for restaurants and other retail shops. Its disc recording machines are capable of producing 50 discs per hour. The unit-related cost of producing the discs is $3.00. The discs sell for $12.00 each. Food Mood Music Co. has asked the company to produce 10,000 copies of a disc for $9.00. Groovy Music estimates that for this special order the unit-related cost of producing the disc will be $5.00 and that, due to the unique nature of the recording, its machines will only be able to produce 20 discs per hour. Groovy Music has a total of 5,000 machine hours of capacity. In addition, to accept the special order, Groovy Music will have to purchase an additional special-purpose machine that will cost $6,000.

Required:
1) Assume that demand for Groovy Music’s compact discs is 200,000 units and that the special order has to be either taken in full or rejected. Prepare an analysis that indicates whether or not the special order should be accepted.

2) Assume that Groovy Music is currently selling 230,000 compact discs to its regular customers and that the special order has to be either taken in full or rejected. Prepare a financial analysis that indicates whether or not the special order should be accepted.
3) Assume that demand for Groovy Music’s compact discs is 230,000 units and that the special order has to be either taken in full or rejected. Groovy Music’s wants the Food Mood Music job but doesn’t want to decrease its earnings. Prepare a financial analysis that indicates the price that Groovy Music must receive in order to break even on the special order.

ANSWERS AVAILABLE

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If you need any type of help regarding Homework, Assignments, Projects, Case study, Essay writing or anything else then just email us at [email protected]solvemyquestion.com.  We will get back to you ASAP. Do not forget to maintain the time frame you need you work to be done.