Typical use of Managerial accounting, Business & Finance Homework Help

  

1. A Typical use of Managerial accounting is toA.Help investors and creditor assess the financial position of the companyB. Help management get a clean audit reportC. help the marketing manager decide which product promotion tio implementD. help the SEC decide whether management is in compliance of its policies2. Three cost incurred by Las company are summarized below                                                         1,000 units                     2,000 unitsCost A                                                $10.000                         $15,000Cost B                                                  $21,000                       $21,000Cost C                                                  $16,000                        $32,000Which of these costs are variablesA. a,b, and cB. A and BC. A onlyD. C only3.Johns’s warehouse has budget the following cost for the month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,720; depreciation, $740; and other fixed cost, $520. Each steak dinner sells for $14.00 each. How much would Todd’s profit increase if 10 more dinners were sold?4. Tim company produces door stoppers. July production costs are belowDoor stoppers produces        71,000Direct Material (variable)                               $20,000Direct Labor (variable)                                   $40,000Supplies (variable)                                          $20,000Supervision (fixed)                                         $27,600Depreciation (fixed)                                         $20,100Others ( fixed)                                                 $5,300In August, Tim expects to produce 100,000 door stoppers. Assuming no structural changes, what is Tim’s production cost per door stoppers for August?5.  John’s chairs in the process of preparing a production cost budget for august. Actual cost in July for 120 chairs were:Material cost            $4,870Labor cost               $2,870Rent                          $1,500Depreciation             $2,500Other fixed Cost       $3,200Material and labor are the only variable costs. If productions and sales is budgeted to change to 130 chairs in August, how much is the expected total variable cost on the August budget?6. Beet plans to sell 1,300 carriers next year and has budgeted sales for $46,000 and profit of $22,000. Variable cost are projected to be $20 per Unit. Leet offers to pay $24,400 to buy 540 units from Beet. Total fixed costs are $7,000 per year. This offer does not affect Beet other planned operations. the incremental revenue for this situation are?7. Stellars co has the following sales, variable cost and fixed cost. If sales increase by $10,000 then their profit increase/decrease by how much?Sales                      $50,000Variable cost           $8,800Fixed costs             $28,0008. Tim is trying to decide whether or not to attend college during the next 12 week session. He has the following options1. attend college full time at a cost of $1,2002. Attend college part-time at a cost of $500 and work part-time earning ,0003. Work full-time earning ,900What is Tim’s incremental profit if he chooses option 3 over option 2?9. Total cost were $75,600 when 25,000 units were produced and $94,000 when 39,000 units were produced. Use the high-low method to find the estimate total cost for the production leve of 32,000 units10, Professional university teaches a large range of undergraduate courses. it is interested in determining the cost equation for the facilities cost as a function of student credit hours so that it can more accurately budget its facilities cost as enrollment grows. Information for the high and low cost semesters and volumes for the last 5 years appears  belowSemester            Semester Credit hours            Facilities CostSpring 2007                 250,000                               $500,000 Fall 2004                      300,000                              $530,000Using the high low method, with student credit hours as the activity driver, what is the equation for facilities cost (FC) as a function of student credit hours?A. FC = $350,000 + $0.60/ student credit hoursB. FC = $585,100+ $1.67/ student credit hoursC. FC = $1.77 / Student credit hoursD. FC = $2 / Student credit hour11. Randy’s tirland makes a product that sells for $61 per unit and has $40 per unit variable costs. Annually fixed cost are $24,000. If Rambles sells 10 units less than breakeven, how much loss would the comp[any recognize on its income statement? (as the question asks “how much loss” you don’t have to put the negative sign. For example, suppose the loss is 100, then write the answer as 100 rather than -100)12. Ritz furniture has a contribution margin ratio of 0.15. If fixed costs are $161,800. how many dollars of the revenue must the company generate in order to reach the break- even point?13. U.S telephone cellular sells phones for $100. The unit variable cost per phone is $50 plus a selling commission of 10% (based on the unit sales price per phone). Fixed manufacturing cost total $1,250 per month, while fixed selling and administrative costs total $2,470. How many phones must be sold to achieve the breakeven point?14. Slim is a swimsuit manufacturer. They sell swim suit at a selling price is $30 per unit. Slim variable costs are $18 per unit. Fixed cost are $75,200. Slim expects sales of $280,300 next year. What is slim margin of saftey (in Dollars)?15. Lambardi co sells 3 types of bags. Bag A sells for $20 and has variable cost of $9.00 per unit. Bag B sells for $14 and has variable cost of $12 per unit. Bag C sells for $9 and has variable costs of $6 perunit. Lambardi sells in a mix of 2 units for A, 3 units of B and 5 units for C. What is the weighted average contribution margin per unit for Lambardi?16. Product A has a contribution margin per unit of $500 and required 2 hours of machine time. Product B has a contribution margin per unit of $1,000 and requires 5 hours of machine time. How much of each products should be produced given there are 100 hours of available machine time?A.  50 units of A and 25 units of BB. 25 units of BC. 50 units of AD. None of the above17. Delfi Company produces two models of seats, Toro and prep. Information regarding these products for May follows                                                                            TORO                        PREPNumber of units                                            3,000                               7,000Sales Revenue                                              $120,000                          $140,000Varable Costs                                                  60,000                            42,000Fixed Costs                                                       24,000                           50,000Net income                                                          36,000                           48,000Poundsof plastic to produce 1 bucket                    4.0                               1.6Contribution margin per unit                                     $20                                  $14Due to the increase demand of plastic in the market, Delfi company can obtain only 9,000 pounds of plastic per month. Delfi can sell as many seats as it can produce of either model. How many of each model should Delfi produce to maximize profits in May considering the Constraint.A, Toro: 0; prop: 4,375B. Toro: 2,250: Prep: 0C. Toro: 1,125; Prep: 2,812D. Toro: 0: Prep: 5,62518. John Corp uses activity based costing system with three activities cost pools. The following information is providedCosts: Wages and Salaries $    208,000Depreciation                                119,000Utilities                                         115,000Total                                            $440,000Activity Cost Pools                                                      Assembly              Setting Up             OtherWages and Salaries                         0.053                       30%                     10%Depreciation                                      0.34                          45%                     20%Utilities                                               0.24                          40%                      30%How much total cost would bve allocated to the assembly activity cost pool?

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