BUMT 3950: Managerial Accounting
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BUMT 3950: Managerial Accounting Name: Email Address: Date Submitted: Chapter 7 1.1 ANSWER(S) a Price variance 10 b Quantity variance 10 c Cost variance 10 1.2 WORKING NUMBERS Standard Standard Quantity Price Whole tomatoes 3,360 Lbs $0.50 per lb. Vinegar 220 gal 3.00 per gal. Corn syrup 20 gal 12.00 per gal. Salt 80 Lbs 3.00 per lb. The actual materials in a batch may vary from the standard due to tomato characteristics. Assume that the actual quantities of materials for batch P-69 were as follows: 3,556 lbs. of tomatoes 230 gal. of vinegar 18 gal of corn syrup 75 lb. of salt ANSWER(S) a Determine the standard unit materials cost per pound for a standard batch 15 b Determine the direct materials quantity variance for batch P-69 15 Chapter 9 2.1 WORKING NUMBERS Sales $ 290,000 Cost of goods sold $ 155,000 Gross proFt $ 135,000 Operating expenses $ 207,000 Loss from operations $ (72,000) ANSWER(S) a 40 Chapter 11 3.1 ANSWER(S) a Total number of budgeted direct labor hours for the year 15 b The single plantwide factory overhead rate 5 c 10 3.2 ANSWER(S) a 20 Chapter 12 4.1 ANSWER(S) a Compute the value-added of this process 15 b Compute the non-value added of this process 15 c Compute the total lead time of this process 15 d Compute the value-added ratio. Round to one decimal. 15 Chapter 14 5.1 A company reports the following WORKING NUMBERS Net Sales $ 1,200,000 Average accounts receivable (net) $ 100,000 ANSWER(S) a Determine accounts receivable turnover 10 b Determine the number of day's sales in receivables. Round to one decimal. 10 5.2 The following information was taken from DEMG's balance sheet: WORKING NUMBERS ±ixed assets (net) $ 1,800,000 Long-term liabilities $ 600,000 Total liabilities $ 900,000 Total stockholder's equity $ 750,000 ANSWER(S) a Determine the company's ratio of Fxed assets to long-term liabilities 10 b Determine the company's ratio of liabilities to stockholders' equity 10 250 TOTAL POINTS NOTE: Please Fll out all information below in the Feld entry boxes. When complete, select “SAVE AS” and name the Fle: Last name_Assessment #. Submit in the assignment tool in ±inal Examination Durfee Company produces a product that requires four standard gallons per unit. The standard price is $34 per gallon. If 3,500 units required 14,400 gallons, which were purchased at $33.25 per gallon, what is the direct materials: POINT VALUE La Tomatina uses standards to control its materials costs. Assume that a batch of ketchup (1,880 pounds) has the following standards: A condensed income statement by product for Bevandi Beverage Company indicated the following ±resh Cola for the past year: It is estimated that 15% of the cost of goods sold represents Fxed factory overhead costs and that 25% of the operating expenses are Fxed. Since ±resh Cola is only one of many products, the Fxed costs will not be materially a²ected if the product is discontinued. Prepare a di²erential analysis, dated January 21, 2014, to determine whether ±resh Cola should be continued (Alternative 1) or discontinued (Alternative 2). The total factory overhead for Dada Inc. is budgeted for the year at $225,000. Dada manufactures two types of men's pants: jeans and Khakis. The jeans and khakis each require 0.15 direct labor hour for manufacture. Each product is budgeted for 15,000 units of production for the year. Determine: The factory overhead allocated per unit for each product using the single plantwide factory overhead rate Carlton Peters Metal ±abrication Department incurred $420,000 of factory overhead cost in producing gears and sprockets. The two products consumed a total of 6,000 direct machine hours. Of that amount, sprockets consumed 3,200 direct machine hours. Determine the total amount of factory overhead that should be allocated to sprockets using machine hours as the allocation base. The Big Bear Ski Company manufactures skis in the Fnishing and assembly process. Skis are manufactured in 40-ski batch sizes. The Fnishing time is 16 minutes per ski. The assembly time is 12 minutes per ski. It takes 15 minutes to move a batch of skis from Fnishing to assembly.
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Posted 22 Dec 2017 06:12 AM
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