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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 14 Jun 2017 My Price 12.00

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Project 3 Academic Honesty Policy Please make sure you read the academic honesty policy, since I want to make sure everyone realizes that they should not be discussing this exam outside the discussion board. This is an individual assignment and should be completed by each student on their own. I realize some of you maybe best friends or relatives, but this is an individual assignment and you should not be working as a team. Type in your name here: Worth 10 pts. You will be graded on the accuracy of your answer and usage of cell referencing in the DATA area. Covers material in chapters 7 and 8. DATA ABC, Inc. is a newly organized manufacturing business this year. The following company's costs and expenses are: Sales price per unit Manufacturing costs: Fixed Costs Variable Costs Direct materials Direct labor Variable Manufacturing overhead Fixed Manufacturing overhead Period expenses: Variable Selling and administrative expenses Fixed Selling and Administrative expenses Totals Units produced units Units sold Required: Use the information in the DATA field above using cell referencing to answer the following requirements. 1. Calculate the unit cost for variable costing. Review Exhibit 8-2 on page 328. 2. Calculate the unit cost for absorption costing. Review Exhibit 8-2 on page 328. 3. Prepare an absorption-costing income statement. Review Exhibit 8-3 on page 329. 4. Prepare a variable-costing income statement. Review Exhibit 8-3 on page 329. 5. Reconcile the differences in income that you calculated in #3 and #4 using exhibit 8-4 on page 330 as your guide or use the shortcut reconciliation on page 330-331. 6. Calculate the breakeven point in units. Reference page 279. 7. Calculate the breakeven point in sales dollars. 8. Calculate the safety margin. 10. Calculate the operating leverage . Reference page 296 11. What if sales volume increases by 5% how much will income increase in percentage terms? Make sure you...

Type in your name here:   Worth 10 pts.           Grading Rubric:      
Project 3  is due by Tuesday, October 16th.  Send via the assignment area and make sure you save your file with first initial of first name and last name. Requirement Points      
You will be graded on the accuracy of your answer and usage of cell referencing in the DATA area. Covers material in chapters 7 and 8.     1 0.5      
                    2 1      
DATA                   3 1      
ABC, Inc. is a newly organized manufacturing business this year.             4 1      
The following company's costs and expenses are:             5 1      
                    6 1      
  Sales price per unit $80             7 0.5      
  Manufacturing costs:   Fixed Costs Variable Costs     8 0.5      
      Direct materials     $8       9 0.5      
      Direct labor     10       10 0.5      
      Variable Manufacturing overhead     4       11 0.5      
      Fixed Manufacturing overhead   $120,000         12 1      
    Period expenses:             13 1      
      Variable Selling and administrative expenses   6       Total pts.
Possible		 10      
      Fixed Selling and Administrative expenses 10,000                  
    Totals     $130,000 $28                
  Units produced 6,000 units                    
  Units sold 5,900 units                    
                             
                             
Required: Use the information in the DATA field above using cell referencing to answer the following requirements.                  
1.  Calculate the unit cost for variable costing.  Review Exhibit 8-2 on page 328.                    
2.  Calculate the unit cost for absorption costing.  Review Exhibit 8-2 on page 328.                    
3.  Prepare an absorption-costing income statement.  Review Exhibit 8-3 on page 329.                    
4.  Prepare a variable-costing income statement. Review Exhibit 8-3 on page 329.                    
5.  Reconcile the differences in income that you calculated in #3 and #4 using exhibit 8-4 on page 330 as your guide or use the shortcut reconciliation on page 330-331.          
6.  Calculate the breakeven point in units.  Reference page 279.                      
7.  Calculate the breakeven point in sales dollars.                      
8.  Calculate the safety margin.                        
 9.  What does the margin of safety mean? Reference page 285.  Your answer should be at least 75 words.                    
10.  Calculate the operating leverage .  Reference page 296                      
11.  What if sales volume increases by 5% how much will income increase in percentage terms?  Make sure you have read over the DOL discussion and            
understand the multiplier impact of changes in sales volume that occurs based on DOL.                    
12.  What if the direct material  cost per unit increases from $8 a unit to $10, what will be the new breakeven in units?  Explain why it changed.              
You should only have to change the direct labor in the data area and actually all your answers should be updated.  Please put the direct material cost back to the original number once you have answered the question?  
13.  What if the manufacturing overhead cost decreases from 120,000 to 115,000, what will be the new breakeven in units?  Explain why it changed.              
You should only have to change the fixed MOH in the data area and actually all your answers should be updated.  Please put the fixed MOH cost back to the original number once you have answered the question?  
                             
Solution:                            
1.       2.                    
    Variable costing   Absorption Costing                  
Direct materials                          
Direct labor                            
Variable overhead                          
Fixed overhead                          
Total per unit cost                          
                             
                             
3.     ABC Company Inc.                      
      Absorption Costing Income statement                      
                             
Sales revenue                            
Less: Cost of goods sold                          
Gross Margin                            
Less:  Selling and administrative expenses                      
Variable                            
Fixed                            
Net income                            
                             
                             
4.     ABC Company Inc.                      
      Variable Costing Income statement                      
                             
Sales Revenue                          
Less: Variable Expenses:                          
  Variable manufacturing costs                      
  Variable Selling and administrative costs                      
Contribution margin                          
Less: Fixed Expenses:                          
  Fixed manufacturing overhead                      
  Fixed selling and Administrative expenses                      
Net income                            
5. I am using a modification of the short cut method on page 331 as my model.                    
Change in inventory:                          
Units produced                          
Units sold                            
Increase in inventory                          
Fixed overhead rate                          
Difference in fixed overhead expensed                        
                             
Net income:                            
Absorption costing                          
Variable costing                          
Difference                            
                             
6.  Break even in units                        
  Units                          
                             
7. Break even in sales $                      
                             
                             
                             
8.  Safety Margin   On page 297 I realize the author uses budgeted sales revenue in the margin of safety calculation, but if you are      
        given the actual sales revenue you can replace budgeted sales with actual sales, which you should do for #8.       
                             
 9.  What does the margin of safety mean?  Be very explicit in your answer, so I know you understand this concept and the importance of it to managers.            
                             
                             
                             
 10.  Calculate the operating leverage .  Reference page 296                      
                             
                             
11.  What if sales volume increases by 5% how much will income increase in percentage terms?  Make sure you have read over the Operating leverage discussion and          
understand the multiplier impact of changes in sales volume that occurs based on operating leverage.                    
                             
                             
12.  What if the direct material  cost per unit increases from $8 a unit to $10, what will be the new breakeven in units?  Explain why it changed.              
You should only have to change the direct labor in the data area and actually all your answers should be updated.  Please put the direct material cost back to the original number once you have answered the question?  
                             
                             
                             
13.  What if the manufacturing overhead cost decreases from 120,000 to 115,000, what will be the new breakeven in units?  Explain why it changed.              
You should only have to change the fixed MOH in the data area and actually all your answers should be updated.  Please put the fixed MOH cost back to the original number once you have answered the question?  
                             

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Maurice Tutor
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Status NEW Posted 14 Jun 2017 09:06 PM My Price 12.00

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