from cost of goods sold: 1‚800‚000 – 1‚080‚000= 720‚000 Operating expense (90‚000 fixed): Take the previous units operating expense and subtract from the 90‚000 fixed: 410‚000-90‚000= 320‚000 Take 320‚000 divide by number of units 80‚000= 4 Multiply 4 by 90‚000 units= 360‚000 Take 360‚000 + 90‚000= 450‚000 Operating income: Subtract gross profit on sales from operating expense: 720‚000- 450‚000= 270‚000 Income Taxes (30% of operating income): Take operating income times .30: 270‚000*
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Name of student:_________________ 9 Activity-Based Costing Review Question Answers 9-4 It will require more work. Significant amounts of indirect costs are allocated using only one or two cost pools. All or most costs are identified as output unit-level costs. Products make diverse demands on resources because of differences in volume‚ process steps‚ batch size‚ or complexity. Products that a company is well suited to make and sell show small profits while products for which a company is
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Springfield Express is a luxury passenger carrier in Texas. All seats are first class‚ and the following data are available: Number of seats per passenger train car 90 Average load factor (percentage of seats filled) 70% Average full passenger fare $ 160 Average variable cost per passenger $ 70 Fixed operating cost
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References: (please add your references and have your part cited correctly) Davis‚ T. R. V.‚ & Darling‚ B. L. (1996). ABC in a virtual corporation. Management Accounting‚ 78(4)‚ 18-18. Retrieved from http://search.proquest.com/docview/229765917?accountid=35812 Kimmel‚ P. D.‚ Weygandt‚ J. J.‚ & Kieso‚ D. E. (2009). Accounting Tools for Business Decision Making (3rd ed.). Hoboken‚ NJ: John Wiley & Sons Inc. BYP17-5 In
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2 What are the advantages and disadvantages of using the cost of each print as a manufacturing overhead cost driver? 3 Using the information on the next page‚ compute and interpret the predetermined manufacturing overhead rate for Wall Décor. 4 Compute the product cost for the following three items. (a) Lance Armstrong unframed print (base cost of print $12). (b) John Elway print in steel frame‚ no mat (base cost of print $16). (c) Lambeau Field print in wood frame with mat (base cost of
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ACC 444 Exam 1 Guide Summary of Questions (approximate): Topic # Multiple Choice Questions (2 pts each) Total Points Business Process Overview 9 Computer Fraud & Abuse 16 Internal Control Systems 25 Total # questions 50 100 Study Guide While there couldbe questions from other topics discussed in class‚ themain emphasis will be on the following subject matter: Business Process Overview The “transaction cycles” approach The data processing model Computer
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Name ________________ Section time _______________ ACC 321 – Quiz 1 PART I: Multiple choice‚ 3 points each. (Transfer your answers to the proper question on the answer sheet and fill in only one circle per question.) 1. Which of the following is NOT a major challenge facing the accounting profession? a. Non-GAAP earnings. b. Fair value measurement. c. Accounting for fixed assets. d. Forward-looking information. 2. The objective of financial reporting places most
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Pepsi ACC205: Principles of Accounting Instructor Susanne Eliott August 19‚ 2013 Pepsi PepsiCo Inc. is an American multinational food and beverage corporation headquartered in Purchase‚ New York. PepsiCo is a world leader in convenient snacks‚ foods‚ and beverages‚ with revenues of $60 billion and over 285‚000 employees. PepsiCo owns some of the world’s most popular brands‚ including Pepsi-Cola‚ Mountain Dew‚ Diet Pepsi‚ Lay’s‚ Doritos‚ Tropicana‚ Gatorade‚ and Quaker. Coca-Cola
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Guillermo Furniture‚ a company that manufactures midgrade and high-end sofas‚ has just hired you as an accountant. The owner‚ Guillermo Navallez‚ has assigned you the tasks of determining which decisions provide the greatest returns. Resources: Guillermo Furniture Scenario and Data Sheets Read the Guillermo Furniture Scenario and review the Guillermo Furniture Data Sheets on the student website. Enter your name in cell A3 of the Income Information tab in the Guillermo Furniture Data Sheets
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Accounting 306 Exam 1 Notes Full Disclosure Principle – Calls for financial reporting of any financial facts significant enough to influence the judgment of an informed reader. Illustration 24-1: Financial Statements – Balance Sheet‚ Income Statement‚ Statement of Cash flows‚ and statement of changes in stockholders’ equity. Notes to financial statements – Accounting policies‚ contingencies‚ inventory methods‚ number of shares of stock outstanding‚ alternative measures. Supplementary Information
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