$250‚000 From this entry we can tell that CDE uses a. job-order costing. b. process costing. c. standard costing. d. any of the above. b 3. Which of the following is NOT relevant in determining weighted-average unit cost in process costing? a. Cost of beginning inventory. b. Equivalent unit production in beginning inventory. c. Equivalent unit production in ending inventory. d. Units completed. d 4. Standard process costing
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Tools Variance Analysis | | When actual material costs are different than total standard costs determine the cause. Variance Analysis | | When actual material costs are different than total standard costs determine the cause. Contribution Margin Analysis | Management has received a special order. How will profitability be impacted if the order is accepted? | Contribution Margin Analysis | Management has received a special order. How will profitability be impacted if
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sale to customers. 3 Product costs are those costs that change with changes in the level of product activity‚ over a defined period of time. 4 Product costs are overhead costs that are allocated over a number of products of the business for which costs are to be determined. 2 Which of the following describes a fixed cost? 1 any overhead cost incurred in the factory of a manufacturing company 2 any selling‚ general or administrative cost incurred in a manufacturing company 3 a total cost that remains
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Chapter 10 Standard Costs and the Balanced Scorecard Solutions to Questions 10-1 A quantity standard indicates how much of an input should be used to make a unit of output. A price standard indicates how much the input should cost. 10-2 Ideal standards assume perfection and do not allow for any inefficiency. Thus‚ ideal standards are rarely‚ if ever‚ attained. Practical standards can be attained by employees working at a reasonable‚ though efficient pace and allow for normal breaks
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direct materials‚ direct labor‚ and manufacturing overhead. 1-7 a. Direct materials are an integral part of a finished product and can be conveniently traced to it. b. Indirect materials are usually small items of material such as glue and nails. They may become an integral part of a finished product but are traceable to the product only at great cost or inconvenience. Indirect materials are ordinarily classified as part of manufacturing overhead. c. Direct labor includes those labor costs
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calculations required): a. Variable (per hour) Extras‚ Stage lighting b. Fixed Director costs/salary‚ equipment depreciation‚ royalties c. Mixed Actors‚ Supplies d. Step cost Food 2. The management has planned to film 800 hours and make 6 shows with an average of 3 actors and 2 extras for August 2009. Please calculate the cost of supplies‚ actors‚ and royalties for this month. (Hint: please use high-low method for mixed costs.) Supplies Cost formula of Supplies: August 2009 supplies cost = 1‚900 + 650
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determine whether the Super project was feasible‚ and would exist even if the project were deemed unfeasible. 1.ii. Overhead Expenses: Mr. Sanberg proposed to include these in the fully allocated method used in Alternative III. However‚ we believe that these expenses have already been attributed to the Jell-O line of products‚ and the data does not explicitly provide the overheads attributed to the Super project. Hence‚ these should not be considered while evaluating the project. 1.iii. Erosion
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costing is used mostly in companies when converting raw materials into homogenous products. A single product is produced on a continuous basis and all units of the product are identical. Costs are computed by department where the materials‚ labor‚ or overhead costs are added to the product in the processing department. Our two companies‚ The Hershey Company and Kaiser Aluminum‚ convert raw materials to their finished products of chocolate and aluminum. The Hershey Company’s main raw materials come from
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production is in the best interest of Dinky Company. Question 1: Calculate Dinky’s weighted average cost of capital using market weights for each financing component Due to the fact that Dinky Company is a levered firm‚ that is‚ financed by both debt and equity we must find the cost of financing for both the debt and the equity portions of the firm. The cost of capital is found by taking a weighted average of the cost of debt‚ and the cost of equity. In order to find the weights of the debt and
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BACKGROUND CMI has developed a new technology using curled metal to create pile driving pads. Compared to existing products on the market‚ these pad offer several benefits: • Faster pile driving saves contractors rental fees‚ labor expense ‚ and spreads overhead over more feet driven in a given period of time • Longer life of pads save contractors additional cost in reducing changeover time • Heat resistance further reduces changeover time‚ saving additional expenses • Safety – CMI pads do not expose
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