areas….have fun! * Relevant range * Break-even point * Contribution margin * Process costing * Job costing * Calculate equivalent units * ABC systems * Direct‚ indirect‚ variable‚ fixed‚ prime‚ and conversion costs * CVP analysis Good luck! This is the REAL exam‚ so choose your time to enter carefully. The Midterm counts towards 19% of your grade. The questions are listed on multiple pages‚ so remember to click to the second page. Your time limit is 3.5 hours
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Bridgestone Behavioral Health Center: Cost-Volume-Profit (CVP) Analysis INTRODUCTION In June of the current year Dr. Thomas Russell‚ Executive Director‚ and Susan Smyth‚ Accountant‚ at the Bridgestone Behavioral Health Center were discussing the necessity of gaining a better understanding of how to monitor the Center’s operating and financial performance. Located in Cleveland‚ Ohio‚ Bridgestone provides prevention‚ intervention‚ and treatment services for individuals with substance abuse problems
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WHAT ARE COSTS AND PROFITS? HUNGRY HELEN’S COOKIE FACTORY • Helen‚ the owner of the cookie factory‚ buys flour‚ sugar‚ flavorings‚ and other cookie ingredients. • She also buys the mixers and the ovens and hires workers to run the equipment. • She then sells the resulting cookies to consumers. 2 TOTAL REVENUE‚ TOTAL COST‚ AND PROFIT • The amount that Helen receives for the sale of its output (cookies) is its total revenue. • The amount that the firm pays to buy inputs (flour‚ sugar‚ workers
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The cost profit analysis (CVP) determines how cost and volume affect a company’s operating income. To successfully perform the analysis the five basic components have to be known. The components are volume or level of activity‚ unit selling prices‚ variable cost per unit‚ total fixed cost‚ and sales mix. Volume or level of activity is how many units are produced or sold. The unit selling prices are the cost that each unit produced is sold or thought to be sold will sale for. The variable cost per
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CHAPTER 8 Cost-Volume-Profit Analysis ANSWERS TO REVIEW QUESTIONS 8-1 a. In the contribution-margin approach‚ the break-even point in units is calculated using the following formula: Break-even point = fixed expenses unit contribution margin b. In the equation approach‚ the following profit equation is used: sales volume ⎞ ⎛ unit variable sales volume ⎞ ⎛ unit fixed ⎜ ⎟ −⎜ ⎟ − ⎜ sales price × ⎟ ⎜ expense × ⎟ expenses = 0 in units ⎠ ⎝ in units ⎠ ⎝ This equation is solved for the sales volume in units
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OJINKEYA LAURETTA CHINYERE NO 2 ETUGBO LANE OFF LAYINKA STREET‚ APAPA‚ LAGOS STATE. E-MAIL: ojinkeyalauretta@yahoo.com PHONE NO: 08038244400 GOAL: To contribute to economic development through corporate and personal input that result to pragmatic and positive changes. OBJECTIVE: To make personal input through hard work and dedication. WORK EXPERERIENCE: STAFF IN AUDIT DEPARTMENT‚ UBTH. NOV. 2011 – OCT. 2012 UNIVERSITY OF BENIN TEACHING HOSPITAL‚ UGBOWO‚ EGOR LGA‚ EDO STATE NYSC CODE NUMBER: ED/11C/0805
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Philippines Analysis of Cost‚ Profit and Total Revenue Prepared by: Cajucom‚ Mary Jane Constantino‚ Georgia Escuadro‚ Abigail Ferry‚ Yasmin Joy Orobia‚ Maribel Lopez‚ Rannel Tumale‚ Mary Joyce Submitted to: Mrs. Gina Braga Accounting versus Economic Costs Economic costs Are forward looking costs‚ meaning‚ economist are in tune with future costs because these costs have major repercussions on the potential profitability of the firm. ● Opportunity cost‚ or costs that
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Costs associated with two alternatives‚ code-named Q and R‚ being considered by Lang Corporation are listed below: | | Alternative Q | Alternative R | Supplies costs | $ 64‚500 | $ 64‚500 | Power costs | $ 36‚500 | $ 21‚500 | Inspection costs | $ 11‚400 | $ 26‚300 | Assembly costs | $ 38‚600 | $ 28‚000 | | Required: | a. | Which costs are relevant and which are not relevant in the choice between these two alternatives? |
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Total costs of production (including a “normal” return on owners’ investment) per month are: C = 20‚000 + 50Q + 3Q2 a. Express total profits (() in terms of Q. b. At what level of output are total profits maximized? What price will be charged? What are total profits at this output level? c. What market structure did you assume? Why? d. Would your answers in b change if the market for sewing machines were competitive? How? (Specify price‚ quantity‚ and profit levels
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HR0371: Rewarding Relationships 1 January 2011 NEWCASTLE BUSINESS SCHOOL GROUP 1 Designing a Pay System for FastCat Designing a Pay System for FastCat Group 1(3) 2 Newcastle Business School Assessed work (Group Work) Tutor’s name: Level: Group no: Dr Nick Creaby-Attwood Module No: Module Title: 1 Group Mark: 70 Comments: Introduction and context Discussion of context is clear and provides an effective starting
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