Chapters 9 & 10 Standard Costing‚ Variance Analysis and Flexible Budgets This is a copyright presentation of Darlene B. Serrato and is presented exclusively for the use and benefit of students enrolled in Accounting 2303. Any other use is prohibited. All rights reserved. This presentation may not be copied‚ reproduced or transferred in or by any media without the express written permission of the author. STANDARD – is the budgeted cost for one unit of product. The beginning point in standard
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term manufacturing overhead? | A) | Factory overhead | B) | Pervasive costs | C) | Burden | D) | Indirect manufacturing costs | 2. | Which one of the following is an example of a period cost? | A) | A change in benefits for the union workers who work in the New York plant of a Fortune 1000 manufacturer. | B) | Workers’ compensation insurance on factory workers’ wages allocated to the factory. | C) | A box cost associated with computers. | D) | A manager’s salary for work that is
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CHAPTER 3 Predetermined Overhead Rates‚ Flexible Budgets‚ and Absorption/Variable Costing Questions 1. Although both variable and mixed costs change in total with activity measure changes‚ the difference is that variable costs change in direct proportion to such activity changes and mixed costs do not. Since a mixed cost has both a fixed and variable component‚ the cost per unit at different activity levels is not constant as it is with a variable cost. 2. No‚ these are not always the best points
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Question 1 1. Mrs. Granberry is going to sell Christmas tree lights for $20 a box. The lights cost Marsha $5 a unit and any unsold lights can be returned for a full refund. She is planning to rent a booth at the upcoming Happy Holidays Convention‚ which offers three options: 1. paying a fixed fee of $1‚500‚ or 2. paying a $500 fee plus 10% of revenues made at the convention‚ or 3. paying 25% of revenues made at the convention.Which of the following statements is FALSE? Answer | | One
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CHAPTER 12 PRICING DECISIONS AND COST MANAGEMENT 12-1 The three major influences on pricing decisions are 1. Customers 2. Competitors 3. Costs 12-2 Not necessarily. For a one-time-only special order‚ the relevant costs are only those costs that will change as a result of accepting the order. In this case‚ full product costs will rarely be relevant. It is more likely that full product costs will be relevant costs for long-run pricing decisions. 12-3 Two examples of pricing decisions with
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Agri-environment contract adoption under fixed and variable compliance costs. This report looks at the agri-environment contract adpted by farmers’ to be able to contribute and partake in the enrivonmental schemes through pressure groups and government. It provides disctinct description to the differences in fixed and variable costs. The purpose of explaining the differences were to illustrate how farmers partaking to the project would be different than how much land will be needed to chip in the
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Central Artery / Tunnel (CA/T) Project • What do you think was the problem with the Central Artery/Tunnel (CA/T) project? • Explain how effective cost and value management would have helped in the successful completion of the project. The Central Artery / Tunnel Project‚ is the largest Highway project ever undertaken in the History of the United States. After nearly 3 decades since the projects inception it is still considered a wonder of technology and advancement in the US
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Jump to Navigation Frame Your location: Assessments › View All Submissions › View Attempt View Attempt 1 of 2 Title: | Exam 2 (Chapters 10-18) | Started: | July 7‚ 2011 12:16 AM | Submitted: | July 7‚ 2011 2:11 AM | Time spent: | 01:54:47 | Total score: | 94/200 = 47% Total score adjusted by 0.0 Maximum possible score: 200 | 1. | Chapter 10 #265 | | Use this information for questions that refer to the World Tennis Ball (WTB) Company case. World Tennis Ball Co. (WTB) makes
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considerations are measurement issues. Financial measures‚ in particular‚ cost measures‚ are needed to evaluate alternate strategies on whether to introduce a new product or service line‚ to determine the appropriate sale price and the consequent market position for the firm’s product. Question 1) “Contribution” represents the portion of sales revenue that is not consumed by variable costs and so contributes to the coverage of fixed costs. To compute profit contribution that can be earned by carrying 1
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M3.27 Working With Costs and Budgets Explain the Importance of agreeing a budget and operating within it: A budget plan is the most effective way to keep the business and its finances on track. It gives you the opportunity to review the business’ performance and any factors that are affecting or may affect your business. Also to manage your money more effectively‚ allocate appropriate resources‚ monitor performance‚ meet planned objectives and plan for the future. To be most effective this
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