Description of this paper

Managerial accounting how is the cost per equi...

Description

Solution


Question

Managerial accounting how is the cost per equivalent unit calculated when using the First in-First out method? What formula is used? what is the journal entry to record raw material that is brought into the processing department? What is debited? What is credited? Quality Reporting (Chapter 2 Appendix 2B) . What are the costs of quality? Give a brief description of each. . What is a Quality Cost Report? What are three uses for the report? Transfer Pricing . Explain the three methods used to determine transfer pricing. Which method is preferred, if any? Job Order Costing (Chapter 3) Cost Flow in Job Order Costing . How do direct costs flow through a job-order costing system? . In what type of situations would job-order costing be appropriate to use? Estimating and Correcting Overhead Costs . What is the formula to calculate overhead rate? . How are overhead costs applied in a job-order costing system? . What are the alternative methods for disposing of applied overhead balances? Process Costing (Chapter 4) Process Costing - Equivalent units . How do materials costs and conversion costs flow through a process costing system? . How is the cost per equivalent unit calculated when using the weighted-average method? The Production Report . How is total cost accounted for on a production report when using the weighted-average method? . How is the cost per equivalent unit calculated when using the First in-First out method? Cost-Volume-Profit (Chapter 5 and 6) . How do you compute the break-even point? . How do you compute the contribution margin? . How do you determine the margin of safety and what is its significance? Variable and Absorption Costing (Chapter 7) Net Income Effects and Reporting Choice . What is the effect of variable costing on net income? . What is the effect of absorption costing on net income? . What is the difference in net income calculated under absorption costing versus net income calculated under variable costing? . What are the advantages and disadvantages of variable costing? . What are the advantages and disadvantages of absorption costing? Activity-Based Costing (Chapter 8) ABC and Allocating Costs . What are the correct criteria to use when assigning overhead costs to products? (Note: Consider both manufacturing and non-manufacturing costs.) . How does recording idle capacity cost in an activity-based costing system differ from recording idle capacity cost in a traditional cost system? . What are first-stage and second-stage allocations in activity-based costing systems? Developing Budgets (Chapter 10) Flexible Budgeting . What are the benefits and limitations of a flexible budget system? Variances (Chapter 11) Reporting Variances from Standards . What are direct materials standards? . What are direct labor standards? . How are direct materials variances computed (Address price and quantity variances) . How are direct labor variances computed? (Address rate and efficiency variances) . How are variable manufacturing overhead variances computed? (Address spending and efficiency variances) . What criteria are used to decide whether a variance is favorable or unfavorable? . What are possible causes of each type of favorable and unfavorable variances? Management Tools and Data (Chapter 12) Cost Centers and Reportable Segments . What is the type of cost center that is applicable to a company segment? . What is the formula to calculate return on investment and economic value added? Cost/Benefit Analysis (Chapter 13) Differential and Cost/Benefit Analysis . What is marginal cost? . What is sunk cost? . What is opportunity cost? . What is the impact of marginal costs, sunk costs, and opportunity costs on decisions? . What are the relevant costs and benefits that should be considered when deciding whether to drop or add a product line or department? . What costs and benefits should be considered when deciding whether to accept or reject a special order? . What costs and benefits should be considered when deciding whether to make or buy? . What costs and benefits should be considered when deciding whether to sell joint products at the split-off point or to process them further?,I think I was suppose to reply to this immediately, were you able to work on it at all?,Thank you

 

Paper#11127 | Written in 18-Jul-2015

Price : $25
SiteLock