1.Superior Industries' sales budget shows quarterly sales for the next year as follows: Company policy is to have a finished goods inventory at the end of each quarter equal to 20% of the next quarter's sales. Budgeted production for the second quarter should be: A. 7,200 units B. 8,000 units C. 8,800 units D. 8,400 units 2.Mouw Inc. bases its manufacturing overhead budget on budgeted direct labor-hours. The direct labor budget indicates that 5,400 direct labor-hours will be required in January. The variable overhead rate is $4.40 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $77,220 per month, which includes depreciation of $9,720. All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be: A. $67,500 B. $91,260 C. $100,980 D. $23,760 3. The manufacturing overhead budget at Formica Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 4,400 direct labor-hours will be required in October. The variable overhead rate is $8.90 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $86,680 per month, which includes depreciation of $16,280. All other fixed manufacturing overhead costs represent current cash flows. The company recomputes its predetermined overhead rate every month. The predetermined overhead rate for October should be: A. $19.70 B. $24.90 C. $8.90 D. $28.60 4.Portsche Snow Removal's cost formula for its vehicle operating cost is $2,310 per month plus $317 per snow-day. For the month of November, the company planned for activity of 18 snow-days, but the actual level of activity was 20 snow-days. The actual vehicle operating cost for the month was $8,730. The activity variance for vehicle operating cost in November would be closest to: A. $714 U B. $714 F C. $634 F D. $634 U Posson Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $210 per month plus $96 per job plus $20 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in March to be 20 jobs and 162 meals, but the actual activity was 17 jobs and 164 meals. The actual cost for catering supplies in March was $4,990. The spending variance for catering supplies in March would be closest to: A. $380 F B. $132 U C. $132 F D. $380 U 5.Under a standard cost system, the materials price variances are usually the responsibility of the: A. production manager. B. sales manager. C. purchasing manager. D. engineering manager. 6.The following materials standards have been established for a particular product: The following data pertain to operations concerning the product for the last month: What is the materials quantity variance for the month? A. $15,240 U B. $6,350 U C. $14,340 U D. $5,975 U 7.Discover Motor Company uses a standard cost system to collect costs related to the production of its toothpick motors. The direct labor standard for each toothpick motor is 1.25 hours at a standard cost of $9.50 per hour. During the month of May, Discover's toothpick motor production used 5,900 direct labor-hours at a total direct labor cost of $54,575. This resulted in production of 4,800 toothpick motors for May. What is Discover's labor efficiency variance for the month of May? A. $950 favorable B. $1,475 favorable C. $8,975 unfavorable D. $10,450 unfavorable 8.Vanikoro Corporation currently has two divisions which had the following operating results for last year: Since the Rubber Division sustained a loss, the president of Vanikoro is considering the elimination of this division. All of the fixed costs for the division could be eliminated if the division was dropped. If the Rubber Division was dropped at the beginning of last year, how much higher or lower would Vanikoro's total net operating income have been for the year? A. $10,000 higher B. $40,000 lower C. $50,000 higher D. $100,000 lower 9. Crick Corporation makes 11,000 units of part W28 each year. This part is used in one of the company's products. The company's Accounting Department reports the following costs of producing the part at this level of activity: An outside supplier has offered to make and sell the part to the company for $25.50 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company. If the outside supplier's offer were accepted, only $18,000 of these allocated general overhead costs would be avoided. In addition, the space used to produce part W28 would be used to make more of one of the company's other products, generating an additional segment margin of $12,000 per year for that product. What would be the impact on the company's overall net operating income of buying part W28 from the outside supplier? A. Net operating income would decline by $65,000 per year. B. Net operating income would increase by $5,800 per year. C. Net operating income would decline by $89,000 per year. D. Net operating income would increase by $12,000 per year.,Standard quantity per unit of output...5.1grams Standard Price.........................$11.95 per gram Actual Materials purchased.............6,800 grams Actual Cost of materials purchased....$86,360 Actual Materials used in production....6,300 grams Actual Output..........................1,000 grams This information is missing from one of the questions...,It would be #6,1. Total Sales: January= $60,000, February=$70,000, March=$50,000, April=$30,000 Cork Division Rubber Division 8. Sales.............................$600,000 $300,000 Variable Costs.....................310,000 200,000 Contribution Margin................290,000 100,000 Fixed Costs for the division.......110,000 60,000 Segment Margin.....................180,000 40,000 Allocated corporate fixed costs....100,000 50,000 Net operting income(loss)..........$80,000 $(10,000) 9. Direct Materials............................$6.00 (per unit) Direct Labor................................$5.40 Variable manufacturing overhead.............$7.70 Supervisor's salary.........................$4.20 Depreciation of special equipment...........$2.50 Allocated general overhead..................$6.70 This should be what you need. Sorry about that!,Thanks for the resonse, but I did post the needed info for 1,8, and 9 above?
Paper#4748 | Written in 18-Jul-2015Price : $25