CH03 – A Production Department
Managerial Accounting
Wild and Shaw
07th Edition
Prepare the production department’s equivalent units of production.
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Prepare the production department’s equivalent units of production.
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Compute the number of equivalent units
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Given the company’s administrative costs for the month along with the amount of pianos sold and delivered … prepare both a traditional format income statement and a contribution format income statement.
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Given the labor hours, machines hours, variable overhead costs, and fixed costs… calculate the predetermined overhead rate, the total overhead, the total cost, and lastly the unit production cost.
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Given data at year-end along with beginning and ending account balances… prepare an income statement, cost of goods sold schedule, and cost of goods manufactured schedule.
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Given information about the costs and revenues of basketball production… use the information to calculate contribution margin ratio and break-even sales in multiple scenarios. They also ask you to prepare a contribution income statement.
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Given information regarding the pricing and advertising of a birdhouse… calculate CM ratio, break-even sales, income increases, operating leverage, and the amount that advertising can increase.
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Calculate Haas Company’s break-even point in unit sales and determine the unit product cost using variable costing and absorption costing for each of the company’s first three years of operations. Also, prepare income statements for Year 1, Year 2, and Year 3 using both costing methods.
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Compute the materials price, quantity variances, labor rate, efficiency variances, variable overhead rate, and efficiency variances.
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Calculate the payback period, net present value, internal rate of return, profitability index, and simple rate of return. Then find out which product is preferred, and which one should be accepted. Should Lou Barlow choose to manufacture and sell Product A or Product B for a five-year period, considering his annual pay raises are determined by his division’s return on investment? The cost and revenue estimates for each product are given, and the company’s discount rate is given. Calculate the payback period, net present value, and project profitability index for each product.
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