Required information
[The following information applies to the questions displayed below.]
Craft Pro Machining produces machine tools for the construction industry. The following details about overhead costs were taken from its company records.
Production ActivityIndirect Labor Indirect Materials Other OverheadGrinding$350,000 Polishing $215,000 Product modification 400,000 Providing power $220,000 System calibration 540,000
Additional information on the drivers for its production activities follows.
Grinding15,000machine hoursPolishing15,000machine hoursProduct modification1,900engineering hoursProviding power13,000direct labor hoursSystem calibration1,050batches
Job 3175Job 4286Number of units220units2,750unitsMachine hours300MH3,000MHEngineering hours29eng. hours24eng. hoursBatches35batches105batchesDirect labor hours420DLH3,780DLH
2, 3 & 4. Compute the activity overhead rates using ABC. Combine the grinding and polishing activities into a single cost pool. Determine overhead costs to assign to the following jobs using ABC. What is the overhead cost per unit for Job 3175? What is the overhead cost per unit for Job 4286? (Round your activity rate and average overhead cost per unit to 2 decimal places. Round “overhead assigned” to the nearest whole dollar.)
Job 3175Job 4286ActivityOverhead CostActivity DriversActivity RateActivity driver incurredOverheadActivity driverOverheadassignedincurredassignedGrinding & PolishingMachine hoursProduct modificationEngineering hrsProviding powerDirect labor hrs .System calibrationbatches
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Joan Buys Gasoline And Food When The Price Of Gasoline Is 1 00 Per Gallon She Bu
/in Uncategorized /by developer3. Joan buys gasoline and food. When the price of gasoline is $1.00 per gallon, she
buys 50 gallons per week and spends $50 on food per week. the government want to
reduce consumption of gasoline as part of an environmental policy and is considering two
alternatives. They are: (1) restrict the number of gallons of gasoline anyone can buy to
40 gallons per week, and (2) Raise the price of gasoline to $1.25 per gallon. Assume for
simplicity that food always costs $1 per unit.
(a) Show on a graph Joan’s initial budget line and the budget lines under policy (1)
and policy (2).
(b) Suppose that Joan’s most preferred market basket under policy (2) is to consume
40 gallons per week. Show this on the consumption diagram. Would Joan be better o
under policy (1) or (2)?
(c) If Joan’s preferred market basket under policy (2) is to consume 70 gallons per
week, would your answer to (b) change?
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Joan Has Been A Manager With Argos For The Past 15 Years She Is Known To Be Aggr
/in Uncategorized /by developerJoan has been a manager with Argos for the past 15 years. She is known to be aggressive and tough and always gets results. She is demanding of her employees and is often brusque with them. Last Thursday, she passed James in the hall and remarked that he looked good in his new gray suit. James filed a sexual harassment lawsuit naming Argos and Joan. Which of the following statements is most correct?a) James has no chance of winning, based on the facts presented. Joan was simply trying to make a positive comment and ‘ease’ her tough demeanor.b) James could win the suit if he provided information that showed that Joan had never made such comments to anyone before and had made them to him before.c) James could win if Joan had winked at him when she made the comment.d) James can win if he can show that he and Joan had had a relationship in the past.e) He can win, but only if Joan has implied that she wants him to have sex with her and offers a promotion if he will.f) James can win if he shows that Joan makes such comments to him alone, although he has said that he does not feel comfortable with such comments.RationaleInclude your rationale essay here. (Please cite references to support your answer.)
Solution a) James has no chance of winning, based on the facts presented. Joan was simply trying to makea positive comment and ‘ease’ her tough demeanor.There has been no instance of a sexual…
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Joan Hill President Of Hill Hill Pens Was Looking Forward To Receiving The Compa
/in Uncategorized /by developerproduction
20,000
20,000
20,000
20,000
Actual production
20,000
14,000
–
–
The company’s plant is heavily automated, so fixed manufacturing overhead costs total $800,000 per quarter. Variable manufacturing costs are $30 per unit. The fixed manufacturing overhead cost is applied to units at the rate of $40 per unit (based on the budgeted production shown above → $800,000/20,000 units = $40 per unit). Any Production Volume Variance is closed directly to COGS for the quarter.
The company had 3,000 units in inventory at the start of the first quarter. Variable selling and administrative expenses are $5 per unit.
Required:
Prepare a variable cost (contribution format) income statement for the first two quarters. (worth 40%)Explain why the operating incomes are different. (worth 20%)
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Joan Is On Summer Break And Spends Most Of Her Time Either Playing Video Games O
/in Uncategorized /by developerJoan is on summer break and spends most of her time either playing video games
or browsing the internet. Her utility function is U(q1; q2) = 3q0:2
1 q0:8
2 , where q1 represents the
hours spent browsing the internet and q2 hours playing video games. Joan does not have a budget
constraint but she has 15 hours to spend on both activities.
(a) (5 points) Write the equation for one of Joan’s indifference curves when the level of utility is
equal to 100.
(b) (5 points) Write Joan’s time constraint.
(c) (10 points) Find the amount of hours that Joan will spend on each activity that maximizes her
utility and satisfies her time constraint. Use either the substitution or Lagrangian method.
(d) (5 points) Can Joan afford any bundle that yields a utility of 50? Explain.
(e) (5 points) How does Joan’s optimum amount of time spent on each activity change if her
utility function is U(q1; q2) = 5ln(3) + ln(q1) + 4ln(q2)?
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Joan Of Arc Joan S Mission What Is Joan S Story How Did A Teenage Girl Become A
/in Uncategorized /by developerJOAN OF ARC: Joan’s Mission
What is Joan’s story? How did a teenage girl become a hero that is still revered centuries later?did Joan of Arc actually live? How is she viewed today by the French people and by Catholics worldwide?
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Joan Salmon Is The 35 Year Old Daughter Of Garret Salmon The Owner Of A Medium S
/in Uncategorized /by developerJoan Salmon is the 35 year old daughter of Garret Salmon the owner of a medium sized party invitation company “Invitations Inc.” Joan has recently received a degree from UMUC in Business Management and is anxious to take over her father’s company. She is a single mother, very attractive but a little retiring in her manner. She and her father have been planning her take over for several years, ever since her ex-husband left the business after their divorce, an event that did not go unnoticed within the company. Joan has always worked in some capacity within the company but never in a serious leadership role. She is simply known as the “boss’ daughter”. Joan and her father have agreed that she will take over as CEO in the next two months. No one knows of this decision.
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Joanne Is A Seventy Five Year Old Widow Who Survives On Her Husband S Small Pens
/in Uncategorized /by developerJoanne is a seventy-five-year-old widow who survives on her husband’s small pension. Joanne has become increasingly forgetful, and her family worries that she may have Alzheimer’s disease (a brain disorder that seri- ously affects a person’s ability to carry out daily activities). No physician has diagnosed her, however, and no court has ruled on Joanne’s legal competence. One day while out shopping, Joanne stops by a store that is having a sale on pianos and enters into a fifteen-year installment contract to buy a grand piano. When the piano arrives the next day, Joanne seems confused and repeatedly asks the deliveryperson why a piano is being delivered. Joanne claims that she does not recall buy- ing a piano. Explain whether this contract is void, voidable, or valid. Can Joanne avoid her contractual obligation to buy the piano? If so, how?
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Job 218 Was One Of The Many Jobs Started And Completed During The Year The Job R
/in Uncategorized /by developerJob 218 was one of the many jobs started and completed during the year. The job required $4,000 in direct materials and 400 hours of direct labor time at a rate of $13 per hour. If the job contained 560 units and the company billed at 65% above the unit product cost on the job cost sheet, what price per unit would have been charged to the customer? (Round your answer to 2 decimal places. Omit the “$” sign in your response.)
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Job 305 Was Budgeted To Require 3 5 Hours Of Labor At 11 00 Per Hour However It
/in Uncategorized /by developer6. Job #305 was budgeted to require 3.5 hours of labor at $11.00 per hour. However, it was completed in 3 hours by a person who worked for $14.00 per hour. What is the total labor cost variance for Job #305?
Job #305 was budgeted to require 3.5 hours of labor at $11.00 per hour. However, it wascompleted in 3 hours by a person who worked for $14.00 per hour. What is the total labor costvariance for…
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Job 3175 Job 4286 Activity Overhead Cost Activity Drivers Activity Rate Activity
/in Uncategorized /by developerRequired information
[The following information applies to the questions displayed below.]
Craft Pro Machining produces machine tools for the construction industry. The following details about overhead costs were taken from its company records.
Production ActivityIndirect Labor Indirect Materials Other OverheadGrinding$350,000 Polishing $215,000 Product modification 400,000 Providing power $220,000 System calibration 540,000
Additional information on the drivers for its production activities follows.
Grinding15,000machine hoursPolishing15,000machine hoursProduct modification1,900engineering hoursProviding power13,000direct labor hoursSystem calibration1,050batches
Job 3175Job 4286Number of units220units2,750unitsMachine hours300MH3,000MHEngineering hours29eng. hours24eng. hoursBatches35batches105batchesDirect labor hours420DLH3,780DLH
2, 3 & 4. Compute the activity overhead rates using ABC. Combine the grinding and polishing activities into a single cost pool. Determine overhead costs to assign to the following jobs using ABC. What is the overhead cost per unit for Job 3175? What is the overhead cost per unit for Job 4286? (Round your activity rate and average overhead cost per unit to 2 decimal places. Round “overhead assigned” to the nearest whole dollar.)
Job 3175Job 4286ActivityOverhead CostActivity DriversActivity RateActivity driver incurredOverheadActivity driverOverheadassignedincurredassignedGrinding & PolishingMachine hoursProduct modificationEngineering hrsProviding powerDirect labor hrs .System calibrationbatches
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