Knowledge processes can be diverse. Employees enter the workplace with many assets that can benefit the company’s existing workforce.

Describe some of the ‘best practices’ that could be adopted by a company to enable its employees to assist the company in its quest to thrive in today’s competitive marketplace.

Knowledge processes can be diverseAdvancing work environment assorted qualities has numerous main concern advantages.However, you have to approach the procuring procedure comprehensively —…

 

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Kody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production 157,000; Fixed manufacturing overhead cost 660,000; Variable manufacturing overhead cost per machine-hour 4.30. During the year the company worked a total of 145,900 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,242,650. What is the amount of underapplied or overapplied overhead for the year?

 

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Kohlberg’s developmental theory of moral development posits three levels and six stages. Other psychologists have different theories on how people develop morally. How do you think children and adolescents learn right from wrong? Why do you think people don’t act morally even though they know the difference between right and wrong?

 

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Konrad, Inc. is considering a new project whose data are shown below. The required equipment has a 3-year tax life and it will be depreciated by the straight-line method over 3 years. Revenues and other operating costs are expected to be constant over the project’s 3-year life. What is the project’s Year 1 cash flow?

Annual sales revenues$180,000Annual operating costs, excluding depreciation$85,000Equipment Cost (depreciable basis)$120,000Years straight-line depreciation3Tax rate30%

RevenueCostDepreciationOperating IncomeLess: TaxNet Operating IncomeAdd: DepreciationCash Flow Year 118000085000400005500016500385004000078500

 

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Koontz Company manufactures two models of industrial components—a Basic model and an Advanced Model. The company considers all of its manufacturing overhead costs to be fixed and it uses plantwide manufacturing overhead cost allocation based on direct labor-hours. Koontz’s controller prepared the segmented income statement that is shown below for the most recent year (he allocated selling and administrative expenses to products based on sales dollars):

 Basic Advanced TotalNumber of units produced and sold 20,000  10,000 30,000        Sales$3,000,000 $2,000,000$5,000,000Cost of goods sold 2,300,000  1,350,000 3,650,000Gross margin 700,000  650,000 1,350,000Selling and administrative expenses 720,000  480,000 1,200,000Net operating income (loss)$(20,000)$170,000$150,000

Direct laborers are paid $20 per hour. Direct materials cost $40 per unit for the Basic model and $60 per unit for the Advanced model. Koontz is considering a change from plantwide overhead allocation to a departmental approach. The overhead costs in the company’s Molding Department would be allocated based on machine-hours and the overhead costs in its Assemble and Pack Department would be allocated based on direct labor-hours. To enable further analysis, the controller gathered the following information:

 Molding Assemble and Pack TotalManufacturing overhead costs$787,500 $562,500$1,350,000Direct labor-hours:       Basic 10,000  20,000 30,000Advanced 5,000  10,000 15,000Machine-hours:       Basic 12,000  – 12,000Advanced 10,000  – 10,000

  Koontz’s production manager has suggested using activity-based costing instead of either the plantwide or departmental approaches. To facilitate the necessary calculations, she assigned the company’s total manufacturing overhead cost to four activity cost pools as follows:

Activity Cost PoolActivity MeasureManufacturing OverheadMachiningMachine-hours in Molding$417,500Assemble and packDirect Labor-Hours in Assemble and Pack 282,500Order processingNumber of customer orders 310,000SetupsSetup hours 340,000  $1,350,000

She also determined that the average order size for the Basic and Advanced models is 400 units and 50 units, respectively. The molding machines require a setup for each order. One setup hour is required for each customer order of the Basic model and three hours are required to setup for an order of the Advanced model.

Using the additional information provided by the production manager, calculate:

The company pays a sales commissions of 5% for the Basic model and 10% for the Advanced model. Its traceable fixed advertising expenses include $150,000 for the Basic model and $200,000 for the Advanced model. The remainder of the company’s selling and administrative costs are common fixed expenses.

QUESTION 1: Using your activity-based cost assignments from requirement 3, make a contribution format segmented income statement. (Hint: Organize all of the company’s costs into three categories: variable expenses, traceable fixed expenses, and common fixed expenses.)

QUESTION 2:Using your contribution format segmented income statement from requirement 4, calculate the break-even point in dollar sales for the Advanced model.

 

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