Answers for Discussion outline problems:
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Chapter |
Problem # |
Company Name |
Answer |
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2 |
Demo 1 |
Thompson |
COGM= $216,450 COGS= $217,550 |
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Demo 2 |
Danan |
Net Income= $175,000 |
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Group 1 |
Gaillard |
COGM= $335,300 COGS= $330,540 |
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Group 2 |
Photosmart |
Number of cameras= 6500 Value End. Inv= $44,525 COGS=$1,417,950 Net Inc = $386,800 |
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Practice 1 |
Cheaper Ent. |
Finished goods = $50,000 WIP= $28,000 Direct Mat.= $62000 |
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Practice 2 |
Whizbang |
COGM= $415,000 COGS= $373,500 |
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Practice 3 |
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COGM = $118, 690 COGS= $113,790 Net Inc. = $174,000 |
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Chapter 3 |
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Demo 1 |
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Variable cost/ unit = .09 Fixed cost = $170 |
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Group 1 |
Johnstonian |
Variable cost/unit = -.09 Fixed cost = $1250 |
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Demo 2 |
Covered in class |
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Practice 1 |
Xavier |
Variable cost/ unit and total fixed Costs are not constant b. Y= 4520+3.20(MH) c. Y= 4012.25+ 3.44 (MH) |
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Chapter 4 |
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Demo 1 |
Schramka |
1) painted= 234.50/unit and unpainted= 153.75/ unit 2) painted= 454.20 and unpainted- 248.75 Note that I did not include paint for the unpainted chair |
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Demo 2 |
Howell |
Traditional A= 11.82; B= 13.82; C=11.32 ABC A= 11.56; B= 18.65; C= 9.88 |
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Demo 3 |
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Answer included |
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Group 1 |
SU Company |
Traditional Standard=273.85; Unique=480.00 ABC Standard=218.40; Unique=695.00 |
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Group 2 |
Lutz |
Per unit costs are: Traditional: Quality= 275.04; Superior= 537.60; Superb=1280.24 ABC: Quality = 361.0; Superior= 410.80; Superb= 998.00 |
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Group 3 |
Tyson |
Per unit costs are: Traditional: Classic= 8.00 ; Modern = 5.50 ABC: Classic= 5.50; Modern = 7.50 |
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Chapter 5 |
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Demo 1 |
Harris |
1) $3/ Direct labor hour 2) $570,000 debt wip and credit overhead 3) $8,000 over; to close debit overhead and credit COGS |
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Practice 1 |
Rayburn |
1) $50 2) $400,000 over 3) Debit overhead and credit COGS 400,000 4.) Debit overhead $400,000 and then credit WIP=$76,000, COGS $240,000 and Fin. Goods $84,000 |
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Demo 2 |
Ace |
COGM = 392,500 COGS= 187,500 Overapplied overhead= 10,000 |
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Group 1 |
Polson |
COGM= 565,000 COGS= 590,000 Under applied overhead= 20,850 |
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Practice 1 |
Update |
End WIP= 5300 End Materials= 11,000 D. Materials purchased= 42,000 Applied overhead= 15,600 COGM= 89,000 |
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Practice 2 |
Weismer |
DM 12/31= 20,000 Finished Goods 1/31 = 142,000 Direct labor = 150,000 Actual overhead = 256,000 Payroll liable= 19,000 WIP 1/31= 30,000 WIP 12/31= 10,000 |
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Practice 3 |
Farawell |
Materials purchased = 350,000 D. Materials used = 405,000 Materials 12/31= 136,000 OH rate = 1.75/ dlhr Applied overhead = 245,000 Under applied overhead = 2,000 To Fin. Goods= 803,650 WIP 12/31= 54,900 OH in end = 21,000 |
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Chapter 6 |
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Demo 1 |
Wantler |
EU: Mat=12000; DL=11400; OH=11400 Cost/EU=$6 Cost Goods T/O=378000 End WIP=447000 |
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Group 1 |
Ming |
EU: Mat=10000; Conv=9500 Cost/EU=15.20 Cost Goods T/O=136800 End WIP=11200 |
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Demo 2 |
Estrella |
Weighted Average: Cost Goods T/O=13200 End WIP=3400 EU: DM=80000; CC=68000 FIFO: Cost Goods Completed=13000 End WIP=4000 EU: DM=70000; CC=61000 |
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Group 2 |
Novel |
EU: DM=10000; CC=9250 Cost/EU=.39 Cost T/O=3510 End WIP=390 |
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Demo 3 |
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Group 3 |
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Weighted Average-Assembly: EU: DM=40; CC=38 Cost/EU=709,000 Cost T/O=21,270,000 End WIP=6,690,000 Weighted Average-Finishing: EU: DM=40; CC=37; TI=40 Cost/EU=999,500 Cost T/O=29,985,000 End WIP=9,405,500 FIFO-Assembly: EU: DM=30; CC=36 Cost/EU=712,000 Cost T/O=21,240,000 End WIP=6,720,000 FIFO-Finishing: EU: DM=30; CC=35; TI=30 Cost/EU=999,300 Cost T/O=29,956,400 End WIP=9,404,100 |
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Practice 1 |
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FIFO EU: DM=250,000; DL=271,000; OH=258,250 WA EU: DM=325,000; DL=316,000; OH=322,000 |
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Practice 2 |
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WA EU: DM=20,000; CC=18,000; TI=20,000 Cost/EU=2.78 Cost T/O=33,360 End WIP=21,580 FIFO EU: DM=14,000; CC=15,000; TI=14,000 Cost/EU=2.77 Cost T/O= End WIP= |
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Chapter 7 |
Demonstration 1 |
Homestead |
Direct: Pottery – 205,445; Retail – 229,555 Step: Pottery – 203,984; Retail – 231,016 Equation: Pottery – 205,192; Retail – 229,808 |
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Practice 1 |
Ragsdale |
Direct: X – 1344.66; Y – 1033.33 Step: X – 1358; Y – 1010 Equation: A = 560 + .2(B) + 0(C); B = 744 + .1(A) + .1(C); C = 484 + .2(A) + .1(B) |
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Practice 2 |
Eastern Science |
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Practice 3 |
Kare Food |
Direct: Cooking – 412,778; Packaging – 257,222 Step: Cooking – 397,667; Packaging – 272,333 Equation: Cooking – 400,000; Packaging – 270,000 |
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