Weekly Problem Set : EMBA 710 Financial And Managerial Accounting

Q5: What is the total unit cost and per unit profit for 1 kg of "complete male" at a retail price of Cr. 6,85 and with an allocation of cr. 1.20 for production fixed expenses?

330-10-30330-10-30-1 The primary basis of accounting for inventories is cost, which has been defined generally as the price paid or consideration given to acquire an asset. As applied to inventories, cost means in principle the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location. It is understood to mean acquisition and production cost, and its determination involves many considerations. 330-10-30330-10-30-2 Although principles for the determination of inventory costs may be easily stated, their application, particularly to such inventory items as work in process and finished goods, is difficult because of the variety of considerations in the allocation of costs and charges.

S., & Hassan, M. K. (2012). The domination of financial accounting on managerial Commerce & Management, 22(4), 306-327. doi:10.1108/10569211211284502

Product Costs. In Chapter 3, you were introduced to three types of costs associated with a manufactured product – direct materials, direct labor, and manufacturing overhead. Explain how these costs are associated with the manufactured product. Why are some of these costs allocated to the product through costing

3. What are each of the financial statements commonly called in for-profit health care organizations and in not for-profit care organizations?

9781435463509, Payroll Accounting, 2012 Edition, Bernard J. Bieg - © Cengage Learning. All rights reserved. No distribution allowed without express authorization

Kieso, D. E., Weygandt, J. J. and Warfield, T. D. (2007). Intermediate Accounting. (12th ed.). Hoboken, NJ: Wiley.

2. The present value of the holding cost of inventory for the duration ofinitial replenishment cycle is

5. Paid $250 to have company name and advertising slogan painted on new delivery truck.

Advanced Accounting, 5th Edition, by Debra C. Jeter and Paul K. Chaney, John Wiley & Sons, Inc., 2012.

I interviewed a family friend who has several years of accounting experience under his belt, having done accounting for industries in the past such as the oil industry, the food produce industry, and construction industry. During our conversation we went over a few of the techniques used in managerial accounting. Such as budgeting, variances, cost volume product, and activity based costing.

Both products require 1.5 hours of direct labor for completion. Therefore, total annual direct labor hours are 96,300 or {1.5hrs.X (54,000+10, 2000)}.Expected annual manufacturing overhead is $1,557,480.Thus, the predetermined overhead rate is $16.17 OR ($1,557,480 /96,300) per direct labor hour. The direct materials cost per unit is $18.50 for the home model and $26.50 for the commercial model. The direct labor cost is $ 19 per unit for both the home and the commercial models.

Noreen, E.W. & Brewer, P. C. & Garrison, R. H. ( 2011). Managerial accounting for managers. Retrieved from

Tampa Foundry began operations during the current year, manufacturing various products for industrial use. One such product is light-gauge aluminum, which the company sells for $36 per roll. Cost information for the year just ended follows.

1. Candice Corporation has decided to introduce a new product. The product can be manufactured using either a capital-intensive or labor-intensive method. The manufacturing method will not affect the quality or sales of the product. The estimated manufacturing costs of the two methods are as follows: