Identify the costing method where the indirect costs are allocated and apportioned on the basis of direct labour hour or production machine hour rate? a. Life cycle costing b. Target costing c. Traditional method d. Activity based costing
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- 13/Which cost compels the managers to examine the long- term financial implications of the strategic decisions they are making in an organization? a. Life cycle cost b. All of these c. Activity based costing d. Targeting costingHB Corporation in Delaware, U.S., makes and sells a single product. The company operates a standard costing system and a just-in-time purchasing and production system. No inventory of raw materials or finished goods is held. Details of the budget and actual data for the previous period are given below: Budget data Standard production costs per unit (currency in U.S. dollar, $): Direct material 8kg @$10.80 per kg 86.40 Direct labor 1.25 hours @$18.00 per hour 22.50 Variable overheads 1.25 hours @$6.00 per direct labor hour 7.50 Standard selling price: $180 per unit Budgeted fixed production overheads: $170 000 Budgeted production and sales: 10 000 units Actual data Direct material: 74 000kg @$11.20 per kg Direct labor: 10,800 hours @$19.00 per hour Variable overheads: $70,000 Actual selling price: $184 per unit Actual fixed production overheads: $168 000 Actual production and…What cost segregation technique gives the most mathematically precise cost estimate? a. Scatter diagram method b. Least-squares method c. High-Low method d. Calendar method
- A pasta entree costs $1.18 per portion. The spice factor is 3.5%; the Q factor is $1.15. what is the True Cost per Portion for this entree? (Round to the penny, do not include the $ sign.) Skip QuestionCommentFlag QuestionExplain the Purchasing Portfolio that is being used in KFC with a diagramPedro sells port wine for $36 per bottle. His fixed costs are $1,430. Variable costs are $11 per bottle. With the increased variable costs of $2 per bottle, what is the new breakeven revenue?
- One of your Taiwanese suppliers has bid on a new line of molded plastic parts that is currently being assembled at your plant. The supplier has bid $0.10 per part, given a forecast you provided of 400,000 parts in one year1. 500,000 in year 2; 700,000 in year 3. shipping and handling of parts from the supplier’s factory is estimated at $0.01 per unit. Additional inventory handling charges should amount to $0.006 per unit. Finally, administrative costs are estimated at $30 per month. Although your plant can continue producing the part, the plant would need to invest in another molding machine, which would cost $20,000. Direct materials can be purchased for $0.06 per unit. Direct labor is estimated at $0.05 per unit plus a 50% surcharge for benefits and, indirect labor is estimated at $0.008 per unit plus 50% benefit. Up-front engineering and design costs will amount to $40,000. Finally, management has insisted that overhead be allocated if the parts are made in-house at a rate of 100%…Sticky Fingers Inc. produces packing and masking tape. Last year’s annual report has been compiled, and you are in charge of business analysis for the year. The company had a goal for inventoryturnover of 6 for last year. The actual results were cost of goods sold of $400,000, beginning inventory of $50,000, and ending inventory of $70,000. What was the actual inventory turnover, and atwhat percent did the firm achieve its goal?A product at the Jennings Company enjoyed reasonable sales volumes, but its contributions to profits were disappointing. Last year, 17,500 units were produced and sold. The selling price is $22 per unit, the variable cost is $18 per unit, and the fixed cost is $80,000.a. What is the break-even quantity for this product? Use both graphic and algebraic approaches to get your answer.b. If sales were not expected to increase, by how much would Jennings have to reduce their variable cost to break even?c. Jennings believes that a $1 reduction in price will increase sales by 50 percent. Is this enough for Jennings to break even? If not, by how much would sales have to increase?d. Jennings is considering ways to either stimulate sales volume or decrease variable cost. Management believes that either sales can be increased by 30 percent or that variable cost can be reduced to 85 percent of its current level. Which alternative leads to higher contributions to profits, assuming that each is…
- Develop a level aggregate plan for the Draper Tax Companyif back orders are permitted.(a) Show what would happen if this plan were implemented.(b) Calculate the costs associated with this plan.(c) Evaluate the plan in terms of cost, customer service,operations, and human resources.Determine which factor of production is needed in the following problem. 1.The ABM manufacturing Co.hired a gardener.He uses a lawn mower for landscaping.Which factor of production would you consider this machine? 2.The owner of the company withdrew cash for the salaries of thw employees.which factor of production would you consider cash on hand? 3.The top manager of the firm said "the great ideas,consepts and emotional determination of a person to produce something that consumers want to buy" is very important for the company.What factor of production describes the ability to create great ideas? 4.The farmers planted pineapple cutting in the vacant area located in their locality.Which factor of production would you consider a pineapple plantation?Q. Radhuni, a traditional bangla restaurant, incurs the following costs:a. Cost of children’s toys given away free with kids’ mealsb. Cost of the posters indicating the special “two dishes for $2.50”c. Costs of frozen onion rings and Fishesd. Salaries of the food specialists who create new Biriyani for the restaurant chaine. Cost of “to-go” bags requested by customers who could not finish their meals in therestaurantRequired: Just Classify each of the cost items (a–e) as one of the business functions of the value chain