Questions from Managerial Accounting

Q: Ben Pal man owns an art gallery. He accepts paintings and

Ben Pal man owns an art gallery. He accepts paintings and sculpture on consignment and then receives 20% of the price of each piece as his fee. Space is limited, and there are costs involved, so Ben i...

Q: Martinez Manufacturing Inc. showed the following costs for last month:

Martinez Manufacturing Inc. showed the following costs for last month: Direct materials …………………………………….. $7,000 Direct labor ……………………………………………… 3,000 Manufacturing overhead ………………………….. 2,000 Selling...

Q: Luisa Crimini has been operating a beauty shop in a college town

Luisa Crimini has been operating a beauty shop in a college town for the past 10 years. Recently, Luisa rented space next to her shop and opened a tanning salon. She anticipated that the costs for the...

Q: Head-First Company had planned to sell 5,000 bicycle

Head-First Company had planned to sell 5,000 bicycle helmets at $75 each in the coming year. Unit variable cost is $45 (includes direct materials, direct labor, variable factory overhead, and variable...

Q: Grin Company manufactures digital cameras. In January, Grin produced 4

Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the following costs: Direct materials …………………………….. $400,000 Direct labor ……………………………………….. 80,000 Manufacturin...

Q: Melford Company sold 26,800 units last year at $16

Melford Company sold 26,800 units last year at $16.00 each. Variable cost was $11.50, and total fixed cost was $126,000. Required: 1. Prepare an income statement for Melford for last year. 2. Calcula...

Q: Allyson Ashley makes jet skis. During the year, Allyson manufactured

Allyson Ashley makes jet skis. During the year, Allyson manufactured 94,000 jet skis. Finished goods inventory had the following units: January 1 ……………………………. 6,800 December ……………………….. 31 7,200 Req...

Q: The method of least squares was used to develop a cost equation

The method of least squares was used to develop a cost equation to predict the cost of receiving purchased parts at a video game manufacturer. Ninety-six data points from monthly data were used for th...

Q: Jasper Company provided the following information for last year:

Jasper Company provided the following information for last year: Sales in units ………………………………………………. 280,000 Selling price ………………………………………………………. $ 12 Direct materials …………………………………………… 180,000 Direct...

Q: Suppose a company finds that shipping cost is $3,560

Suppose a company finds that shipping cost is $3,560 each month plus $6.70 per package shipped. What is the cost formula for monthly shipping cost? Identify the independent variable, the dependent var...