Question: Convert the following p-functions to molar

> Refer to the data in the exercise 11-22. Use diagrams similar to those in Exhibits 11–6 and 11–8 to compute the variable-overhead spending and efficiency variances, and the fixed-overhead budget and volume variances.

> Crystal Glassware Company has the following standards and flexible-budget data. Standard variable-overhead rate ………………â€&br

> Refer to Exercise 10–31. Set up T-accounts, and post the journal entries to the general ledger. Data from Exercise 10-31: Refer to the data in Exercise 10–22, regarding Saskatewan Can Company. Prepare journal entries

> Refer to the data in Exercise 10–22, regarding Saskatewan Can Company. Prepare journal entries to: 1. Record the purchase of direct material on account. 2. Add direct-material and direct-labor cost to Work-in-Process Inventory. 3. Re

> Part of your company’s accounting database was destroyed when Godzilla attacked the city. You have been able to gather the following data from your files. Reconstruct the remaining information using the available data. All of the raw ma

> Fresno fibre Optics, Inc., manufactures fibre optic cables for the computer and telecommunications industries. At the request of the company vice president of marketing, the cost management staff has recently completed a customer-profitability study. The

> Gigabyte Inc. manufactures three products for the computer industry: Gismos (product G): annual sales, 8,000 units Thingamajigs (product T): annual sales, 15,000 units Whatchamacallits (product W): annual sales, 4,000 units The company uses a traditional

> Allegheny Community Hospital is a non-profit hospital operated by the county. The hospital’s administrator is considering a proposal to open a new outpatient clinic in the nearby city of New Castle. The administrator has made the following estimates pert

> Winner’s Circle, Inc., manufactures medals for winners of athletic events and other contests. Its manufacturing plant has the capacity to produce 10,000 medals each month. Current monthly production is 7,500 medals. The company normally

> Graydon, Inc., manufactures food blending machinery according to customer specifications. The company operated at 75 percent of practical capacity during the year just ended, with the following results (in thousands): Graydon, which expects continued ope

> Go online and use Google or another search engine to find several current news articles about SOX. Read three of these articles, and then summarize them for your classmates.

> Tipton One-Stop Decorating sells paint and paint supplies, carpet, and wallpaper at a single-store location in suburban Des Moines. Although the company has been very profitable over the years, management has seen a significant decline in wallpaper sales

> Refer to the original data given in the preceding problem for Tulsa Medical Supply Company. Required: 1. Calculate the unit cost of a production order for 100 specially coated plates used in cancer testing. In addition to direct material costing $120 pe

> The controller for Tulsa Medical Supply Company has established the following activity cost pools and cost drivers. An order for 1,000 boxes of medical-testing agent has the following production requirements. Required: 1. Compute the total overhead that

> Alpha Communications, Inc., which produces telecommunications equipment in the United States, has a very strong local market for its circuit board. The variable production cost is $130, and the company can sell its entire supply domestically for $170. Th

> Chillco Corporation produces containers of frozen food. During April, Chillco produced 1,450 cases of food and incurred the following actual costs. Overhead is budgeted and applied using direct-labor hours in a standard costing system. Standard cost and

> Condensed monthly income data for Thurber Book Stores are presented in the following table for November 20x1. (Ignore income taxes.) Additional Information: Management estimates that closing the downtown store would result in a 10 percent decrease in mal

> Madison County Airport handles several daily commuter flights and many private flights. The county budget officer has compiled the following data regarding airport costs and activity over the past year. Required: 1. Draw a scatter diagram of the airport

> Cape Cod Lobster Shacks, Inc. (CCLS), is a seafood restaurant chain operating throughout the northeast. The company has two sources of long-term capital: debt and equity. The cost to CCLS of issuing debt is the after-tax cost of the interest payments on

> Ontario, Inc., manufactures two products, Standard and Enhanced, and applies overhead on the basis of direct-labor hours. Anticipated overhead and direct-labor time for the upcoming accounting period are $800,000 and 25,000 hours, respectively. Informati

> Refer to the organization chart for Rocky Mountain General Hospital given in the preceding problem. Ignore the rest of the data in that problem. The following table shows the cost allocation bases used to distribute various costs among the hospital&acirc

> Can the CEO of a large company really be expected to know what is going on at all levels in the organization? In various court cases, CEOs have argued that they could not be held accountable for the actions of others in their companies. As a group, stage

> LawnMate Company manufactures power mowers that are sold throughout the United States and Canada. The company uses a comprehensive budgeting process and compares actual results to budgeted amounts on a monthly basis. Each month, LawnMateâ€&#15

> Valdosta Chemical Company manufactures two industrial chemical products in a joint process. In May, 10,000 gallons of input costing $60,000 were processed at a cost of $150,000. The joint process resulted in 8,000 pounds of Resoline and 2,000 pounds of K

> Wyalusing Industries has manufactured prefabricated houses for over 20 years. The houses are constructed in sections to be assembled on customers’ lots. Wyalusing expanded into the precut housing market when it acquired Fairmont Company

> Countywide Cable Services, Inc., is organized with three segments: Metro, Suburban, and Outlying. Data for these segments for the year just ended follow. In addition to the expenses listed above, the company has $95,000 of common fixed expenses. Income-t

> Office King Corporation manufactures three different models of paper shredders including the waste container that serves as the base. While the shredder heads are different for the three models, the waste container is the same. The number of waste contai

> The board of education for the Central Catskill School District is considering the acquisition of several minibuses for use in transporting students to school. Five of the school district’s bus routes are underpopulated, with the result that the full-siz

> Zylar Industries is a manufacturer of standard and custom-designed bottling equipment. Early in December 20x0, Lyan Company asked Zylar to quote a price for a custom-designed bottling machine to be delivered in April. Lyan intends to make a decision on t

> Alberta Gauge Company, Ltd., a small manufacturing company in Calgary, Alberta, manufactures three types of electrical gauges used in a variety of machinery. For many years the company has been profitable and has operated at capacity. However, in the las

> Morelli Electric Motor Corporation’s controller, Erin Jackson, developed new product costs for the standard, deluxe, and heavy-duty models using activity-based costing. It was apparent that the firm’s traditional product-costing system had been under cos

> Can you describe any internal controls you observed in a job you have held? Alternatively, what kinds of internal controls do you think are in place at your college?

> Refer to the product costs developed in requirement 2 of the preceding case. Prepare a table showing how Morelli Electric Motor Corporation’s traditional, volume-based product-costing system distorts the product costs of the standard, d

> Morelli Electric Motor Corporation manufactures electric motors for commercial use. The company produces three models, designated as standard, deluxe, and heavy-duty. The company uses a job-order cost-accounting system with manufacturing overhead applied

> Whitestone Company produces two subassemblies, JR-14 and RM-13, used in manufacturing trucks. The company is currently using an absorption costing system that applies overhead based on directlabor hours. The budget for the current year ending December 31

> Bo Vonderweidt, the production manager for Sportway Corporation, had requested to have lunch with the company president. Vonderweidt wanted to put forward his suggestion to add a new product line. As they finished lunch, Meg Thomas, the company president

> General Instrumentation Company manufactures dashboard instruments for heavy construction equipment. The firm is based in Baltimore, but operates several divisions in the United States, Canada, and Europe. The Hudson Bay Division manufactures complex ele

> InterGlobal Industries is a diversified corporation with separate operating divisions. Each division’s performance is evaluated on the basis of profit and return on investment. The Air Comfort Division manufactures and sells air-conditi

> Holiday Entertainment Corporation (HEC), a subsidiary of New Age Industries, manufactures go-carts and other recreational vehicles. Family recreational centers that feature not only go-cart tracks but miniature golf, batting cages, and arcade games as we

> Pacific Rim Industries is a diversified company whose products are marketed both domestically and internationally. The company’s major product lines are furniture, sports equipment, and household appliances. At a recent meeting of Pacif

> Cathy’s Classic Clothes is a retailer that sells to professional women in the northeast. The firm leases space for stores in upscale shopping centers, and the organizational structure consists of regions, districts, and stores. Each region consists of tw

> You just started a summer internship with the successful management consulting firm of Kirk, Spock, and McCoy. Your first day on the job was a busy one, as the following problems were presented to you. Required: Supply the requested comments in each of

> Refer to the original data given in the preceding exercise III-5 for Fiber Technology, Inc. Required: 1. Prepare a table showing the total annual cost of ordering and storing XL-20 for each of the following order quantities: 400, 600, and 800 canisters.

> CompTech, Inc., manufactures printers for use with home computing systems. The firm currently manufactures both the electronic components for its printers and the plastic cases in which the devices are enclosed. Jim Cassanitti, the production manager, re

> Aunt Molly’s Old Fashioned Cookies bakes cookies for retail stores. The company’s best-selling cookie is chocolate nut supreme, which is marketed as a gourmet cookie and regularly sells for $8.00 per pound. The standar

> Your next-door neighbor recently began a new job as assistant controller for Conundrum Corporation. As her first assignment, she prepared a performance report for January. She was scheduled to present the report to management the next morning, so she bro

> MacGyver Corporation manufactures a product called Miracle Goo, which comes in handy for just about anything. The thick tarry substance is sold in six-gallon drums. Two raw materials are used; these are referred to by people in the business as A and B. T

> Niagara Falls Sporting Goods Company, a wholesale supply company, engages independent sales agents to market the company’s products throughout New York and Ontario. These agents currently receive a commission of 20 percent of sales, but

> Oakley Company manufactures and sells adjustable canopies that attach to motor homes and trailers. The market covers both new units as well as replacement canopies. Oakley developed its 20x2 business plan based on the assumption that canopies would sell

> Delaware Medical Centre operates a general hospital. The medical centre also rents space and beds to separately owned entities rendering specialized services, such as Pediatrics and Psychiatric Care. Delaware charges each separate entity for common servi

> Refer to the data and accompanying information in the Case 6-51. Required: 1. Use the high-low method to estimate the cost behaviour for the clinic’s administrative costs. Express the cost behaviour in formula form (Y = a + bX). What i

> What does SOX section 404 require of management?

> What does SOX section 302 require of management?

> What is the PCAOB? Describe its mission.

> List five ways that management can seek to relax a constraint by expanding the capacity of a bottleneck operation.

> Aloha Hotels and Resorts uses number of employees as the allocation base for its administration cost pool. Briefly explain why this probably makes sense for Aloha, and describe the characteristics of a company for which this may not be the right allocati

> Using the measures selected in the prior question, explain the difference between lead and lag measures.

> Identify four measures that an airline might use in the internal business processes perspective of a balanced scorecard.

> List and describe the four perspectives included in the balanced scorecard.

> How does cloud-based budgeting make use of the Internet? What are its risks and benefits?

> Discuss this comment by a small-town bank president: “Budgeting is a waste of time. I’ve been running this business for 40 years. I can run it in my sleep.”

> “I don’t understand this cost report at all,” exclaimed Jeff Mahoney, the newly appointed administrator of Mountain View General Hospital. “Our administrative costs in the new pediat

> What are ESG outcomes and costs, and why does reporting this information matter?

> Describe the use of practical capacity in a TDABC system.

> East Company manufactures DVD players using a completely automated production process. West Company also manufactures DVD players, but its products are assembled manually. How will these two firms’ cost structures differ? Which company will have a higher

> How can an activity-based costing system alleviate the problems Dronze Inc.’s management was having under its traditional, volume-based product-costing system?

> Why was Dronze Inc.’s management being misled by the traditional product-costing system? What mistakes were being made?

> How could the administration at Immunity Medical Center’s Primary Care Unit use the information developed by the TDABC project team?

> Which of the following university cost drivers is likely to be associated with the behavior of variable costs? (a) number of students, (b) number of disciplines offered for study, (c) urban versus rural location

> Provide three examples of ways in which Walt Disney Company could apply insights from big data and data analytics to promote the success of their ESPN sports television operation.

> Based on the discussions in this chapter, what would you expect is meant by the term non–value-added costs?

> Give three examples of cost drivers in the airline industry that could apply to a particular flight.

> Earth and Artistry, Inc., provides commercial landscaping services. Sasha Cairns, the firm’s owner, wants to develop cost estimates that she can use to prepare bids on jobs. After analysing the firm’s costs, Cairns has

> Fiber Technology, Inc., manufactures glass fibers used in the communications industry. The company’s materials and parts manager is currently revising the inventory policy for XL-20, one of the chemicals used in the production process. The chemical is pu

> List three costs that are likely to be controllable by a city’s airport manager. List three costs that are likely to be uncontrollable by the manager.

> Give examples of each of the four primary management activities in the context of a national fast-food chain such as Chipotle.

> The volume of business-to-consumer (B2C) electronic retail transactions is estimated to exceed $2 trillion, and business-to-business (B2B) e-commerce transactions are estimated at over an additional $1 billion. What additional decision-making challenges

> Explain the differences in the basic philosophies underlying the JIT and EOQ approaches to inventory management.

> Define and give examples of inventory ordering, holding, and shortage costs.

> “If the interest rate is 10 percent, a present value of $100 and a future value of $133.10 at the end of three years are economically equivalent.” Explain.

> “The greater the discount rate, the greater the present value of a future cash flow.” True or false? Explain your answer.

> Define the term present value.

> Explain in words the following future value formula: Fn = P (1 + r)n.

> What is meant by the term compound interest?

> European Styles, Inc., manufactures women’s blouses of one quality, which are produced in lots to fill each special order. Its customers are department stores in various cities. European Styles sews the particular storesâ€&#1

> Why did some managers complain about the requirements imposed by SOX sections 302 and 404?

> Show how to prepare a journal entry to enter direct material costs into the Work-in-Process Inventory account for the first department in a sequential production process. Show how to prepare the journal entry recording the transfer of goods from the firs

> Now that we have studied different kinds of costs and the systems used to accumulate them, let’s think about how these concepts might apply in the social media industry. Suppose you are the CFO (chief financial officer) of Facebook, Twitter, Instagram, o

> Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The following data have been compiled for the month of June. Conversion activity occurs uniformly throughout the production process

> Timing Technology, Inc., manufactures timing devices. During 20x1, 900,000 units were completed and transferred to finished-goods inventory. On December 31, 20x1 there were 300,000 units in work in process. These units were 50 percent complete as to conv

> Glass Glow Company manufactures a variety of glass windows in its Egalton plant. In Department I, clear glass sheets are produced, and some of these sheets are sold as finished goods. Other sheets made in Department I have metallic oxides added in Depart

> Plasto Corporation manufactures a variety of plastic products including a series of molded chairs. The three models of molded chairs, which are all variations of the same design, are Standard (can be stacked), Deluxe (with arms), and Executive (with arms

> GroFast Company manufactures a high-quality fertilizer, which is used primarily by commercial vegetable growers. Two departments are involved in the production process. In the Mixing Department, various chemicals are entered into production. After proces

> Scrooge and Zilch, a public accounting firm in London, is engaged in the preparation of income tax returns for individuals. The firm uses the weighted-average method of process costing for internal reporting. The following information pertains to Februar

> The following data pertain to the Hercules Tire and Rubber Company for the month of May. Additional Information: a. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. b. H

> Gargantuan Industries is a multiproduct company with several manufacturing plants. The Boise Plant manufactures and distributes two household cleaning and polishing compounds, standard and commercial, under the Super Clean label. The forecasted operating

> A-1 Products manufactures wooden furniture using an assembly-line process. All direct materials are introduced at the start of the process, and conversion cost is incurred evenly throughout manufacturing. An examination of the company’s Work-in-Process I

> Goodson Corporation assembles various components used in the telecommunications industry. The company’s major product, a relay switch, is the result of assembling three parts: XY634, AA788, and GU321. The following information relates to activities of Ap

> Albany Company accumulates costs for its product using process costing. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. Required: Use weighted-average process costing

> Triangle Fastener Corporation accumulates costs for its single product using process costing. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process. A partially completed prod