Top PDF Test Bank Cost Accounting 6e by Raiborn and Kinney 9 chapter

Test Bank Cost Accounting 6e by Raiborn and Kinney  9 chapter

Test Bank Cost Accounting 6e by Raiborn and Kinney 9 chapter

6. Cost-volume-profit analysis is a technique available to management to understand better the interrelationships of several factors that affect a firm's profit. As with many such techniques, the accountant oversimplifies the real world by making assumptions. Which of the following is not a major assumption underlying CVP analysis?

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Test Bank Cost Accounting 6e by Raiborn and Kinney  16 chapter

Test Bank Cost Accounting 6e by Raiborn and Kinney 16 chapter

52. Refer to Variance Corporation. The profit lost by selling defective units to Greenstein Company totals $1,440. The total rework cost for 700 units is $28,000. The difference between the profit earned on a good unit and a defective unit is $12. How many total defective units did Variance Corporation produce?

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Test Bank Cost Accounting 6e by Raiborn and Kinney  15 chapter

Test Bank Cost Accounting 6e by Raiborn and Kinney 15 chapter

Committed fixed costs are those costs that flow from the basic existence of the organization. These are the direct costs of the organization's long-term investments (such as plant and equipment) and the costs of essential personnel. These costs can only be changed in the long run without significantly affecting the organization. Discretionary fixed costs are all fixed costs that do not fit into the committed category. This includes the costs of auxiliary service activities including activities that could be discontinued in the short run without adversely affecting the long-run viability of the organization.
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Test Bank Cost Accounting 6e by Raiborn and Kinney  18 chapter

Test Bank Cost Accounting 6e by Raiborn and Kinney 18 chapter

Business process reengineering is a tool to achieve large, quick gains in effectiveness or efficiency through redesigning the execution of specific business functions. It is a method of examining processes to identify and then eliminate, reduce, or replace functions and processes that add little customer value to products or services. BPR is designed to bring radical changes to an organization's operations. BPR is often associated with employee layoffs, outsourcing initiatives, and technology acquisition.

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Test Bank Cost Accounting 6e by Raiborn and Kinney  13 chapter

Test Bank Cost Accounting 6e by Raiborn and Kinney 13 chapter

The minimum price that Ball Bearing Division would accept is the one that would leave its profits at the same level as if it only produced "T" bearings. To produce the "S" bearing, Ball Bearing Division must give up production and sale of 1,000 "T" bearings. These 1,000 bearings generate $20,000 of contribution margin: [1,000 × ($50 - $30) ]. The sales price would have to be high enough to recoup both the variable costs of the "S" bearings and the contribution margin that is forfeited on the 1,000 units of "T" bearings: $60 + ($20,000/600) = $93.33
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Test bank Cost Accouting 6e by Rainborn Chapter 11

Test bank Cost Accouting 6e by Rainborn Chapter 11

Uniflo Company produces three products from the same process that has joint processing costs of $4,100. Products R, S, and T are produced in the following quantities: 250 gallons, 400 gallons, and 750 gallons. Uniflo Company also incurred advertising costs of $60,000. The ad was used to run sales for all three products. The three products occupy floor space in the following ratio: 5:4:9. (Round all answers to the nearest dollar.)

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Test bank Cost Accouting 6e by Rainborn Chapter 19

Test bank Cost Accouting 6e by Rainborn Chapter 19

9. The Cuddly Creations Company produces small plastic dolls in its Georgia manufacturing plant. The company is currently evaluating ways to improve productivity. The accountant of the firm's parent organization suggested that management implement a new compensation plan based on throughput performance measure as an incentive to increase productivity. To demonstrate how such a measure might work, the accountant gathered the following production data for a recent month:

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Test bank of Advanced Accounting by Guerrero & Peralta CHAPTER 9

Test bank of Advanced Accounting by Guerrero & Peralta CHAPTER 9

Inventory, January 1 ........................................ – 20,000 – Purchases ........................................................ 120,000 162,000 84,000 Repossessed merchandise ................................ _____ – _____ – _2,520 Cost of goods available for sale ....................... 120,000 182,000 86,520 Less Inventory, December 31 .......................... _20,000 _____– _7,210 Cost of goods sold ........................................... 100,000 182,000 79,310 Gross profit .. ... ........................................................ P 50,000 P 98,000 P23,690 Gross profit rates ...................................................... 33-1/3% 35% 23%
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Test Bank Cost Accounting 6e by Raiborn and Kinney  6 chapter

Test Bank Cost Accounting 6e by Raiborn and Kinney 6 chapter

If spoilage is normal and continuous, the calculations for EUP do not include this spoilage (method of neglect), and the good units simply absorb the cost of such spoilage. If spoilage is normal and discrete, the equivalent units are used in the EUP calculations, and the spoilage cost is assigned to all units that passed through the inspection point during the current period. If the spoilage is abnormal and either discrete or continuous, the equivalent units are used in EUP calculations and costed at the cost per EUP; the total cost is then assigned to a loss account.
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Test Bank Cost Accounting 6e by Raiborn and Kinney  2 chapter

Test Bank Cost Accounting 6e by Raiborn and Kinney 2 chapter

The relevant range is that range of activity over which a variable cost remains constant on a per-unit basis and a fixed cost remains constant in total. Managers can review the various ranges of activity and the related effects on variable cost (per-unit) and fixed cost (in total) to determine how a change in the range will affect costs and, thus, the firm's profitability.

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Test Bank Cost Accounting 6e by Raiborn and Kinney  14 chapter

Test Bank Cost Accounting 6e by Raiborn and Kinney 14 chapter

The predicted useful life of the equipment is 10 years, with zero scrap value. The equipment will easily serve the same volume that the lunch counter handled. A catering company will completely service and supply the machines. Prices and variety of food and drink will be the same as those that prevailed at the lunch counter. The catering company will pay 5 percent of gross receipts to the Reed Company and will bear all costs of food, repairs, and so forth. The part-time employee will be discharged. Thus, Reed Company’s only cost will be the initial outlay for the machines.
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Test Bank Advanced Accounting 10E by  Beams  02 chapter

Test Bank Advanced Accounting 10E by Beams 02 chapter

Crake Corporation paid $50,000 for a 10% interest in Lagoon Corp. on January 1, 2004, when Lagoon’s stockholders’ equity consisted of $400,000 of $10 par value common stock and $100,000 retained earnings. On December 31, 2005, Crake paid $96,000 for an additional 20% interest in Lagoon Corp. Both of Crake’s investments were made when Lagoon’s book values equaled their fair values. Lagoon’s net income and dividends for 2004 and 2005 were as follows:

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Test bank Advanced Accounting 10e by Beams Chapter 04

Test bank Advanced Accounting 10e by Beams Chapter 04

Financial statements for Owl and Hunt Corporations at the end of the fiscal year ended December 31, 2005 appear in the first two columns of the partially completed consolidation working papers. Owl has accounted for its investment in Hunt using the equity method of accounting. Owl Corporation owed Hunt Corporation $100 on open account at the end of the year. Dividends receivable in the amount of $450 payable from Hunt to Owl is included in Owl’s net receivables.

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Test Bank Advanced Accounting 8E by Baker  04 chapter

Test Bank Advanced Accounting 8E by Baker 04 chapter

9. On January 1, 2008, Blake Company acquired all of Frost Corporation's voting shares for $280,000 cash. On December 31, 2009, Frost owed Blake $5,000 for services provided during the year. When consolidated financial statements are prepared for 2009, which entry is needed to eliminate intercompany receivables and payables in the consolidation workpaper?

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Test Bank Advanced Accounting 3E by Jeter  15 chapter

Test Bank Advanced Accounting 3E by Jeter 15 chapter

8. The two methods used to record changes in partnership membership are (1) the bonus method and (2) the goodwill method. Under the bonus method, assets of the partnership are increased by the amount of the assets invested by the new partner or decreased by the amount of the assets paid to a withdrawing partner. The new (withdrawing) partner's capital account is debited (credited) for the capital interest acquired (the balance in the capital account). Any balancing amount is adjusted to the other partners' capital accounts. Under the goodwill method, an intangible asset is recorded based on the difference between the value implied by the amount of consideration exchanged in the admission or withdrawal of a partner and the capital interest of the new or withdrawing partner.
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Test Bank Advanced Accounting 3E by Jeter  04 chapter

Test Bank Advanced Accounting 3E by Jeter 04 chapter

11. A consolidated statement of cash flows contains two adjustments that result from the existence of a noncontrolling interest: (1) an adjustment for the noncontrolling interest in net income or loss of the subsidiary in the determination of net cash flow from operating activities, and (2) subsidiary dividend payments to the noncontrolling stockholders must be included with parent company dividends paid in determining cash paid as dividends because the entire amount of the noncontrolling interest in net income (loss) is added back (deducted) in determining net cash flows from operating activities.
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Solution Manual and Test Bank Advanced Accounting by Guerrero & Peralta 2 CHAPTER 03

Solution Manual and Test Bank Advanced Accounting by Guerrero & Peralta 2 CHAPTER 03

Cruz capital ................................................. 17,000 (new investment by Cruz brings total capital to P85,000 after 2006 loss [80,000 – 10,000 + 15,000]. Cruz's 20% interest is P17,000 [85,000 x 20%] with the extra P2,000 coming from the two original partners [allocated between them according to their profit and loss ratio].)

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Test bank Advanced Accounting 10e by Beams Chapter 20

Test bank Advanced Accounting 10e by Beams Chapter 20

In a proprietary fund statement of cash flows, cash paid to other funds, except for interfund services used, should be classified as a cash outflow from a?. noncapital financing acti[r]

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Solution Manual and Test Bank Advanced Accounting by Guerrero & Peralta 2 CHAPTER 02

Solution Manual and Test Bank Advanced Accounting by Guerrero & Peralta 2 CHAPTER 02

Net income before salaries and bonus ......... ..................... ....................... P510,000 Less Salaries ................................................ ..................... ....................... 200,000 Net income before bonus ............................ ..................... ....................... 310,000 Net income after bonus (P310,000  125%) ..................... ....................... _248,000 Bonus .......................................................... ..................... ....................... P 62,000

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