Assignment Task: Cost Management
Assignment Task 1:
1. Preparation of the San Frenando Fashions' Schedule of Cost of goods manufactured for the year.
2. Preparation of San Fernando fashions' Schedule of cost of goods sold for the year.
3. Preparation of San Fernando Fashions' Income statement for the year.
4. Build a Spreadsheet: Construct an excel Spreadsheets to solve all the preceding requirements. Show both Cost Schedules and Income statements will change if raw material purchased amount to $190000 and direct labour was $20000.
Assignment Task 2:
1. Categorizes each of the cost listed above as to whether it is most likely variable or fixed.
Assignment Task 3:
1. Prepare Huron's Schedule of cost of goods manufactured for 20x2.
2. Prepare Huron's Schedule of cost of goods sold for 20x2.
3. Prepare Huron's Income Statement for 20x2.
4. Build a Spreadsheet: Construct an excel Spreadsheets to solve all the preceding requirements. Show both Cost Schedules and Income statements will change if sales revenue was $2115000, applied manufacturing overhead is $580000 and utilities amount to $78000.
Assignment Task 4:
1. How much of the manufacturing cost incurred during 20x2 remained associated with work in progress inventory on 31 December 20x2?
2. Suppose Company had increased production in 20x2 by 20 percent. Would the direct material cost shown in the schedule have been larger or same? Why?
3. Answer the question as in the requirement (2) for depreciation on factory building?
4. Suppose only half of the $60000 in depreciation on equipment is related to the factory machinery, and other half is related to the selling and administrative equipment. How it would this change the schedule of cost of goods manufactured?
Assignment Task 5:
1. The equivalent unit for material and conversion.
2. The cost per equivalent unit for material and conversion.
3. The assignment of production cost to the October 31 work in progress inventory and to goods transferred.
4. The weighted average unit cost of leather belts completed and transferred. Comment on the company's cost of belt used for planning and control.
5. Discuss the situation citing specific ethical standards for managerial accountant.
Assignment Task 6:
1. Explain How activity based costing differs from the traditional product costing methods.
2. Calculate the total cost of the following activity pools and pool rate per unit.
3. Prepare a table showing for each product line for 20x2.
4. Prepare a budgeted statement showing gross margin for Whitestone Company.
Assignment Task 7:
1. Classify the five costs listed in term of their behaviour: variable, step variable, discretionary fixed cost, committed fixed, step fixed, or semi-variable. Show the calculation to support your answer for mining labour / fringe benefits and royalties.
2. Calculate the total cost when the 1650 tons are extracted in the month of February.
3. Comment on the cost effectiveness of hauling 1500 tons with respect to Anitoch's truck hauling cost behaviour. Can Company have cost effectiveness improved? How?
4. Distinguish between the committed and discretionary fixed cost. If Anitoch were to experience severe economic difficulties, which of the two types of the cost should management try to cut? Why?
5. Speculate as to why the company's charitable cost arises only in December.
Assignment Task 8:
1. Draw a Scatter Diagram of the cost for the material handling department.
2. Visually fit a cost line to the scatter Diagram.
3. Estimate the variable and fixed component of the department cost behaviour pattern using the visually fit cost line.
4. Using your estimate from requirement (3), specify an equation to express department's cost behaviour.
5. Estimate material handling department's cost behaviour using high and low method. Use an equation to express the result of this estimation method.
6. Write a memo to the company's president explaining why cost estimates developed in the requirement (4) and (5) differs.
7. Use each of your cost estimation to make the prediction. Which prediction would you prefer? Why?
Assignment Task 9:
1. Calculate Disk City's breakeven point for the current year in number of Video Disks.
2. What will the company's net income of there is any increase of 10% in the sales Volumes.
3. What Sales Volumes must Disk City achieve in the coming year to maintain the projected net income level for the current year if the selling price is $16?
4. What selling price must Disk city established for the coming year?
5. Build a spreadsheet.
Assignment Task 10:
1. Define Sales mix.
2. Comparing plan A to the current compensation arrangement.
a. Will Plan A achieve management objective of an increased presence in the marketplace? Briefly Explain.
b. From the sales mix perspectives, will the salespeople be promoting the product that one would logically expect? Briefly discuss.
c. Will Sales Force likely be satisfied with the result of Plan A? Why?
d. Will Lawrence be satisfied with the resulting impact of Plan A on Company's profitability? Why?
3. Assume Plan B into Consideration.
a. Compare Plan A and B with respect to the total units sold and the sales mix. Comment on the result.
b. In Comparison to the flat salaries, is Plan B more attractive to the sales force? To the company? Show calculation to support your answer.
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