Managerial Accounting Problems

Anonymous
timer Asked: Dec 19th, 2018
account_balance_wallet $15

Question description

Please find the attached excel file required for my assignment.

At least one external source should be cited, not including course textbook.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

You are required to submit this assignment to LopesWrite. Refer to the LopesWrite Technical Support articles for assistance.

Revised Problem 3-47 JLR Enterprises provides consulting services throughout California and uses a job-order costing system to accumulate the cost of client projects. Traceable costs are charged directly to individual clinets; in contrast, other costs incurred by JLR, but not identifiable with specific clients, are charged to jobs by using a predetermined overhead application rate. Clients are billed for directly chargeable costs, overhead, and a markup. JLR's direct of cost management, Brent Dean, anticipates the following costs for the operating year: Cost Professional staff salaries Administrative support staff Travel Photocopying Other operating costs Total 4,750,000 500,000 300,000 100,000 200,000 5,850,000 % of Cost Directly Traceable to Clients 80% 80% 40% 60% 60% The firm's partners desire to make a $900,000 profit for the firm and plan to add a percentage markup on total cost to achieve that figure. On March 10, JLR completed work on a project for Martin Manufacturing. The following costs were incurred; professional staff salaries $48,000; administrative support staff, $3,400; travel, $5,000; photocopying, $600; and other operating costs, $3,000. Required: 1 2 3 4 5 Determine JLR's total traceable costs for the upcoming year and the firm's total anticipated overhead. Calculate the predetermined overhead rate. The rate is based on total costs traceable to client jobs. What percentage of cost will JLR add to each job to achieve its profit target? Determine the total cost of the Martin Manufacturing project. How much would Martin be billed for servic Notice that only 60 percent of JLR's other operating cost is directly traceable to specific client projects. Cite several costs that would be included in this category and difficult to trace to clients. 6 Notice that 80 percent of the professional staff cost is directly traceable to specific client projects. Cite several costs reasons that would explain why this figure isn't 100 percent. uld Martin be billed for services performed? Revised Problem 2-37 *You may submit answer exclusively in MS Excel format. Problems Consider the following cost items: 1 2 3 4 5 6 7 8 9 10 11 Marketing costs at Geico End of year production in process at Intel microchip factory. Employee salaries at Microsoft. The cost of products sold to distributors of television manufacturer Vizio electronics. Costs incurred during the period to insure a Michelin tire plant against fire and flood losses. Officer compensation costs at General Electric Depreciation for the current fiscal year for a Southwest Airline jet. The cost of printer ink and paper used during the period by Hallmark cards. Year-end completed products of Apple I-phones. Assembly-line wage cost incurred at a Harley Davidson factory. The cost of products sold to customers at a Best Buy store. Required: 1 Evaluate the costs just cited, and determine whether the associated dollar amounts would be found on the firm's balance sheet, income statement, or schedule of cost-of-goods-manufactured. (Note: In some cases, more than one answer will apply.) 2 What major asset will normally be insignificant for service enterprises and relatively substantial for retailers, wholesalers, and manufacturers? Briefly discuss. 3 Briefly explain the major differences between income statements of service enterprises versus those of retailers, wholesalers, and manufacturers. ts would be found ly substantial prises versus Sample walk-through problem#4 Yummy breakfast cereals has the following data below for month of March: Conversion activity occurs uniformly throughout the production process. Work in process, Mar 1 - 20,000 units: Direct material: 100% complete, cost of Conversion: 30% complete, cost of Balance in work in process, Mar 1 Units started during March Units completed during March and transferred out to finished-goods inventory $ $ 30,000 5,000 35,000 80,000 60,000 $ 200,000 $ 50,000 100,000 150,000 Work in process, March 31st: Direct material: 100% complete Conversion: 40% complete Cost incurred during March: Direct material Conversion costs: Direct labor Applied manufacturing overhead Total Conversion Costs Prepare schedules to accomplish each of the following process-costing steps for the month of March. Use the weighted average method of process costing. 1. Analysis of physical flow of units. 2. Calculation of equivalent units. 3. Computation of unit costs. $ 1. Analysis of physical flow of units Physical Units 2. Calculation of equivalent units Physical Units Total equivalent units 3. Computation of unit costs Work in process, beg bal Costs incurred during month Total costs to account for Equivalent units Cost per equivalent unit % Completion for Conversion Equiv Units Direct Material - Direct Material Equiv Units Conversion - Conversion Total assignment should be submitted in word doc Revised Problem 4-29 Moravia Company processes and packages cream cheese. The following data have been compiled for the month of June. Conversion activity occurs uniformly throughout the production process. Work in process, June 1 - 60,000 units: Direct material: 100% complete cost of Conversion: 30% complete, cost of Balance in work in process, June 1 Units started during June Units completed during June and transferred out to finished-goods inventory Work in process, June 30: Direct material: 100% complete Conversion: 80% complete Costs incurred during June: Direct material Conversion costs: Direct labor Applied manufacturing overhead Total conversion costs Required: Prepare schedules to accomplish each of the following process-costing steps for the month of June. Use the weighted-average method of process costing. 1. Analysis of physical flow of units. 2. Calculation of equivalent units. 3. Computation of units costs. 4. Analysis of total costs. 5. Construct an Excel spreadsheet and show all of the preceding requirements Show how the solution would change if the following data change: June 1 work-in-process costs were $84,000 for direct material and $26,000 for conversion. 110,000 43,000 153,000 180,000 210,000 420,000 93,250 283,400 376,650 teps for the month

Tutor Answer

Melodyh
School: University of Maryland

kindly fin...

flag Report DMCA
Review

Anonymous
Only issue was the guy's response time which was a bit long, which made me a bit anxious. Reached out to the help desk and they helped me out, turns out the tutors aren't all from US which meant there was a time difference. No issues on the quality.

Similar Questions
Hot Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors