# Cost Accounting Questions

Sigchi4life
Category:
Accounting
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Question description

 1)   Jack and Jill Manufacturing Inc. began the year with the following.
 Units Beginning work-in-process 30,000 30% complete Transferred to finished goods 50,000 Ending inventory 5,000 60% complete
 Materials added at the beginning of the process.
 Required: Calculate the equivalent units for the following.
 a. Materials costs under the weighted average process cost method b. Conversion costs under the weighted average process cost method c. Materials costs under the FIFO process cost method d. Conversion costs under the FIFO process cost method

2)

Bones Company manufactures two products (X and Z).

 Overhead costs have been divided into three cost pools that use the following activity drivers.
 Product # of Setups Machine Hours Packing Orders X 20 1,000 50 Z 20 3,000 150 Cost per Pool \$40,000 \$75,000 \$25,000
 a. What is the allocation rate for Product Z per setup using activity-based costing? b. What is the allocation rate for Product Z per machine hours using activity-based costing? c. What is the allocation rate for Product Z per packing order using activity-based costing?
3)

Household Manufacturing Inc. sells its product for \$45 each.

 Sales volume averages 2,000 units per year.
 Recently, its main competitor reduced the price of its product to \$30.
 Maximum expects sales to drop dramatically unless it matches the competitor's price.
 In addition, the current profit per unit must be maintained. Information about the product (for production of 2,000) is as follows:
 Standard Quantity Actual Quantity Actual Cost Materials (pounds) 3,200 3,500 \$35,000 Labor (hours) 900 1,000 \$30,000 Setups (hours) 0 125 \$3,000 Material handling (moves) 0 200 \$4,000 Warranties (number repaired) 0 450 \$11,000 Required:
 a. Calculate the target cost for maintaining current market share and profitability.
 b. Calculate the non-value-added cost per unit.
 c. If non-value-added costs can be reduced to zero, can the target cost be achieved?

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