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Acc 400 Week 2 Textbook Essay

1771 words - 8 pages

Week 2 Assignment from the textbook
Nancy Schwartz
ACC/400
February 1, 2016
Lee Kroll
E17.15
Spear Custom Furniture uses an activity-based cost accounting system to apply overhead to production. The company maintains four overhead cost pools. The four cost pools, and their budgeted amounts for the upcoming period, are as follows:

Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . $40,000
Materials handling . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000
Set-ups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...view middle of the document...

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . $15,000
Number of machine hours . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Number of material moves . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Number of set-ups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . . . . . 4
Number of inspections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2

a. Estimate the total cost of manufacturing the tables for Cosmopolitan University.

$34,700 Broken down: Direct materials = $14,000
Direct labor = $15,000
Maintenance = $4,000 (40,000*60/600)
Materials handling = $1,000 (20,000*20/400)
Set-ups = $400 (10,000*4/100)
Quality control = $300 (45,000*2/300)
Total = $34,700

b. Determine the company’s bid price if bids are based upon the total estimated manufacturing cost of a particular project, plus 75 percent.

$34,700 + $26,025= $60,725

Broken down: 34,700 * 75% = 26,025 + 34,700 = 60,725

E18.10
Accessory World makes floor mats for the automobile industry. Finished sets of mats must pass
through two departments: Cutting and Coating. Large sheets of synthetic material are cut to size in the Cutting Department and then transferred to the Coating Department, where each set is sprayed with a chemical coating for improved durability. The following information pertains to May activity in the Cutting Department:
Cost data:
Total cost of beginning inventory on May 1 . . . . . . . . . . . . . . . . . ... . . . . . $ 44,800
Direct materials costs incurred in May. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . 200,000
Conversion costs incurred in May . . . . . . . . . . . . . . . . . . . . . . . . . . . … . . . . 87,200
Physical units data:
Units in process, May 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. . ..… . . . . . 8,000 sets
Units started in May . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . . . . . . . . . 50,000 sets
Units in process, May 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . … . . . . . . . . 10,000 sets
Percentage of completion data:
Direct materials, May 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . …… . . . . . . . 100%
Conversion, May 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . …..… . . . . . . 80
Direct materials, May 31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . …... . . . . . 100%
Conversion, May 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . …..… . . . . . 20

a. Prepare a schedule showing: (1) the number of mat sets transferred from the Cutting Department to the Coating Department in May, and (2) the number of mat sets started and completed by the...

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