Demonstration problem barfield raiborn kinney cost accounting 2 ppt
Demonstration problem barfield raiborn kinney cost accounting_1 docx
... 15,000 15 22 ,500 2 210,000
Total $40 $20 0,000 $66 $ 99,000 $20 $2, 100,000 (2, 399,000)
Product line income or (loss) $ 50,000 $ (31,500) $2, 100,000 $2, 118,500
Organizational-level costs (181 ,25 0)
Net ... “fit” the data.
$770,898.53
ᎏᎏ
21 ,914,410 .29
11,807,800 Ϫ 7(6 ,22 8.57)( $25 3.14)
ᎏᎏᎏᎏ
29 3,480,000 Ϫ 7(6 ,22 8.57)(6 ,22 8.57)
Chapter 3 Organizational Cost Flows
109
actua...
Demonstration problem barfield raiborn kinney cost accounting_2 ppt
... inspections 2, 500 12, 500 15,000
Rate per inspection ($300,000 Ϭ 15,000) ϫ $20 ϫ $20 ϫ $20
Quality inspection cost $ 50,000 $25 0,000 $300,000
Total traceable overhead costs $22 0,000 $28 0,000 $500,000
b. ... $1,600,000 $1,400,000
Direct costs $1 ,25 0,000 $ 600,000
Overhead 22 0,000 28 0,000
Total costs $1,470,000 $ 880,000
Margin $ 130,000 $ 520 ,000
Chapter 4 Activity-Based Cost...
Demonstration problem barfield raiborn kinney cost accounting_3 docx
... Applied Overhead Total Cost
167 $ 17,703 $ 6, 920 $ 7,960 $ 32, 583
169 54,936 7 ,24 0 8, 328 70,504
170 1 ,21 8 2, 000 2, 300 5,518
171 154 ,21 5 28 ,500 43,700 22 6,415
1 72 28,845 2, 200 2, 5 32 33,577
To explain ... production.
Part 2 Systems and Methods of Product Costing
24 2
KEY TERMS
cost of production report (p. 22 9)
equivalent units of production (EUP)
(p. 22 2)
FI...
Demonstration problem barfield raiborn kinney cost accounting_4 doc
... for 17,000 16 ,25 0 15, 625
COST DATA
Total Material Conversion
Beginning inventory costs $ 16, 620 $ 15,000 $ 1, 620
Current costs 122 ,175 1 02, 750 19, 425
Total costs $138,795 $117,750 $21 ,045
Divided ... 16 ,25 0 15, 625
Cost per FIFO EUP $8.60 $7 .25 $1.35
COST ASSIGNMENT
Transferred (13 ,20 0 ϫ $8.60) $113, 520
Ending inventory:
Material (2, 500 ϫ $7 .25 ) $18, 125
Conversio...
Demonstration problem barfield raiborn kinney cost accounting_5 docx
... ϭ (Y )(r) ϭ (1 ,20 0)($5) ϭ $6,000
W ϭ (D
r
)(w) ϭ (400)($8) ϭ $3 ,20 0
F ϭ Z ϩ R ϩ W ϭ $13,000 ϩ $6,000 ϩ $3 ,20 0 ϭ $22 ,20 0 total failure cost
T ϭ K ϩ A ϩ F ϭ $40,000 ϩ $7 ,20 0 ϩ $22 ,20 0 ϭ $69,400 ... beginning of the process.
COSTS
Material Conversion Total
Beginning inventory $ 30,000 $ 3,600 $ 33,600
Current period 885, 120 335,088 1 ,22 0 ,20 8
Total costs $915, 120 $338,688 $1 ,...
Demonstration problem barfield raiborn kinney cost accounting_6 docx
... steaks 1,794 tons $2, 800 $ 5, 023 ,20 0
Roasts 1,160 tons 1,800 2, 088,000
Ground 1 ,26 0 tons 1 ,20 0 1,5 12, 000
Filet mignon 1,986 tons 3,400 6,7 52, 400
Marinated cuts 1 ,22 0 tons 2, 200 2, 684,000
Sausage ... inventory 26 0 28 0 300
Tons completed (assumed) 2, 006 1 ,24 0 1,540
Tons available 2, 266 1, 520 1,840
Tons sold 1,986 1 ,22 0 1,500
Ending inventory 28 0 300 340
ϫ FIFO...
Demonstration problem barfield raiborn kinney cost accounting_7 ppt
... ϫ 26 2.50 ϭ $13, 125 Applied OH
Actual OH ϩ 10,000 (SP ϫ SQ)
$24 ,370 $23 , 125 $90 ϫ 26 2.50 ϭ $23 , 625
$1 ,24 5 U $500 F
Budget Variance Volume Variance
Applied OH
Actual OH SP ϫ SQ
$24 ,370 $90 ϫ 26 2.50 ... ($6.80 ϫ 0 .2) $1.36 F $ 7.77
DL 4.10 [ $2. 10 ϫ (22 /60)] 0.77 U [$ 12. 30 ϫ (2/ 60)] 0.41 U 5 .28
$ 12. 26 $13.05
COMPARISON OF 20 01 ACTUAL COSTS
Average
1st Quarter % Incr...
Demonstration problem barfield raiborn kinney cost accounting_8 doc
... Margin $ 52, 380 $ 46,608 $ 58,1 52 $157,140
Operating Expenses
Selling and administrative (9,540) (8, 820 ) (10 ,26 0) (28 , 620 )
Income before Tax $ 42, 840 $ 37,788 $ 47,8 92 $ 128 , 520
VARIABLE COSTING ... 75 ,24 0 $20 5 ,20 0
Variable Selling Expenses
($0 .24 ϫ units sold) (7 ,20 0) (6,480) (7, 920 ) (21 ,600)
Total Contribution Margin $ 61 ,20 0 $ 55,080 $ 67, 320 $183,600
Fixed Ex...
Demonstration problem barfield raiborn kinney cost accounting_9 ppt
... X
1
X
2
A 0 0 CM ϭ $25 (0) ϩ $9(0) ϭ $0
B 425 0 CM ϭ $25 ( 425 ) ϩ $9(0) ϭ $10, 625
C 0 850 CM ϭ $25 (0) ϩ $9(850) ϭ $7,650
Part 3 Planning and Controlling
526
Objective Function: MAX CM ϭ 25 X
1
ϩ 9X
2
Constraints ... 520 ,000
Administration 700,000 420 ,000 22 0,000 60,000
Variable costs 2, 900,000 1,330,000 850,000 720 ,000
Allocated home office costs 1,000,000 450,000 350,000 2...
Demonstration problem barfield raiborn kinney cost accounting_10 pdf
... 74,450 22 4 ,20 0
ϫ Standard hours allowed .005 .005 .005 .005
ϭ Total hours allowed 397.5 351 .25 3 72. 25 1, 121
ϫ Average wage rate
(including fringe cost) ϫ $ 12 ϫ $ 12 ϫ $ 12 ϫ $ 12
ϭ Direct labor cost $ ... 78,575 70,670 73,455 22 2,700
METAL PURCHASES
Finished units 78,575 70,670 73,455 22 2,700
ϫ Ounces needed per unit ϫ 4 ϫ 4 ϫ 4 ϫ 4
ϭ Total ounces to be purchased 314,300...