ACCT 346 DEVRY (Managerial Accounting) Entire Course - 2015

ACCT 346 DEVRY (Managerial
Accounting) Entire Course - 2015
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ACCT 346 DEVRY (Managerial Accounting) Entire Course - 2015
ACCT 346 Weekly Assignment
Week 1
Directions: Your assignment this week is to answer the four questions below. Please
note that Question 4 contains multiple parts. Please show your work for full credit on
Questions 4b - 4e.
1. Identify whether each of the items below is a Product Cost or Period Cost: (1/2 point
each, total 5 points)
Factory insurance Product
Interest on bank loan
Eggs, salt, water used for baking
Depreciation on bake ovens
Paper wrappers for bread
Delivery truck costs
Advertising costs
Factory supervisor salaries
Sales Commissions
Flour used in baking bread

2. Identify whether each of the items below is a Direct Cost or Indirect Cost: (1/2 point
each, total 5 points)
Factory insurance Indirect
Baker's wages
Eggs used for baking
Depreciation on bake ovens
Paper wrappers for bread
Cleaning materials for bake ovens
Utilities used in factory
Factory supervisor salaries
Small amount of salt used
Flour used in baking bread
3. Identify whether each of the below is a Fixed Cost or Variable Cost: (1/2 point each,
total 5 points)
Shipping costs for bread Variable
Cost of fuel for delivery truck
Factory rent
Factory insurance
Maintenance on delivery truck
Sales commissions
Hourly wages paid to baker's assistant
Oven depreciation
Cost of fruit for cake topping
Factory utilities

4. Classify each as direct material, direct labor, indirect labor, indirect labor, other
manufacturing overhead or period cost, and then answer the 5 questions below: 4a.
Classify each cost (the first one is done for you): (5 points total)
An airline manufacturer incurred the following costs last month (in thousands of
dollars): Direct Material Direct Labor Indirect Material Indirect Labor Other
Manufacturing Overhead Period Cost
a. Depreciation on forklifts ........................................................................... $60 $60
b. Property tax on corporate marketing office ............................................. $30
c. Cost of warranty repairs ............................................................................ $220
d. Factory janitors’ wages ............................................................................. $10
e. Cost of designing new plant layout .......................................................... $190
f. Machine operators’ health insurance ....................................................... $40
g. Airplane seats ........................................................................................... $270
h. Depreciation on administrative offices ..................................................... $70
i. Assembly workers’ wages ......................................................................... $670
j. Plant utilities ............................................................................................. $110
k. Production supervisors’ salaries ................................................................ $160
l. Jet engines ................................................................................................ $1,100
m. Machine lubricants .................................................................................... $20
Then, answer the below questions:
4b. How much are total manufacturing overhead costs? (5 points)
4c. How much are total inventoriable product costs? (5 points)
4d. How much are total prime costs? (5 points)
4e. How much are total conversion costs? (5 points)
DeVry University

ACCT346 Weekly Assignment
Week 2
Directions: Your assignment this week is to answer the three questions below. Please
note that Question #3 has 2 parts, Part A and Part B. Please show your work for full
credit and use the box provided. Please add more rows or columns to the box if needed.
1. Biltz Company uses a predetermined overhead rate based on direct labor hours to
allocate manufacturing overhead to jobs. During the year, the company actually
incurred manufacturing overhead costs of $582,000 and 135,000 direct labor hours
were worked. The company estimated that it would incur $525,000 of manufacturing
overhead during the year and that 150,000 direct labor hours would be worked.
By how much was manufacturing overhead overallocated or underallocated for the year?
2. The following account balances at the beginning of January were selected from the
general ledger of Ocean City Manufacturing Company:
Work-in-process inventory $0
Raw materials inventory $28,000
Finished goods inventory $40,000
Additional data:
1) Actual manufacturing overhead for January amounted to $62,000.
2) Total direct labor cost for January was $63,000.
3) The predetermined manufacturing overhead rate is based on direct labor cost. The
budget for the year called for $250,000 of direct labor cost and $350,000 of
manufacturing overhead costs.

4) The only job unfinished on January 31 was Job No. 151, for which total direct labor
charges were $5,200 (800 direct labor hours) and total direct material charges were
$14,000.
5) Cost of direct materials placed in production during January totaled $123,000. There
were no indirect material requisitions during January.
6) January 31 balance in raw materials inventory was $35,000.
7) Finished goods inventory balance on January 31 was $34,500.
What is the cost of goods manufactured for January? Show your work for full credit.
3. Vintage Fun reproduces old-fashioned style roller skates and skateboards. The annual
production and sales of roller skates is 950 units, while 1,750 skateboards are produced
and sold. The company has traditionally used direct labor hours to allocate its overhead
to products. Roller skates require 2.5 direct labor hours per unit, while skateboards
require 1.25 direct labor hours per unit. The total estimated overhead for the period is
$114,300. The company is looking at the possibility of changing to an activity-based
costing system for its products. If the company used an activity-based costing system, it
would have the following three activity cost pools:
3a. What is the predetermined overhead allocation rate using the traditional costing
system?
3b. What is the overhead cost per skateboard using an activity-based costing system?
week 3
ACCT346

Weekly Assignment
Week 3
Directions: Your assignment this week is to answer the two questions below. Please note
that Question #2 has 2 parts, Part A and Part B. Please show your work for full credit
and use the box provided. Please add more rows or columns to the box if needed.
1. Beginning WIP inventory is 15,500 units, 75% complete for materials. During the
month, 90,000 units were started; 87,000 were finished; and ending WIP was 18,500
units that were 50% complete for materials.
How many equivalent units should be used to allocate costs for materials? (Assume that
the weighted average method is used, not FIFO.)
2. During a period, 38,200 units were completed and 4,200 units were in ending WIP
inventory. Ending WIP was 75% complete for direct materials and 50% complete for
conversion costs.
2a. What are the equivalent units for direct materials?
2b. What are the equivalent units for conversion costs?
week 4
DeVryDeVry University

ACCT346 Weekly Assignment
Week 5
Directions: Your assignment this week is to answer the below three questions. Please
note that question #1 has 2 parts, part a and part b and question #2 has 3 parts, part a,
part b and part c. Please show your work for full credit and use the box provided. Please
add more rows or columns to the box if needed.
1. Palmer's Gourmet Chocolates produces and sells assorted boxed chocolates. The unit
selling price is $50, unit variable costs are $25, and total fixed costs are $2,000.
1a. How many boxes of chocolates must Palmer's Gourmet Chocolates sell to breakeven?
1b. What are breakeven sales in dollars?
2. Extreme Sports received a special order for 1,000 units of its extreme motorbike at a
selling price of $250 per motorbike. Extreme Sports has enough extra capacity to accept
the order. No additional selling costs will be incurred. Unit costs to make and sell this
product are as follows: Direct materials, $100; direct labor, $50; variable manufacturing
overhead, $14; fixed manufacturing overhead, $10, and variable selling costs, $2.
2a. List the relevant costs.
2b. What will be the change in operating income if Extreme Sports accepts the special
order?

2c. Should Extreme Sports accept the special order? Why or why not?
3. Totally Technology manufactures Cameras and Video Recorders. The company's
product line income statement follows:
Camera Video Recorder Total
Sales revenue $3,00,000 $1,00,000 $4,00,000
Cost of goods sold
Variable $75,000 $49,000 $1,24,000
Fixed $82,000 $28,000 $1,10,000
Total cost of goods sold $1,57,000 $77,000 $2,34,000
Gross profit $1,43,000 $23,000 $1,66,000
Marketing and administrative expenses
Variable $25,000 $28,000 $53,000
Fixed $32,000 $19,000 $51,000
Total marketing and administrative expenses $57,000 $47,000 $1,04,000
Operating income (loss) $86,000 (24,000) $62,000
Management is considering discontinuing the Video Recorder product line. Accountants
for the company estimate that discontinuing the Video Recorder line will decrease fixed
cost of goods sold by $10,000 and fixed marketing and administrative expenses by
$4,000.
Prepare an analysis supporting your opinion about whether or not the Video Recorder
product line should be discontinued.
UniversiDeVry University

ACCT346 Weekly Assignment
Week 6
Directions: Your assignment this week is to answer the two questions below. Please note
that Question #2 has 2 parts, Part A and Part B. Please show your work for full credit
and use the box provided. Please add more rows or columns to the box if needed.
1. Cave Hardware's forecasted sales for April, May, June, and July are $200,000,
$230,000, $190,000, and $240,000, respectively. Sales are 65% cash and 35% credit
with all accounts receivables collected in the month following the sale. Cost of goods
sold is 75% of sales and ending inventory is maintained at $60,000 plus 10% of the
following month's cost of goods sold. All inventory purchases are paid 22% in the month
of purchase and 78% in the following month.
What are the cash collections budgeted for June?
2. Madden Corporation manufactures t-shirts, which is its only product. The standards
for t-shirts are as follows:
Standard direct labor cost per hour $17
Standard direct labor hours per t-shirt 0.6
During the month of January, the company produced 1,250 t-shirts. Related production
data for the month is as follows:
Actual direct labor hours 770
Actual direct labor cost incurred $13,000

2a. What is the direct labor rate variance for the month? Is it favorable or unfavorable?
2b. What is the direct labor efficiency variance for the month? Is it favorable or
unfavorable?
ty
ACCT346 Weekly Assignment
Week 4
Directions: Your assignment this week is to answer the question below which has four
parts. Please show your work for full credit and use the boxes provided. Please add more
rows or columns to the box if needed.
1. MountainAir Company has the following selected data for the past year:
Units sold during year 30,000
Units produced during year 45,000
Units in ending inventory 15,000
Variable manufacturing cost per unit $4.50
Fixed manufacturing overhead (in total) $20,250
Selling price per unit $12.00
Variable selling and administrative expense per unit $1.00
Fixed selling and administrative expenses (in total) $4,000
There were no units in beginning inventory.
Required:

1a. Prepare an income statement for last year using absorption costing.
1b. Calculate the value of the ending inventory using absorption costing.
1c. Prepare an income statement for last year using variable costing.
1d. Calculate the value of the ending inventory using variable costing.
week 6
DeVry University
ACCT346 Weekly Assignment
Week 6
Directions: Your assignment this week is to answer the two questions below. Please note
that Question #2 has 2 parts, Part A and Part B. Please show your work for full credit
and use the box provided. Please add more rows or columns to the box if needed.
1. Cave Hardware's forecasted sales for April, May, June, and July are $200,000,
$230,000, $190,000, and $240,000, respectively. Sales are 65% cash and 35% credit
with all accounts receivables collected in the month following the sale. Cost of goods
sold is 75% of sales and ending inventory is maintained at $60,000 plus 10% of the
following month's cost of goods sold. All inventory purchases are paid 22% in the month
of purchase and 78% in the following month.
What are the cash collections budgeted for June?

2. Madden Corporation manufactures t-shirts, which is its only product. The standards
for t-shirts are as follows:
Standard direct labor cost per hour $17
Standard direct labor hours per t-shirt 0.6
During the month of January, the company produced 1,250 t-shirts. Related production
data for the month is as follows:
Actual direct labor hours 770
Actual direct labor cost incurred $13,000
2a. What is the direct labor rate variance for the month? Is it favorable or unfavorable?
2b. What is the direct labor efficiency variance for the month? Is it favorable or
unfavorable?
week 7
DeVry University
ACCT346 Weekly Assignment

Week 7
Directions: Your assignment this week is to answer the four questions below. Please
note that Question #1 has 2 parts, Part A and Part B. Please show your work for full
credit and use the box provided. Please add more rows or columns to the box if needed.
1. Gomez Corporation is considering two alternative investment proposals with the
following data:
Proposal X Proposal Y
Investment $8,50,000 $4,68,000
Useful life 8 years 8 years
Estimated annual net $1,25,000 $78,000
cash inflows for 8 years
Residual value $40,000 $ -
Depreciation method Straight-line Straight-line
Required rate of return 14% 10%
1a. How long is the payback period for Proposal X?
1b. What is the accounting rate of return for Proposal Y?
2. You have been awarded a scholarship that will pay you $500 per semester at the end
of each of the next 8 semesters that you earn a GPA of 3.5 or better. You are a very
serious student and you anticipate receiving the scholarship every semester. Using a
discount rate of 3% per semester, which of the following is the correct calculation for

determining the present value of the scholarship? PLEASE STATE WHY YOU CHOSE
THE ANSWER THAT YOU DID.
A) PV = $500 × 3% × 8
B) PV = $500 × (Annuity PV factor, i = 3%, n = 8)
C) PV = $500 × (Annuity FV factor, i = 6%, n = 4)
D) PV = $1,000 × (PV factor, i = 3%, n = 4)
3. Maersk Metal Stamping is analyzing a special investment project. The project will
require the purchase of two machines for $30,000 and $8,000 (both machines are
required). The total residual value at the end of the project is $1,500. The project will
generate cash inflows of $11,000 per year over its 8-year life.
If Maersk requires a 6% return, what is the net present value (NPV) of this project? (Use
present value tables or Excel.)
4. Hincapie Manufacturing is evaluating investing in a new metal stamping machine
costing $30,924. Hincapie estimates that it will realize $12,000 in annual cash inflows
for each year of the machine's 3-year useful life.
Approximately, what is the the internal rate of return (IRR) for the machine? (Use
present value tables or Excel.
ACCT 346 All Discussions - Latest 2015
ACCT 346 Week 1 DQ 1 Ethics and Ethical Behavior
ACCT 346 Week 1 DQ 2 Managerial and Financial Accounting
ACCT 346 Week 2 DQ 1 Job-Order Costing
ACCT 346 Week 2 DQ 2 Process Costing

ACCT 346 Week 3 DQ 1 Cost-Volume-Profit Analysis
ACCT 346 Week 3 DQ 2 Variable Costing and Full Costing
ACCT 346 Week 4 DQ 1 Activity-Based Costing
ACCT 346 Week 4 DQ 2 Incremental Cost Analysis
ACCT 346 Week 5 DQ 1 Pricing Techniques
ACCT 346 Week 5 DQ 2 Capital Budgeting Techniques
ACCT 346 Week 6 DQ 1 Budgeting
ACCT 346 Week 6 DQ 2 Standard Costs and Variance Analysis
ACCT 346 Week 7 DQ 1 Responsibility Centers
ACCT 346 Week 7 DQ 2 Financial Statement Analysis
ACCT 346 Project Bravo Baking Company
ACCT 346 Quiz Week 3
ACCT 346 Quiz Week 6
ACCT 346 Midterm New-Updated
ACCT 346 Final Exam - LATEST
Question 1.1. (TCO 1) How does managerial and financial accounting differ
in terms of the amount of detail presented and nonmonetary and monetary
information? (Points : 15)

Question 2.2. (TCO 2) What is an indirect labor cost? What is an example of
an indirect labor cost? (Points : 15)
Question 3.3. (TCO 3) What is the difference between job order and process
costing? (Points : 15)
Question 4.4. (TCO 4) What is a fixed cost? What is an example of a fixed
cost? (Points : 15)
Question 1.1. (TCO 5) What is full costing? How does it differ from variable
costing? (Points : 15)
Question 2.2. (TCO 6) What is the first step in the cost allocation process?
What is done in this step? (Points : 15)
Question 3.3. (TCO 7) What is an incremental cost? What is an example of
one? (Points : 15)
Question 4.4. (TCO 8) What is activity-based pricing? How is the price
determined? (Points : 15)
Question 1.1. (TCO 6) Name the steps in the ABC approach. Describe each
of them. Which do you think is the most important step? Why? (Points : 30)
Question 2.2. (TCO 7) Products Kappa and Sigma are joint products. The
joint production cost of the products is $800. Kappa has a market value of
$450 at the split-off point. If Kappa is further processed at an additional
cost of $600, its market value is $1,400. Product Sigma has a market value
of $1,150 at the split-off point. If Product Sigma is further processed at an
additional cost of $300, its market value is $1,400. Using the relative sales
value method, calculate the joint product cost that would be allocated to
Kappa and Sigma. How do you know if one of the products should be
further processed?
(Points : 30)

Question 3.3. (TCO 8) A company must incur annual fixed costs of
$4,000,000 and variable costs of $400 per unit and estimates that it can
sell 40,000 pumps annually and marks up cost by 30 percent. Using costplus
pricing, what is the cost per unit and the price? What are advantages
and disadvantages of cost-plus pricing?(Points : 30)
Question 1.1. (TCO 9) A project will require an initial investment of
$250,000 and will return $50,000 each year for seven years. If taxes are
ignored and the required rate of return is 9%, what is the project's net
present value? Based on this analysis, should the company proceed with the
project? (Points : 30)
Question 2.2. (TCO 10) Why does a company perform ratio analysis? What
are the debt-related ratios? Describe the formula for one debt-related ratio
and explain how to interpret the ratio. (Points : 30)
Question 1. Question :
(TCO 1) Who are the users of managerial accounting
information? How does their use of accounting information
differ from the users of financial accounting information?
(TCO 2) What is an indirect labor cost? What is an example of an indirect
labor cost?
TCO 3) What is job-order costing? What type of company would us joborder
costing?
(TCO 4) What is a variable cost? What is an example of a variable cost?
(TCO 5) What is full costing? How does it differ from variable costing?

(TCO 6) Explain why companies might choose to allocate the costs of their service
departments (ie. Human Resources, Maintenance, Mailroom, etc...) to their production
departments. Also describe some typical bases companies use to base their allocations
on. Last, what should a company be mindful of when analyzing the profitability of
segments that have allocated costs.
(TCO 7) What is an incremental cost? What is an example of one?
(TCO 8) What is cost plus pricing? How does the company determine the profit level?
Gina's Boutique makes custom jewelry. One item, the guru necklace, is a best seller and
sales in units for the first quarter are as follows:
Acme Fireworks uses a traditional overhead allocation based on direct labor hours. For
the current year overhead is estimated at $1,000,000 and direct labor hours are budgeted at
200,000 hours. Actual hours worked were 195,000 and actual overhead was $978,000.
Question :
(TCO 9) A project will require an initial investment of
$300,000 and will return $75,000 each year for eight years. If
taxes are ignored and the required rate of return is 9%, what is
the project's net present value? Based on this analysis, should
the company proceed with the project?