ACCT 346 DeVry Week 4 Discussion 2 Incremental Cost Analysis Only those costs that change need be included in the decision making process. Evaluate this statement and discuss its merits or shortcomings. Week 5 Discussion1 Pricing and Capital Investment Decisions – ACCT 346 DeVry Week 5 Discussion 1 Pricing Techniques (graded) Compare target costing and cost-plus pricing. When is each the most appropriate method to use? Provide an example of each. ACCT 346 DeVry Week 5 Discussion 2 Capital Budgeting Techniques (graded) Suppose a company has 5 different capital budgeting projects from which to choose, but has constrained funds and cannot implement all of the projects. Explain why comparing the projects' NPVs is better than comparing their IRRs. ACCT 346 DeVry Week 6 Discussion 1 - Budgeting (graded) How does a company effectively use budgets in the planning and control process? ACCT 346 DeVry Week 6 Discussion 2 Standard Costs and Variance Analysis (graded) What role do standard costs play in controlling the operations of a business? ACCT 346 DeVry Week 7 Discussion 1 Responsibility Centers (graded) Compare and contrast the three types of responsibility centers. What is the best way to evaluate a manager's performance in each type of center? ACCT 346 DeVry Week 7 Discussion 2 Financial Statement Analysis (graded) Why do managers analyze financial statements? What are they looking for? Course Project on Bravo Baking Company - All 6 tabs completed Managerial Accounting Project – Bravo Baking Company Bravo Baking Company began operations in May of 2010 with the production and sales of speciality breads. The company has experienced a good market demand for its high protein, low carbohydrate product called “Hi-Lo”. Hi-Lo’s success has required that Bravo continue to make only this one product, however, Bravo’s customers, the local retailers, have been asking for more specialty breads from the company. The decision to expand will be made in the coming weeks. Due Week 1: Tab 1 Product vs Period Costs Due Week 2: Tab 2 Cost of Goods Manufactured Schedule Due Week 3: Tab 3 Break Even Analysis Due Week 5: Tab 4 Incremental Analysis Due Week 6: Tab 5 Capital Budgeting Due Week 7: Tab 6 Variance Analysis ACCT 346 DeVry Week 3 Quiz ( Version 1) 1. Question : (TCO 2) Bubba’s Crawfish Processing Company uses a traditional overhead allocation based on direct labor hours. For the current year overhead is estimated at $2,250,000 and direct labor hours are budgeted at 415,000 hours. Actual overhead was $2,200,000 and actual direct labor hours worked were 422,000.
a. Calculate the predetermined overhead rate. b. Calculate the overhead applied. c. Determine the amount of overhead that is over/underapplied 2. Question : (TCO 2) Thibodeaux Limousine Corporation is trying to determine a predetermined manufacturing overhead. Estimated overhead for the upcoming year is $776,000. Budgeted machine hours are 105,000 hours, and budgeted labor hours are 17,500 hours at a rate of $10.00 per hour. Compute the predetermined overhead rate based on: a. Direct labor dollars b. Direct labor hours c. Machine hours 3. Question : (TCO 1) List and briefly describe four of the five differences between managerial accounting and financial accounting. 4. Question : (TCO 2) The following information is available for Sappy’s Surgical Shears for the fiscal year ending December 31, 20XX Beginning balance in Finished Goods $ 17,000 Ending balance in Finished Goods 15,200 Beginning balance in Work in Process 2,500 Ending balance in Work in Process 1,836 Selling expenses 123,000 General and administrative expenses 89,000 Direct material cost 54,500 Direct labor cost 66,000 Manufacturing overhead 21,400 Sales 385,000 Prepare a schedule of cost of goods manufactured. 5. Question: (TCO 2) Match each of the following six terms with the phrase that most closely describes it. Each answer below may be used only once. ______ 1. activity-based costing ______ 2. cost of goods available for sale ______ 3. period costs ______ 4. process costing system ______ 5. just-in-time system ______ 6. work in process (A) Costs assigned to the goods produced; also known as manufacturing costs (B) Materials costs that are not traced directly to products produced (C) System that seeks to minimize Raw Materials Inventory and Work in Process Inventory (D) Cost of items that are completed and transferred from Work in Process Inventory to Finished Goods Inventory (E) Costs that are identified with accounting periods rather than with goods produced (F) Actual overhead is greater than overhead that has been applied to products