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1 #MC# Which of the following statements is true for budgeting? Establishing plans and actions; a system of resource allocation; and a base of risk identification, operational coordination and business performance measurement and evaluation as well Determining resources and how to use the resources in a firm’s production and business activities in each period Determining the revenues, expenses and operating profits of a firm in each period Determining the cash inflow and cash outflow of a firm in each period #MC# Johnny Company, a retailer, is preparing budgets for the year ended December 20x1 Budgeted sales volumes for the first months of the year are as follows: Month Sales volume Month Sales volume (units) (units) January 2,000 May 7,000 February 3,000 June 8,000 March 5,000 July 9,000 April 6,000 August 10,000 All sales are on account with 50% collected in the month of sale, 30% collected in the month following sale and 20% collected in the next month following sale The unit selling price is estimated to be $2,000 during the year Which of the following statements is true? Expected cash collection in March will be $5,000,000 Expected cash collection in April will be $9,000,000 Expected cash collection in May will be $12,600,000 Expected cash collection in June will be $12,200,000 Mar: 2,000*0.2 + 3,000*0.3 + 5,000*0.5 = 7,600,000 April: 3,000*0.2 + 5,000*0.3 + 6,000*0.5 = 10,200,000 May: 5,000*0.2 + 6,000*0.2 + 7,000*0.5 = 12,600,000 June: 6,000*0.2 + 7,000*0.3 +8,000*0.5 = 14,600,000 #MC# Miller Corporation, a manufacturer, is preparing budgets for the year ended December 20x1 Budgeted sales volumes for the first months of the year are as follows: Month Sales volume Month Sales volume (units) (units) January 2,000 May 7,000 February 3,000 June 8,000 March 5,000 July 9,000 April 6,000 August 10,000 The management at Miller wants finished goods inventory at the end of each month to be equal to 10% of the following month’s budgeted sales volume Which of the following statements is true? Finished goods inventory at the beginning and ending of the second quarter are 2,100 units and 2,400 units respectively The number of units need to be produced in April is 6,100 units The number of units need to be produced in May is 7,800 units The number of units need to be produced in June is 8,900 units a) Beginning inv of 2nd quarter = beg inv of april = end inv of mar = 10%*sales volume of april = 10%*6000 = 600 units b) Unit produced = total needs – beginning inv = units for sales + units for ending – beginning inv = 6000 + 10%*7000 – 10%*6000 = 6100 units Beginning of april = ending of march = 10%*6000 c) 7000 + 10%*8000 – 10%*7000 = 7100 units d) 8000 + 10*9000 – 10%*8000 = 8100 units #MC# Wonderland Corporation manufactures a single product and has budgeted production volume of this product over the next months as follows: Month Production Month Production volume (units) volume (units) March 2,100 June 5,100 April 3,100 July 6,100 May 4,100 August 7,100 Standard direct material cost is kgs/unit x $20/kg Past experience has shown that materials on hand at the end of each month equal to 10% of materials required for the following month’s production Which of the following calculation is true? Materials on hand at the beginning of the second quarter is 6,150 kgs Materials on hand at the ending of the second quarter is 7,650 kgs Materials need to be purchased in the second quarter is 61,500 kgs Materials need to be purchased in the second quarter is 63,000 kgs a) materials beginning april = materials ending Mar = 10%*materials needed for production of april = 10%*3100u*5kg/u = 1550 kgs b) materials ending june = 10%*6100u*5kg/u = 3050 kgs c) materials purchased in 2nd quarter = materials needed for production pf 2nd Q - materials ending 2nd Q + materials beginning 2nd Q = (3100 + 4100 + 5100)u*5kg/u – 1550 + 3050 = 63000 kgs => D #MC# Sandy Corporation is preparing the budgeted revenues and costs for the year ended December 20x2 as follows: Month Revenues ($) Costs ($) March 5,000,000 2,000,000 April 7,000,000 3,000,000 May 6,000,000 5,000,000 June 8,000,000 6,000,000 All sales are on account with 30% collected in the month of sale and 70% collected in the month following sale The cost incurred in a month has the cash outflow in the month and the next month is 60% and 20% respectively Assume that the company does not have any cash at the beginning of a month Choose the correct answer: Expected cash collection in May is $4,900,000 Expected cash disbursement in May is $3,000,000 Total cash excess in May is $1,900,000 Total cash excess in May is $3,100,000 Cash collection in May = 70%*7,000,000 + 30%*6,000,000 = 6,700,000 => A sai Cash disbursement in May = 20%*3,000,000 + 60%*5,000,000 = 3,600,000 => B sai Cash excess in May = cash available - Cash disbursement = beg cash + cash collection - Cash disbursement = (0 + 30%*6,000,000 + 70%*7,000,000) – (20%*3,000,000 + 60%*5,000,000) = 3,100,000 => C sai, D correct #MC# Which of the following statements shows the difference between a flexible budget and a static budget? Differences in resources estimated to use for production and business activities Differences in standard cost used to estimate total production and operating costs Differences in the approach to estimate the operating profit Differences in the level of activities used to estimate resources, costs and operating profits #MC# Henry Company uses a standard cost system to plan and control the production cost of product X in June The standard direct materials cost for each unit of product X is $200/unit (8 kgs/unit *$25/kg) The estimated production volume for the month is 80,000 units In June, Henry Company bought and used 350,000 kgs of materials with a purchase price of $28/kg to produce 70,000 units Which of the following statements is correct? Activity variance for direct material costs is $2,000,000 (adverse) Spending variance for direct material costs is $4,200,000 (adverse) Total direct material cost variance (actual costs versus static budgeted costs) is $6,200,000 (adverse) Both activity variance and spending variance for direct material costs are favorable activity variance = flexible budget – static budget = 70000u*8kg*$25 – 80000u*8kg*$25 = -2,000,000 (F) b) spending variance = actual result - flexible budget = 350,000kg*$28/kg - 70000u*8kg*$25 = -4,200,000 (F) c) total variance = -2,000,000 (F) + -4,200,000 (F) = -6,200,000 (F) => D correct a) #MC# Which of the following is a limitation on the use of standard cost system as a tool to evaluate management performance at the business units? It is difficult for business units to attain the standard cost when they have to adjust to increase the production volume When business units reduce the production volume, the favorable cost variance does not accurately reflect their cost management performance because no matter how the business units control costs, they always fulfill the cost standard well It is unfair to use the standard cost system to evaluate management performance in different business units When business units are too focused on achieving the standard cost, it can lead to conservatives who not accept the arising of new costs and the costs associated with quality and productivity improvement, results in the decrease in competition capacity chapter #MC# Tony Company uses a standard cost system to plan and control the production cost of product Y in July The standard direct materials cost for each unit of product Y is $25/unit (5 metres/unit *$5/metre) The estimated production volume for the month is 10,000 units In July, Tony Company used 48,000 metres of direct material to produce 8,000 units with a purchase price of $4.5/metre Which of the following statements is correct? Quantity variance of direct material cost is $40,000 (unfavorable) Price variance of direct material cost is $24,000 (unfavorable) Total direct material cost variance is $16,000 (favorable) All variance of direct material cost including quantity variance, price variance and total variance are favorable Quantity variance = (48,000m – 8,000u*5m/u)*$55/m = $40,000 (U) = (AQ – SQ)*SP Price variance = 48,000m*($4.5/m - $5/m) = $-24,000 (F) = AQ*(AP - SP) Total variance = $40,000 (U) + $-24,000 (F) = $16,000 (U) 10 #MC# Andy Garment Corporation uses a standard cost system to plan and control the garment costs of product Z in June The standard direct materials cost for each unit of product Z is $100/unit (4 metres/unit *$25/metre) The estimated production volume for the month is 80,000 units In June, the Corporation bought 400,000 metres with a purchase price of $28/metre and only used 300,000 metres to produce 60,000 units Which of the following statements is correct? Direct material cost variance due to the change in production volume is adverse with the increase in direct material cost of $2,000,000 Direct material cost variance due to the change in the direct material cost per unit (spending per unit) is favorable with the decrease in direct material cost of $2,400,000 Direct material cost variance due to the change in the material usages is favorable with the decrease in direct material cost of $1,500,000 Direct material cost variance due to the change in the price of material is adverse with the increase in direct material cost of $1,200,000 a) activity variance = (60,000u – 80,000u)*$4m/u*$25/m = -2,000,000 (F) (CHAPTER 2) b) spending variance = actual cost – flexible budget cost (chap2) = actual units*(actual cost/u – standard cost/u) = 60,000u*(5m/u - $4/m*$25/m) = 2,400,000 (U) c) quantity variance = (AQ – SQ)*SP = (300,000m – 60,000u*4m/u)*$25/m = 1,500,000 (U) d) price variance = AQp*(AP – SP) = 400,000*(28-25) = 1,200,000 (U) AQp : materials purchased 11 #MC# Which of the following decisions falls within the rights and responsibilities of an investment center manager in a decentralized organization? Deciding the production costs incurred in the period at the production department Deciding the revenues and selling costs incurred in the period at the selling department Deciding the revenues and total costs incurred in the period at the business units Deciding the capitals and their profitability invested in the projects of expanding production plants 12 #MC# Company AB has two segments, segment X and segment Y Which of the following changes will not affect their segment margin on the segment report Increasing the selling price and variable costs in each segment Rearranging the decentralized and hierarchical management system in the company Changing the internal transfer pricing method of products from division X to division Y, specifically changing from cost-based pricing to market-based pricing Increasing common fixed costs and changing allocation bases of common fixed costs which belongs to the responsibility of the general director 13 #MC# Anthony Company has following information related to the Investment Center managed by its manager – Kenny Year X Year X+1 Revenue 2,000,000 4,000,000 Variable cost to sales ratio 70% 80% Segment fixed costs 200,000 400,000 Allocated common fixed costs 100,000 200,000 Average total assets 2,000,000 2,500,000 Minimum desired ROI 8% 10% Over the past two years, Kenny has contributed to an increase in the profit margin of his segment by 10% caused a decrease in the asset turnover of his segment by 0.6 rounds contributed to an increase in the ROI of his segment by 4% caused a decrease in the residual income of his segment by $90,000 a) profit margin = segment margin/sales revenue year X = (2,000,000*30% - 200,000)/2,000,000 = 20% year X+1 = (2,500,000*20% - 400,000)/4,000,000 = 10% b) assest turnover (X) = 2,000,000/2,000,000 = assest turnover (X+1) = 4,000,000/2,500,000 = 1.6 c) ROI (X) = segment margin/investment = (CM – segment FC)/ investment = (2,000,000*30% - 200,000)/2,000,000 = 20% ROI (X+1) = (4,000,000*20% - 400,000)/2,500,000 = 16% d) RI = = (2,000,000*30% - 200,000 – 8%*2,000,000) = 240,000 RI = (4,000,000*20% - 400,000 – 10%*2,500,000_ = 150,000 14 #MC# Benny Company bases on ROI to research and choose a business plan Currently, in the year X, the company has the following data: Production volume 10,000 units Selling price per unit $4,000/unit Variable costs per unit $3,200/unit Total fixed costs $6,000,000 Average total assets $20,000,000 Next year, in order to increase the return on investment (ROI) by 5%, the company plans to increase some items like the selling price by 8%, variable costs per unit by 10%, total fixed costs by 20%, sales volume by 30% and total assets by 25% The plan will cause a decrease in the company's current ROI By applying that plan, the company can not achieve an increase in ROI by 5% By applying that plan, the company can achieve an increase in ROI by 5% By applying that plan, the company can achieve an increase in ROI beyond 5% ROI current = (10,000 units*($4,000 - $3,200) - $6,000,000)/ $20,000,000 = 10% (profit/investment) ROI new = [10,000 units*1.3*($4,000*1.08 - $3,200*1.1) - $6,000,000*1.2]/($20,000,000*1.25) = 12.8% => Increase 2.8% 15 #MC# Andy & Benny Corporation has two subsidiary units, Andy company and Benny company Andy company is producing and selling the component “A” in the market with the selling price of $2,500 per unit, variable cost of $1,800 per unit, total fixed cost of $3,500,000, sales volume of 10,000 units and the production capacity of 14,000 units Benny company processes the product “B” from the component “A” and buys the component A on the market with a purchase price of $2,300 per unit Benny company is considering to buy 8,000 components “A” from Andy company with the purchase price of $2,200 per unit Andy Company applies the internal transfer pricing based on market price given that variable costs will be reduced by 10% when the component “A” is produced and transferred internally If the internal transferred is implemented, then The minimum transferred price is $2,150 per unit Profit of Andy company is increased by $1,840,000 Profit of Benny company is increased by $2,640,000 Profit of Andy & Benny Corporation is increased by $4,480,000 a) minimum price = VC/u + opportunity cost = 1800*0.9 + [(8000u – 4000u)*(2500 – 1800)]/8000 = $1,970 per unit b) maximum price = market price = $2,300 The increase in profit of Andy = ($2,200/u – $1,970/u)*8,000u = $1,840,000 c) The increase in profit of Benny = (2,300 – 2,200)*8,000 = $800,000 d) Total company profit increased = $1,840,000 + $800,000 or (2300 – 1970)*8000 16 #MC# Supply chain is defined as the association of all enterprises providing products and services the association of all enterprises consuming products and services the association of all enterprises directly meeting the customers’ needs the association of all enterprises directly and indirectly meeting the customers’ needs 17 #MC# Sammy Company is considering to choose one of two raw material suppliers, Anthony supplier and Ben supplier, based on the information as follows: Anthony supplier Ben supplier Total units of materials purchased 1,000 units 2,000 units Purchase price per unit $2,500/unit $2,000/unit Supplier activity costs - At unit level $2,000,000 $4,000,000 - At order level $1,000,000 $3,000,000 - At supplier level $2,000,000 $5,000,000 Supplier Performance Index (SPI) of Anthony Supplier is 0.50 Supplier Performance Index (SPI) of Anthony Supplier is higher than that of Ben Supplier The cost of owner ship per dollar of material purchase price from Anthony Supplier is The cost of owner ship per dollar of material purchase price from Anthony Supplier is higher than that from Ben Supplier a) SPI Anthony = total Supplier activity costs/purchasement = ($2,000,000 + $1,000,000 + $2,000,000)/(1,000 units*$2,500/unit) b) SPI Ben = ($4,000,000 + $3,000,000 + $5,000,000)/(2,000 units*$2,000/unit) = c and d) = total cost of ownership/ purchasement An: ($2,000,000 + $1,000,000 + $2,000,000 + 1,000 units*$2,500/unit)/(1,000 units*$2,500/unit) = Ben: ($4,000,000 + $3,000,000 + $5,000,000 + 2,000 units*$2,000/unit)/(2,000 units*$2,000/unit) = => D sai 18 D #MC# ABC Company has factories, namely Factory A, B and C Below is the information related to each factory Factory A Factory B Factory C Wait time 10 30 20 Process time 10 18 14 Inspection time 6 Move time 16 Queue time 18 20 14 Which of the following statements is correct with the above data? Throughput (/manufacturing cycle) time of Factory A is highest Delivery cycle time of Factory A is highest Manufacturing cycle efficiency (MCE) of Factory A is lowest The ratio of Non-value-added time on delivery cycle time of Factory A is lowest 1) Throughput time = Inspection time + Process time + Move time + Queue time Factory A: + 10 + + 18 = 40 (hours) Factory B: 50 hours Factory C: 50 hours => A sai 2) Delivery cycle time = wait time + throughput time Factory A: 40 + 10 = 50 (hours) Factory B: 80 hours Factory C: 70 hours => B sai MCE = Value-added time Throughput time 3) Value-added time = process time Factory A: 10/40 = 25% Factory B: 18/50 = 36% Factory C: 14/70 = 28% => C 1) Non value-added time = Wait time + Inspection time + Move time + Queue time Factory A: 40/50 = 0.8 Factory B: 62/80 = 0.775 Factory C: 56/70 = 0.8 19 #MC# 20 #MC# Which of the following statements is a definition of quality under the customers’ perspective? Quality is defined as the technical standards designed to best meet customers’ needs at an acceptable price Quality is defined as the conformance to specifications at acceptable costs Quality is defined as the technical standards designed to best meet customers’ needs at an acceptable price and the conformance to specifications at acceptable costs Quality is defined as the technical standards to ensure firm achieve the highest profit In order to provide information for quality management, managerial accountants of ABC company have collected detailed information on quality costs over the past years as follows: Cost of quality planning Cost of inspecting materials Cost of inspecting finished goods Cost of assessing the spoilage Cost of downtime for repairing the spoilage Cost of warranty claims Cost of processing customer complains Cost of quality reporting Year X ($) 500,000 1,000,000 1,000,000 200,000 1,600,000 2,500,000 2,700,000 500,000 Year X+1 ($) 4,000,000 1,500,000 2,000,000 200,000 800,000 200,000 800,000 900,000 Which of the following statements is correct with the above data? In year X, prevention costs accounted for 5% of total quality cost Over the past years, prevention costs decreased in value and proportion Over the past years, appraisal cost decreased in value and proportion Over the past years, reasonable costs tended to increase and failure costs tended to decrease prevention: quality training, quality reporting: (500+500)/10,000 = 10% appraisal: inspecting materials, inspecting finished goods internal failure: assessing the spoilage; dowtime for repairing the spoilage external failure: Warranty claims; processing customer complains; b) Prevention cost: increase c) Appraisal cost: increase d) Reasonable cost = prevention + appraisal: increase Failure cost = internal + external: decrease Company VP has the optimal order quantity EOQ is 1,600 products, the cost of inventory for each product is 5,000 VND/product/month The annual production demand is 48,000 units VP company's cost per order is: a.1.600.000đ b.1.333.333đ c.160.000đ d.133.333đ The analysis cost to find the cause of product failure belongs to which of the following cost categories: a.Prevention cost b.Internal failure costs c.Appraisal cost d.Conformance cost The accounting department of company P recorded the company's operating data for the previous year as follows: Revenue 600,000,000 VND, Return on Investment 20%, Equity 240,000,000 VND, Net profit 80,000,000 VND What is the residual income when the minimum desired rate of return is 12% of company P? a.51.200.000đ b.39.000.000đ c.32.000.000đ d.68.480.000đ RI = NIC-(AVG*MINI) Company A has a fixed manufacturing overhead standard at 1.3 hours/product, a standard rate of VND 50,000/machine hour at an output level of 8,000 products Actual figures arising in the year are as follows: 8,100 products are produced, the number of production machine hours is 10,500 hours with a total cost of 475,000,000 VND, the company allocates general production overheads according to the number of direct labor hours The production volume variance in the fixed manufacturing overheads is: a.5.062.500 (U) b.6.500.000đ (F) c.5.062.500 (F) d.6.500.000đ (U) Production Volume Variance = (Actual Production – Budgeted Production) * Budgeted Overhead Cost Per Unit=(8100-8000)*1.3*5000 VP Company has a division report showing the management results of related departments as follows: VP company Department A Department B Revenue 10.000 6.000 4.000 Variable cost 6.000 4.000 2.000 2.000 1.000 1.000 Common fixed cost 1.400 800 600 Average 10.000 5.000 4.000 Controllable fixed cost operating asset Company and Department A’s ROI is: a.Company 6%, Department A 4% b.Company 20%, Department A 20% c.Company 20%, Department A 4% d.Company 6%, Department A 20% Company P sells a product with an inventory level at the end of each month of 20% of the following month's sales Expected sales for the months of Q4 are as follows: 50,000 units sold in October, 90,000 units sold in November, and 80,000 units sold in December The number of products to be produced in November is: a.96,000 b.88,000 c.68,000 d.106,000 90+0.2*80-0.2*90 The accounting department of company P recorded the company's operating data for the previous year as follows: Revenue 600,000,000 VND, Average operating assets 300,000,000 VND, Equity 240,000,000 VND, Net Profit 75,000,000 VND, Residual income 39,000,000 VND What is company P's profit-to-sales ratio? a.13% b.6.5% c.12.5% d.25% Profit Margin = Net Profits (or Income) / Net Sales (or Revenue) Price variance of direct materials costs is unfavorable, possibly due to: a.The supplier has the advantage in negotiating the price of raw materials for the company b.All is wrong c.There is a sudden increase in supply in the raw material market d.All are correct Company A has a variable manufacturing overhead standard time of 1.3 hours/product, a standard price of VND 30,000/machine hour at an output level of 8,000 products Actual figures arising in the year are as follows: 8,100 products are produced, the number of production machine hours is 10,500 hours with a total cost of VND 320,000,000, the company allocates general production costs according to the number of direct labor hours The productivity variance of the variable manufacturing overhead is: a.3.037.500 (F) b.3.037.500 (U) c.900.000đ (F) d.900.000đ (U) 10.Company A has a fixed manufacturing overheads at 1.3 hours/product, a standard rate of VND 50,000/machine hour at an output level of 8,000 products Actual figures arising in the year are as follows: 8,100 products are produced, the number of production machine hours is 10,500 hours with a total cost of 475,000,000 VND, the company allocates general production overheads according to the number of direct labor hours The budget variance in the fixed manufacturing overheads is: a.66.950.000đ (U) b.66.950.000đ (F) c.45.000.000 (U) d.45.000.000 (F) 11 Static planning budget: a.Needs to be compared with actual results to evaluate cost effectiveness b.Only valid/valid at one activity level c.Is the best tool that managers use to make spending plans d.Needs to be compared with flexible budgeting to evaluate cost effectiveness 12 The accounting department of company P recorded the company's operating data for the previous year as follows: Revenue 600,000,000 VND, Average operating assets 300,000,000 VND, Equity 240,000,000 VND, Net Profit 75,000,000 VND, Residual income 39,000,000 VND What is Company P's return on investment? a.25% b.13% c.6.5% d.12.5% 13 The productivity variance of manufacturing overhead is unfavorable indicating that: a.Actual total fixed manufacturing overhead exceeds the budget b.Actual variable manufacturing overhead exceeds the budget c.Time to use the machine to produce unit of actual product is higher than the standard d.The production department did not complete the number of products produced according to the estimate 14 Which of the following are considered to be purposes of budgeting? LRV = AH*(AR - SR) = 5400*(85860/5400 - 15,45) = 2430 (U) LRV = AH*(AR-SR) = 13450*(159786/13450 - 12) = 1614F LEV = SR*(AH - SH) = 12*(13450 - 3350*4) = 600U Fixed overhead budget variance = Actual fixed overhead - Budgeted fixed overhead = 8780 - 10600 = 1820F VMRV = AH*(AR - SR) = 990*(3380/990 - 3.3) = 113 U => Total spending overhead cost = -1820 + 113 = $1707 F VMRV=AH*(AR - SR) = 11100*(28194/11100 - SR) = 1887 => SR = $2.37, mà chọn 2.35… What would have been the activity variance for the total overhead cost? VMEV = SR*(AH - SH) = 3.3*(990-1080) = 297F What would have been the total spending and activity variance for the total overhead cost? cộng câu trước: 297 + 1707 = 2004F CHAPTER Transfer pricing = Variable cost - variable sales commission + opportunity cost = 8-2+(30-8)= 28 > mua => k nên internally transfer => D C RI = Net operating income - ( average operating asset x minimum RRR) AOA x 10% = 150,000 => AOA = 1,500,000 Vì transfer internally nên bỏ 5000 units bán Transfer pricing = VC/unit + opportunity cost = 30 + (50-30)*5000/10000 = 40 (B cần 10000 A free capacity 5000) => Saving cost = income increases = (48-40)*10000 = 80000 Net operating income = revenue - cost = 20,000 - 15,800 = 4,200 RI = net OI - average asset*minimum required rate of return = 4,200 - 30,000*12% = 600 => chấp nhận => Chọn B Rate of return of new investment = ROI = (20,000-15,800)/30,000 = 14% Minimum rate of return = 15% - 3% = 12% Current ROI = 15% Nếu so sánh theo ROI, 14% < 15% => Loại => C, D sai Nếu so sánh theo RI, 14% > 12% => Nhận - evaluated based on ROI, managers will reject any project that have rate of return below current ROI ( Don't care if the rate of return is higher than the minimum rate of return) - evaluated based on RI, managers will accept any project that has rate of return higher than the minimum rate of returns Segment margin = CM - segment fixed cost = 200 - 50 - 80 = 70 CHAPTER (2x5400x10) chia 1,2 Cộng tất cost liên quan đến Tony vào 288800/(1000*60) = 4.813 Supplier performance index = (purchased price + nonperformance price)/ purchased price high cost customer: - large amount of post sales support - customized delivery - small order quantities Order quantity = EOQ Total cost = annual requirement/order quantity*cost per order + order quantity/2*holding cost = 5400/300*10 + 300/2*1.2 = 360 Cộng cost lại + purchase price = 288800 + 60*1000 = 348800/1000 = 348.8/u = Inventory used per period*order lead time = 5400/12/2 = 900 CHAPTER (120+40)/2520 = 6,4% % prevention cost = 5.5% % external failure cost = 60% appraisal cost: prevention cost: 110 External failure cost: 1500 - inspecting finished goods: 120 - quality engineering 70 - warranty claims 100 - test equipment: 40 - quality improvement plans 40 - lost CM sales 1400 In order to reduce total quality cost, the company should focus more on total failure cost = 2100 (83%) = 600 + 1500 Total prevention and appraisal cost = 420 (17%) = 160 + 260 prevention appraisal thấp, phải focus vô giảm đc total quality cost Total 2000: internal failure downtime: 100, rework: 400 => 500/2000 = 25% B Thirty percent of Sharp Company's sales are for cash and 70% are on account Sixty percent of the account sales are collected in the month of sale, 25% in the month following sale, and 12% in the second month following sale The remainder is uncollectible The following are budgeted sales data for the company: In April = cash receipt + 60% account sales + 25% account sales in March + 12% account sales in Feb = 9000 + 12600 + 7000 + 5040 = 33.640 Klaren Corporation is comprised of two divisions: X and Y X currently produces and sells a gear assembly used by the automotive industry in electric window assemblies X is currently selling all of the units it can produce (25,000 per year) to external customers for $25 per unit At this level of activity, X's per unit costs are: Variable: Fixed: Production $7 Production $6 SG&A $2 SG&A $5 Y Division wants to purchase 5,000 gear assemblies per year from X Division Y Division currently purchases these units from an outside vendor at $22 each What is the minimum price per unit that X Division could accept from Y Division for 5,000 units of the gear assembly and be no worse off than currently? transfer price minimun price per unit >= + ((25-9)*5000)/5000 Packaging Solutions Corporation manufactures and sells a wide variety of packaging products Performance reports are prepared monthly for each department The planning budget and flexible budget for the Production Department are based on the following formulas, where q is the number of labor-hours worked in a month: Cost Formulas The actual costs incurred in March in the Direct labor $15.80q Production Department are listed below: Indirect labor $8,200 + $1.6q Direct labor $134,730 Utilities $6,400 + $0.8q Indirect labor $19,860 Equipment depreciation $23,000 + Utilities $14,570 $3.7q Equipment depreciation $54,080 Factory rent $8,400 Factory rent $8,700 The company actually worked 8,400 labor-hours in March Calculate total spending variance Flexible budget = 229960 Actual cost = 231940 spending variance = 1980U Managerial performance can be measured in many diéerent ways including return on investment (ROI) and residual income A good reason for using residual income instead of ROI is: Roberts Company manufactures home cleaning products One of the products, Quickclean, requires pounds of Material A and pounds of Material B per unit manufactured Material A can be purchased from the supplier for $0.30 per pound and Material B can be purchased for $0.50 per pound The finished goods inventory on hand at the end of each month must be equal to 4,000 units plus 25% of the next month's sales The raw materials inventory on hand at the end of each month (for either Material A or Material B) must be equal to 80% of the following month's production needs Assume that the production budget calls for 26,000 units of Quickclean to be manufactured in June and 32,000 units to be manufactured in July On May 31 there will be 104,000 pounds of Material B in inventory The number of pounds of Material B to be purchased during June would be: product produced in June = 26000 raw material purchased in June = 80%*32,000*5 + 26,000*5 - 104,000 = 154,000 Objective of Budgeting process: 1/ define goal and objectives 2/ Think ab and plan for a future 3/ Means of allocating resources 4/ Uncover potential bottlenecks 5/ Coordinate activities 6/ Communicate plans The following July information is for Mickey Company: Standards: Material Labor: 3.0 feet per unit @ $4.20 per foot Actual: 2.5 hours per unit @ $7.50 per hour Actual: Production: 2,750 units produced during the month Material: 8,700 feet used; 9,000 feet purchased @ $4.50 per foot Labor: 7,000 direct labor hours @ $7.90 per hour What is the material price variance (calculated at point of purchase)? MPV = AQpurchased*(AP - SP) = 9000*(4.5-4.2) = 2700U 10 Sunrise Company uses a standard cost system for its production process and applies overhead based on direct labor hours The following information is available for August when Sunrise made 4,500 units: Standard: Actual: DLH per unit 2.5 Direct labor hours 10,000 Variable overhead per DLH $1.75 Variable overhead $ 26,250 Fixed overhead per DLH $3.1 Fixed overhead $38,000 Budgeted variable overhead $21,875 Budgeted fixed overhead $38,750750 Using the two-variance approach, what is the controllable variance? C1: total controllable variance = VMRV + VMEV + fixed MO budget variance = 10000*(26250/10000 - 1,75) + 1,75*(10000 - 2,5*4500) + 38000 - 38750 = 5812,5 C2: Controllable variance = actual cost - budgeted fixed overhead - variable overhead in actual units = 26250+38000 - 38750 - 2.5*1.75*4500 = 5812.5 11 Đề trên, Using the four-variance approach, what is the volume variance? volume variance = budgeted fixed MO - fixed MO applied = 38750 - 4500*2,5*3,1 = 3875 12 Computer Solutions Corporation manufactures and sells various high-tech oìce automation products Two divisions of Oìce Products Inc are the Computer Chip Division and the Computer Division The Computer Chip Division manufactures one product, a "super chip," that can be used by both the Computer Division and other external customers The following information is available on this month's operations in the Computer Chip Division: Selling price per chip $50 Variable costs per chip $20 Fixed production costs $60,000 Fixed SG&A costs $90,000 Monthly capacity 10,000 chips External sales 6,000 chips Internal sales chips Presently, the Computer Division purchases no chips from the Computer Chips Division, but instead pays $45 to an external supplier for the 4,000 chips it needs each month Assume that next month's costs and levels of operations in the Computer and Computer Chip Divisions are similar to this month What is the minimum of the transfer price range for a possible transfer of the super chip from one division to the other? Bán nội 4000 bán 6000 đủ capacity nên k có opportunity cost Transfer price = var = 20 14 Seaman Company has a cash balance of $30,000 on April The company must maintain a minimum cash balance of $24,000 During April, cash receipts of $192,000 are planned Cash disbursements during the month are expected to total $208,000 Ignoring interest payments, during April the company will need to borrow: $10,000 April 1: 30,000; Cash receipt: 192,000; Cash disbursement: 208,000 -> cash còn: 14,000 -> borrow = 24 - 14 = 10 16 T&M Company has a cost of ordering raw materials of $28 each time and the cost of holding raw materials of $0.28/kg/month The annual demand for raw materials is 1,350 kg To minimize inventoryrelated costs, the optimal quantity of materials that T&M needs to order at a time is: Căn(2*1350*28/(0.28*12)) = 150 17 Minh Triet Trading Company determines the optimal order quantity of 320 units of products through the EOQ model Holding cost for each unit of product is $20/unit/month The annual product demand is 9,600 units of products Cost of ordering a consignment that Minh Triet needs to spend: $1280 18 The cost of hour for an employee to enter the order information into the system is $42 For customers who place orders manually, the average time for an employee to enter basic customer information is 0.15 hour; In addition, it takes an additional 0.025 hours to enter each line of information related to the order Cost of entering the order information for a manually entered order with 10 lines of information related to the order: $16.8 có tất 10 lines - line tốn 0,025 hours to enter - employee tốn 0.15 hour to enter basic customer information - hour enter information tốn $42 = 42*(0.15+0.025*10) 19 Appraisal costs refer to costs incurred by: The activity of checking the quality of a product or service before it is delivered to a customer 20 The estimated quality costs for a company in Sep 20x1 are as follows: - Depreciation of testing equipment: $250 - Detecting defects of products: $300 - Quality planning $560 - Returned goods $800 - Handling complaints from customers $1,200 - Repairing: $900 - Preventive maintenance of production equipment $800 - Compensation for customers $700 - Check imported raw materials $400 - Product inspection $100 - Training on quality $1,050 The cost of prevention will be equal to: $2,410