De vry university discussion and assignments

DeVry-University ACCT-346 Discussion
And Assignments
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ACCT 346 Week 1 Discussion
Please introduce yourself to the class. Tell us your major, a bit about your family, your interests, and
whatever else you want to share!
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Discussion-Please-introd-29879
ACCT 346 Week 1 Assignment
1. Identify whether each of the items below is a Product Cost or Period Cost:
2. Identify whether each of the items below is a Direct Cost or Indirect Cost:
3. Identify whether each of the below is a Fixed Cost or Variable Cost
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)
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)
Assignment-1-Identify-29880
The job cost sheet is used to accumulate the three product costs: direct material, direct labor, and
factory overhead. Discuss the source documents for determining these amounts (i.e., where do we
get these numbers, and how do we arrive at the overhead?). Why is overhead the most difficult to
assign?
Discussion-The-job-cost-29882
ACCT 346 Week 2 Assignment 1
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:
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?
Assignment-1-1-Biltz-C-29885
ACCT 346 Week 2 Assignment 2
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:
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?

Assignment-2-1-Biltz-C-29887
Describe how the process-costing system accumulates and assigns costs by comparing and
contrasting it to the job-order costing system.
Discussion-Describe-how-29888
1. Beginning WIP 1.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?
Assignment-1-Beginning-29892

What do we mean by the term cost behavior? What is the difference among a variable, fixed, and
mixed cost? Give an example of each.
Discussion-What-do-we-me-29896
1. MountainAir Company has the following selected data for the past year:
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.
Assignment-1-Mountain-29900
Based on your e-book readings and review of both the lecture and Becker content, discuss the basic
assumptions of CVP analysis and how we can use CVP analysis in making decisions as managers
Discussion-Based-on-your-29903

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:
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.
Assignment-1-Palmer-s-29909

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? What is the problem with using only financial
measures of performance?
Discussion-Compare-and-c-29912
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:
During the month of January, the company produced 1,250 t-shirts. Related production data for the
month is as follows:
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?
Assignment-1-Cave-Hard-29917
Suppose a company has five 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. How is the IRR determined if there are uneven cash
flows? Why does the failure to consider soft benefits discourage investment?
Discussion-Suppose-a-com-29919
1. Gomez Corporation is considering two alternative investment proposals with the following
data:
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.
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.)
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De vry university discussion and assignments

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