MinhNguyen Q3 25Jan21 02

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Please do not (otherwise you will jeopard-rename this workbook

-rename any sheets -insert any columns into a sheet -insert any rows into a sheet

Read the Multiple Choice and Ecel assig

"ou ha#e to complete e#ery cell co

$or e#ery cell colored yellow% you&ropdown -' E#ery cell with aalue -' enter the appropriate$ormula -' enter the approprirray $ormula -' enter the ap

5he initialdue datetime !or this assign

5he retakedue datetime !or this assign


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Assignment InstructionsQuiz: 3

ise the grading process):

nment(s) care!ully and do the !ollowing:

lored yellow

a#e to decide: dropdown% choose the appropriate response !rom the

numeric% datetime or tet #aluete !ormula e*g* +,./0.+ press Enterropriate array !ormula e*g* +,123E45(.:.6% 0.:0.6%

ent is 4unday% $ebruary 7.% 67.8 --- 9:77:77 PM

ment is 4unday% $ebruary 7.% 67.8 --- 9:77:77 PM


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ropdown

rue% 5rue)+ press Ctrl/4hi!t/Enter


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MC-001

* Product design cost 0* &irect materials C* 4elling epenses &* ;ed cost C* 5otal cost o#er a wide range o! output

&* 5otal cost and the rele#ant range E* 5otal cost o#er the rele#ant range

nswer: D.

MC-003 ssume the !ollowing in!ormation pertaining to Cub Company:

Prime costs ?66@%A77

Con#ersion costs ?68B%77

&irect materials used ?9%977

manager o! a small manu!acturing >rm is interested in knowi

d#ertising epense


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0eginning work in process ?..6%877

Ending work in process ?6%B77

* ?.A.%B77

0* ?6%B77 C* ?A8F%877 &* ?A8F%877 E* ?66@%A77

nswer: A.

MC-004 ssume the !ollowing in!ormation pertaining to Cub Company:

Prime costs ?677%977

Con#ersion costs ?668%777

&irect materials used ?@%.77

0eginning work in process ?.77%B77

Ending work in process ?@6%777

* ?...%877 ?A.F%.77

0* ?A.F%.77 C* ?@%.77 &* ?..A%877 E* ?AA6%@77

nswer: B.

MC-00

* 3ot to #ary per unit 0* 5o be cur#ilinear C* 3ot to #ary in total &* 5o be nonlinear E*

nswer: A.

&irect labor used is calculated to be:

5otal manu!acturing cost is calculated to be:

ariable costs within the rele#ant range !or a >rm are assumed

3one o! the abo#e are correct


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MC-00! 5his diagram shows:

* 4elected eamples o! costs% cost pools% cost objects and cost d 0* 4elected eamples o! costs% cost pools% cost objects and cost d C* 5his diagram shows the relationships between costs and cost &* 4elected eamples o! costs% cost pools% cost objects and cost d E* 5his diagram shows the relationships between costs% cost pool

nswer: B.

MC-00" 4tephenson Company+s computer system recently crashed% er

Cost o! Goods 4old

=ork-in-Process 2n#entory% 0eginning

=ork-in-Process 2n#entory% Ending

4elling and dministrati#e Epense


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$inished Good 2n#entory% Ending

&irect Materials Purchased

$actory ;#erhead pplied

;perating 2ncome

&irect Materials 2n#entory% Ending

Cost o! Goods Manu!actured

&irect 1abor

5he C$; o! 4tephenson Company has asked you to recalculate

* ?AF%F77 0* ?.BA%A77 C* ?AA@%77

&* ?.@@%B77

nswer: D.

MC-00#

* 2ndirect 1abor% $actory ;#erhead% and 5otal Manu!acturing Cost 0* 2ndirect Materials% $actory ;#erhead% and Cost o! Goods Manu! C* 5otal Manu!acturing Cost and Cost o! Goods 4old &* 2ndirect 1abor% 2ndirect Materials and Cost o! Goods 4old

E*nswer: $.

MC-00% HeIrey+s 0ottling Co incurred the !ollowing costs during 3o#em

Prime costs

Manu!acturing o#erhead

=hat should be the amount o! direct materials a#ailable !or us

5he income statement !or a manu!acturing company includes:

3one o! the abo#e

2! direct materials cost was ?.F@%@77 in 3o#ember% what was t


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* ?@8%@77 ?6BA%677 0* ?F66%777 C* ?.9%777

&* ?6BA%677nswer: D.

MC-010 4tephenson Company+s computer system recently crashed% er

Cost o! Goods 4old





&irect Materials Purchased$actory ;#erhead pplied

;perating 2ncome



&irect 1abor


* ?9.%B77 ?9.%B77 0* ?.8%F77 C* ?F79%@77 &* ?AF8%.77

nswer: A.

MC-011

* ?6%6F7

0* ?.%96A C* ?A%7FA &* ?9.B

nswer: B.

=hat should be the amount in the >nished goods in#entory at

$actory o#erhead costs !or a gi#en period were A*A times as m


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MC-012

* 4tep cost

0* ;#erhead cost C* &* #erage cost

nswer: B.


Cost o! Goods 4old







;perating 2ncome



&irect 1abor


* ?F8.%F77 0* ?F.8%B77

C* ?6.B%877 &* ?676%F77

nswer: C.

5he total manu!acturing cost consists o! the costs !or materials

Prime cost

=hat should be the amount o! direct materials usedD


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MC-014

* 4alary o! manu!acturing super#isor

0* C* &epreciation on company-owned sales outlets &* Power !or eKuipment

nswer: C.

MC-01

* olume o! production 0* 5otal material cost C* &* &irect labor hours E* 5otal o#erhead cost

nswer: A.

MC-01! Eamine this diagram*

=hich o! the !ollowing is not an eample o! a product costD

&epreciation on company-owned manu!acturing plant

=hen cost relationships are linear% total #ariable costs will #ar

Machine hours


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=hat does this diagram represent - choose the best answer*

* 2ncome 4tatements and Cash $low !or Manu!acturing and Merc

0* 2ncome 4tatements !or Manu!acturing and Merchandising Com C* Cost Lows in manu!acturing and merchandising >rms &* ccount relationships !or manu!acturing and merchandising co E* $inancial 4tatements !or Manu!acturing and Merchandising Co

nswer: B.

MC-01" Conrad% 2nc* recently lost a portion o! its records in an or

Cost o! Goods 4old




$inished Goods 2n#entory% Ending


;perating 2ncome

&irect Materials 2n#entory% 0eginning

&irect Materials 2n#entory% End


&irect labor cost incurred during the period amounted to .*9 ti


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* ?9.%777 0* ?B.%B77 C* ?99%B77 &* ?96%F77

nswer: A.

MC-01# Consider the !ollowing !or Guardian Manu!acturing Company:

Change in >nished goods in#entory

Change in work-in-process in#entory

5otal manu!acturing costs

=hat are the cost o! goods manu!actured and cost o! goods so

Cost o! goods Cost o! good

manu!actured sold

) ?@8. ?@B8

0) ?8A. ?.@B

C) ?9. ?.%7A8

&) ?8A. ?8A.

=hat are the cost o! goods manu!actured and cost o! goods so

* ;ption 0 0* ;ption & C* ;ption C &* ;ption

nswer: A.

MC-01% 5his diagram shows:

=hat is the amount o! total manu!acturing costD


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* 5his diagram shows the relationships between costs and cost

0* 5his diagram shows the relationships between costs% cost pool C* 5his diagram shows the relationships between costs and cost &* 2nternal accounting controls E* 3one o! the abo#e

nswer: B.

MC-020

* 0* 2t is consistent with management objecti#es C* 2t is timely &* 2t is accurate

nswer: A.

MC-021 Conrad% 2nc* recently lost a portion o! its records in an or

Cost o! Goods 4old






;perating 2ncome




&irect labor cost incurred during the period amounted to .*B ti

5heoretically% a decision maker would probably be willing to bu

2ts #alue is eKual to or greater than its cost


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* ?A8%67 0* ?6%667

C* ?6A%@67

&* ?A7%867nswer: C.

MC-022 =oodcar#ing Co incurred the !ollowing costs during May:

Con#ersion costs

Prime costs

Manu!acturing o#erhead

=hat was the amount o! direct materials and direct labor used

&irect materials

;ption ?A6%@77

;ption 0 ?B8%B77

;ption C ?6F@%777

;ption & ?.F@%.77

* ;ption C 0* ;ption

C* ;ption 0 &* ;ption &

nswer: C.

MC-023 5he !ollowing in!ormation was taken !rom the accounting recor

4ales Re#enue

$inished Good 2n#entory% 0eginning


Gross Margin

&irect Materials sed

;perating 2ncome


=hat is the amount o! direct materials purchasedD


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&irect 1abor sed

$actory ;#erhead

* ?F6%B77

0* ?A9%877 C* ?F7%677 &* ?A6%@77 E* ?A@%.77

nswer: B.


Cost o! Goods 4old






;perating 2ncome





* ?.77%977 0* ?.8%.77 C* ?@8%877 &* ?..9%77

nswer: A.

Cost o! goods manu!actured is calculated to be:

=hat is the amount o! net salesD


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Cost o! Goods 4old=ork-in-Process 2n#entory% 0eginning






;perating 2ncome



&irect 1abor


* ?676%F77 0* ?.@F%977 C* ?F.A%.77 &* ?A@.%977

nswer: A.

MC-02! ssume the !ollowing in!ormation pertaining to Cub Company:

Prime costs ?6.9%@77

Con#ersion costs ?6F8%777

&irect materials used ?F%7770eginning work in process ?.79%B77

Ending work in process ?@%.77

* ?F%777 0* ?.66%@77

=hat should be the amount o! direct materials usedD

$actory o#erhead is calculated to be:


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C* ?A89%977

&* ?.66%677 E* ?AA%777

nswer: D.

MC-02" Conrad% 2nc* recently lost a portion o! its records in an or

Cost o! Goods 4old




$inished Goods 2n#entory% Ending$actory ;#erhead pplied

;perating 2ncome





* ?F7%967 0* ?A8%A67

C* ?6@%67 &* ?6A%967

nswer: C.

MC-02# 5ierney Construction% 2nc* recently lost a portion o! its >nancial

=hat is the amount o! direct materials usedD


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Cost o! Goods 4old

=ork-in-Process 2n#entory% Hanuary .%

=ork-in-Process 2n#entory% &ecembe


3et 2ncome

$actory o#erhead&irect materials in#entory% Hanuary .%

&irect materials in#entory% &ecembe

Cost o! goods manu!actured

$inished goods in#entory% Hanuary .%

&irect labor cost incurred during the period amounted to 6*@ ti

* ?.FF%777

0* ?8%FF7 C* ?.@%@F7 &* ?.78%.77

nswer: B.

MC-02% 5ierney Construction% 2nc* recently lost a portion o! its >nancial

Cost o! Goods 4old

=ork-in-Process 2n#entory% Hanuary .%

=ork-in-Process 2n#entory% &ecembe4elling and dministrati#e Epense

3et 2ncome

$actory o#erhead

&irect materials in#entory% Hanuary .%

&irect materials in#entory% &ecembe

Cost o! goods manu!actured

$inished goods in#entory% Hanuary .%

=hat should be the amount o! direct materials purchasedD


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&irect labor cost incurred during the period amounted to 6*8 ti

* ?..A%F77 0* ?@7%.77 C* ?%777

&* ?8%677nswer: D.


Cost o! Goods 4old






;perating 2ncome





* ?9%B77

0* ?98%A77

C* ?8%777 &* ?97%877

nswer: C.

=hat should be the amount o! total manu!acturing costD

=hat is the amount o! total manu!acturing costD


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Cost o! Goods 4old




$inished Good 2n#entory% Ending&irect Materials Purchased


;perating 2ncome



&irect 1abor


* ?FA.%977 0* ?F9@%@77 C* ?F.%977 &* ?668%77

nswer: A.

MC-032

* $actory ;#erhead 0* 5otal Manu!acturing Cost

C* Cost o! Goods 4old &* &irect 1abor E*

nswer: C.

MC-033

* Cost relationships are approimately linear 0* Production may #ary C*

=hat should be the amount o! total manu!acturing costD

5he income statement !or a merchandising company includes:

3one o! the abo#e

5he term rele#ant range as used in cost accounting means the

Rele#ant costs are incurred


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&* Costs may Luctuate

nswer: A.

MC-034

* ?@%@.7 0* ?9%@.7 C* ?67%777 &* ?F%@.7 E* ?B7%7.7

nswer: A.


Cost o! Goods 4old






$actory ;#erhead pplied;perating 2ncome



&irect 1abor


* ?ABA%F77 0* ?.7%677

C* ?67F%B77 &* ?A@F%F77

nswer: C.

&irect materials and direct labor costs total ?9%@.7 and !actor

=hat should be the amount o! direct materials a#ailable !or us


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ng what the company+s product costs are =hich o! the !ollowing would be


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&irect labor ?...%877

;#er Oead ?..A%877

:


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ri#ers in automobile manu!acturingri#ers in appliance manu!acturing

bjects in manu!acturing

ri#ers in tele#ision manu!acturing

and cost objects in manu!acturing

sing much o! the Company+s >nancial data* 5he !ollowing accounting in!or

?A@.%677

?6%77

?F7%F77

?87%877


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?.8%A77

?.BA%A77

?...%B77

?66%.77

?9%777

?AA@%77

?88%777

the !ollowing accounts and report to him by week+s end*

ctured

er:

?6AF%977

?.@B%F77

D

e con#ersion cost !or 3o#emberD


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?A.%F77

?A7%877

?F7%B77

?8.%77

?.8%F77

?.BB%B77?..8%677

?66%F77

?9%.77

?AF8%.77

?89%F77


he beginning o! the yearD

ch as the direct material costs Prime costs totaled ?6%6F7 Con#ersion cos


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?F86%677

?A8%B77

?F9%77

?8%677

?.B%@77

?676%F77

?.AA%.77

?69%677

?B%.77

?F7F%877

?98%.77


used% labor% and JJJJJJJJ


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in proportion to changes in:


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handising Companies

anies

panies

panies

* 5he !ollowing in!ormation was sal#aged !rom the accounting records*

?99%B77

?.7%B77

?%A77

?.8%@77

?.8%A77

?.6%977

?.F%677

?..%A77

?9%677

?96%F77

es the !actory o#erhead* 5he C$; o! $isher% 2nc* has asked you to recalcul


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?AFF increase

?.97 increase

?9.

ldD

ldD


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ools

and cost objects in manu!acturing

bjects in manu!acturing


?B6%F77

?..%B77

?.7%777

?.9%@77

?.9%77

?.A%F77

?.8%F77

?.6%.77

?9%B77

?9B%.77


y cost management in!ormation i!:


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?F9@%877

?A9%.77

?A67%F77

in MayD

&irect labor

?B6%F77

?667%877

?.F@%.77

?B8%B77

s o! Elliott Manu!acturing Corp* n!ortunately% some o! the data were des

?B.%777

?..%.77

?B%F77

?A7%@77

?.6%A77

?.B%677

?9%677


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?..%777

?.F%@77


?9%677

?..%A77

?%77

?.9%A77

?.9%.77

?.A%777

?.8%.77

?..%977

?9%F77

?98%777



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?F79%977?A.%877

?F6%B77

?8F%A77

?.9%677

?.@F%977

?.67%977

?6A%B77

?9%F77

?AB7%F77

?8@%977



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?B7%.77

?..%A77

?%977

?.9%777

?.9%.77?.6%@77

?.8%777

?..%B77

?9%F77

?9A%77


records in an o


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?@@%77

67.8 ?67%977

A.% 67.8 ?.9%777

?.B%@77

?AA%877

?66%B77 67.8 ?6%777

r A.% 67.8 ?.8%977

?.7%B77

7.8 ?AF%A77

es the !actory o#erhead* 5he C$; o! 5ierney Construction% 2nc* has asked

records in an o


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es the !actory o#erhead* 5he C$; o! 5ierney Construction% 2nc* has asked


?98%A77

?.7%B77

?%677

?.8%.77

?.8%F77

?.6%.77

?.F%F77

?..%977

?9%.77

?97%877



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?FB7%977

?AB%677

?F%677

?9.%977

?.@%F77?6.A%A77

?.AB%B77

?69%77

?B%A77

?F.%977

?9@%777


range o#er which:


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?F6.%77

?AA%F77

?FF%F77

?88%B77

?.9%977

?.7%677

?.68%F77?6F%.77

?9%B77

?ABA%F77

?9.%777


y o#erhead costs total ?.77 per machine hour 2! 677 machine hours were

D


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considered a product cost !or the manager+s companyD


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mation was disco#ered soon a!terwards on the C$;+s back-up computer di


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s totaled ?A%997 =hat are the direct labor costs !or the periodD


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ate the !ollowing accounts and to report to him by the end o! the day*


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royed by a computer mal!unction*


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you to recalculate the !ollowing accounts and to report to him by the end

the oles:


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you to recalculate the !ollowing accounts and to report to him by the end



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sed !or Hob NAAA% what is the total manu!acturing cost !or Hob NAAAD


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k*


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k*


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k*


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k*


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! tomorrow*


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k*


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k*


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Choco Chocolata is a cookie com

ReKuired:Complete the ye

Prepare the pi#o


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any in Huare% Meico that produces and sells merican-style chocolate chip cook

llow cells*!rom the dropdowns select the appropriate cost - i*e* product or period

table as per the instructions*

Costtilities !or the bakery

Paper used in packaging product4alaries and wages in the bakery

Cookie ingredients0akery labor !ringe bene>tsdministrati#e costs0akery eKuipment maintenance&epreciation o! bakery plant and eKuipmentni!orms !or bakers2nsurance !or the bakeryRent !or administration o


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ies with etremely high Kuality and ser#ice* 5he owner would like to

mount Product or Period?.%77 Product

?.87Product?67%8.7Product

?A6%B.7Product?.%787 Product?.%A7 Period

?9@7Product?.%@67 Product

?87Product?B@7Product

?.F%777Period?6%@B7 Period

?97Period

?.7%BF7Period?6%A77 Product?F67Period

5otal Cost$62,490

$30,920


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identi!y the #arious costs incurred during each year in order to plan

4um - mount

Cost

dministrati#e costs

d#ertising

0akery eKuipment maintenance0akery labor !ringe bene>ts

0oes% bags% and cups used in the bakery

Cookie ingredients

&epreciation o! bakery plant and eKuipment

2dle 5ime

2nsurance !or the bakery

;


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nd control the costs in the business* Chocolata+s costs are the !ollowing (

Product or Period

Period Product otal esult

?.%A7 *1+%30

?6%@B7 *2+#"0

?9@7 *!#0?.%787 *1+00

?97 *%!0

?A6%B.7 *32+"10

?.%@67 *1+#20

?F67 *420

?B@7 *"#0

?.7%BF7 *10+"40

?6%A77 *2+300

?.87 *10

?.F%777 *14+000?67%8.7 *20+10

?87 *%0

?.%77 *1+%00

*30+%20 *!2+4%0 *%3+410


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in thousands o! pesos):


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$&cel Instructions

Pi#ot table(s) - P5s ha#e many pro

P5 name

Column >eld(s)

Row >eld(s)

&ata >eld(s)

1ocation&ata type

4tyle


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perties% only the !ollowing properties will you set*

Pi#ot table N .Pi#ot5able.

custom name: Product or Period sort >eld: Product or Period

custom name: Cost sort >eld: Cost

custom name: 4um o! mount

consolidation !unction: 4um number !ormat: ?N%NN7?2?.7Microso!t Ecel list or database?C?.7:?E?69Pi#ot4tyle&ark9

sort order: uto sort order


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computer #irus destroyed some o! the accounting records !or Oa

ReKuired:Complete the yellow cells with the appropriate alg

0eginning direct materialsPurchase o! direct materialsEnding direct materials&irect materials used&irect laborManu!acturing o#erhead5otal manu!acturing costs0eginning work-in-process in#entEnding work-in-process in#entory

Cost o! goods manu!actured0eginning >nished goods in#entoEnding >nished goods in#entoryCost o! goods sold3et 4ales4elling and dministrati#e Epen3et 2ncome


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pton $urniture Company !or the periods o! 67..-67.A* 5he !ollowing in!o

bra*

1253152013F8%F6B

?9A%6896@%6.B%B96

?.97%@AA@9%B6A

?A6B%A.@ry 6%AA8

.@%F89

A6B%A.@y A7%89?9A%6866F%996FB9%@F@

es .76%@8F?B%AA6


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rmation was sal#aged !rom the computer system*

1253152014 125315201?6@%6. A%6F8A%896 8@%9F@A%6F ?A7%688FA%.@ ?9B%9@B

.AB%.BB .F%.F?@8%. .7%F@B698%898 A69%A6A?.@%F89 6F%7AB6F%7AB ?B6%7@B

?68%@F 6B@%6BA?9A%686 AF%98FAF%98F AA%7@

6@@%8@6 ?6B%@6A@.%BF. ?F.9%.F7?8.%F6B .7.%7BF.%BA6 A8%6A6


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MinhNguyen Q3 25Jan21 02