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# Acc206wk3assign Essay

999 words - 4 pages

ï»¿ACC 206 Week Three Assignment

Please complete the following five exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

The Towson Manufacturing Corporation applies overhead on the basis of machine hours. The following divisional information is presented for your review:

Division A
Division B
Actual machine hours
22,500
17,200
Estimated machine hours
20,000
18,000
\$4.50
...view middle of the document...

The "other" jobs contained material and labor charges of \$21,000 and \$17,400, respectively.

General applies overhead daily at the rate of 150% of direct labor cost as labor summaries are posted to job orders. The firm's fiscal year ends on May 31.

Instructions:
a. Compute the total overhead applied to production during May.
171,750
b. Compute the cost of the ending work in process inventory.
124,500
c. Compute the cost of jobs completed during May.
293,450 ( 417950-124500)
d. Compute the cost of goods sold for the year ended May 31.
109,400 (44900+21000+17400+17400 *1.5)

3. High-low method
The following cost data pertain to 20X6 operations of Heritage Products:

Quarter 1
Quarter 2
Quarter 3
Quarter 4
Shipping costs
\$58,200
\$58,620
\$60,125
\$59,400
Orders shipped
120
140
175
150

The company uses the high-low method to analyze costs.
a. Determine the variable cost per order shipped.
(60125 â€“ 58200) / (175 â€“ 120)
1925 / 55 = \$35
b. Determine the fixed shipping costs per quarter.
60125 â€“ (35 x 175)
60125 â€“ 6125 = \$54,000 3rd quarter
59400-(35 x 150)
59400-5250 = \$54,150 4th quarter
58200- (35 x 120)
58200-4200 = \$54,000 1st quarter
58620-(35 x 140)
58620-4900 = \$53,720 2nd quarter
c. If present cost behavior patterns continue, determine total shipping costs for 20X7 if activity amounts to 570 orders. \$79,800 ?

4. Break-even and other CVP relationships
Cedars Hospital has average revenue of \$180 per patient day. Variable costs are \$45 per patient day; fixed costs total \$4,320,000 per year.
a. How many patient days does the hospital need to break even?
Average revenue = \$ 180
Variable Cost = \$ 45
Contribution per unit = \$ 135
Fixed cost = \$ 4,320,000
Break even patient = Fixed Cost / Contribution per unit
\$ 4,320,000 / \$ 135
= 32,000 patients
b. What level of revenue is needed to earn a target income of \$540,000?
Target Income = \$ 540,000
Add: Fixed Cost = \$ 4,320,000
Required Contribution = \$ 4,860,000 (75% of Revenue)
Variable Cost = \$ 1,620,000 (25% of...

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