ACCT 212 Study Guide - Quiz Guide: Dc Collectibles, Step One

2 views10 pages

amramr328

25 Mar 2023

School

Liberty University

Department

Accounting

Course

ACCT 212

Professor

For unlimited access to Study Guides, a Grade+ subscription is required.

Document Summary

Assumptions: (1) each test represents an equal amount of output (2) quality is constant. Ex9. 1: b- conclusions about the productivity trend for the procedure: There is increasing trend of productivity from year 1 to yaer 2 but in year 3 it decreases. Ex9. 4: calculate the case-mix index for the following hospitals (indexes marked with *) Step one -calculate case mix & adjusted visits. Step four - calculate hours of direct care for each location. Location 3 currently isn"t hiring nurse practitioners but it requires more hours of direct care in medium-high level. 96. 57 j: *use these measures for the final comparison among the three sites, and discuss potential problems at each site or overall for the company. Location 1 has highest total salary expense per hours of direct patient care while lowest percentage of adjusted work hours in direct patient care while location 2 is performing best in both terms.

Related Questions

As the cost accounting manager at Cambria Chemicals (CC), you are responsible for compiling and reporting various performance measures to the senior managers. The company instituted many efficiency improvement programs recently, and the CFO has asked you to measure and report total factor productivity measures based on the three inputs (material, labor, and overhead). Data for the last two years follow:

	Year 2		Year 1
Gallons input (thousands)		10,000		9,000
Labor-hours (thousands)		8,600		6,200
Gallons of output (thousands)		11,800		9,800

From the accounting records, you also gather the following information for the two years:

	Year 2		Year 1
Cost of inputs (per gallon)	$	83	$	94
Wage rate (per hour)	$	23	$	16
Total manufacturing overhead	$	1,310,000	$	1,200,000
Selling price of output (per gallon)	$	370	$	375

Required:

a. Compute the total factor productivity measures for year 1 and year 2 based on the three inputs (material, labor, and overhead). (Round your answers to 3 decimal places.)

	Year 2	Year 1
Total factor productivity

ceruleanleopard567

Productivity Measurement, Technical and Allocative Efficiency, Partial Measures Carsen Company produces handcrafted pottery that uses two inputs: materials and labor. During the past quarter, 24,000 units were produced, requiring 96,000 pounds of materials and 48,000 hours of labor. An engineering efficiency study commissioned by the local university revealed that Carsen can produce the same 24,000 units of output using either of the following two combinations of inputs:
Materials Labor
Combinations:
F1 72,000 79,200
F2 36,000 33,600
The cost of materials is $8 per pound; the cost of labor is $12 per hour.

Required: 1. Compute the output-input ratio for each input of Combination F1. If required, round your answers to two decimal places.
Materials
Labor

Does this represent a productivity improvement over the current use of inputs?

What is the total dollar value of the improvement? $

Classify this as a technical or an allocative efficiency improvement.

2. Compute the output-input ratio for each input of Combination F2. If required, round your answers to two decimal places.
Materials
Labor

Does this represent a productivity improvement over the current use of inputs?

Now, compare these ratios to those of Combination F1. What has happened?

F2 has_________ productivity for materials and___________ productivity for labor.

3. Compute the cost of producing 24,000 units of output using Combination F1. $

Compare this cost to the cost using Combination F2.
Cost of Combination F1 $
Cost of Combination F2
Difference $

Does moving from Combination F1 to Combination F2 represent a productivity improvement?

limeweasel875

Activity-Based Costing

Hercules Industries manufactures two types of electrical powerunits, custom and standard, which involve four overheadactivitiesâproduction setup, procurement, quality control, andmaterials management. An activity analysis of the overhead revealedthe following estimated costs and activity bases for theseactivities:

Activity	Cost	Activity Base
Production setup	$ 87,000	Number of setups
Procurement	159,500	Number of purchase orders (PO)
Quality control	174,000	Number of inspections
Materials management	140,000	Number of components
Total	$560,500

The activity-base usage quantities for each product are asfollows:

	Setups	Purchase Orders	Inspections	Components	UnitVolume
Custom	300	1,200	2,400	400	2,000
Standard	300	250	500	300	2,000
Total	600	1,450	2,900	700	4,000

a. Determine an activity rate for eachactivity.

Activity Rates	Production Setup		Procurement		Quality Control		Materials Management
Activity cost	$		$		$		$
Activity base
Activity rate	$	/setup	$	/PO	$	/inspection	$	/component

b. Assign activity costs to each product, anddetermine the unit activity cost using the activity rates from part(a). Round unit costs to the nearest cent.

	Custom	Standard
Setups Total	$	$
Purchase Orders Total
Inspections Total
Components Total
Total product cost	$	$
Unit volume
Unit cost	$	$

c. Assume that each product required one directlabor hour per unit. Determine the per unit cost if factoryoverhead is allocated on the basis of direct labor hours. Roundyour answer to the nearest cent.
$per unit

d. The custom product will consumemore materials management activities than will thestandard product.

ultramarineseal463

ACCT 212 Study Guide - Quiz Guide: Dc Collectibles, Step One

Document Summary

Get access

Related Documents

ECON 1 Study Guide - Final Guide: Gdp Deflator, National Research Universal Reactor, Disinflation

MGMT 122 Chapter Notes - Chapter 2: Earnings Before Interest And Taxes, Fixed Cost, Variable Cost

GMS 401 Lecture Notes - Lecture 2: North American Free Trade Agreement, World Trade Organization, Workforce Productivity

Related Questions