What was the over- or underapplied manufacturing overhead for Year 1?

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n(TCO 2) Mark Corporation estimates its manufacturing overhead to be $110,000 and its direct labor costs to be $220,000 for Year 1.The actual direct labor costs for the year include:

Job 301 $60,000

Job 302 82,000

Job 303 98,000

The actual manufacturing overhead was $121,000. Manufacturing overhead is applied to .homeworkminutes.com/answer/view/73877#”>jobs on the basis of direct labor costs by using predetermined rates. What was the over- or underapplied manufacturing overhead for Year 1?

$11,000 overapplied

$11,000 underapplied

$1,000 overapplied

$1,000 underapplied

Question 2. Question : (TCO 2) The journal entry to record the actual manufacturing overhead costs for indirect material is:

a

b

c

d

e

Question 3. Question : (TCO 2) Cedar Company estimates its manufacturing overhead to be $700,000 and its direct labor costs to be $560,000 for Year 2. Cedar worked on the following three jobs for the year:

Job Status Direct Labor Costs

Job 2-1 Completed and sold $195,000

Job 2-2 Completed by not sold 325,000

Job 2-3 In progress 130,000

Actual manufacturing overhead for Year 2 was $822,000. Manufacturing overhead is applied on the basis of direct labor costs. How much of the underapplied overhead should be allocated to finished goods?

$2,850

$1,900

$4,750

$9,500

Comments:

Question 4. Question : (TCO 2) In order to compute equivalent units of production using the FIFO method of process costing, work for the period must be broken down to units:

completed during the period and units in ending inventory.

started during the period and units transferred out during the period.

completed from beginning inventory, started and completed during the month, and units in ending inventory.

processed during the period and units completed during the period.

Question 5. Question : (TCO 2) The Finishing Department had 5,000 incomplete units in its beginning Work-in-Process Inventory, which were 100% complete as to materials and 30% complete as to conversion costs. 15,000 units were received from the previous department. The ending Work-in-Process Inventory consisted of 2,000 units, which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing. What are the equivalent units of production for the conversion costs during the period?

14,500

15,100

16,500

17,100

(TCO 2) Activity analysis is one of the first stages in implementing an activity-based costing system. Which of the following steps of activity analysis is usually performed first?

Classify all activities as value added or nonvalue added.

Record, from start to finish, the activities used to complete the product or service.

Identify the process objectives that are defined by what the customer wants from the process.

Improve the efficiency of all activities and develop plans to eliminate any nonvalue-added activities.

Question 2. Question : (TCO 2) Zela Company is preparing its annual profit plan. As part of its analysis of the profitability of individual products, the controller estimates the amount of overhead that should be allocated to the individual product lines from the information provided below.

Budgeted material handling costs: $50,000

Under an activity-based costing (ABC) system, the materials handling costs allocated to one unit of wall mirrors would be:

$625.00.

$312.50.

$833.33.

$1,000.00.

Question 3. Question : (TCO 2) A company has identified the following overhead costs and cost drivers for the coming year:

Budgeted direct labor cost was $100,000, and budgeted direct material cost was $280,000. The following information was collected on three jobs that were completed during the year:

If the company uses activity-based costing (ABC), how much overhead cost should be assigned to Job 101?

$1,300

$2,000

$5,000

$5,600

Comments:

Question 4. Question : (TCO 2) Scottso Enterprises has identified the following overhead costs and cost drivers for the coming year:

Budgeted direct labor cost was $200,000, and budgeted direct material cost was $800,000. The following information was collected on three jobs that were completed during the month:

If the company uses activity-based costing (ABC), what is the cost of each unit of Job A-28?

$320.00

$30.40

$187.40

$350.40

Question 5. Question : (TCO 2) Which of the following statements is true?

One of the lessons learned from activity-based costing (ABC) is that all costs are really a function of volume.

The primary purpose of the plant wide and department allocation methods is allocating direct costs to specific products.

A problem with activity-based costing (ABC) is that it requires more recordkeeping than other methods.

Direct cost allocations are required for the plant w

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Worrying about the choice of an overhead allocation base is a waste of time.

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DQ1

Job Costing (graded)

Worrying about the choice of an overhead allocation base is a waste of time. In the end, all of the overhead is charged to production.

Do you agree with the previous statement? Why or why not?

DQ2

Process Costing (graded)

The more important individual unit costs are for decision making, the more likely it is that process costing will be preferred to job costing.

Do you agree with the previous statement? Why or why not?

 

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Which method would you recommend to the president, and why?

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DQ1

Product Costs (graded)

Refer to the data in Exercise 6-34 on page 227. The president of Tiger Furnishing is confused about the differences in costs that result from using direct labor costs and machine hours. Why are the two product costs different? Which method would you recommend to the president, and why?

DQ2

Cost Allocation (graded)

Cost allocation is arbitrary, so there is nothing gained by it. We should report only the costs that we know are direct.

Do you agree with the previous statement? Support your answer.

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Here you list the rules that apply to support the judgment you have made.

 

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DeVry CRMJ 425 Week 7 Ethical Dilemma

Ethical Dilemma Exercise Instructions

Using the information in chapter two and week two’s lecture solve this week’s ethical dilemmas exer-cise using the following format:

Ethical Judgment: Here you state the judgment you have made about the ethical dilemma; that is you state the action you deem the best action to take in this case.

For example:

Tell the prosecutor and if the prosecutor keeps the information from the defense attorney, you should provide it.

Moral Rules: Here you list the rules that apply to support the judgment you have made.

For example:

One should seek justice.

One should protect due process.

One should do one’s duty.

One should not lie.

One should strive to protect the innocent.

Ethical System: Here you list the system(s) that would support your judgment. Perhaps a paradigm to follow is to work through the systems and first list the ones that would not support your judgment.

For example:

Ethical formalism would define a law enforcement officer’s duty as not just telling the truth on the stand, but to seek justice (same for the prosecutor). It makes no different whether the officer thought the defendant was guilty or not (except for egoism and act-utilitarianism). One of the principles of due process and our system of advocacy is that the defense attorney has a right of access to exculpatory information – the prosecutor is both legally and ethically bound to provide such information to the defense. The police officer, as a participant in the justice process, has a complementary duty.

This is the format you need to follow when solving the assigned ethical dilemmas, if you have ques-tions ask your instructor.

 

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Cost Analysis for Decision Making (graded)

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DQ1

Cost Analysis for Decision Making (graded)

One of your coworkers notes, “This whole subject of differential costing is easy; variable costs are the only costs that are relevant.” How would you respond?

DQ2

Cost Estimation Methods (graded)

Is there one cost estimation method that is the best to use? What problems can occur with cost estimations?

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Discuss the reasons for noble cause corruption.

DeVry CRMJ 425 Week 7 Discussion 1 & 2

 

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DeVry CRMJ 425 Week 7 Discussion 1 & 2

dq 1

Discuss Noble Cause Corruption (graded)

Discuss the reasons for noble cause corruption.

dq 2

Crime Control & the War on Terror (graded)

Discuss what you believe are the major ethical issues in crime control and the war on terror.

 

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Mason Industries manufactures 20,000 components per year.

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(TCO 5) Mason Industries manufactures 20,000 components per year. The manufacturing cost of the cowmonents was determined as follows:

Direct materials $80,000

Direct labor $120,000

Variable overhead $55,000

Fixed overhead $40,000

An outside supplier has offered to sell Mason the component for $13. If Mason purchases the component from the outside supplier, fixed costs would be reduced by $10,000. Should Mason accept the offer?

Yes, because the differential costs decrease by $10,000.

Yes, because the differential costs decrease by $5,000.

No, because the differential costs increase by $10,000.

No, because the differential costs increase by $5,000.

Question 2. Question : (TCO 5) The following information relates to a product produced by Henry Company:

Direct materials $13

Direct labor 10

Variable overhead 8

Fixed overhead 11

Unit cost $42

Fixed selling costs are $1,000,000 per year. Variable selling costs of $3 per unit sold are added to cover the transportation cost.Although production capacity is 500,000 units per year, Henry expects to produce only 400,000 units next year. The product normally sells for $50 each. A customer has offered to buy 50,000 units for $38 each. The customer will pay the transportation charge on the units purchased. If Henry accepts the special order, the effect on income would be a:

$750,000 increase.

$350,000 increase.

$200,000 increase.

$100,000 increase.

Points Received: 5 of 5

Comments:

Question 3. Question : (TCO 5) The operations of Click Corporation are divided into the North Division and the South Division.Projections for the next year are as follows:

North Division South Division Total

Sales $720,000 340,000 $1,060,000

Variable costs 215,000 158,000 373,000

Contribution margin $505,000 $182,000 $687,000

Direct fixed costs 173,000 146,000 319,000

Segment margin $332,000 $36,000 $368,000

Allocated common costs 90,000 68,000 158,000

Operating income (loss) $242,000 $(32,000) $210,000

If the South Division was dropped, the operating income for Click Corporation, as a whole, would be:

$264,000.

$174,000.

$242,000.

$210,000.

Question 4. Question : (TCO 3) Mount Company incurred a total cost of $8,600 to produce 400 units of pulp. Each unit of pulp required five direct labor hours to complete. What is the total fixed cost if the variable cost was $1.50 per direct labor hour?

$1,700

$3,000

$5,600

$8,000

Question 5. Question : (TCO 3) The controller of Joy Co has requested a quick estimate of the manufacturing supplies needed for the Morton Plant for the month of July, when production is expected to be 470,000 units to meet the ending inventory requirements and sales of 475,000 units. Joy Co’s budget analyst has the following actual data for the last three months.

Using the high-low method to develop a cost estimating equation, the estimate of the needed manufacturing supplies for July would be:

$681,500.

$688,750.

$749,180.

$752,060.

Points Received: 5 of 5

Comments:

Question 1. Question : (TCO 2) Mark Corporation estimates its manufacturing overhead to be $110,000 and its direct labor costs to be $220,000 for Year 1. The actual direct labor costs for the year include:

Job 301 $60,000

Job 302 82,000

Job 303 98,000

The actual manufacturing overhead was $121,000. Manufacturing overhead is applied to jobs on the basis of direct labor costs by using predetermined rates. What was the over- or underapplied manufacturing overhead for Year 1?

$11,000 overapplied

$11,000 underapplied

$1,000 overapplied

$1,000 underapplied

Points Received: 5 of 5

Comments:

Question 2. Question : (TCO 2) The journal entry to record the actual manufacturing overhead costs for indirect material is:

a

b

c

d

e

Question 3. Question : (TCO 2) Cedar Company estimates its manufacturing overhead to be $700,000 and its direct labor costs to be $560,000 for Year 2. Cedar worked on the following three jobs for the year:

Job Status Direct Labor Costs

Job 2-1 Completed and sold $195,000

Job 2-2 Completed by not sold 325,000

Job 2-3 In progress 130,000

Actual manufacturing overhead for Year 2 was $822,000. Manufacturing overhead is applied on the basis of direct labor costs. How much of the underapplied overhead should be allocated to finished goods?

$2,850

$1,900

$4,750

$9,500

Question 4. Question : (TCO 2) In order to compute equivalent units of production using the FIFO method of process costing, work for the period must be broken down to units:

completed during the period and units in ending inventory.

started during the period and units transferred out during the period.

completed from beginning inventory, started and completed during the month, and units in ending inventory.

processed during the period and units completed during the period.

Question 5. Question : (TCO 2) The Finishing Department had 5,000 incomplete units in its beginning Work-in-Process Inventory, which were 100% complete as to materials and 30% complete as to conversion costs. 15,000 units were received from the previous department. The ending Work-in-Process Inventory consisted of 2,000 units, which were 50% complete as to materials and 30% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing. What are the equivalent units of production for the conversion costs during the period?

14,500

15,100

16,500

17,100

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What is the purpose of this site?

 

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DeVry CRMJ 425 Week 6 Website Field Trip

Website Field Trip #2

Review and study this site; www.abanet.org and find the section on ethics, write a short report on your findings and answer the following questions:

  1. 1.Who sponsors this site?
  2. 2.What is the purpose of this site?
  3. 3.How does this site relate to CJ and ethics and this course?
  4. 4.What are some of the new and interesting facts that you learned from this site?
  5. 5.Does this site have anything for CJ students?

Submit your findings by using the drop box.

 

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Ethical Dilemma Exercise Instructions.

 

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DeVry CRMJ 425 Week 6 Ethical Dilemma

Ethical Dilemma Exercise Instructions

Using the information in chapter two and week two’s lecture solve this week’s ethical dilemmas exer-cise using the following format:

Ethical Judgment: Here you state the judgment you have made about the ethical dilemma; that is you state the action you deem the best action to take in this case.

For example:

Tell the prosecutor and if the prosecutor keeps the information from the defense attorney, you should provide it.

Moral Rules: Here you list the rules that apply to support the judgment you have made.

For example:

One should seek justice.

One should protect due process.

One should do one’s duty.

One should not lie.

One should strive to protect the innocent.

Ethical System: Here you list the system(s) that would support your judgment. Perhaps a paradigm to follow is to work through the systems and first list the ones that would not support your judgment.

For example:

Ethical formalism would define a law enforcement officer’s duty as not just telling the truth on the stand, but to seek justice (same for the prosecutor). It makes no different whether the officer thought the defendant was guilty or not (except for egoism and act-utilitarianism). One of the principles of due process and our system of advocacy is that the defense attorney has a right of access to exculpatory information – the prosecutor is both legally and ethically bound to provide such information to the defense. The police officer, as a participant in the justice process, has a complementary duty.

This is the format you need to follow when solving the assigned ethical dilemmas, if you have ques-tions ask your instructor.

 

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What are the major differences between retribution and prevention as forms of punishment?

 

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DeVry CRMJ 425 Week 6 Discussion 1 & 2

dq 1

Institutional & Community Corrections (graded)

Institution and community corrections are the primary methods used in America; describe and discuss the related ethical issues in these systems.

dq 2

Rationales for Punishment (graded)

There are several rationales for punishment, all of them are legitimated by social contract theory. What are the major differences between retribution and prevention as forms of punishment?

 

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