Assessment 1: Cost Analysis
jess22
cf_cost_analysis_template.xlsxProblem 1
| BUS-FPX4061 - Managerial Accounting Principles | |||||||||||||||||||||||||
| Assessment 1: Cost Analysis Worksheet | |||||||||||||||||||||||||
| Problem 1 | Input values | ||||||||||||||||||||||||
| Solve the given problem based on the following information. | |||||||||||||||||||||||||
| Conglomco Corporation manufactures and sells widgets for $550 per unit. | Company name | Conglomco Corporation | |||||||||||||||||||||||
| The total cost of production for 1,100 widgets is given below. | Product | Widget | |||||||||||||||||||||||
| Differentiate each cost as being either variable or fixed and product or period. | Selling price of widgets | $550 | per unit | ||||||||||||||||||||||
| Total number of widgets | 1,100 | ||||||||||||||||||||||||
| Costs | Cost by Behavior ($) | Cost by Function ($) | |||||||||||||||||||||||
| Variable | Fixed | Product | Period | ||||||||||||||||||||||
| Resin for widget covers: $18,700 | |||||||||||||||||||||||||
| Wages/assembly: $90,200 | Resin for widget covers | $18,700 | |||||||||||||||||||||||
| Facility property taxes: $5,500 | Wages/assembly | $90,200 | |||||||||||||||||||||||
| Accounting staff salaries: $38,500 | 38,500 | 38,500 | Facility property taxes | $5,500 | |||||||||||||||||||||
| Stands (1,100 outsourced): $28,600 | Accounting staff salaries | $38,500 | |||||||||||||||||||||||
| Rental equipment/sales staff: $11,000 | Stands (1,100 outsourced) | $28,600 | |||||||||||||||||||||||
| Salaries/management: $137,500 | Rental equipment/sales staff | $11,000 | |||||||||||||||||||||||
| Annual maintenance fee: $11,000 | Salaries/management | $137,500 | |||||||||||||||||||||||
| Commissions (per unit): $15 | Annual maintenance fee | $11,000 | |||||||||||||||||||||||
| Commissions (per unit) | $15 | ||||||||||||||||||||||||
| Depreciation on machinery | $44,000 | ||||||||||||||||||||||||
| Depreciation on machinery: $44,000 | |||||||||||||||||||||||||
Problem 2
| Problem 2 | Input values | ||||||||||||||||||
| Solve the given problem based on the following information. | |||||||||||||||||||
| Jordan manufactures and sells widgets for $550 per unit. | Company name | Jordan | |||||||||||||||||
| The total cost of production for 1,100 widgets is given below. | Product name | Widget | |||||||||||||||||
| Compute the manufacturing cost per widget. | Selling price of widgets | $550 | per unit | ||||||||||||||||
| Round the unit cost to two decimal places. | Total number of widgets | 1,100 | |||||||||||||||||
| Costs | |||||||||||||||||||
| Resin for widget covers | $18,700 | ||||||||||||||||||
| Wages/assembly | $90,200 | Resin for widget covers | $18,700 | ||||||||||||||||
| Facility property taxes | $5,500 | Wages/assembly | $90,200 | ||||||||||||||||
| Accounting staff salaries | $38,500 | Facility property taxes | $5,500 | ||||||||||||||||
| Stands (1,100 outsourced) | $28,600 | Accounting staff salaries | $38,500 | ||||||||||||||||
| Rental equipment/sales staff | $11,000 | Stands (1,100 outsourced) | $28,600 | ||||||||||||||||
| Salaries/management | $137,500 | Rental equipment/sales staff | $11,000 | ||||||||||||||||
| Annual maintenance fee | $11,000 | Salaries/management | $137,500 | ||||||||||||||||
| Commissions (per unit) | $15 | Annual maintenance fee | $11,000 | ||||||||||||||||
| Depreciation on machinery | $44,000 | Commissions (per unit) | $15 | ||||||||||||||||
| Depreciation on machinery | $44,000 | ||||||||||||||||||
| Cost to Manufacture Each Widget | |||||||||||||||||||
| Item | Total Cost ($) | Cost per Unit ($) | |||||||||||||||||
| Variable manufacturing costs: | |||||||||||||||||||
| Fixed manufacturing costs: | |||||||||||||||||||
| Total manufacturing cost | |||||||||||||||||||
