accounting hw

 

COST ACCOUNTINGNOTE: Be sure to show all your detailed calculations. This has thepossibility of partial credit for the exercises. There isn’t any partialcredit for the questions.I. Questions1.What are the three types of management decisions?2.Which type of management decision involves the cost volume profitanalysis?3.What type(s) of cost are included under conversion cost and prime cost?4.Provide two examples of committed fixed cost and two examples ofdiscretionary fixed cost.5.Define segment reporting and provide two examples of segments.II. Exercises1. Leslie Manufacturing reported the following:Revenue$450,000Beginning inventory of direct materials,January 1, 201520,000Purchases of direct materials156,000Ending inventory of direct materials, December31, 201518,000Direct manufacturing labor21,000Indirect manufacturing costs (factory overhead)42,000Beginning work-in-process January 1, 201538,000Ending work-in-process December 31, 201562,000Beginning inventory of finished goods, January1, 201540,000Ending inventory of finished goods, December31, 201545,000Operating costs150,000Required:1) What is Leslie's cost of goods cost of goods manufactured?2) What is Leslie's cost of goods sold?3) What is Leslie’s gross profit (or gross margin)?2. The following information is provided for Samsonite Manufacturing Companyfor 2015:Page1of3