I need help in cost and managerial accounting homework. I missed two classes back to back and I am totally...

NAME: ___________________________________

1. The EG Company produces and sells one product. The following data refer to the year just completed:    Assume that direct labor is a variable cost. Required: a. Compute the cost of a single unit of product under both the absorption costing and variable costing approaches. b. Prepare an income statement for the year using absorption costing. c. Prepare a contribution format income statement for the year using variable costing.  

2. Roskam Housecleaning provides housecleaning services to its clients. The company uses an activity-based costing system for its overhead costs. The company has provided the following data from its activity-based costing system.    The "Other" activity cost pool consists of the costs of idle capacity and organization-sustaining costs. One particular client, the Haan family, requested 49 jobs during the year that required a total of 245 hours of housecleaning. For this service, the client was charged $2,500. Required: a. Compute the activity rates (i.e., cost per unit of activity) for the activity cost pools. Round off all calculations to the nearest whole cent. b. Using the activity-based costing system, compute the customer margin for the Haan family. Round off all calculations to the nearest whole cent.

3. Welnor Industrial Gas Corporation supplies acetylene and other compressed gases to industry. Data regarding the store's operations follow: Sales are budgeted at $320,000 for November, $340,000 for December, and $330,000 for January. Collections are expected to be 75% in the month of sale, 20% in the month following the sale, and 5% uncollectible. The cost of goods sold is 65% of sales. The company wants to have merchandise inventory of gas of $176,800 on November 30th & $171,600 on December 31st. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $21,000. Monthly depreciation is $16,000. Ignore taxes.

NOTE: In some of the problems that you have done previously, you started with the number of units that were to be produced and then had to multiply times the unit cost. That is not the case here. You start with the total cost of the merchandise.    Required: a. Prepare a Merchandise Purchases Budget for November and December. b. Prepare Budgeted Income Statements for November and December.  

4. Sammartino Clinic uses patient-visits as its measure of activity. The following report compares the planning budget to the actual operating results for the month of November:    Required: Prepare the clinic's flexible budget performance report for November. Label each variance as favorable (F) or unfavorable (U). 

5. Diamond Company produces a single product. The company has set the following standards for materials and labor:    During the past month, the company purchased 7,000 pounds of direct materials at a cost of $17,500. All of this material was used in the production of 1,300 units of product. Direct labor cost totaled $36,750 for the month. The following variances have been computed:    Required: 1. For direct materials: a. Compute the standard price per pound of materials. b. Compute the standard quantity allowed for materials for the month's production. 2. For direct labor: a. Compute the actual direct labor cost per hour for the month. b. Compute the labor rate variance. 

6. Eckels Wares is a division of a major corporation. The following data are for the latest year of operations:    Required: a. What is the division's return on investment (ROI)? b. What is the division's residual income? 

7. Marcell Corporation is considering two alternatives that are code-named M and N. Costs associated with the alternatives are listed below:    Required: a. Which costs are relevant and which are not relevant in the choice between these two alternatives? b. What is the differential cost between the two alternatives?