Essentials of managerial accounting module 3

Assignment 1 

ABC Manufacturing Co. reported the following production costs for the 12 months January through December.

Table 1

MonthTotal production costsUnits producedJanuary$450,000350February290,000220March490,000330April525,000390May550,000410June325,000240July450,000290August450,000320September525,000380October240,000150November710,000450December500,000350

Perform the following:

  • Perform a regression analysis using Excel.
  • Using the results from the regression analysis, use the cost equation in the form
    Y = f + vX.
  • Assume that ABC Manufacturing Co. will produce 450 units next month. Calculate total production costs for the month using the regression analysis method.
  • Using the data in Table 1, use the high-low method to calculate total production costs. Assume that ABC Manufacturing will produce 400 units.
  • Using the data in Table 1, use the scatterplot method to calculate total production costs. Assume that ABC Manufacturing will produce 500 units.

assignment 2 

Gonzalez Tortilla Corporation produces tortillas in large batches and uses a process costing system. Three departments—Mixing, Rolling, and Packaging—are involved in the production process. Gonzalez Tortilla has the following transactions:

  1. Direct materials totaling $25,000—$7,500 for the Mixing department, $6,250 for the Rolling department, and $11,250 for the Packaging department—are requisitioned and placed in production.
  2. Each production department incurs the following direct labor costs (wages payable):

Mixing$3,125Rolling$5,750Packaging$2,750

  1. Manufacturing overhead costs are applied to each department as follows:

Mixing$12,500Rolling$8,750Packaging$9,375

  1. Products with a cost of $6,875 are transferred from the Mixing department to the Rolling department.
  2. Products with a cost of $8,000 are transferred from the Rolling department to the Packaging department.
  3. Products with a cost of $11,375 are completed and transferred from the Packaging department to the finished goods warehouse.
  4. Products with a cost of $10,375 are sold to customers.

Perform the following steps for each transaction:

  1. Prepare a journal entry to record the transaction.
  2. Summarize the flow of costs through T-accounts. Use the format presented in Figure 4.2, “Flow of Product Costs in a Process Costing System” (no need to include T-accounts for raw materials inventory, wages payable, or manufacturing overhead). Assume that there are no beginning balances in the work-in-process inventory, finished goods inventory, and cost of goods sold accounts.
  3. Assugnment 3 

In a one-page ”journal”, consider process costing and the flow of costs through accounts used in a process costing system. Describe what equivalent units are and how equivalent units are calculated.

Provide at least two scholarly sources.

  1. Assignment 4.         Daniel’s Paint Company uses the weighted average method to account for costs of production. Daniel’s manufactures base paint in two separate departments—Mixing and Packaging. The following information is for the Mixing department for the month of March.
  • A total of 42,000 units (measured in gallons) were in beginning work-in-process (WIP) inventory. All were completed and transferred out during March.
  • A total of 73,500 units were started during March. Regarding the 73,500 units started, consider the following information:
    • 21,000 units were completed and transferred out to the Packaging department (100% complete with respect to direct materials, direct labor, and overhead).
    • In addition, 52,500 units were partially completed and remained in ending WIP inventory on March 31 (90% complete for direct materials, 70% complete for direct labor, and 30% complete for overhead, which is applied based on machine hours).
  • Costs in beginning WIP inventory totaled $240,450 (= $102,900 in direct materials + $43,050 in direct labor + $94,500 in overhead).
  • Costs incurred during March totaled $173,250 (= $73,500 in direct materials + $36,750 in direct labor + $63,000 in overhead).

Perform the following:

  1. Use the four key steps to assign costs to units completed and transferred out and to units in ending WIP inventory for the Mixing department.
Duepapers
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.