Assignment Details ACC-001B-70054 Managerial Accounting Discussion Board: Chapter 16 and Prior Content + Administrative Topics 2 pts Not Submitted Due Sep 23, 2021 at 11:59 PM Submission Types Discussion Comment Submission & Rubric > Description One of the best things about this class is the Discussion Board, a 24-hour / 7-day study group

Assignment Details ACC-001B-70054 Managerial Accounting Discussion Board: Chapter 16 and Prior Content + Administrative Topics 2 pts Not Submitted Due Sep 23, 2021 at 11:59 PM Submission Types Discussion Comment Submission & Rubric > Description One of the best things about this class is the Discussion Board, a 24-hour / 7-day study group. Share learnings, ask questions, respond to questions, and/or post comments. Please also look for "Teacher's Question" posts and respond / comment with your solutions and ideas - feedback from different students are welcome just like in a face- to-face classroom! Logistically, it's important we organize our posts. Here's also a video on how to create new post or reply to another post: How to Post Basically, use the "Reply" button right below the instructions here to start a new topic. On the other hand, use the smaller "Reply" button at the bottom of a specific box to answer/comment on the question/topic. You may use the Discussion Board for the chapter of the week to post questions related to the chapter and for prior chapters or logistics, so that hopefully students won't miss any posts and have just one Discussion Board to read and use for the week. Chapter 16: Process Costing Note that job costing in the previous chapter is for heterogeneous products, such as a customed yacht or a legal case. This chapter talks about process costing, which is for homogeneous products such as waffles and soft drinks. Note their similarities and differences on WileyPlus text or on the Chapter Overview, Chapter Review, Chapter FAQs under Modules in Canvas. Units to be accounted for (I think of these as inflows) must equal Units accounted for (I think of these as outflows). For the goal of introduction, the book doesn't talk about spoilage in the calculation, but in general, companies do already account for normal spoilage in the accounted for. Equivalent units is basically the number of physical units x percentage completion Equivalent units in work in process are generally different for direct materials, direct labor, and manufacturing overhead, depending on when they enter the process. Take the Assembly department for a furniture manufacturer, direct materials such as wood, bolt connectors, screws, enter into Assembly at the beginning, while direct labor and overhead are consumed throughout the Assembly process. Direct labor and manufacturing overhead are combined View Discussion Dashboard 14 To Do DOO 000 Calendar 0= 05 Notifications Inbox 10:35 PM Sat Sep 18 67% Assignment Details ACC-001B-70054 Managerial Accounting respond / comment with your solutions and ideas - feedback from different students are welcome just like in a face- to-face classroom! Logistically, it's important we organize our posts. Here's also a video on how to create new post or reply to another post: How to Post Basically, use the "Reply" button right below the instructions here to start a new topic. On the other hand, use the smaller "Reply" button at the bottom of a specific box to answer/comment on the question/topic. You may use the Discussion Board for the chapter of the week to post questions related to the chapter and for prior chapters or logistics, so that hopefully students won't miss any posts and have just one Discussion Board to read and use for the week. Chapter 16: Process Costing Note that job costing in the previous chapter is for heterogeneous products, such as a customed yacht or a legal case. This chapter talks about process costing, which is for homogeneous products such as waffles and soft drinks. Note their similarities and differences on WileyPlus text or on the Chapter Overview, Chapter Review, Chapter FAQs under Modules in Canvas. Units to be accounted for (I think of these as inflows) must equal Units accounted for (I think of these as outflows). For the goal of introduction, the book doesn't talk about spoilage in the calculation, but in general, companies do already account for normal spoilage in the accounted for. Equivalent units is basically the number of physical units x percentage completion Equivalent units in work in process are generally different for direct materials, direct labor, and manufacturing overhead, depending on when they enter the process. Take the Assembly department for a furniture manufacturer, direct materials such as wood, bolt connectors, screws, enter into Assembly at the beginning, while direct labor and overhead are consumed throughout the Assembly process. Direct labor and manufacturing overhead are combined to call conversion costs, which means we assume they both enter the process at the same time. We create a production cost report to understand the key activities and each department's quantity and cost data. This is very important for analysis, improvements, pricing! View Discussion Dashboard 14 To Do ??? Calendar 000 0= O= Notifications Inbox 10:35 PM Sat Sep 18 67% 7 ? Assignment Details ACC-001B-70054 Managerial Accounting Discussion Board: Chapter 17 and Prior Content + Administrative Topics 2 pts Not Submitted Due Oct 3, 2021 at 11:59 PM Submission Types Discussion Comment Submission & Rubric > Description One of the best things about this class is the Discussion Board, a 24-hour / 7-day study group. Share learnings, ask questions, respond to questions, and/or post comments. Please also look for "Teacher's Question" posts and respond / comment with your solutions and ideas - feedback from different students are welcome just like in a face- to-face classroom! Logistically, it's important we organize our posts. Here's also a video on how to create new post or reply to another post: How to Post Basically, use the "Reply" button right below the instructions here to start a new topic. On the other hand, use the smaller "Reply" button at the bottom of a specific box to answer/comment on the question/topic. You may use the Discussion Board for the chapter of the week to post questions related to the chapter and for prior chapters or logistics, so that hopefully students won't miss any posts and have just one Discussion Board to read and use for the week. Chapter 17: Activity-Based Costing A few formulas that might be helpful for this chapter. Please remember to also scan through Frequently Asked Questions and Chapter Review under Modules in Canvas, after going over the chapter on WileyPlus: Operating Income - Sales Revenue – (Operating) Costs % Difference in Operating Income = [(Operating Income under ABC - Operating Income Under Traditional Costing) / Operating Income Under Traditional Costing] * 100 Plant-Wide Overhead Rate = Total Estimated Overhead / TOTAL Estimated Activity (i.e. Direct Labor Hours) Manufacturing Overhead Allocated to Product = Plant-Wide Overhead Rate * Estimated Activity Per Product Activity Based Overhead Rate = Estimated Overhead for Activity Cost Pool / Total Activity for Cost Driver (i.e. Machine Hours, Number of Setups) Activity Based Overhead Cost Allocated to Product = Sum for All Cost Drivers which is: Product Activity for Cost View Discussion Dashboard 14 To Do DOO Calendar 000 0= O= Notifications Inbox 10:36 PM Sat Sep 18 67% 7 ? Assignment Details ACC-001B-70054 Managerial Accounting Description One of the best things about this class is the Discussion Board, a 24-hour / 7-day study group. Share learnings, ask questions, respond to questions, and/or post comments. Please also look for "Teacher's Question" posts and respond / comment with your solutions and ideas - feedback from different students are welcome just like in a face- to-face classroom! Logistically, it's important we organize our posts. Here's also a video on how to create new post or reply to another post: How to Post Basically, use the "Reply" button right below the instructions here to start a new topic. On the other hand, use the smaller "Reply" button at the bottom of a specific box to answer/comment on the question/topic. You may use the Discussion Board for the chapter of the week to post questions related to the chapter and for prior chapters or logistics, so that hopefully students won't miss any posts and have just one Discussion Board to read and use for the week. Chapter 17: Activity-Based Costing A few formulas that might be helpful for this chapter. Please remember to also scan through Frequently Asked Questions and Chapter Review under Modules in Canvas, after going over the chapter on WileyPlus: Operating Income = Sales Revenue – (Operating) Costs % Difference in Operating Income = [(Operating Income under ABC - Operating Income Under Traditional Costing) / Operating Income Under Traditional Costing] * 100 Plant-Wide Overhead Rate = Total Estimated Overhead / TOTAL Estimated Activity (i.e. Direct Labor Hours) Manufacturing Overhead Allocated to Product = Plant-Wide Overhead Rate * Estimated Activity Per Product Activity Based Overhead Rate = Estimated Overhead for Activity Cost Pool / Total Activity for Cost Driver (i.e. Machine Hours, Number of Setups) Activity Based Overhead Cost Allocated to Product = Sum for All Cost Drivers which is: Product Activity for Cost Driver * Overhead Rate Per the Cost Driver View Discussion Dashboard 14 To Do ??? Calendar 000 0= O= Notifications Inbox 10:49 PM Sat Sep 18 63% 7 ? Assignment Details ACC-001B-70054 Managerial Accounting Discussion Board: Chapter 19 and Prior Content + Administrative Topics 2 pts Not Submitted Due Oct 19, 2021 at 11:59 PM Submission Types Discussion Comment Submission & Rubric > Description One of the best things about this class is the Discussion Board, a 24-hour / 7-day study group. Share learnings, ask questions, respond to questions, and/or post comments. Please also look for "Teacher's Question" posts and respond / comment with your solutions and ideas - feedback from different students are welcome just like in a face-to-face classroom! Logistically, it's important we organize our posts. Here's also a video on how to create new post or reply to another post: How to Post Basically, use the "Reply" button right below the instructions here to start a new topic. On the other hand, use the smaller "Reply" button at the bottom of a specific box to answer/comment on the question/topic. You may use the Discussion Board for the chapter of the week to post questions related to the chapter and for prior chapters or logistics, so that hopefully students won't miss any posts and have just one Discussion Board to read and use for the week. Chapter 19: Cost-Volume-Profit Analysis Additional Issues Please review Chapter 19 Review document under Modules in Canvas for a recap with formulas for this chapter. For examples: Unit Sales Contribution X Mix Margin Percentage (Unit Sales + Contribution X Mix Margin Percentage Weighted - Average Unit Contribution Margin Break-even Point Weighted - Average Unit Fixed Costs in Units Contribution Margin Contribution Sales Mix ? Margin Ratio Percentage + Contribution Sales Mix MarginRatio Percentage Weighted - Average Contribution Margin Ratio Fixed Costs + Weighted - Average Contribution Margin Ratio Break - even Point in Dollars View Discussion Dashboard 14 To Do ??? Calendar 000 0= O= Notifications Inbox 10:50 PM Sat Sep 18 63% Assignment Details ACC-001B-70054 Managerial Accounting Contribution margin per unit Limited resource required = Contribution margin per unit of (i.e. mach hours reg'd per unit) limited resource Contribution Margin Net Income Degree of Operating Leverage Note the effects of a high degree of operating leverage or contribution margin ratio has on net income. Company A CM Ratio Company B CM Ratio Sales Revenue 1,190,000 1,190,000 Variable Costs (600,000) (200,000) Contribution Margin (CM) 590,000 49.6% 990,000 83.2% Fixed Costs (500,000) (900,000) Net Income (NI) 90,000 90,000 Degree of Operating Leverage (CM/NI) 6.56 11.00 Sales revenue increases 40% Sales Revenue 1,666,000 1,666,000 Variable Costs (840,000) (280,000) Contribution Margin (CM) 826,000 49.6% 1,386,000 83.2% Fixed Costs (500,000) (900,000) Net Income (NI) ** 326,000 486,000 * ? Company B's earnings would go up (or down) by 1.68 (11/6.56) times as much as Company A's with an equal change in sales. *** (486,000-90,000)/(326,000-90,000)=1.68 ILLUSTRATION 19A.3 Absorption vs. Variable Costing (2 of 2) Per unit manufacturing cost under each approach. Type of Cost Absorption Variable Direct materials $ 5 $5 Direct labor Variable manufacturing overhead 1 1 Fixed manufacturing overhead ($120,000 = 30,000 units produced) Manufacturing cost per unit $13 $9 3 3 4 ° 0 View Discussion Dashboard 14 To Do DOO Calendar 000 0= O= Notifications Inbox 10:50 PM Sat Sep 18 63% Assignment Details ACC-001B-70054 Managerial Accounting ILLUSTRATION 19A.3 3 3 Absorption vs. Variable Costing (2 of 2) Per unit manufacturing cost under each approach. Type of Cost Absorption Variable Direct materials $ 5 $5 Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($120,000 = 30,000 units produced) Manufacturing cost per unit $13 $9 Manufacturing cost per unit is $4 ($13 -$9) higher for absorption costing because fixed manufacturing costs are treated as product costs. 1 1 4 0 LLUSTRATION 1944 $400,000 S400,000 Premium Products Corporation Income Statement For the Month Ended January 31, 2020 Absorption Costing Sales (20,000 units x 520) Cost of goods sold Inventory, January $ 1- Cost of goods manufactured (30,000 units x 513) 390,000 Cost of goods available for sale 390,000 Less: Inventory, January 31 (10,000 units x 513) Cost of goods sold (20,000 units X S13) Gross profit Variable selling and administrative expenses (20,000 x 52) 40,000 Fixed selling and administrative expenses 15,000 Net income Premium Products Corporation Income Statement For the Month Ended January 31, 2020 Variable Costing Sales (20.000 units x 520) Variable cost of goods sold Inventory, January 1 S-0 Variable cost of goods manufactured (30.000 units x 59) 270.000 Variable cost of goods available for sale 270.000 Less: Inventory, January 31 (10,000 units x S9) 90.000 Variable cost of goods sold 18000 Variable selling and administrative expenses (20,000 units x S2) 40.000 Contribution margin Fixed manufacturing overhead 120,000 Fixed selling and administrative expenses 15.000 Net income 130,000 260,000 140,000 220,000 180,000 55.000 135.000 $ 85,000 $ 45,000 Difference in Net Income (85,000 - 45,000 - $40,000) - fixed manufacturing costs of product not sold (10,000 units $4 - $40,000) We didn't include chapter 19 appendix on assignments, but because absorption costing is used for external reporting (GAAP), some students are interested in understanding the differences between variable costing versus absorption costing (appendix). Variable costing is consistent with the cost-volume-profit materials presented in chapters 18 and 19. Production costs are applied to products / services, but the two methods differ on the treatment of fixed manufacturing overhead costs. Fixed manufacturing overhead costs are expensed during the period in which they are incurred in variable costing, whereas, for absorption costing, they are expensed when the product is sold. The highlights below from the chapter exemplify the differences. View Discussion Dashboard 14 To Do ??? Calendar 000 0= O= Notifications Inbox 10:50 PM Sat Sep 18 63% Assignment Details ACC-001B-70054 Managerial Accounting Yro Accepting an order at a special price Special Orders Reject Order $0 Revenues Net Income Increase (Decrease) $22,000 (16,000) $6,000 Accept Order $22,000 16,000 $6,000 Costs Net income $0 • Make-or-buy decision Make or Buy LLUSTRATION www Direct materials Direct labor Variable manufacturing costs Fixed manufacturing costs Purchase price (25,000 $8) Total annual cost Make Buy $50,000 $0 75,000 0 40,000 0 60,000 50,000 0 200,000 $225,000 $250,000 Net Income Increase (Decrease) $50,000 75,000 40,000 10,000 (200,000) $125,000) Net Income Increase (Decrease) $125,000) 38,000 $13,000 Make Total annual cost Opportunity cost Total cost LUSTRATION www buy oportunity.com $225,000 38,000 $263,000 Buy $250,000 0 $250,000 Sell or process further Single-Product Case Net Income Process Increase Further (Decrease) $60.00 $10.00 Sell Unfinished Sales price per unit $50.00 Cost per unit Direct materials 15.00 Direct labor 10.00 Variable manufacturing overhead 6.00 Fixed manufacturing overhead 4.00 Total 35.00 Net income per unit $15.00 Multiple-Product Case 17.00 14.00 8.40 (2.00) (4.00) (2.40) 0.00 (8.40) $1.60 4.00 43.40 $16.60 w Sell $19,000 Process Further $27,000 Net Income Increase (Decrease) $ 8,000 Sales per day Cost per day to process cream into cottage cheese Net income per day 0 $19,000 10,000 $17,000 (10,000) $ 12,000) • Repairing, retaining, or replacing equipment Operating expenses Repair costs Rental revenue New machine cost Sale of old machine Total cost Retain Replace Equipment Equipment $120,000 40,000 5 (12,000) 170,000 (25,000) $160,000 $133,000 Net Income Increase (Decrease) $120,000 40,000 12,000 (170,000) 25,000 $ 27,000 Eliminate an unprofitable segment or product Should Eliminate Eliminate (Decrease) $400,000 $(400,000) Net Income Increase Continue Sales $ 0 Variable costs 310.000 310.000 View Discussion Dashboard 14 To Do DOO Calendar 000 0= O= Notifications Inbox 10:50 PM Sat Sep 18 63% 7 ? Assignment Details ACC-001B-70054 Managerial Accounting Discussion Board: Chapter 20 and Prior Content + Administrative Topics 2 pts Not Submitted Due Oct 29, 2021 at 11:59 PM Submission Types Discussion Comment Submission & Rubric > Description One of the best things about this class is the Discussion Board, a 24-hour / 7-day study group. Share learnings, ask questions, respond to questions, and/or post comments. Please also look for "Teacher's Question" posts and respond / comment with your solutions and ideas - feedback from different students are welcome just like in a face- to-face classroom! Logistically, it's important we organize our posts. Here's also a video on how to create new post or reply to another post: How to Post Basically, use the "Reply" button right below the instructions here to start a new topic. On the other hand, use the smaller "Reply" button at the bottom of a specific box to answer/comment on the question/topic. You may use the Discussion Board for the chapter of the week to post questions related to the chapter and for prior chapters or logistics, so that hopefully students won't miss any posts and have just one Discussion Board to read and use for the week. Chapter 20: Incremental Analysis Incremental analysis or differential analysis, is the process used to identify the financial data that change under alternative courses of action. Please read the chapter on the three important cost concepts: relevant costs, opportunity cost, sunk costs. The types of incremental analysis evaluated are below, with screenshots from the chapter to provide a sample of the elements and format use for each type. Please also refer to the Chapter Review document under Modules in Canvas for a summary of the conditions considered for each type. • Accepting an order at a special price Special Orders Revenues Costs Net income Reject Order $0 0 so Accept Order $22,000 16,000 $6,000 Net Income Increase (Decrease) $22,000 (16,000) $6,000 View Discussion Dashboard 14 To Do DOO Calendar 000 0= O= Notifications Inbox 10:50 PM Sat Sep 18 63% 7 ? Assignment Details ACC-001B-70054 Managerial Accounting Operating expenses Repair costs Rental revenue New machine cost Sale of old machine Total cost Retan Replace Equipment Equipment $120,000 40,000 5 (12,000) 170,000 (25,000) $160,000 $133,000 increase (Decrease) $120,000 40,000 12,000 (170,000) 25,000 $ 27,000 • Eliminate an unprofitable segment or product Net Income Should Eliminate Increase Continue Eliminate (Decrease) Sales $400,000 $ 0 $(400,000) Variable costs 310,000 0 310,000 Contribution margin 90,000 0 (90,000) Fixed costs 120,000 20,00...