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Question : 118.Each pound of the raw material, ore, yields 5 units : 1302794

Economics

 

118.Each pound of the raw material, ore, yields 5 units of Beta and 15 units of Gamma. Ore costs $20 per pound. A pound of ore has processing costs (not including the cost of the raw material) of $30 at the split-off point. The selling price for a unit of Beta is $80. The selling price for a unit of Gamma is $40.If the physical quantities method is used to allocate the joint costs, what is the total cost that will be allocated to each unit of Beta?

A.$12.50

B.$16.67

C.$7.50

D.$5.00

 

119.Each pound of the raw material, ore, yields 5 units of Beta and 15 units of Gamma. Ore costs $20 per pound. A pound of ore has processing costs (not including the cost of the raw material) of $30 at the split-off point. The selling price for a unit of Beta is $80. The selling price for a unit of Gamma is $40.If the physical quantities method is used to allocate the joint costs, what is the total cost that will be allocated to each unit of Gamma?

A.$30.00

B.$37.50

C.$15.00

D.$22.50

 

120.Each pound of the raw material, ore, yields 5 units of Beta and 15 units of Gamma. Ore costs $20 per pound. A pound of ore has processing costs (not including the cost of the raw material) of $30 at the split-off point. The selling price for a unit of Beta is $80. The selling price for a unit of Gamma is $40.If the relative sales value method is used to allocate the joint costs, what is the total cost allocated to each unit of Beta?

A.$12.00

B.$20.00

C.$33.33

D.$12.50

 

121.Each pound of the raw material, ore, yields 5 units of Beta and 15 units of Gamma. Ore costs $20 per pound. A pound of ore has processing costs (not including the cost of the raw material) of $30 at the split-off point. The selling price for a unit of Beta is $80. The selling price for a unit of Gamma is $40.If the relative sales value method is used to allocate the joint costs, what is the total cost allocated to each unit of Gamma?

A.$30.00

B.$37.50

C.$16.00

D.$16.67

 

122.Brevall Industries makes corn oil and corn meal from harvested corn in a joint process. The corn oil can be further processed into margarine, and the corn meal can be further processed into corn muffin mix. The joint cost incurred to process the corn to the split-off point is $140,000. Information on the quantities, value, and further processing costs for the joint products appearbelow:

 

Sales ValueEstimated FurtherSales Value

QuantityAt Split-offProcessing CostAfter Processing

Corn Oil800,000 lbs.$0.30/lb.$0.15/lb.$0.60/lb.

Corn Meal1,600,000 lbs.0.10/lb.0.46/lb.0.55/lb.

 

Brevall allocates the joint cost to the products based on the relative sales value at split-offpoint. How much joint cost should be assigned to the corn oil?

A.$46,667

B.$84,000

C.$105,000

D.$70,000

 

 

123.Brevall Industries makes corn oil and corn meal from harvested corn in a joint process. Corn oil can be further processed into margarine, and the corn meal can be further processed into corn muffin mix. The joint cost incurred to process the corn to the split-off point is $140,000. Information on the quantities, value, and further processing costs for the joint product appears below:

 

Sales ValueEstimated FurtherSales Value

QuantityAt Split-offProcessing CostAfter Processing

Corn Oil800,000 lbs.$0.30/lb.$0.15/lb.$0.60/lb.

Corn Meal1,600,000 lbs.0.10/lb.0.46/lb.0.55/lb.

 

Brevall allocates the joint cost to the products based onphysical units. Corn oil is assigned $46,667 of joint cost and corn meal is assigned $93,333 of joint cost. Which products should be processed further?

A.Corn oil

B.Corn meal

C.Both corn oil and corn meal

D.Neither corn oil nor corn meal

 

124.Teruba Melons purchased a truckload of watermelons weighing 3,000 pounds for $900. The company separated the melons into two grades: superior and economy. The superior grade melons have a total weight of 2,400 pounds and the economy grade melons total 600 pounds. The company sells the superior grade at $0.60 per pound and the economy grade at $0.30 per pound. How much of the $900 cost of the truckload will be allocated to the superior grade melons using the physical quantity method? Use fivesignificant digits in calculations.

A.$540

B.$720

C.$771

D.$1,440

 

125.Teruba Melons purchased a truckload of watermelons weighing 3,000 pounds for $900. The company separated the melons into two grades: superior and economy. The superior grade melons have a total weight of 2,400 pounds and the economy grade melons total 600 pounds. The company sells the superior grade at $0.60 per pound and the economy grade at $0.30 per pound. How much of the $900 cost of the truckload will be allocated to the superior grade melons using the relative sales value method? Use fivesignificant digits in calculations.

A.$800

B.$720

C.$600

D.$1,440

 

126.Havenstock produces lime juice and lime margarita mix. A 500-pound batch of limes costing $70 is processed and results in two components—concentrate and nectar. The labor to achieve this process is $120 per batch.The concentrate is used to produce lime juice and the nectar is used to produce margarita mix. The concentrate is processed into 80 pints of lime juice at a batch cost of $30, and the nectar is processed into 40 bottles of margarita mix at a cost of $20 per batch. The sales price of each pint of juice is $5, and each bottle of margarita mix has a sales value of $2.50. How much is the joint cost allocated to lime juice using the relative sales value method?

A.$46.67

B.$56.00

C.$96.00

D.$152.00

*127.Express Toys makes 2 products, both of which currently have very strong demand. Product P sells for $7.00 per unit, has a variable cost of $3.00 per unit, and requires 2 minutes of processing time on Machine A. Product Q sells for $9.00 per unit, has variable cost of $2.00 per unit, and requires 10 minutes processing time on Machine A. If there are only 3,000 hours available on Machine A during the month, which product should be produced?

A.Product P

B.Product Q

C.Neither product P nor Q

D.Equal quantities of each product

 

*128.Raintree makes 2 products, rain jackets and rain pants. Each passes through the cutting machine, which is the binding constraint. Rain jackets take 16 minutes on the cutting machine and have a contribution margin per jacket of $20. Rain pants take 24 minutes on the cutting machine and have a contribution margin per pair of pants of $32.Which product should be made if there is unlimited demand for each?

A.Rain jackets

B.Rain pants

C.An equal number of pants and jackets

D.There is not enough information provided to answer.

 

*129.Raintree makes 2 products, rain jackets and rain pants. Each passes through the cutting machine, which is the binding constraint. Rain jackets take 12 minutes on the cutting machine and have a contribution margin per jacket of $16. Rain pants take 24 minutes on the cutting machine and have a contribution margin per pair of pants of $32.Assume that there are 4,800 hours available on the cutting machine and that the minimumdemand for each product is 3,000 units. How many of each product should be made?

A.3,000 jackets and 10,500 pants

B.600 jackets and 4,200 pants

C.3,600 jackets and 1,200 pants

D.3,000 jackets and 3,000 pants

 

*130.Raintree makes 2 products, rain jackets and rain pants. Each passes through the cutting machine, which is the binding constraint. Rain jackets take 12 minutes on the cutting machine and have a contribution margin per jacket of $16. Rain pants take 24 minutes on the cutting machine and have a contribution margin per pair of pants of $32.Assume that there are 4,800 hours available on the cutting machine and that the minimum demand for each product is 3,000 units. If 100 more hoursof machine time canbe obtained, how much willprofits increase?

A.$1,600

B.$3,200

C.$8,000

D.None of these answer choices are correct.

 

Material from the appendix to the chapter is marked with an asterisk (*).

 

 

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July 1, 2023
    

 

16) The partial productivity of overhead resources can be measured by considering the cost driver as ________.

A) budgeted input

B) the denominator

C) the fixed input

D) the numerator

 

17) Which of the following statements is true of productivity measures?

A) Partial productivity and total factor productivity measures  never work best together.

B) Partial productivity explicitly considers gains from using fewer physical inputs as well as substitution among inputs.

C) All productivity measures are physical measures lacking financial content.

D) Total factor productivity considers the trade-offs across various inputs based on current input prices.

18) ________ is an example of a total factor productivity measure.

A) The number of units produced per month

B) The number of units produced per machine hour

C) The number of units produced per labor hour

D) The number of units produced per dollar of input cost

 

19) Total factor productivity explicitly considers gains from using fewer physical inputs as well as substitution among inputs.

 

20) Partial productivity and total factor productivity measures work best together because both measures have the same kind of strengths and weaknesses.

 

21) One problem with total factor productivity revolves around the measurement of combined productivity of all inputs.

 

22) Productivity describes the relationship between different quantities of inputs consumed and the quantities of output produced.

23) Power Company has been unhappy with the financial accounting variances that its cost accounting system has been producing, because its managers believe that there is more to evaluating an operation than just examining accounting numbers. Therefore, it has started gathering data to assist in the examination of nonfinancial results of operations. The following information relates to the manufacture of remote control units for televisions, radios, and stereo components:

 

20112012

Remote control units produced and sold80,000100,000

Direct manufacture labor-hours12,00013,200

Direct materials used (sets)80,600100,500

Direct manufacture cost per hour$18$20

Direct materials cost per set$31$32

 

Required:

a.What is the partial productivity of direct materials for each year?

b.What is the partial productivity of direct manufacturing labor for each year?

c.Did each area improve between 2011 and 2012? Explain.

d.What will be the projected direct material and labor needs for 2013 if remote control units increase by 12,000 units, assuming Power Company applies the constant returns to scale technology?

24) Grader Company manufactures road graders. Because its managers all have engineering backgrounds, they prefer nonfinancial information for their decision-making models. Therefore, they require the accountants gather data to assist in the examination of nonfinancial results of operations. The following information relates to the manufacture of a paver:

 

20112012

Units produced and sold6,8005,600

Direct manufacture labor-hours136,000115,200

Direct materials used (tons)29,00024,400

Direct manufacture cost per hour$21$22

Direct materials cost per ton$431$443

 

Required:

a.What is the partial productivity for direct materials for each year?

b.What is the partial productivity for direct manufacturing labor for each year?

c.What is the total factor productivity for each year?

 

 

default image
July 1, 2023
    

 

16) The partial productivity of overhead resources can be measured by considering the cost driver as ________.

A) budgeted input

B) the denominator

C) the fixed input

D) the numerator

 

17) Which of the following statements is true of productivity measures?

A) Partial productivity and total factor productivity measures  never work best together.

B) Partial productivity explicitly considers gains from using fewer physical inputs as well as substitution among inputs.

C) All productivity measures are physical measures lacking financial content.

D) Total factor productivity considers the trade-offs across various inputs based on current input prices.

18) ________ is an example of a total factor productivity measure.

A) The number of units produced per month

B) The number of units produced per machine hour

C) The number of units produced per labor hour

D) The number of units produced per dollar of input cost

 

19) Total factor productivity explicitly considers gains from using fewer physical inputs as well as substitution among inputs.

 

20) Partial productivity and total factor productivity measures work best together because both measures have the same kind of strengths and weaknesses.

 

21) One problem with total factor productivity revolves around the measurement of combined productivity of all inputs.

 

22) Productivity describes the relationship between different quantities of inputs consumed and the quantities of output produced.

23) Power Company has been unhappy with the financial accounting variances that its cost accounting system has been producing, because its managers believe that there is more to evaluating an operation than just examining accounting numbers. Therefore, it has started gathering data to assist in the examination of nonfinancial results of operations. The following information relates to the manufacture of remote control units for televisions, radios, and stereo components:

 

20112012

Remote control units produced and sold80,000100,000

Direct manufacture labor-hours12,00013,200

Direct materials used (sets)80,600100,500

Direct manufacture cost per hour$18$20

Direct materials cost per set$31$32

 

Required:

a.What is the partial productivity of direct materials for each year?

b.What is the partial productivity of direct manufacturing labor for each year?

c.Did each area improve between 2011 and 2012? Explain.

d.What will be the projected direct material and labor needs for 2013 if remote control units increase by 12,000 units, assuming Power Company applies the constant returns to scale technology?

24) Grader Company manufactures road graders. Because its managers all have engineering backgrounds, they prefer nonfinancial information for their decision-making models. Therefore, they require the accountants gather data to assist in the examination of nonfinancial results of operations. The following information relates to the manufacture of a paver:

 

20112012

Units produced and sold6,8005,600

Direct manufacture labor-hours136,000115,200

Direct materials used (tons)29,00024,400

Direct manufacture cost per hour$21$22

Direct materials cost per ton$431$443

 

Required:

a.What is the partial productivity for direct materials for each year?

b.What is the partial productivity for direct manufacturing labor for each year?

c.What is the total factor productivity for each year?

 

 

default image
July 1, 2023
    

 

16) The partial productivity of overhead resources can be measured by considering the cost driver as ________.

A) budgeted input

B) the denominator

C) the fixed input

D) the numerator

 

17) Which of the following statements is true of productivity measures?

A) Partial productivity and total factor productivity measures  never work best together.

B) Partial productivity explicitly considers gains from using fewer physical inputs as well as substitution among inputs.

C) All productivity measures are physical measures lacking financial content.

D) Total factor productivity considers the trade-offs across various inputs based on current input prices.

18) ________ is an example of a total factor productivity measure.

A) The number of units produced per month

B) The number of units produced per machine hour

C) The number of units produced per labor hour

D) The number of units produced per dollar of input cost

 

19) Total factor productivity explicitly considers gains from using fewer physical inputs as well as substitution among inputs.

 

20) Partial productivity and total factor productivity measures work best together because both measures have the same kind of strengths and weaknesses.

 

21) One problem with total factor productivity revolves around the measurement of combined productivity of all inputs.

 

22) Productivity describes the relationship between different quantities of inputs consumed and the quantities of output produced.

23) Power Company has been unhappy with the financial accounting variances that its cost accounting system has been producing, because its managers believe that there is more to evaluating an operation than just examining accounting numbers. Therefore, it has started gathering data to assist in the examination of nonfinancial results of operations. The following information relates to the manufacture of remote control units for televisions, radios, and stereo components:

 

20112012

Remote control units produced and sold80,000100,000

Direct manufacture labor-hours12,00013,200

Direct materials used (sets)80,600100,500

Direct manufacture cost per hour$18$20

Direct materials cost per set$31$32

 

Required:

a.What is the partial productivity of direct materials for each year?

b.What is the partial productivity of direct manufacturing labor for each year?

c.Did each area improve between 2011 and 2012? Explain.

d.What will be the projected direct material and labor needs for 2013 if remote control units increase by 12,000 units, assuming Power Company applies the constant returns to scale technology?

24) Grader Company manufactures road graders. Because its managers all have engineering backgrounds, they prefer nonfinancial information for their decision-making models. Therefore, they require the accountants gather data to assist in the examination of nonfinancial results of operations. The following information relates to the manufacture of a paver:

 

20112012

Units produced and sold6,8005,600

Direct manufacture labor-hours136,000115,200

Direct materials used (tons)29,00024,400

Direct manufacture cost per hour$21$22

Direct materials cost per ton$431$443

 

Required:

a.What is the partial productivity for direct materials for each year?

b.What is the partial productivity for direct manufacturing labor for each year?

c.What is the total factor productivity for each year?

 

 

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