Homework Help for Accounting

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Accounting deals with the process of recording financial transactions pertaining to a business entity. Accounting involves summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities.

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Company Disney manufactures a variety of high-volume andlow-volume products to customer demand. Presented is information on2015 manufacturing overhead and activity cost drivers.

Level Total Cost Units of Cost Driver

Unit $600,000 20,000 machine hours

Batch 200,000 1,000 customer orders

Product 400,000 50 products

Product X1 required 3,000 machine hours to fill 10 customerorders for a total of 8,000 units

A. Assuming all manufacturingoverhead is estimated and predicted on the basis of machine hours,determine the predicted total overhead costs to produce the 8,000units of product X1.

B. Assuming manufacturing overhead is estimated and predictedusing separate rates for machine hours, customer orders, andproducts (a multiple-level cost hierarchy), determine the predictedtotal overhead costs to produce the 8,000 units of product X1.

C. Calculate the error in predicting manufacturing overheadusing machine hours versus using multiple cost drivers. Indicatewhether the use of only machine hours results in overpredicting orunderpredicting the costs to produce 8,000 units of product X1.

D. Determine the error in the prediction of X1 batch-level costsresulting from the use of only machine hours. Indicate whether theuse of only machine hours results in overpredicting orunderpredicting the batch-level costs of product X1

E. Determine the error in the prediction of X1 product-levelcosts resulting from the use of only machine hours. Indicatewhether the use of only machine hours results in overpredicting orunderpredicting the product-level costs of product X1.


It is called KidSave, and it was devised in the 1990s by then Sen.Bob Kerrey of Nebraska, with then Sen. Joe Lieberman as cosponsor.The first iteration of KidSave, in simple terms, was this: Eachyear, for every one of the 4 million newborns in America, thefederal government would put $1,000 in a designated savingsaccount. The payment would be financed by using 1 percent of annualpayroll tax revenues. Then, for the first five years of a child'slife, the $500 child tax credit would be added to that account,with a subsidy for poor people. The accounts would be administeredthe same way as the federal employees' Thrift Savings Plan, withthree options,low, medium and high risk -using broad based stockand bond funds. Under the initial KidSave proposal, the funds couldnot be withdrawn until age 65, when, through the miracle ofcompound interest, they would represent a hefty nest egg. At 9.4percent annual growth, an
individual would have more than 1 million dollars. The initial ideaof KidSave was to provide a retirement supplement to SocialSecurity, making it easier in some ways to reform Social Securityto achieve fiscal solvency. But the concept can serve multiplepurposes at a very small cost. More than 65 percent of Americanshave a net worth of less than $100,000. About 90% of the totalsocial security collections of more than $300 billion dollars isused to pay current beneficiaries and in some years the payoutexceeded the collection. Is this a valid proposal? Is it evenpossible? Hint: Calculate FV


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