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Accounting for decision making and control

Customer Question

QUESTIONS:

P10-1:

VARIABLE AND ABSORPTION COSTING:

Varilux manufactures a single product and sells it for $ 10 per unit . At the beginning

Of the year there were 1,000 units in inventory .Upon further investigation ,you discover

That units produced last year had $ 3.00 of fixed manufacturing cost and $2.00 of

Variable manufacturing cost. During the year Varilux produced 10,000 units of product.

Each unit produced generated $ 3.00 of variable manufacturing cost. Total fixed

Manufacturing cost for the current year was $ 40,000. There were no inventories at the

End of the year.

Required Question:

               Prepare two income statements for the current year , one on a variable cost basis and the other on an absorption cost basis .Explain any difference between the two
Net income numbers and provide calculations supporting your explanation of the difference.

P 11-1:
For many years the Honey Lake Summer Camp had used the number of campers
Per week to estimate weekly costs. The summer camp is open for ten weeks during the summer with a different number of campers each week .July is busiest with June and the end of August least busy. Costs from the last week of summer camp in 1998 are used to estimate costs for 1999 for pricing purposes .The following costs occurred during the last week of 1998 for pricing purposes. The following costs occurred during
The last week of 1998 and the costs of each cost category are expected to be the same
For 1999.
                                         &nbs p;                                         &n bsp;                               Weekly Cost
Supervisor's salary                                        &nbs p;                                         &n bsp;  $   400
Cook's salary                                        &nbs p;                                         &n bsp;                300
Camp counselor salaries (1 for each occupied cabin, each of
Which hold 10 campers) (5 counselors * $ 200 / counselor)                      1,000
Food ( 50 campers * $ 100/ camper)                                        &nb sp;                   5,000                     &n bsp;                                       
Supplies (50campers *$20/camper)                                       &nbs p;                      1,000
Utilities   (50campers *$10/camper)                                       &nbs p;                        500
Insurance (50campers*$20/camper)                                                              1,000
Property tax ($10,000/10 weeks)                                        &nbs p;                         1,000
                                         &nbs p;                                         &n bsp;                            ---------------------
Weekly total                                          ;                                         &nb sp;              $12,200                                                      
                                         &nbs p;                                         &n bsp;                           ----------------------
Cost per camper: $ 12,200/50 campers = $ 244/camper
The Honey Lake Summer Camp expects 75 campers during the second week of July .

REQUIRED QUESTION:
a)     What is the expected cost of that week using the average cost?
b)     What is the expected cost of that week using ABC?
Submitted: 7 years ago.
Category: Homework
Expert:  Todd replied 7 years ago.
THIS ANSWER IS LOCKED!
You can view this answer by clicking here to Register or Login and paying $3.
If you've already paid for this answer, simply Login.
Expert:  Todd replied 7 years ago.
Do you need any additional assistance?
Customer: replied 7 years ago.
I NEED THE SOLUTION OF THE PROBLEM IN DETAIL

WITH FORMULAE AND DETAIL EXPLANATION
Customer: replied 7 years ago.
Relist: I still need help.
i want the solutions of the problems in detail

and it is better if you refer the instructor manual of "accouting for decision making and control" of mc graw hill publications for better
solutions.So plz send me the solutions of these
questions as soon as possible, thank you.
Expert:  DrTutor replied 7 years ago.
You will not get new answers for your new questions because you seem to be not willing to accept already completed answers.
Customer: replied 7 years ago.
NO its not like that iam not willing to accept the answers iam ready to accept it and i will
accept all the answers which you have sent to me.
So plz trust me and give me the solutions of
q-10-2 and q-11-3 as soon as possible .I will
accept all the answers ok . Thank you.
Customer: replied 7 years ago.
Plz send me the solutions of the problems in details with explanations and calculations,
and it is better if would refer the instructor
manual of " accounting for decision making and
control" of mc graw hill publications for better
solutions ok thank you.
Customer: replied 7 years ago.
Reply to DrTutor's Post: i like your answers but plz try to send the

solutions of the above problems in detail with

proper explanation and calculation ,i will wait

for your reply and try to send it as soon as possible ok thank you.
Customer: replied 7 years ago.
Relist: I prefer a second opinion.
i don't want this answers because it is too late
Customer: replied 7 years ago.
Relist: I prefer a second opinion.
close the above questions
Expert:  DrTutor replied 7 years ago.
no answers will be provided if you do not improve your record of 2/5.

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