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]]>Required: Calculate the following: 1. The actual purchase price per pound of direct material (rounded to the nearest penny). 2. The variation in use of direct materials. 13-40 Material Variations – Work In Reverse SMP Company has the following data on its operations for the month just ended: Direct Commodities Purchased Direct Commodities Used Total Cost of Direct Commodities Purchased Standard Direct Commodity Price / pound Unfavorable variation in use of direct materials

40,000 pounds 38,000 pounds $ 120,000 $ 3.50 per pound $ 6,500

Required: Calculate the following for SMP Company: 1. Purchase price per pound for direct materials. 2. Variation in the purchase price of direct materials. 3. Total standard quantity of direct materials for units produced during the period. 13-41 Variations in materials: work in reverse order. The following are Rexon Company’s direct raw material costs for May: Increase in inventories of direct raw materials Direct raw materials used Cost of direct raw materials purchased Unfavorable variation in use of direct materials Standard quantity of direct raw materials having May production into account

4,000 pounds 120,000 pounds $ 440,000 $ 48,000 108,000 pounds

Required: Calculate the following for the month of May: 1. Standard cost per pound of direct raw material. 2. Total purchases (in pounds) of direct raw materials during the period. 3. Variation in the purchase price of direct materials. 13-42 Behavioral Considerations Chen, Inc. produces a line of soy-based products, which includes premium soy milk that comes in different flavors. This company, founded by Alan Chen, has done business in the United States for the past 15 years. In order to face the competition posed by new competitors in this line of business, the company’s controller, Rosita Chang, implemented a standard cost system to better control the costs of the soy milk product line.

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]]>Chapter 13 Flexible Budgeting and Standard Costing: Direct Materials and Direct Labor 533

It is required: 1. How many direct hours were worked in total? 2. What is the variation in direct labor rate? 3. What is the variance in flexible budget for direct labor cost for the period? 13-58 Variations in Labor The following are Tommy Company direct labor costs for May: Standard rate per labor hour Total direct labor standard hours per work performed Total labor hours direct labor worked Total variation in direct labor in the flexible budget

Required: Calculate for the month of May: 1. Variation in direct labor efficiency. 2. Variation in direct labor rate. 3. Total payroll of direct labor. 13-59 Behavioral Considerations and Continuous Improvement Standards At a recent seminar you attended, the guest speaker discussed some of the advantages and disadvantages of standard costs in terms of evaluating performance and motivating goal-congruent behavior on the part of of employees. One critique of standard costs in particular caught your eye: Using conventional standard costs may provide the appropriate incentives to make the necessary improvements to effectively compete with world-class organizations.

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]]>In this example, a finite population multiplier of 0.888 reduced the standard error from 33.54 to 29.8. In cases where the population is very large relative to the sample size, this finite population multiplier takes on a value close to 1 and has little effect on the calculation of the standard error. Let’s say we have a population of 1,000 items and we have taken a sample of 20. If we use Equation 6-4 to calculate the finite population multiplier, the result would be

Using this multiplier of 0.99 would have little effect on the calculation of the standard error of the mean. This last example shows that when we sample a small fraction of the entire population (that is, when the population size N is very large relative to the sample size n), the finite population multiplier takes on a value close to to 1.0. Statisticians refer to the n / N fraction as the sampling fraction, because it is the fraction of the population N contained in the sample. When the sampling fraction is small, the standard error of the mean for finite populations is so close to the mean for infinite populations that we could well use the same formula pa. The generally accepted rule is: if the r for both deviations, namely Equation 6-1: x / n sampling fraction is less than 0.05, it is not necessary to use the finite population multiplier. When we use Equation 6-1, it is constant, and therefore also the measure of sampling precision, x, depends only on the sample size n and not on the fraction of the sampled population. That is, to make x smaller it is only necessary to enlarge n. Consequently, it turns out that the absolute size of the sample – and not that of the fraction of the sampled population – is what determines the precision of the sampling.

Although the law of diminishing utility is an economic concept, it can also be applied in statistics. This states that there is a decreasing utility in sampling. In more detail, although obtaining a sample of more items decreases the standard error (the standard deviation of the distribution of the sample means), the increase in precision may not be worth the cost.

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]]>6. The police are not the only cause of the paradise of impunity that Mexico has become. Another bottleneck to ensure that a greater number of crimes are punished is the Public Ministry. Perhaps the most relevant vice of this institution is its inability to efficiently integrate preliminary inquiries.

This is due, on the one hand, to the scarcity of resources with which they operate and, on the other, to the reduced number of MPs when compared to the number of cases they must attend to. For example, in the Federal District, if in 1950 each agent of the Public Ministry was expected to solve 63 crimes per year, the workload increased to 130 crimes per year in 1980, and by 1995 each agent of the MP had to face the investigation of 219 offenses.4

7. The workload of the judges is not much different. Also in the Federal District, where there are better statistics, the fact stands out: 227 judges attend to conflicts generated in a space where more than 16,000,000 people live together.

8. Although it is not with more police officers, more weapons and more penalties that crime in our country seems best to be faced, the frontal attack on impunity does require more resources from the federal government. It is enough to compare the collection from tax revenues of the Federation with the amount that approximately the drug industry generates in our country. While the federal collection rate is 8.71% of GDP according to the SHCP, 5 the income generated by the drug business is approximately 4% of GDP. This means that the Federation collects just a little more than double the resources of drug traffickers in our country.

Although the distribution of resources in public spending improved during the last year, it is still far from adequate.

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]]>It is required: 1. Calculate these variations for the individual flavors and the total Sold: a) Volume of sales. b) Sales mixing. c) Quantity of sales. 2. Evaluate sales in 2007 based on its analyzes. 15.51 Variations in sales volume, in sales and sales mix; Working in the opposite direction Doa Alive is a group of aspiring musicians and actors that occur in theaters and nightclubs. They have a spectacle of Matinée and a night. These operating data are from July: Master Budget Data $ 10 000 Total Operation Utility $ 39 200 Fixed Monthly Cost Total 100 Total Show Number $ 240 Show Contribution: Matinée $ 600 Night Operating Results $ 4 920u Quantity Variation of total sales Matinée shows were 150% of the night shows

It is required: 1. Calculate for each type of show and the total: a) variations in sales mix. b) Variations in sales amount. c) Variations in sales volume. 2. What strategic implications can you reach the variations? 15.52 V Arrenches in market size and market share Transpacific Airlines (TPA) budgeted 80 million passenger miles or 5% of the total market for the year newly terminated in a contribution margin of 40 cents per mile. The budgeted variable cost is 12 cents per mile.

Operating data for the year show that TPA had 69.12 million miles of passengers with an average price of 48 cents per passenger mile. The terrorist activity in the first part of the year in several countries in the region decreased the total miles flown by all airlines for the year by 10%. There is no variation in the flexible budget for all costs.

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]]>Miles of revenue producing passengers Patient days Occupancy rate or number of guests Professional staff hours Credit hours Number of students

Standard Hospital Cost Sheet Source: Based on Table 14 of Managerial Cost Accounting for Hospitals. American Hospital Association, Chicago, 1980, p. 97

Direct disbursements Wages and salaries Supervisors Registered nurses Licensed practical nurses Nursing assistants Supplies – Inventory Supplies – Non-inventory Pediatrician fees Other direct disbursements

Rate / Price $ 30.00 per hour 20.00 per hour 13.00 per hour 0.20 per unit $ 200 per hour

1.3 hours per patient day 1.7 hours per patient day 0.9 hour per patient day 10 units per patient day 0.5 hour per patient day

48 hours + 0.4 hour per patient day + 1.50 hours per patient discharge 500 pounds + 15 pounds per patient day + 30 pounds per discharge + 50 pounds per surgical operation

REAL APPLICATION How a Hospital Unit Responds to a Performance Report Date: November 5, 2007 To: Cynthia DeCamp, Hospital Director From: Stan DeVine, Pediatric Unit Administrator Subject: Direct Disbursements, October 2007 Direct Labor Last month, my unit hired three new registered nurses in the recent hiring category of the ladder, to replace two registered nurses who retired after working with us for 20 years and were at the top of the ladder. The average hourly wage for all registered nurses in the unit was reduced to $ 34 per hour, resulting in a favorable variation in labor rates. However, the replacements increased my RN hours per patient day to 1.5 hours, resulting in an unfavorable variance in workforce efficiency from the average daily staffing last month. To compensate for the increased staffing of registered nurses, a licensed practical nurse was transferred to the emergency room, where her help is needed.

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]]>3. According to ABC, is the luxury pendant light as profitable as the VP of Marketing thinks it is under the existing costing system? 4. Evaluate the VP of Marketing’s suggestion to change the sales mix in favor of luxury units. 5. Give at least two reasons that explain the differences between the results of the two costing systems. 5-59 Volume-Based Costing vs. ABC ADA Pharmaceutical Company produces three drugs: Diomycin, Homycin, and Addolin, which belong to the analgesic (pain-relieving) family of drugs. Since its founding four years ago, ADA has used a system based on direct labor hours to allocate indirect costs to products. Eme Akpaffiong, president of ADA Enterprises, just read an article about activity-based costing in a trade publication. With some curiosity and interest, she asks the financial controller, Takedo Simon, to examine the differences in product costs between the current costing system the company employs and the activity-based costing system. ADA has the following budget information for the year: Cost of direct materials Cost of direct labor Number of hours of direct labor Number of capsules

ADA has identified the following activities as cost drivers and allocated them across a total indirect cost of $ 200,000 as follows: Cost Driver Activity Machine Setup Plant Management Direct Labor Supervision Quality Inspection Streamline orders Total indirect costs

Takedo selected the cost drivers with the following clarifications: PREPARATION HOURS: The “setup hours” cost generator is used because the same product requires approximately the same setup time, regardless of batch size.

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]]>Actual input at actual unit cost (AQ) � (AP) Number of units purchased � Actual unit cost of materials

Variation in purchase price Number of units used � Standard cost per unit of direct materials

Total standard units of direct materials for units of manufactured items � Standard cost per unit of direct materials Variation in use

Regardless of when a variation in the price of direct materials is recognized, to calculate the variation in the use of direct materials, the number of units actually consumed in production is used, as indicated in the lower part of Figure 13.11. The appendix to this chapter presents journal entries for recording cost flows in a standard cost system, as well as related standard cost variances.

Effect of New Manufacturing Technology Recent advances in manufacturing concepts and technologies have greatly affected production processes, costing methods, and standard costing systems. With the introduction of just-in-time (JIT) system, automation, manufacturing cells, total quality management, time throughput, supply chain management, and other modern manufacturing concepts and technologies, many companies they have changed their methods of cost control and administration.

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]]>x e P (x) x! we can calculate the probability that accidents do not occur:

(5) 0 (e 5) P (0) 0! (1) (0.00674) 1 0.00674 That exactly one accident occurs: (5) 1 (e 5) P (1) 1! (5) (0.00674) 1 0.03370 Exactly two accidents occur: (5) 2 (e 5) P (2) 2! (25) (0.00674) 2 1 0.08425 5.5

0.08425 6 0.14042 Finally, the probability that exactly four accidents will occur: (5) 4 (e 5) P (4) 4! (625) (0.00674) 4 3 2 1 4.2125 24 0.17552 Our calculations will answer several questions. We may want to know the probability of having 0, 1, or 2 accidents per month. We can find this out by adding the probability of having exactly 0, 1, and 2 accidents, as follows:

P (0) 0.00674 P (1) 0.03370 P (2) 0.08425 P (0 or 1 or 2) 0.12469

We will take steps to improve the safety of the intersection if the probability of more than three accidents occurring per month exceeds 0.65. Should we take action? To solve this problem, we need to calculate the probability of having 0, 1, 2, or 3 accidents and then subtract the result from 1.0 to get the probability of more than three accidents. We start like this: P (0) 0.00674 P (1) 0.03370 P (2) 0.08425 P (3) 0.14042 P (3 or less) 0.26511 As the Poisson probability that three or fewer accidents occur is 0.26511 , the probability of having more than three accidents should be 0.73489 (1.00000 0.26511). Since 0.73489 is greater than 0.65, steps need to be taken to improve the safety of the intersection. We could continue calculating the probabilities for more than four accidents and in the end construct a Poisson probability distribution of the number of monthly accidents at this intersection. Table 5-12 illustrates this distribution. To produce this table, we have used Equation 5-4. Try to do the calculations yourself for the probabilities beyond exactly four accidents.

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]]>The fixed overhead production volume variance is the difference between the budgeted fixed overhead costs and the standard fixed overhead that are applied to production (using the fixed overhead allocation rate).

Step 4: Calculate the default fixed overhead application rate. The last step in the process is to divide the indirect costs for the period by the activity level as the denominator. In Schmidt’s case, this calculation results in a rate of $ 24 per hour for direct labor, as shown in Figure 14.2. Thus, for product costing purposes, each unit produced is assigned $ 120 of fixed overhead costs. In summary, for product costing purposes a company must choose an activity level over which to distribute the budgeted fixed costs of production during a given period. If the company is actually operating at the level assumed when the application rate was determined, it will have allocated exactly the fixed overhead costs budgeted for the period to production. On the other hand, if the company operates at any level of activity other than the activity level of the denominator, then it will have applied more or less to production than the budgeted fixed overhead costs. It is these fixed overhead or under-applied overhead costs that are referred to as the variation in production volume during the period. Refer to figure 14.5. The line from the origin represents the standard fixed overhead applied to production. The slope of this line equals the fixed overhead application rate, which for Schmidt Machinery Company is $ 24 per hour.

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