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Financial Accounting and Managerial Decision-Making: A Comprehensive Assignment

An assignment integrating financial accounting principles with managerial decision-making.

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    Financial Accounting and Managerial Decision - Making: A Comprehensive Assignment Question 1: Product costs: A cost incurred by a business when manufacturing a good or producing a service. Question 2: Use the following information and the indirect method to calculate the net cash provided or used by operating activities: $20,900 Question 3: Actual fixed overhead for Kapok Company during March was $92,780. The flexible budget for fixed overhead this period is $89,000 based on a production level of 5,000 units. If the company actually produced 4,200 units what is the fixed overhead volume variance for March? Unit variance = 5,000 - 4,200 = 800 units Fixed overhead volume variance = 800($89,000/5,000) 800 x $17.80 = $14,240 unfavorable Question 4: A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities. $141,000 Question 5: Chance, Inc. sold 3,000 units of its product at a price of $72 per unit. Total variable cost per unit is $51, consisting of $32 in variable production cost and $19 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing. 120,000 Question 6: A company has fixed costs of $90,000. Its contribution margin ratio is 30% and the product sells for $75 per unit. What is the company's break - even point in dollar sales?

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