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Financial Accounting and Managerial Decision-Making: A Comprehensive Assignment

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

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

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