EZ-Seat, Inc., manufactures two types of reclining chairs, Standard and Ergo. Ergo provides support for the body through a complex set of sensors and requires great care in manufacturing to avoid damage to the material and frame. Standard is a conventional recliner, uses standard materials, and is simpler to manufacture. EZ-Seat’s results for the last fiscal year are shown in the following statement.   EZ-SEAT, INC. Income Statement   Ergo Standard Total Sales revenue $ 2,000,000   $ 5,000,000   $ 7,000,000   Direct materials   600,000     1,500,000     2,100,000   Direct labor   400,000     500,000     900,000   Overhead costs                   Administration               630,000   Production setup               480,000   Quality control               336,000   Distribution               750,000   Operating profit             $ 1,804,000       EZ-Seat currently uses labor costs to allocate all overhead, but management is considering implementing an activity-based costing system. After interviewing the sales and production staff, management decides to allocate administrative costs on the basis of direct labor costs but to use the following bases to allocate the remaining costs.       Activity Level Activity Base Cost Driver Ergo Standard Setting up Number of production runs 60 100 Performing quality control Number of inspections 210 210 Distribution Number of units shipped 1,500 6,000     Required: a. Complete the income statement using the preceding activity bases. c. Restate the income statement for EZ-Seat using direct labor costs as the only overhead allocation base.

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Star me up Inc. manufactures caffeinated energy drink that sells for $4.80 each. The results for its first year of operations appear in the table below:

Piper Recreational Vehicles (PRV) modifies vans into recreational vehicles. PRV offers two models, the XC-2 and XC-6, which differ in the quality of the basic van and the workmanship and machining detail that are used. The following data reflect expected operations for the next year. Number assembled Materials cost per RV Other costs: Direct labor Depreciation Miscellaneous costs Operation cost Materials cost Total cost Unit cost XC-2 54 $ 40,000 XC-2 XC-6 39 $ 70,000 Required: es Piper Recreational Vehicles uses operations costing and assigns conversion costs based on the number of units assembled. Compute the expected cost of each model assembled next year. XC-6 Total 93 $ $ 905,550 735, 120 633, 180 Total 0

Hazlett & Family is organized into two geographic markets Northern and Southern. The company makes an off-road vehicle for recreation and agricultural use. The vehicle is sold in three models, depending on the power and options. The three models, from least expensive to most expensive, are the H-L, H-LX, and H-LXS. The company's financial staff has prepared the following forecasted income statement for the upcoming fiscal year (in thousands of dollars): Sales revenue Cost of goods sold. Gross margin Marketing costs. Administrative costs Total marketing and administrative. Operating profits H-L H-LX H-LXS Management has expressed special concern with the Southern market because of the extremely poor return on sales. This market was entered a year ago because it seemed like the best opportunity for growth. Hazlett & Family knew that it would take some time to build profitability in the market, but there has been no noticeable change in the low returns over time. The financial staff has…

Ida Sidha Karya Company is a family owned company located on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $898. Selected data for the company's operations last year follow Units in beginning inventory Units produced Units sold . Units in ending inventory. Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative $ $ $ 1 Absorption costing unit product cost 22,000 20,000 2,000 240 470 49 16 $ 640,000 $ 520,000 4 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing Compute the unit product cost for one gamelan.

Piper Recreational Vehicles (PRV) modifies vans into recreational vehicles. PRV offers two models, the XC-2 and XC-6, which differ in the quality of the basic van and the workmanship and machining detail that are used. The following data reflect expected operations for the next year. Number assembled Materials cost per RV Other costs: Direct labor Depreciation Miscellaneous costs XC-2 54 $ 40,000 XC-6 Operation cost Materials cost Total cost Unit cost 39 $ 70,000 Total 93 $ 905,550 735, 120 633, 180 Required: Piper Recreational Vehicles uses operations costing and assigns conversion costs based on the number of units assembled. Compute the expected cost of each model assembled next year. X Answer is complete but not entirely correct. XC-2 XC-6 $ 1,320,408X $ 2,160,000 $ 3,480,408X $ 3,683,428X $ 64,452 X $ 94,448 X Total 953,428X $ 2,273,836 2,730,000

Analyze and compare Monster Beverage and Brown-Forman Monster Beverage Corporation (MNST) develops, markets, and sells energy and other alternative beverage brands. Brown-Forman Corporation (BF.B) manufactures and sells a wide variety of spirit and wine beverages, such as Jack Daniel's®. The cost of goods sold and inventory were obtained from a recent annual report for both companies as follows (in millions): Cost of goods sold Inventories: Beginning of year End of year a. Determine the inventory turnover for both companies. If required, round all computations to one decimal place and use in subsequent calculations. Round final answers to one decimal place. Inventory Turnover Monster Beverage Monster Beverage Brown-Forman $1,512 $973 Monster Beverage Brown-Forman Brown-Forman b. Determine the days' sales in inventory for both companies. Assume a 365-day year. If required, round all computations to one decimal place and use in subsequent calculations. Round final answers to one decimal…