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ACT202-Calculating The Cost Of A Piece Of Xtreme And Wtreme

tag 0 Download 5 Pages / 1,032 Words tag 14-09-2020
  • Course Code: ACT202
  • University: Charles Darwin University
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  • Country: Australia

Questions:

Hard Yakka is producer of workwear in Australia. In the recent years they have introduced two innovative products lines. The first, Hard Yakka Xtreme, is designed to provide maximum safety and comfort for those who work in extreme conditions and features many technological advances. The second, Hard Yakka for Women (Wtreme), is a unique range of clothes with a feminine style and flattering fit that has been designed to multitask. The company’s simple costing system has two direct cost categories (material and labour) and one indirect cost pool. The simple costing system allocates indirect costs on the basis of machinehours. Currently David K. Laidlaw the founder of the company is concerned about a decline in the market share for their Hard Yakka Xtreme which usually is in big demand by their customers. Information related to Hard Yakka’s production for the most recent year follows:
 
 
 
David learned that rivals are now using an activity-based costing system and are curious how and ABC system would affect their product costing decisions. After analysing the indirect cost pool for Hard Yakka, six activities were identified as generating indirect costs: production scheduling, material handling, machine set-up, assembly, inspection and marketing. Hard Yakka collected the following data related to the indirect cost activities:
 
 
Marketing costs were determined to be 3% of the sales revenue for each type of clothing.
 
Required
 
1. Calculate the cost of a piece of Xtreme and Wtreme under the existing simple costing system . 
 
2. Calculate the cost of an Xtreme and Wtreme under an activity-based costing system 
 
3. Compare the costs of the clothing in requirements 1 and 2. Why do the simple and activity-based costing systems differ in the cost of Xterme and Wtremer? 
 
4. How might Hard Yakka use the new cost information from its activity based costing system to address the declining market share for Xterme?
 
2.Emprior Furniture sells two types of chairs (Flexi and Comfort). Joy Smith is the newly appointed manager of the business who has little knowledge of cost volume profit analysis. She as prepared an income statement for the next period as per below:
 
 
Required
 
1.Explain the benefits of ‘cost volume profit analysis’ in Emprior Furniture to Joy 
 
2. Describe the assumptions that Joy must consider in conducting CVP analysis
 
3. Calculate the break-even point in units, assuming that the planned sales mix is attained 
 
4. Calculate the break-even point in in units:
 
 
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