BCS's management has set a strategic goal to improve both product and customer profitability. A related subgoal that supports this strategy is to identify profitable products and customers using an accurate cost-accounting system. BCS currently uses a simple cost-accounting system to calculate both product and customer profitability. The only direct costs are the purchase costs of footwear and equipment products. BCS allocates indirect costs to the product groups using a single indirect cost pool for all indirect costs with "pounds of product" as the cost allocation base. Cost and operating data accumulated for the most recent year follow:
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- Raider Corporation is planning to introduce a new product to its product line. 1. You are tasked with conducting a Cost - Volume - Profit (CVP) analysis for the new product. 2. Discuss the key components of CVP analysis, including the breakeven point, contribution margin, and margin of safety. 3. Additionally, explain how CVP analysis can assist Raider Corporation in making strategic decisions related to pricing, sales volume, and overall profitability for the new product. 4. Discuss any assumptions or limitations associated with CVP analysis that management should be aware of when using this tool for decision-making. 5. Finally, suggest potential strategies that Raider Corporation could employ to improve its CVP metrics and enhance the financial performance of the new product.Aaron McKinney is a cost accountant for Majik Systems Inc. Martin Dodd, Vice President of Marketing, has asked Aaron to meet with representatives of Majik Systems major competitor to discuss product cost data. Martin indicates that the sharing of these data will enable Majik Systems to determine a fair and equitable price for its products. Would it be ethical for Aaron to attend the meeting and share the relevant cost data? Explain your answer.The success of a business depends on many things. For example, you are the senior manager of the ABC Hypermarket, Explain Mr. Said, the new manager how to understand the customers and the competition. In addition also explain control costs and how to price their products and services. Explain Mr. Said about Markup & Margin with the following situations. Required: (a) Situation 1: Calculating OMR amount of markup and percent markup on cost. Signature" jeans cost, OMR 1800. Signature" jeans selling price OMR 2300. (b) Situation 2: Calculating selling price based on following information. Lamp cost, OMR200. 40% markup on selling price (c) Situation 3: Calculating cost based on following information Tennis racket selling price OMR 800 40% markup on cost
- APPLY THE CONCEPTS: Target income (sales revenue) Another useful method for figuring out the type of performance your company will need to reach a target income is by using sales revenue. Rather than using the number of units, this method uses total sales revenue. In companies for which the total set of goods produced and sold is more varied, this would be the preferred method, as opposed to a business in which only one product is sold. Assume a company has pricing and cost information as follows: Price and Cost Information Amount Selling Price per Unit $30 Variable Cost per Unit $15 Total Fixed Cost $15,000 For the upcoming period, the company wishes to generate operating income of $40,000. Given the cost and pricing structure for the company’s product, how much sales revenue must it generate to attain its target income? Step 1: Calculate the contribution margin ratio: The contribution margin ratio is the contribution margin in proportion to the selling price on a…UrLink Company is a newly formed company specializing in high-speed Internet service for home and business. The owner, Lenny Kirkland, had divided the company into two segments: Home Internet Service and Business Internet Service. Each segment is run by its own supervisor, while basic selling and administrative services are shared by both segments.Lenny has asked you to help him create a performance reporting system that will allow him to measure each segment’s performance in terms of its profitability. To that end, the following information has been collected on the Home Internet Service segment for the first quarter of 2017. Budgeted Actual Service revenue $24,800 $25,000 Allocated portion of: Building depreciation 10,300 10,300 Advertising 4,700 4,200 Billing 3,200 3,200 Property taxes 1,100 1,200 Material and supplies 1,400 1,300 Supervisory salaries 9,400 9,400 Insurance 4,300 3,200 Wages…Planning and control decisions. Gregor Company makes and sells brooms and mops. It takes the following actions, not necessarily in the order given. For each action, state whether it is a planning decision or a control decision. Gregor asks its advertising team to develop fresh advertisements to market its newest product. Gregor calculates customer satisfaction scores after introducing its newest product. Gregor compares costs it actually incurred with costs it expected to incur for the production of the new product. Gregor’s design team proposes a new product to compete directly with the Swiffer. Gregor estimates the costs it will incur to distribute 30,000 units of the new product in the first quarter of next fiscal year.
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- Hurney Corporation manufactures plastic water bottles. It plans to grow by producing high-quality water bottles at a low cost that are delivered in a timely manner. There are a number of other manufacturers who produce similar water bottles. Hurney believes that continuously improving its manufacturing processes and having satisfied employees are critical to implementing its strategy. Required: Is Hurney's strategy one of product differentiation or cost leadership? Explain briefly. Identify at least one key element that you would expect to see included in the balanced scorecard a. for the financial perspective. b. for the customer perspective. c. for the internal business process perspective. d. for the learning and growth perspective.Kwami Williams and Emily Cunningham of MoringaConnect must understand manufacturing costs to effectively operate and succeed as a profitable and efficient business. Required 1. What are the three main categories of manufacturing costs Kwami and Emily must monitor and control? Provide examples of each. 2. What are four goals of a total quality management process? Hint: The goals are listed in a margin “Point.” How can MoringaConnect use TQM to improve its business activities?Please help to calculate the product differentiation, and cost leadership. Also, explain how successful has Esparza been in implementing its strategy, explain. See pictures