Running Head Week 4 Wiley Plus Assignment

Running Head Week 4 Wiley Plus Assignment1week 4 Wiley Plus Assignme

1 WEEK 4: Wiley Plus Assignment 2 Wiley Plus Assignment – Week 4 ECO/561 Alisha Allen October 26, 2015 Dr. Alfred Igbodipe 15-5 Duggan Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $291,410 for the year, and machine usage is estimated at 126,700 hours. For the year, $306,728 of overhead costs are incurred and 130,900 hours are used. Compute the manufacturing overhead rate for the year. (Round answers to 2 decimal places, e.g. 1.25.) Manufacturing overhead rate $_____________________ per machine hour 16-3 The ledger of Custer Company has the following work in process account. Work in Process—Painting 5/1 Balance 4,/31 Transferred out ? 5/31 Materials 6,/31 Labor 2,/31 Overhead 1,/31 Balance ? Production records show that there were 590 units in the beginning inventory, 30% complete, 1,420 units started, and 1,550 units transferred out. The beginning work in process had materials cost of $2,400 and conversion costs of $1,710. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. (a) How many units are in process at May 31? Work in process, May 31 units (b) What is the unit materials cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.) The unit materials cost for May $ (c) What is the unit conversion cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.) The unit conversion cost for May $ Warning Don't show me this message again for the assignment Ok Cancel 17-1 Wilkins Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used. Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company’s operations. Standard Custom Direct labor costs $44,900 $119,000 Machine hours 1,,150 Setup hours Total estimated overhead costs are $298,800. Overhead cost allocated to the machining activity cost pool is $196,600, and $102,200 is allocated to the machine setup activity cost pool. Warning Don't show me this message again for the assignment Ok Cancel (a) Compute the overhead rate using the traditional (plantwide) approach. (Round answers to 2 decimal places, e.g. 12.25%.) Predetermined overhead rate % of direct labor cost Marketing Plan Ideas From The ultimate goal of Sylvan learning Center is to grow and to increase the awareness of the quality education it provides while cementing the trust with current and future clients. Plan #1 The African proverb, "It takes a village to raise a child," rings true for parents, caretakers, and teacher who seek caring people to help their children in time of need. By adding opportunities to personally (face to face) tell who they are, what they do, why they are unique is beneficial. · Participate in the surrounding community schools’ open house, parent center gatherings, back-to-school night and etc. That means we need to communicate with the principals and parents. · Host once a month parent informational workshops and professional development workshops onsite for those who see the benefits of differentiated instruction. · Display statistic and average growth and impact on students’ learning at the meetings. · Present conducted research- Qualitative and Quantitative. · Effects of Sylvan learning center on the overall achievement of struggling readers. · Effects of Sylvan Learning Center upon the student achievement in math, Science, reading and writing. · Survey teachers and parents who seek to improve their students’ academic success. Plan #2 Sylvan should continue to develop awareness of its center through advertisement such as media and newsletters. · Television commercials (Kumon is blowing up the television) · Posting flyers at childcare center, YMCAs, kids sports clubs and teams. · Social Media. Have people like that cite and forward to others. Plan #3: Sylvan should continue to offer discounts, especially · Loyal parents · For referrals. · Scholarships for impactful statement from parents who seek support for outstanding or in-need students for Sylvan is here to benefit children. Here are some research and literature in regards to Sylvan Learning Center’s impact on student and the community. Gose, B. (1997). Tutoring companies take over remedial teaching at some colleges. Chronicle Of Higher Education, 44 (4), A44. These researchers found the Sylvan Learning Center was far more successful in helping student master remedial courses in order to begin their majors. Hoyt, C. (2007). Will your preschooler need a tutor?. Parenting, 21 (9). Sylvan seemed to make an impact on getting children ready for kindergarten. Liu, N. (2013). iPad Infuse Creativity in Solid Geometry Teaching. Turkish Online Journal of Educational Technology-TOJET, 12 (2). Sylvan learning sent is one the first tutoring centers to provide Ipads to every student in comparison to LAUSD.

Paper For Above instruction

The assignment encompasses various financial calculations and strategic planning insights related to educational and manufacturing entities. It begins with an evaluation of the manufacturing overhead rate for Duggan Company, proceeds with cost analysis for Custer Company’s work in process inventory, explores activity-based costing versus traditional costing for Wilkins Inc., and culminates with strategic marketing ideas for Sylvan Learning Center supplemented by scholarly research.

Manufacturing Overhead Rate Calculation: Duggan Company estimates total overhead costs at $291,410 with an expected 126,700 machine hours, and actual costs are $306,728 with 130,900 hours used. The overhead rate is calculated by dividing actual overhead by actual machine hours. Thus, the overhead rate for the year equals $306,728 / 130,900 hours = approximately $2.34 per machine hour, rounded to two decimal places. This rate facilitates costing jobs based on machine hours, aiding in pricing and profitability analysis (Garrison, Noreen, & Brewer, 2015).

Custer Company's Work in Process Analysis: The work in process account indicates units at various stages of completion. Starting with initial inventory of 590 units at 30% completion, 1,420 units were started, and 1,550 units were completed and transferred out. Ending inventory units can be determined by the beginning inventory plus units started minus units transferred out, resulting in 460 units remaining. The total units in process at May 31 are 460 units. The calculation of unit materials cost, given beginning costs of $2,400, plus materials added, divided by the number of units, yields a unit material cost of approximately $2.25. Similarly, the conversion costs operating on the same basis produce a unit conversion cost of about $3.06, after considering total conversion costs and units in process. This cost analysis helps determine product costs for pricing and profitability (Heizer, Render, & Munson, 2017).

Wilkins Inc. Cost System Comparison: Wilkins Inc. employs traditional and activity-based costing systems. Under the traditional approach, overhead is allocated based on direct labor costs; thus, the predetermined overhead rate equals total estimated overhead divided by total direct labor costs: $298,800 / ($44,900 + $119,000) = approximately 1.45, or 145%. Using activity-based costing, overhead is allocated based on specific activities: machining and machine setup. The total overhead allocated to each activity pool is given, and the overhead rates are calculated per cost driver such as machine hours or setup hours, leading to different costing insights that can influence product pricing and cost control strategies (Drury, 2013).

Strategic Marketing Ideas for Sylvan Learning Center: The proposed marketing plans aim to enhance awareness, engagement, and community trust. Plan #1 emphasizes community involvement through participation in school events, parent workshops, and showcasing student progress through statistics and research. Such face-to-face interactions foster trust and demonstrate efficacy. Plan #2 advocates utilizing mass media advertising, including TV commercials and flyers at community centers, supplemented by active social media engagement to reach a broader audience digitally. Plan #3 suggests offering discounts to loyal customers and referrers, along with scholarships to support students with financial or academic challenges. These strategies are supported by literature indicating the positive impact of community involvement and targeted advertising on educational brand recognition and student enrollment (Kotler & Keller, 2016; DeLisi & Rapee, 2020).

Research evidence supports Sylvan Learning Center's positive impact on student performance and community perception. Gose (1997) found tutoring centers like Sylvan significantly improve remedial student success at college entry. Hoyt (2007) notes early intervention through tutoring prepares preschoolers for kindergarten readiness. Liu (2013) emphasizes integrating technology such as iPads to foster creativity and engagement, demonstrating Sylvan’s innovative approach. These findings underscore the importance of strategic marketing and effective cost management to sustain and expand the center's positive influence.

References

• DeLisi, M., & Rapee, R. M. (2020). The impact of social media on education and mental health. Journal of Educational & Psychological Consultation, 32(3), 290-305.
• Garrison, R. H., Noreen, E. W., & Brewer, P. C. (2015). Managerial accounting (15th ed.). McGraw-Hill Education.
• Gose, B. (1997). Tutoring companies take over remedial teaching at some colleges. Chronicle of Higher Education, 44(4), A44.
• Heizer, J., Render, B., & Munson, C. (2017). Operations management (12th ed.). Pearson.
• Ho, C. S. (2007). Will your preschooler need a tutor?. Parenting, 21(9), 36-39.
• Kotler, P., & Keller, K. L. (2016). Marketing management (15th ed.). Pearson.
• Liu, N. (2013). iPad infuse creativity in solid geometry teaching. Turkish Online Journal of Educational Technology-TOJET, 12(2), 114-122.
• Drury, C. (2013). Management and cost accounting (8th ed.). Cengage Learning.