ABC’s production manager, John, has been under pressure from the company’s president to reduce the conversion…

ABC’s production manager, John, has been under pressure from the
company’s president to reduce the conversion costs. Despite this,
Although there were several efforts to lower conversion costs they didn’t succeed.
Less constant. John now faces a meeting with The
He is the company president and must then explain his failures.
Reduce conversion costs. John’s annual bonus is based on achieving
Cost targets were approved by President. ABC utilizes an participative approach
Budgeting is an important step in the budgeting process. This year’s cost target is 1% lower than $5.30
for men’s leather belts. John hasn’t achieved this goal for the
Previous 10 months

John must reduce production costs.
process. It is impossible to lower material costs, so the engineer must be able to.
Keep the conversion cost down. He would like to share just a bit
progress in next week’s meeting with the president, then he can buy
He has some time left to explore other cost-cutting methods he’s tried.
considering. He would like to increase the percentage
completion of November’s WIP inventory to 90 percent. He thinks
It will allow you to have more units of the same type. The unit will then be
The conversion costs will be slightly lower.

Discuss whether John’s suggested manipulation of the
All will see the expected effects of a percentage completion in end WIP (all
Others assumptions are unchanged) profit (show workings
(Support your conclusions).
.

The inventory of work-in progress (WIP), consisted of 40,000
On November 1, partially finished units were available. Belts at 25 %
Please complete the conversion cost. All costs are included in the inventory
On November 1, these were:

Leder strips

$96,000

Buckles

46,000

Conversion cost

16,000

Total

$158,000

November was a busy month for leather strips.
production. The total number of leather belts produced was 700,000. These belts were made from leather.
The November 30, 2009 WIP inventory included 70,000 belts.
Conversion at 10%

Production costs for November were estimated at as
follows:

Leder strips

$1,945,600

Buckles

874,000

Conversion cost

1,141,390

Total

$3,960,990

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