Stranahan Building at UT has the following for each department: Department Accounting Marketing Management Finance Total Square Footage 3,000 4,000 6,000 3,000 16,00 W Stranahan has $400,000 of overhead costs. What amount should be allocated to the Marketing Department? $60,000 $120,000 $80,000 O $100,000
Q: Abunda Company provided the following data at year-end: Cash P2,000,000 Accounts receivable -…
A: Liabilities :— It is the obligation of company that will be settled in future date. Current…
Q: Blossom Ranch Inc. has been manufacturing its own finials for its curtain rods. The company is…
A: If the company decides to buy the product from outside only fixed overheads cost will be incurred.…
Q: 21. During 2021, Opulence Company purchased marketable equity securities as short-term investment to…
A: In this case stock valued at the end of each year at the fair value and the difference is transfer…
Q: Cloud Productivity Inc. uses flexible budgets that are based on the following data: Sales…
A: Flexible budget is the statement which is prepared by the entity to estimate the fixed and variable…
Q: Discuss whether or not the following statement is true or false:
A: Outside auditors are often named as defendants in shareholder suits because they are perceived to…
Q: research a technical computer or accounting or business magazine for their most current list of the…
A: After researching technical computer, accounting, and business magazines, I found the most current…
Q: Which is not generally accepted in presenting the income statement?
A: Prior period errors are accounting errors that occur in a company's financial statements in one…
Q: A paragrap stating your evaluation of companys performance and financial status fir quarter wnding…
A: Financial statement refers to the statements which states the position or performance of company in…
Q: Required information [The following information applies to the questions displayed below.] At…
A: Accounts receivables are those customer accounts to whom business has made credit sales on account,…
Q: Middleton Associates is a consulting firm that specializes in information systems for construction…
A: The income statement represents the financial performance of the business entity in the industry by…
Q: Smithen Company, a wholesale distributor, has been operating for only a few months. The company…
A: CVP analysis, or cost-volume-profit analysis, is a management accounting technique used to analyze…
Q: At the beginning of the current year, Icon Company acquired bonds with face value of P 4,000,000 at…
A: Bonds refer to the debt instruments that are issued by the government or corporation for raising…
Q: AO
A: Journal is the book of prime entry where we record the financial transactions in…
Q: On January 2, 20X1, The Blue Legal Clinic issued Check 2108 for $260 to establish a petty cash fund.…
A: Lets undestand the basics. Journal entry is required to make to record event and transaction that…
Q: Dugal chose to use the units of production method for the vehicle, and originally estimated a…
A: The depreciation expense is charged on fixed assets as reduction in the value of fixed assets. The…
Q: 1. The following information is budgeted for McCracken Plumbing Supply Corporation for next quarter.…
A: Cash Budget - Cash Budget is a part of budgeting system. A budget is a estimating upcoming sales and…
Q: Novak Inc. is considering modernizing its production facility by investing in new equipment and…
A:
Q: CRAZY Co, is a major producer of beauty products. The company uses a standard cost system to help…
A: Formula : (a) Standard Fixed manufacturing overhead rate = Fixed Manufacturing overhead cost /…
Q: From the following balances taken from the ledger of Shri Krishna on 31st March 2007, prepare the…
A: The businesses create a trading and profit and loss account before creating a balance sheet. It is…
Q: a) Using the following information, prepare a bank reconciliation (i) Balance per bank statement,…
A: Bank Reconciliation Statement is a statement prepared to reconcile the difference between the…
Q: In 2007, two domestic corporations operating in the same industry report the following effective tax…
A: The core ethical dilemma in this scenario is that Dontall and Less, Inc. failed to disclose their…
Q: In a department, 27,000 units are completed and transferred out and 10,400 remain in ending WIP at…
A: Note : Equivalent units are defined as how much work has been done on a certain number of units.…
Q: Crane Corporation has one temporary difference at the end of 2025 that will reverse and cause…
A: To compute taxable income and income taxes payable for 2025, we need to calculate the amount of…
Q: 4. The following information relates to Blue Hose Manufacturing Corporation for next quarter:…
A: Budgeting - Budgeting is a method of estimating on the basis of past performance. It helps…
Q: EFFECTS OF COMPUTERS ON INTERNAL CONTROL Separation of Duties Delegation of Authority &…
A: The internal control system is the system within a company that includes the policies and procedures…
Q: For each independent situation below, indicate whether the transactions would be included in the…
A: CFS stands for Cash flow statement refers to the statement which is prepared by the business at the…
Q: why arent the boxes filled in
A: accounting equation assets = liabilities + equity date assets =…
Q: Munoz Company incurs annual fixed costs of $125,220. Variable costs for Munoz’s product are $28.80…
A: Sales in dollars means the amount of sales revenues earned by the entity, by selling the goods in…
Q: dunn company incurred the following costs while producing 400 units. Direct Material $5 per unit.…
A: Note : In absorption costing method, the unit product cost is the sum of all manufacturing cost per…
Q: Upon your review of Shalom Company's standard cost card. You found the following information:…
A: Note : Material price variance = (Standard price - Actual price) x Quantity purchased When material…
Q: Required information [The following information applies to the questions displayed below.] Aaron,…
A: INTRODUCTION:- This question involves a scenario where three individuals named Aaron, Deanne, and…
Q: hock Company manufactures computer monitors. The following is a summary of its basic cost and…
A: Introduction:- CVP analysis is used to identify the changes in costs and volume affect a company's…
Q: Operating income % Total assets (investment base) Return on investment Residual Income (8% cost of…
A: OPERATING INCOME Operating Income is the Ratio between Sales Revenue & Operating Expenses During…
Q: Donatello Metals Limited is a privately owned firm that manufactures various metal products and…
A: In the context of the present compilation engagement, the main differences between a review and an…
Q: i Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers On…
A: Last in, first out (LIFO) is a method used to account for inventory. Under LIFO, the costs of the…
Q: PB 4. LO 5.3 During March, the following costs were charged to the manufacturing department: $22,500…
A: To prepare the company's process cost summary using the weighted-average method, we need to…
Q: Fill in the missing amounts in each of the eight case situations below. Each case Is Independent of…
A: Formula used here:- a) Net operating income= Sales - Variable Expenses Contribution= Sales -…
Q: Exercise 13-14A (Algo) Segment elimination decision LO 13-4 Benson Company operates three segments.…
A: Segmented Income Statement: A segmented income statement provides a more thorough analysis of…
Q: Q4 The following information pertains to the Moline Facility for the month of May (all materials are…
A: The equivalent units are calculated on the basis of the percentage of the work completed during the…
Q: 1. Return on investment (ROI), residual income (RI), and economic-value added (EVA) are performance…
A: Return on investment (ROI), residual income (RI), and economic value added (EVA) are all popular…
Q: What are the key differences between auditors and fraud examiners? Discuss at least three.
A: Auditors and fraud examiners both play crucial roles in ensuring the financial integrity of…
Q: lom Department makes a part that it sells to customers outside of the company. Data concerning ear…
A: To determine an acceptable price range for both departments, we need to consider the relevant costs…
Q: Standard hours per unit of output Standard variable overhead rate The following data pertain to…
A: Variable overhead rate variance :— It is the difference between actual direct labor hours at…
Q: he following information concerns production in the Baking Department for August. All direct…
A: The total cost of producing a product, including raw materials and operating costs, is detailed in a…
Q: Efficiency Ratio A. Calculate the efficiency ratios for Bank X and Bank Y and what can you conclude…
A: Efficiency Ratio determines the efficiency of the bank's operations by dividing the bank's…
Q: 1. Assets to be sold, consumed or realized as part of th normal operating cycle are Problem 8-8 Mu…
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Rubio recently invested $20,500 (tax basis) in purchasing a limited partnership interest in which he…
A: The basis limitation is a limitation on the amount of losses and deductions that a partner of a…
Q: Project cash flow and NPV. The managers of Classic Autos Incorporated plan to manufacture classic…
A: Internal rate of return refers to the return that is received by the investors on the investment…
Q: Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's…
A: Answer:- Inventory:- The products and materials that a company keeps on hand with the intention of…
Q: Required information [The following information applies to the questions displayed below.] During…
A: Lets understand the basics. When asset is disposed then there is possibility of gain or loss arise.…
Please do not give solution in image format thanku
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Morrell Financial Services (MFS) has three service departments: Accounting, Information Technology (IT), and Personnel. MFS also has two operating departments (Advice and Brokerage). Data on service department usage and service direct costs follow: Accounting IT Personnel Direct cost Using Department Accounting IT Personnel Advice 0% 16% 6% 23% 31% Brokerage 40% 0% 10% 29% 45% 11% 13% 0% 39% 37% $ 197,000 $ 281,000 $ 264,500 NA NA* *Not applicable for this problem. Required: Assume that Morrell Financial Services uses the reciprocal method of service department cost allocation. What is the total service department cost allocated to Advice? To Brokerage? (Hint: Use the reciprocal method spreadsheet shown in Exhibit 11.22 as a start to your analysis.) Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollars. Advice Brokerage Cost AllocatedThe following information is departmental cost allocation with two service departments and two production departments. Percentage Service Provided to Department Cost S1 S2 P1 P2 Service 1 (S1) $ 40,000 0 % 40 % 30 % 30 % Service 2 (S2) 30,000 25 0 45 30 Production 1 (P1) 200,000 Production 2 (P2) 250,000 What is the total cost in P1 and P2 and what is the amount of service department cost allocated to P1 and P2 using the step method with S1 going first?The following information is departmental cost allocation with two service departments and two production departments. Department Cost Percentage Service Provided to S1 S2 P1 P2 Service 1 (S1) $ 32,000 0% 25% 30% 45% Service 2 (S2) 23,000 20 0 20 60 Production 1 (P1) 130,000 Production 2 (P2) 180,000 What is the total cost in P1 and P2 and what is the amount of service department cost allocated to P1 and P2 using the step method with S1 going first? The following information relates to a joint production process for three products, with a total joint production cost of $165,000. There are no separable processing costs for any of the three products. Product Sales Value at Split-Off Units at Split-Off 1 $ 181,500 320 2 99,000 960 3 49,500 1,920 $ 330,000 3,200 What percentage of joint cost is allocated to each of the three products using the sales value at split-off method? Do not give answer in image
- Becker Tabletops has two support departments ( Janitorial and Cafeteria) and two production departments (Cutting and Assembly). Relevant details for these departments are as follows: Support Department Cost Driver Janitorial Department Square footage to be serviced Cafeteria Department Number of employees JanitorialDepartment CafeteriaDepartment CuttingDepartment AssemblyDepartment Department costs $310,000 $169,000 $1,504,000 $680,000 Square feet 50 5,000 1,000 4,000 Number of employees 10 3 30 10 Allocated the support department costs to the production departments using the direct method below. CuttingDepartment AssemblyDepartment Janitorial Department cost allocation $62,000 $248,000 Cafeteria Department cost allocation $126,750 $42,250 Allocated the support department costs to the production departments using the reciprocal services method below.…Becker Tabletops has two support departments (Janitorial and Cafeteria) and two production departments (Cutting and Assembly). Relevant details for these departments are as follows: Support Department Cost Driver Janitorial Department Square footage to be serviced Cafeteria Department Number of employees Line Item Description JanitorialDepartment CafeteriaDepartment CuttingDepartment AssemblyDepartment Department costs $320,000 $180,000 $1,520,000 $690,000 Square feet 40 5,000 2,800 4,200 Number of employees 10 3 24 6 Allocate the support department costs to the production departments using the direct method. Line Item Description CuttingDepartment AssemblyDepartment Janitorial Department cost allocation $fill in the blank 1 $fill in the blank 2 Cafeteria Department cost allocation $fill in the blank 3 $fill in the blank 4Becker Tabletops has two support departments (Janitorial and Cafeteria) and two production departments (Cutting and Assembly). Relevant details for these departments are as follows: Support Department Cost Driver Janitorial Department Square footage to be serviced Cafeteria Department Number of employees JanitorialDepartment CafeteriaDepartment CuttingDepartment AssemblyDepartment Department costs $310,000 $170,000 $1,480,000 $670,000 Square feet 48 5,300 1,200 1,800 Number of employees 10 2 36 4 Allocate the support department costs to the production departments using the direct method. CuttingDepartment AssemblyDepartment Janitorial Department cost allocation Cafeteria Department cost allocation
- Sequential (Step) Method of Support Department Cost Allocation Chekov Company has two support departments, Human Resources and General Factory, and two producing departments, Fabricating and Assembly. Support Departments Producing Departments HumanResources GeneralFactory Fabricating Assembly Direct costs $165,000 $380,000 $114,200 $90,000 Normal activity: Number of employees — 40 70 150 Square footage 1,800 — 5,500 13,200 The costs of the Human Resources Department are allocated on the basis of number of employees, and the costs of General Factory are allocated on the basis of square footage. Now assume that Chekov Company uses the sequential method to allocate support department costs. The support departments are ranked in order of highest cost to lowest cost. Required: 1. Calculate the allocation ratios (rounded to four significant digits) for the four departments using the sequential method. If an amount is zero, enter "0". Use the rounded…Required information [The following information applies to the questions displayed below.] The following information is departmental cost allocation with two service departments and two production departments. Department Service 1 (S1) Service 2 (S2) Production 1 (P1) Production 2 (P2) Cost $ 44,000 34,000 240,000 290,000 Service Department Cost Allocation Total Cost Percentage Service Provided to P1 S1 0% 20 S2 P1 20% 40% 0 20 What is the total cost in P1 and P2 and what is the amount of service department cost allocated to P1 and P2 using the step method with S1 going first? P2 40% 60 P2BluStar Company has two service departments, Administration and Accounting, and two operating departments, Domestic and International. Administration costs are allocated on the basis of employees, and Accounting costs are allocated on the basis of number of transactions. A summary of BluStar operations follows. Administration Accounting Domestic International Employees — 25 15 60 Transactions 50,000 — 10,000 40,000 Department direct costs $ 56,000 $ 21,000 $ 155,000 $ 590,000 BluStar estimates that the cost structure in its operations is as follows. Administration Accounting Domestic International Variable costs $ 22,000 $ 5,800 $ 114,500 $ 429,000 Fixed costs 34,000 15,200 40,500 161,000 Total costs $ 56,000 $ 21,000 $ 155,000 $ 590,000 Avoidable fixed costs $ 10,000 $ 4,000 $ 18,500 $ 110,500 Required: a. If BluStar outsources the Administration Department, what is…
- Premium Company provides the following ABC costing information: Activities Total Costs Activity-cost drivers Account inquiry $200,000 10,000 hours Account billing $140,000 4,000,000 lines Account verification accounts $75,000 40,000 accounts Correspondence letters $ 25,000 4,000 letters Total costs $440,000 The above activities are used by Departments A and B as follows: Department A Department B Account inquiry hours 2,500 hours 4,000 hours Account billing lines 400,000 lines 250,000 lines Account verification accounts 10,000 accounts 8,000 accounts Correspondence letters 1,200 letters 1,600 letters 1- How much of account verification costs will be assigned to Department A? 2- How much of the total costs will be assigned to department B?Merlin Company provides the following ABC costing information: Activities Total Costs Activity-cost drivers Account inquiry hours $200,000 10,000 hours Account billing lines $140,000 4,000,000 lines Account verification accounts $75,000 40,000 accounts Correspondence letters $25,000 4,000 letters Total costs $440,000 The above activities are used by Departments A and B as follows: Department A Department B Account inquiry hours 2,000 hours 4,000 hours Account billing lines 400,000 lines 200,000 lines Account verification accounts 10,000 accounts 8,000 accounts Correspondence letters 1,000 letters 1,600 letters Required: a. How much of the correspondence costs will be assigned to Department B? b. How much of the total costs will be assigned to Department A?Chekov Company has two support departments, Human Resources and General Factory, and two producing departments, Fabricating and Assembly. Support Departments Producing Departments HumanResources GeneralFactory Fabricating Assembly Direct costs $160,000 $310,000 $114,900 $95,000 Normal activity: Number of employees ― 80 35 65 Square footage 1,100 ― 4,000 12,000 The costs of the Human Resources Department are allocated on the basis of number of employees, and the costs of General Factory are allocated on the basis of square footage. Chekov Company uses the direct method of support department cost allocation. Solve for the allocated costs to Fabricating and Assembly using the direct method of support department cost allocation. The Fabricating Department overhead rate is based on normal activity of 85,000 machine hours. The Assembly Department overhead rate is based on normal activity of 160,000 direct labor hours.…