Homework Week 5 Management Accounting

Question A1 The following budgeted information relates to two departments in AB Ltd for the next financial control period: Machine Department Production Overhead Direct Lab. Cost Direct Lab. Hours Direct Hours Mat. Cost £ 55,000 122,000 131,000 80,000 15,000 150,000 2,000 20,000 50,000 10,000 A Required: Using the most appropriate base in each instance identify the production overhead absorption rate for: (a) (i) (ii) Department A Department B Outline clearly two advantages of using predetermined overhead absorption rates. (b)

QUESTION 29 Cost AccountingChoose the answer from the choices

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-/1 Question 12 View Policies Current Attempt in Progress Thomsen Computer Company produces three products: Earth, Wind, and Fire. Earth requires 80 machine setups, Wind requires 60 setups, and Fire requires 180 setups. Thomsen has identified an activity cost pool with allocated overhead of $1500000 for which the cost driver is machine setups. How much overhead is assigned to each product? Fire Wind Earth $843750 $281250 $375000 $234375 $703125 $312500 $500000 $500000 $500000 $281250 $500000 $718750

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Question Content Area Given the following information, determine the activity rate (rounded to the nearest cent) for setups. Activity Total Activity-Base Usage Budgeted Activity Cost Setups 10,000             $57,200             Inspections 23,400             $149,700             Assembly (dlh) 73,800             $394,500               a. $5.61 b. $5.35 c. $6.40 d. $5.72

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kboard • Show Timer A Question Completion Status: 20 3D 40 70 10 11 120 13D 140 15 16 17 18 19 20 21 22 23 Lake Corporation has an activity-based costing system with three activity cost pools-Processing, Supervising, and Other. In the first stage allocations, costs in the two overhead accounts, equipment expense and indirect 28 29 31 33 labor, are allocated to the three activity cost pools based on resource consumption. Data used in the first stage allocations follow: Overhead costs: Equipment expense $96,000 Indirect labor $4,000 Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools Processing Supervising Other Equipment expense 0.40 0.20 0.40 Indirect labor 0.30 0.50 0.20 Processing costs are assigned to products using machine-hours (MHs) and Supervising costs are assigned to products using the number of batches. The costs in the Other activity cost pool are not assigned to products. Activity data for the company's two products follow: Activity: MHs…

QUESTION 38 Cost AccountingChoose the answer from the choices

Exercise 12.14 Cost Report, Value-Added and Non-Value-Added Costs Sanford, Ic., has developed value-added standards for four activities: purchasing parts, receiv- ing parts, moving parts, and setting up equipment. The activities, the activity drivers, the standard and actual quantities, and the price standards for 20xl are as follows: so Activities Activity Driver AQ SP 2,600 Purchasing parts Receiving parts Moving parts Setting up equipment 3,640 7,800 2,600 Purchase orders S300 195 Receiving orders Number of moves 5,200 390 Setup hours 10,400 117 The actual prices paid per unit of each activity driver were equal to the standard prices. Required: 1. Prepare a cost report that lists the value-added, non-value-added, and actual costs for each activity. 2. Which activities are non-value-added? Explain why. Also, explain why value-added activ- ities can have non-value-added costs.

Question 14 of 14 View Policies Current Attempt in Progress Direct labor costs Machine hours Saddle 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. Setup hours < (a) Standard $50,000 1,500 Save for Later 90 Predetermined overhead rate eTextbook and Media 4 Total estimated overhead costs are $312,000. Overhead cost allocated to the machining activity cost pool is $210,000, and $102,000 is allocated to the machine setup activity cost pool. Custom Compute the overhead rate using the traditional (plantwide) approach. (Round answer to 2 decimal places, e.g. 12.25.) AS $100,000 Safed out o pe como esped 1,500 420 SINBADO MINOX 0 110 % of direct…

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Problem 8 Pitt Jones Company had the following activities, allocated costs, and allocation bases: Activities Account inquiry (hours) Account billing (lines) Account verification (accounts) 15,000 Correspondence (letters) 10,000 Allocated Costs $60,000 0,000 Allocation Base 2,000 hours 20,000 liners 20,000 accounts 1,000 letters The above activities are used by departments P and Q P Department Q Account inquiry (hours) Account billing (lines) Account verification (accounts) 100 hours 10,000 lines 1,000 accounts 50 letters 200 hours 7,000 lines 600 accounts 100 letters   1) How much of the account verification costs will be assigned to Department P

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Problem Set: Module 3 еBook Single Plantwide and Multiple Production Department Factory Overhead Rate Methods and Product Cost Distortion The management of Nova Industries Inc. manufactures gasoline and diesel engines through two production departments, Fabrication and Assembly. Management needs accurate product cost information in order to guide product strategy. Presently, the company uses a single plantwide factory overhead rate for allocating factory overhead to the two products. However, management is considering the multiple production department factory overhead rate method. The following factory overhead was budgeted for Nova: Fabrication Department factory overhead $697,000 Assembly Department factory overhead 287,000 Total $984,000 Direct labor hours were estimated as follows: Fabrication Department 4,100 hours Assembly Department 4,100 Total 8,200 hours In addition, the direct labor hours (dlh) used to produce a unit of each product in each department were determined from…

Problem 10