A partial responsibility accounting report for a cost center is below. The value of letter (c) would be:Over (Under) BudgetControllable CostsBudgetedActualDirect materials....$52,800$aDirect labor.......24,00026,000Utilities19,200CTotals...$96,000$96,600A$19,000B$19,400C) $54,000D) $2,000ENone of the above$(1,200)b(200)$ 600

To find the value of (c), which represents the actual cost for utilities, we need to calculate the…

Answered: A partial responsibility accounting…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The management of Hartman Company is trying to determine the amount of each of two products to produce over the coming planning period. The following information concerns labor availability, labor utilization, and product profitability: Labor-Hours Required(hours/unit) Department Product 1 Product 2 Hours Available A 1.00 0.35 95 B 0.30 0.20 36 C 0.20 0.50 50 Profit contribution/unit $30.00 $15.00 (a) Develop a linear programming model of the Hartman Company problem. Solve the model to determine the optimal production quantities of products 1 and 2. If required, round your answer to two decimal places. Product 1 Product 2 Production (b) In computing the profit contribution per unit, management does not deduct labor costs because they are considered fixed for the upcoming planning period. However, suppose that overtime can be scheduled in some of the departments. Which departments would you recommend scheduling for…
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A company uses activity-based costing to determine the costs of its three products: A, B, and C. The budgeted cost and activity for each of the company's three activity cost pools are shown in the following table: Budgeted Activity Activity Budgeted Cost Activity Cost Driver Product A Product B Product C $ 70,000 $ 45,000 $ 82,000 Square feet Units inspected Activity 1 6,000 9,000 20,000 Activity 2 Activity 3 7,000 15,000 8,000 Setups 2,500 1,000 1,625 What are the activity rates for the three activities under activity-based costing? Multiple Choice (1) $2.00 per square foot; (2) $3.00 per unit; (3) $3.50 per setup. (1) $3.50 per square foot; (2) $1.50 per unit; (3) $32,80 per setup. (1) $3.50 per square foot; (2) $3.00 per unit; (3) $16.00 per setup. (1) $2.00 per square foot: (2) $1.50 per unit; (3) $16.00 per setup.
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Question Content Area Given the following information, determine the activity rate for setups. Activity Total Activity-Base Usage Budgeted Activity Cost Setups 10,000 $180,000 Inspections 24,000 $120,000 Assembly (dlh) 80,000 $400,000
Banks Corporation has the following information for direct materials for the latest period. BANKS CORPORATION INFORMATION FOR DIRECT MATERIALS FOR THE LATEST PERIOD Standard price per unit of direct materials Actual price per unit of direct materials Budgeted units of output Standard quantity of direct materials allowed per unit of output Actual units of direct materials used Actual units of direct materials purchased Actual units of output produced SA SA 15.00 $ 16.50 45,000 3 units 40,000 50,000 14,000 The company calculates its price variance based on quantity purchased. What is the direct materials price variance? $60,000 favorable. $60,000 unfavorable.
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Q1. Prepare a Flexible budget for overheads on the basis of the following data. Ascertain the overhead rates at 70% and 80% capacity. Variable Overheads (60% capacity) Indirect Material = Rs. 6,000 Labour Rs. 18,000 Semi-variable overheads: Electricity (40% fixed) = Rs. 40,000 Repairs (80% fixed) = Rs. 2,400 Fixed Overheads: Depreciation Rs. 16,500 Insurance Rs. 4,500 Salaries= Rs. 20,000 Estimated Labour Hours 15,000 hrs H =
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Required information Use the following information for the Quick Studies below. (Algo) Rafner Manufacturing has the following budgeted data for its two production departments. Budgeted Data Overhead cost Direct labor hours Machine hours $ 1,358,900 Assembly 12,700 direct labor hours. 6,700 machine hours The departmental overhead rate for Assembly QS 17-7 (Algo) Computing departmental overhead rates LO P2 What is the Assembly department overhead rate using direct labor hours? What is the Finishing department overhead rate using machine hours? The departmental overhead rate for Finishing $ 1,068,800 Finishing 20,700 direct labor ho 16,700 machine hours
alanced scorecard? they relate to prevention costs. xamples of nonfinancial perfor- sures. 24. Distinguish between internal and external fail- ure costs, and give two examples of each. EXERCISES Computing budgeted overhead rates James and Waymire have a professional service firm that has the following budgeted costs for the current year: E9-1 Associates' salaries $300,000 Depreciation-equipment....... 50,000 Fringe benefits 150,000 Lease expense 220,000 Partners' salaries. 200,000 Telephone and fax 30.000 Compute the budgeted overhead rate for the coming year, using direct labor dollars as the overhead allocation base. Computing profit or loss on a bid Sebastian and Whitley, plumbers, successfully bid $30,000 for the E9-2 ng work on a new homeTotalidiractila
4. Running Shorts Co. makes two products: A and B. In the folding department, budgeted information is as follows: Budgeted indirect labor costs in the workshop: $150,000 Budgeted depreciation expenses of equipment: $50,000 Budgeted direct labor costs: $100,000 Budgeted units produced: 50,000 The company allocates indirect labor costs based on direct labor costs and allocates depreciation expenses of equipment based on units produced. The actual direct labor costs for product A are $60,000 and 40,000 units of product A are produced. How much is the manufacturing overhead of product A in the folding department? 120,000 90,000 130,000 40,000

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